Rising per capita income, growing TV penetration in rural areas along with ease of ordering to drive India teleshopping market through 2023
According to TechSci Research report, “India Teleshopping Market By Operation Type, By Category, By Payment Mode, By Source of Order, Competition Forecast & Opportunities, 2023”, India teleshopping market is projected to grow at a CAGR of over 13% during 2018 – 2023. In 2017, dedicated channel segment accounted for the largest share in India teleshopping market, and the segment is anticipated to maintain its dominance through 2023 as well, owing to 24 hours telecast, availability of plethora of products and continuous announcement of various cashbacks/ discounts offers. According to Telecom Regulatory Authority of India (TRAI), number of smartphone users in India has reached 251.79 million in 2016 from 44 million in 2012. Such rapid development is expected to further drive the teleshopping market in India. Moreover, according to World Bank, per capita household final consumption expenditure of India has reached $ 1,045 in 2016 from $ 834 in 2012. In addition, increasing standard of living and changing lifestyle, especially among fast growing urban population of the country, is further expected to boost the teleshopping market in India during the forecast period.
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Among payment modes, cash on delivery (COD) option dominated India teleshopping market in 2017, and this payment option is expected to continue its dominance during the forecast period as well, owing to high preference of consumer towards cash on delivery, as they consider it to be more safe than other payment options. South region accounted for a major share in India teleshopping market, owing to rising disposable income and growing acceptance of products sold by teleshopping companies. Furthermore, growing internet connectivity, new business models and expanding digital media in the country has provided many teleshopping companies an opportunity to promote their brands through online medium.
“The teleshopping market in India is growing at a rapid pace and is gaining popularity on the back of increasing economic development with consumers having higher disposable incomes. Moreover, teleshopping companies are launching their own online websites and mobile applications to counter the rising competition from e-commerce websites, which is further expected to aid the growth of teleshopping market in India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Teleshopping Market By Operation Type, By Category, By Payment Mode, By Source of Order, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of teleshopping market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India teleshopping market.
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