Internet is a huge opportunity and there is hardly anyone oblivious to the fact. The internet economy of the G-20 will nearly double between 2010 and 2016. The Boston Consulting Group recently came up with some interesting numbers as it always does. Among the G-20 players, United States benefits from a vibrant internet economy while German and France tend to lag. By 2016, UK will be the front runner and many other countries will catch up, the report projects.
Now, retail represents close to 33% of the total GDP in G-20 and the online retail contributes a significant and increasing share in many countries. The effect is most significantly seen in the U.K. where deep internet penetration and an efficient delivery infrastructure has made the online story a grand success. But the EU as a whole holds back when it comes to cross-border eCommerce. According to projections, online retail will account for 23% of UK’s total retail while India will be at 4.5%.
Average for Developed Countries: 8.5%
Average for Developing Countries: 3.2%
[Many startups are pouncing on this opportunity and some of the upcoming tech product startups from India leveraging the internet will be demoing at Techsparks 2012 on September 8th. Block your seat!]