E-commerce generates Rs. 8 crore revenue every half minute

MUMBAI, INDIA: The global e-commerce industry generates over $1.2 million (roughly Rs 7.9 crores) in revenue every 30 seconds or half minute.

Facebook, Pinterest and Twitter are the largest contributors at $5,483 (roughly Rs 3,57,800), $4,504 (roughly Rs 2,93,904) and $4,308 (roughly Rs 2,81,114) respectively, said a joint study by Assocham-Deloitte.

According to the study, maturity of social media and its reach across the masses and classes makes it a suitable platform for online sales.

"Social media also helps e-tailers build brand awareness by responding to customer queries. Seasonal sales and offers are displayed on social networks to reach maximum number of people. E-tailers are even motivating customers with reward points to provide feedback on the product on social networks," said DS Rawat, Secretary General, Assocham.

Payment gateways help the e-tailers to receive money instantly rather than waiting for the Cash on Delivery, thus reducing chances of theft and fraud. The retailers are slowly moving towards payment gateways for improving security and dealing with other complexities which arise with financial transactions, the study said.