Indian Economy News

Over 60% of Indian small businesses use website, e-store or e-commerce to grow above global average: Report

The need to digitise growth is seemingly encouraging small businesses globally and in India to enhance their adoption of digital tools. According to a report by domain registrar GoDaddy, 62% of Indian small businesses use a website, online store or e-commerce platform as their main sales channel to grow their business. This was above the global average of 61%, according to the report Small Business Data Observatory 2023 based on a global survey of small businesses in March this year.

The report, which surveyed a sample of over 4,800 small business owners in Brazil, Colombia, Germany, India, Mexico, the Philippines, Singapore, Spain, Thailand, and the United States, also found that 65 per cent of Indian small businesses made up to half of their revenue from online sales. Other 36% of respondents made over 50% of their revenue from online sales.

According to the report, at a global level, 55% of the surveyed businesses were selling through digital channels for 1 to 5 years. However, In India, a higher share - 63% of small businesses were selling online for 1-5 years while only 20% were selling online for less than a year and 4% were selling online for over 10 years.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.