Big population and internet penetration reaches out retailers.

A wide array of payment options is among major factors driving growth inn India’s Fashion Retail market projected to grow at a CAGR of 63% by 2020.

It had a value of over US$1.8 billion in 2015, according to market research firm Technavio.

The main factors contributing to this huge growth are the country’s huge population, increasing internet penetration, developing infrastructure, and increasing purchasing power.

Consumers can currently choose between many options: debit cards, credit cards, cash on delivery (COD), electronic wallets, smart cards, internet banking, demand drafts, and cash on order.

Unlike the United States, Indian consumers are cautious of making prepaid orders, and tend to prefer alternatives.

There are connection with over 9,000 textiles companies in India, says BizVibe, a B2B marketplace, offering the online retail report.

Toronto-headquartered BizVibe platform is home to over seven million company profiles across 700+ industries. fii-news.com