Bangalore/Mumbai, May 26 (): E- commerce is the latest business that has been attracting celebrities. The latest to join this bandwagon is Mahesh Bhupathi who launched www.sports365.in. This portal will market sports goods, clothing and other accessories and offer advice from experts for those who are new to the field.
According to the market analysis e-commerce market in India will see compounded annual growth rate (CAGR) of 40 per cent. Sports365 which had been doing B2B has done a business of about Rs 1 crore a month in the last seven months. It was selling goods physically in the business-to-business segment and now decided to add the online section to increase its reach. The sports business market in India does business for Rs 13,800 crore at present. It is growing at a CAGR of 30 per cent, the company said.
Bhupathi will be giving advice on the tennis sport and similarly there would be experts in other disciplines. It has an interactive session for sports lovers. Sanjay Dutt, Ajay Devgan, Karisma Kapoor, Salman Khan, Yuvraj Singh and Zaheer Khan are those into e commerce. Bollywood actor Salman Khan invested in Yatra.com, actress Karisma Kapoor in BabyOye.com, and cricketer Yuvraj Singh and Zaheer Khan invested in Exclusively in Neha Dhupia’s HerStyle, sells lingerie, nightwear and thermals (which is costumes most of the time on screen) while actor Ajay Devgan and Sanjay Dutt invested in TicketPlease, which sells tickets for movies and concerts.
Mindboggling figures of e-commerce in India says that from current US$10 billion turnover is to rise between US$125 billion and will touch US$260 billion by 2024-25. This is peanuts compared to the US e-commerce market which is all set to to touch US$200 billion in 2013. The role model in India is Flipkart.com, started four year ago, which itself was run on the lines of Amazon.com and is today valued at US$ 500 million and has a revenue target of US$1 billion in the coming two to three years.
Increased internet penetration is a must for e-commerce to grow. Stats show India’s internet penetration is about 10% (or about 121 million users) compared to 81% in the US and 36% in China.