The e-commerce market in India was worth $4 billion in 2019, which is expected to reach $40 billion by 2030. By 2026, the number of internet users in India will cross 110 million.
Presently, the contribution of e-commerce in the retail market is only 4 percent.
E-Commerce in India: The e-commerce market in India is spreading very fast. According to a report, the size of e-commerce in India will increase to $ 40 billion by 2030. In 2019 it was only $ 4 billion. The digital revolution is a big reason behind this growth rate. The number of internet users in India is increasing very fast. This is the reason why online shopping is seeing a lot of boom.
India’s Tier-3, and Tier-4 cities are being digitized very fast. Internet has reached even in rural India and the pace of its reach is very fast in the rest of the areas. Due to internet access, there has also been a lot of change in the behavior and pattern of the customers there. They are now attracted towards online shopping. Retail market experts say that there is a lot of potential for e-commerce in the Indian retail market.
Market to be $20 billion by 2026
According to a report by consulting firm Kearney, the e-commerce market in India was worth $ 4 billion in 2019. It will be worth $20 billion by 2026, while it is projected to reach $40 billion by 2030. This report states that the lifestyle retail market was worth $90 billion in 2019. It will be worth $156 billion by 2026, while it will reach $215 billion by 2030. This includes apparel, footwear, fashion accessories, cosmetic, small appliances and home living.
Presently the contribution of e-commerce in retail is only 4%.
Kearney’s report states that at present the contribution of e-commerce in the retail market is only 4 percent. In 2030, this will increase to about 19 percent. It has also been said in this report that by 2026, the number of internet users in India will cross 110 million. One third of these will be very interested in online shopping.
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