New Delhi, March 27 (IANS). The domestic e-retail market is estimated to reach $ 170–190 billion in gross trade price (GMV) by 2030 amid growing trends of Quick Commerce, Trend-first commerce and Hyper-Value Commerce. This information was given in a report released on Thursday.
The report said that India has become the second largest e-retail shopper base globally. In 2024, the Shopper Base was more than 27 crores.
According to the report by Bain & Co. and Flipkart, the country’s e-retail market is estimated to be three times the current $ 60 billion by 2030.
At the same time, the retail market size was more than a trillion dollar in 2024 and despite the increase in the online channel, it remains an important channel.
E-retail is estimated to increase by 18 percent by 2030. India’s per capita GDP has crossed $ 3,500-4,000, a significant change in e-retail expenditure globally.
Arpan Sheth, partner of Bain & Company, said, “The ‘democratization’ is a major driver of ‘democratization’ growth of purchasing landscape with increasing access to national brands/mixture in the deprived areas of Tier-3+ cities and remote areas.”
By 2030, grocery, lifestyle and everyday items such as high-perchase frequency category are expected to contribute to about 70 percent of the growth of e-retail market.
The e-Retail has expanded from Tier 2 cities to Tier 3 and even smaller destinations. From the year 2020, 60 percent of new customers have come from these areas and 45 percent orders have been received from these areas from 2023.
Sailor ecosystem is also becoming large and diverse. From 2021, 60 percent of the sellers have come from Tier 2 or smaller cities.
Vijay Iyer, vice-president and general manager of Flipkart Aids, said, “India has become the second largest e-retail market in the world according to the Shopper Base, where more than 27 million online buyers are advancing the $ 60 billion industries.”
-IANS
SKT/Ekde
