The Indian E-commerce market was valued at USD 30 billion in 2019 and is expected to reach USD 100 billion by 2024, growing at a CAGR of 27 percent. Categories such as fashion/apparel and online food & groceries (F&G) will play a significant role in acquiring customers online and driving this industry's growth in India.
Major growth in the next few years
The number of online shoppers India is primed to reach nearly 300 to 350 million over the next five years from 160 million in 2020. Technology-enabled innovations such as digital payments, hyperlocal logistics, analytics-driven customer engagement and digital advertisements are also supporting the growth in the sector.
Changes in consumer behaviour
Additionally, global pandemic has proved to be a catalyst in E-commerce growth globally and in India. It has completely changed the way people used to shop. During government-imposed nationwide lockdowns, the industry saw the surge in demand for groceries and other essentials. As consumers avoided crowded spaces and interpersonal contact, there was seen a major upsurge in online shopping channels.
Report: How Swiss companies can enter the Indian e-commerce market
The report, which can be downloaded below, has been conducted by the Swiss Business Hub and T&A Consulting. The following topics are covered in the report:
- Market Overview E-Commerce in India, segments and market trends
- Online Food and Groceries: current trends and changing consumer behavious
- Case Studies: major trends and disruptions in online food and grocery segment in India
- Imported Foods: overview, demand drivers and high growth segments
- Key Players in the market