Ecommerce is rapidly changing how business is done in India
The B2C Ecommerce market in India is expecting a CAGR of 14.62% during 2022-2026, with Gross Merchandise Value increasing to US$181.2 billion by 2026 from US$86.4 billion in 2021.
It is set to grow by 21.52% on annual basis to reach US$105.0 billion in 2022, according to a ResearchAndMarkets report “The India B2C Ecommerce Market Opportunities Databook – 100+ KPIs on Ecommerce Verticals”. It was released on 27 Sept 2022.
The B2C e-commerce industry is rapidly changing how business is done in India, said the report.
Over the last two years, global pandemic-induced lockdowns and social distancing norms have disrupted the traditional Indian retail sector. This has driven the growth of e-commerce transactions in the country.
The Covid-19 pandemic has been a boon for the e-commerce ecosystem, it said.
“With consumers staying home during the lockdown, many shoppers turned to e-commerce platforms to complete their purchases.
“The growth of the e-commerce industry in 2021 is expected to continue until 2022.”
In the Asian Pacific region, India is expected to become the second-fastest growing economy based on e-commerce sales in 2022, said the report.
“The country is expected to record double-digital growth through 2025.
“Regarding retail e-commerce sales, India is expected to hold fourth place in the region, behind China, Japan, and South Korea.
“Notably, the exponential growth in the country has been driven by consumers in Tier II and Tier III cities.
“Online shoppers from smaller cities have accounted for a growing share of total e-commerce sales,” said the report.
The market is led by:
Ajio
Amazon India
Flipkart
Myntra
Snapdeal
Domino’s
Faasos
Pizza Hut
Swiggy
Zomato
Expedia.co.in
Goibibo
MakeMyTrip
Ola
Uber. fiinews.com
