eCommerce
Key Highlights:
  • The Indian eCommerce market will reach 350 million users by 2025.
  •  33% of all internet users in India will shop online and that ratio would double to 46% by 2030.
  •  Around 80% of the urban internet users in India conduct online product research on eCommerce portals.

In 2025, eCommerce users in India will reach 350 million, according to an Amazon Ads report from WPP’s GroupM and Wunderman Thompson.

The report estimates that by 2020 there will be almost 2.5X as many ‘digital consumers’ in India as there are now. Additionally, It said by 2030, 500 Mn Indians will use eCommerce.

According to the GroupM report, by 2025, 33% of all internet users in India will shop online and that ratio would double to 46% by 2030. In 2020, that number was around 25%.

Meanwhile, around 70% of internet users in India will have completed an online transaction by 2025, and that number is expected to rise to 75% by 2030. That number was around in 2020.

According to GroupM’s report, around 80% of the urban internet users in India conduct online product research on eCommerce portals. Additionally, around a quarter of them shop online even for their offline purchases after researching products on eCommerce websites. Thus eCommerce is becoming a more important part of the customer journey on the Internet.

Moreover, the report observed that new online customers are increasingly conducting voice searches on eCommerce websites, as the numbers have risen by 255% and 136%, respectively, in 2021.

Among the 5,127 active startups in India, there are 24 unicorns and nine soonicorns. The funding raised by Indian eCommerce startups between 2014 and 2021 will amount to more than $27 billion.

India had more than 788 Mn internet users by March 31, 2022, according to data from the Telecom Regulatory Authority of India (TRAI). It means that around 60% of the Indian populace has access to the internet.
The country is experiencing a rapid expansion of segments such as consumer internet and eCommerce due to growing internet penetration.

There are currently 57 unicorns in India’s consumer internet market, making it the largest segment within the startup ecosystem. Over the next five years, consumer internet startups are expected to raise over $8 billion in funding.

Almost 62% of India’s startup funding since then has gone to consumer internet startups given that the startup ecosystem in India has raised roughly $130 billion since then.

For regular Startup related news Visit Alphafirm.

 

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