According to the latest report by IMARC Group, titled, “India E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The India E-commerce market size is expected to exhibit a CAGR of 33.43% during 2022-2027.
E-commerce refers to selling and buying various goods online by connecting potential customers with legitimate sellers using the internet. It comprises various business transaction models, such as business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B), and consumer-to-consumer (C2C). It involves the selling of various digital products, such as templates, eBooks, courses, and media that are licensed for usage. It is used by small businesses, independent freelancers, and large enterprises to take their business to the next level and scale up their profits. It enables online retailers and sellers to connect with their targeted clients and assists buyers in finding the products or services they require. E-commerce also allows organizations to indulge in wholesale, dropshipping, and crowdfunding activities. It aids brands in setting up subscription systems for automatic recurring purchases of products or services until the consumer cancels the subscription. It provides convenience and accessibility to both companies and buyers while offering abundant growth opportunities to enterprises. It helps streamline business processes with upgraded technology and effective marketing strategies. It also facilitates borderless transactions, which enable businesses to operate globally. It provides a comprehensive platform to entrepreneurs for starting business operations with minimum investment. As e-commerce is efficient, convenient, and scalable, it is widely utilized in the retail, food delivery, fashion, and electronics industries in India.
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India E-Commerce Market Trends and Drivers:
The rising demand for e-commerce among small- and large-scale companies to expand their business operations and connect with potential customers internationally represents one of the key factors driving the market in India. Besides this, increasing online shopping activities of individuals to save time by avoiding traveling and standing in long queues in shops and markets is contributing to the growth of the market in the country. In addition, the growing availability of discount codes, affiliate codes, and gift cards provided by e-commerce businesses in India is positively influencing the market. Apart from this, e-commerce platforms are providing abundant growth opportunities to home-grown brands and young entrepreneurs from India with effective marketing and customizations, which is propelling the growth of the market. Additionally, the wide availability of services and products on e-commerce sites, such as apparel, footwear, home decor, furniture, utensils, automobile, electronics, personal care and agricultural products, and grooming services, is offering a favorable market outlook. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce artificial intelligence (AI) monitored e-commerce websites and highly secured transaction facilities, which is bolstering the growth of the market.
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India E-Commerce Market 2022-2027 Competitive Analysis and Segmentation:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on type, transaction and payment mode.
Breakup by Type:
- Home Appliances
- Apparel, Footwear and Accessories
Breakup by Transaction:
- Business to Business (B2B)
- Business to Consumer (B2C)
- Consumer to Consumer (C2C)
Breakup by Payment Mode:
- Cash Payment
- Bank Transfer
- Card Payment
- Digital Wallet
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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