New Delhi: The e-commerce sector has the potential to reach $40 billion by 2030.
Since the Covid onslaught, retails in India have bounced back with growing values reshaping India’s e-commerce landscape.
Considering the value segment, Siddharth Jain, Partner, Kearney said that there is only a 4 percent increase in online channels currently which is expected to rise by 19 percent ie; creating a $40 billion market for value e-commerce in India.
As many Indian buyers are drawn towards online shopping, the contours of India’s e-commerce are also changing to reflect the needs and aspirations of the newer cohorts of Indian online buyers.
According to the report, the growth can be valued at $20 billion by 2026, and $40 billion by 2030 with a 10x growth in the next 10 years.
Value-conscious consumers are shifting to online markets giving an estimation of 350 million active internet users by 2026, out of which about 90 million will be from rural India.
And these values will eventually contribute to 38 percent of India’s value e-commerce market demand by 2026.