India: B2C e-commerce market size 2024

In 2019, the business-to-consumer (B2C) e-commerce market size stood at about 30 billion U.S. dollars in India. This was an increase from the previous year. The B2C e-commerce market is likely to increase to about 96 billion U.S. dollars in 2024. Moreover, branded websites saw a significant growth of over 80 percent in the B2C e-commerce market.

Social commerce

Social media plays a crucial role in day-to-day life due to increased internet penetration and the availability of low-cost data packages. As a result, social media platforms have over 850 million active users. Social commerce has become popular because social media offers brands not only a platform for advertisement but also for sales of products. Therefore, the market size of social commerce in India was over seven billion U.S. dollars in 2022. The popular social commerce platforms in the country are Facebook, Instagram, and Snapchat.

Live commerce

The new form of e-commerce deals with the use of digital platforms to sell products and engage with customers through livestream mostly with the help of influencers. Major e-commerce players such as Flipkart, Amazon, and Myntra have incorporated live commerce, with the beauty and personal care segment being the most popular. About 70 percent of Indian consumers are interested in using live commerce while shopping. Besides, the main reason for using live commerce was that consumers can get answers related to the warranty and return of products bought online.