E-commerce market value India 2014-2030
Owing to the increasing internet user base and favorable market conditions, India has a lot of potential in the e-commerce industry. Growing at an exponential rate, the market value of the e-commerce industry in India was approximately 22 billion U.S dollars in 2018. This number was estimated to reach 350 billion U.S. dollars by 2030.
E-commerce platforms in India
The competition in the e-commerce business in India is fierce. The market is filled with many local and foreign companies trying to hold the maximum market share. As of April 2017, Amazon India was the leading online market place in the country with more than 500 million U.S dollars in the sale. Flipkart and Myntra were the prominent players in the local market. In a survey conducted in May 2020 about permitting e-commerce platforms to deliver goods in India after coronavirus lockdown, the majority of respondents voted in favor.
Growing trend of e-commerce in India
Increasing growth in the e-commerce industry is attributed to a number of reasons. Digitizing the economy and providing cheap internet to the people are a few of many reasons that boosted the growth of digital sales in India. In 2018, the e-commerce sales across India were estimated to increase by 25 percent. The growth rate, however, was predicted to observe a slight dip in 2022. Consequently, the revenue-generating potential has also increased. The average retail e-commerce revenue collected per user in India in 2018 was more than 50 U.S dollars. It was estimated to cross 75 U.S dollars by 2024.
E-commerce platforms in India
The competition in the e-commerce business in India is fierce. The market is filled with many local and foreign companies trying to hold the maximum market share. As of April 2017, Amazon India was the leading online market place in the country with more than 500 million U.S dollars in the sale. Flipkart and Myntra were the prominent players in the local market. In a survey conducted in May 2020 about permitting e-commerce platforms to deliver goods in India after coronavirus lockdown, the majority of respondents voted in favor.
Growing trend of e-commerce in India
Increasing growth in the e-commerce industry is attributed to a number of reasons. Digitizing the economy and providing cheap internet to the people are a few of many reasons that boosted the growth of digital sales in India. In 2018, the e-commerce sales across India were estimated to increase by 25 percent. The growth rate, however, was predicted to observe a slight dip in 2022. Consequently, the revenue-generating potential has also increased. The average retail e-commerce revenue collected per user in India in 2018 was more than 50 U.S dollars. It was estimated to cross 75 U.S dollars by 2024.
