India's E-commerce to Hit $300 Billion by 2030, Driven by Multi-Channel Growth

The report indicated that while e-commerce is expanding, it still accounts for only 7-8 per cent of total consumer spending. Offline retail continued to grow at an annual rate of 13-14 per cent. Currently, 5 out of 10 offline shoppers use online platforms to research and gather information before making a purchase.

Parul Bajaj, India Leader - Marketing, Sales and Pricing Practice at BCG, stated, "Retail in India is becoming structurally multi-channel. Brands that treat online and offline as separate strategies risk falling behind. Those integrating both are scaling faster, innovating more frequently, and delivering stronger financial outcomes. The competitive advantage now lies in orchestrating connected consumer journeys across formats."

Growth is increasingly driven by e-services, which are expected to see a forward CAGR of 20-22 per cent, surpassing the 16-18 per cent growth projected for e-retail.

Significant shifts are visible in specific categories, with 45 per cent of mobiles and 23 per cent of personal electronic devices now purchased online.

Furthermore, approximately 30 per cent of travel and hotel bookings and 44 per cent of movie and event tickets are booked digitally, with these segments growing upwards of 40 per cent.

The shopper base is also expanding and diversifying. "India currently has nearly 300 million online shoppers, a figure expected to reach 440 million by 2030," the report said.

Rural India now accounts for approximately 30 per cent of these users. Women represent roughly 45 per cent of digital shoppers, with many citing safety and independence as key drivers.

Kanika Sanghi, Partner and Director at BCG, noted, "India's shoppers are becoming more diverse, with consumers using different formats depending on their needs and maturity. As the demographic mix of online shoppers becomes more democratic, platforms and brands must design simpler, safer, and more seamless experiences across touchpoints. The opportunity now is to reduce friction, build trust, and make multi-format journeys feel intuitive for every shopper."

The report highlights a shift toward category-focused platforms, which now account for more than 60 per cent of online spending. Emerging formats such as quick commerce and social commerce are gaining momentum, particularly in Tier II and Tier III cities. Quick commerce has seen a CAGR of over 100 per cent, while social and chat commerce are growing at 40-45 per cent.

E-commerce has also accelerated business scaling. The time required for a brand to reach Rs 100 crore in annual revenue has decreased from 11 years to approximately 7 years. Small businesses and MSMEs are reporting benefits. "Nearly 90% of small online sellers report sales growth, with many expanding employment and reaching national markets at lower cost," BCG noted.

The report stated that together, these enablers can help build a more inclusive, resilient, and trustworthy e-commerce ecosystem, one that expands participation, accelerates business growth, and supports India's evolving consumption landscape over the long term.

- ANI