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India's E-commerce to Nearly Double to $300 Billion by 2030: BCG Report

India's e-commerce market is projected to nearly double, reaching $280-300 billion by 2030 from its current $120-140 billion. The growth will be fueled by an expansion of online shoppers to 440 million, with significant contributions from rural India and the faster-growing e-services segment. The market is characterized by a seamless blend of online and offline channels, with quick commerce and social commerce seeing explosive growth. Brands are now able to reach major revenue milestones faster, reflecting the market's rapid maturation and evolving consumer behavior.

Key Points: India E-commerce Market to Hit $300 Billion by 2030

  • Market to grow from $120-140B to $280-300B
  • 300M online shoppers to reach 440M by 2030
  • E-services growing faster than e-retail
  • Quick commerce growing at over 100% CAGR
  • Multi-channel shopping becoming the norm
2 min read

India's e‑commerce to nearly double by 2030 to $300 bn: Report

BCG report projects India's e-commerce to reach $280-300B by 2030, driven by 440M online shoppers and rapid e-services growth.

"Shoppers today move seamlessly between screens and stores, researching online, purchasing offline, and vice versa. - BCG Report"

Mumbai, Feb 24

India's e‑commerce market, currently at $120-140 billion, is projected to reach $280-300 billion by 2030, even as it remains 7-8 per cent of total consumer spending, a report said on Tuesday.

The report from Boston Consulting Group said that even amidst rapid growth of e-commerce offline retail remains resilient, having grown at an annual rate of 13-14 per cent over the past four years.

Market is entering a phase of coexistence between online and offline retail, with multi-channel becoming a norm for shoppers and five of 10 offline shoppers using online channels to research purchases, the report said.

India currently has nearly 300 million online shoppers, projected to reach 440 million by 2030, with around 30 per cent of online shoppers from rural India, the report further said.

E‑commerce comprises e‑retail and e‑services, estimated at $75-85 billion and $45-55 billion respectively, and growth will be driven by e‑services with a forward CAGR of 20-22 per cent versus 16-18 per cent for e‑retail, the report added.

"Shoppers today move seamlessly between screens and stores, researching online, purchasing offline, and vice versa, based on convenience, trust, and need," the report said based on a survey of over 12,000 consumers across geographies.

Nearly two-thirds of women shoppers say they feel safer shopping online, citing privacy, ease of access, and the ability to shop independently and at any time.

"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," said Kanika Sanghi, Partner and Director, BCG.

Quick commerce has grown at over 100 per cent CAGR, making immediate and top-up shopping missions mainstream and boosting purchase frequency, while social and chat commerce, grew at 40-45 per cent CAGR.

"The time required for online brands to reach Rs 100 crore in annual revenue has fallen from around 11 years to around 7 years," the report noted.

- IANS

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Reader Comments

R
Rohit P
While the numbers look impressive, I hope this growth is inclusive. We need to ensure small kirana stores aren't left behind. The report mentions coexistence, but the big platforms have all the advantage. Government policies should focus on creating a level playing field.
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Sarah B
The point about women feeling safer shopping online is so true. Being able to compare products, read reviews, and make purchases from home is a huge benefit. Quick commerce is a lifesaver for last-minute needs too! The future is definitely multi-channel.
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Aman W
Quick commerce at 100%+ growth is insane! But I worry about the delivery partners. This explosive growth must come with better working conditions and fair pay for them. Speed is great, but not at a human cost.
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Karthik V
The hybrid model is the way to go. I always check reviews and prices online, but for certain things like electronics or clothes, I prefer buying from a trusted local store after seeing the product. Best of both worlds!
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Nisha Z
Reaching ₹100 crore in 7 years instead of 11 shows how dynamic the market is. This will attract more startups and investment. But with great growth comes great responsibility - data privacy and consumer protection laws need to keep pace. 🚀

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