The Indian e-retail market is primed to reach nearly 300 to 350 million shoppers over the next five years—propelling the online Gross Merchandise Value (GMV) to $100 to 120 billion by 2025. I bring you highlights from a report published by Bain and Company in collaboration with Flipkart.
E-Commerce has seen an upsurge in the last five years with online retail penetration currently at 3.4%, indicating a strong headroom for further growth.
97% postal codes in India ordered at least 1 item online in the last year
Empowers Bharat’s small sellers while breaking go-to-market barriers for insurgent and incumbent brands.
Small town India is turbo-charging growth and accounts for 3 of every 5 online orders
Worldwide, e-retail has witnessed a predictable growth trajectory, starting with an increase in shopper penetration triggered by a sharp drop in data prices. This was followed by an increase in shopping frequency, which led to a higher spending per customer.
India’s e-retail market is at a point of inflection with a steep drop in data prices in the past few years. It is expected to grow at a CAGR of 30-35% over the next 5 Years
Many digital native brands have grown swiftly – There are many brands across categories which have reached Rs 100 crores in sales in less than 3-5 Years Examples: BoAT, Mama Earth, Liscious etc
If you are running an e-commerce brand, think now on scaling up exponentially. And if you are sitting on the fence thinking about entrepreneurship, this is the right time to take your idea to the masses. Watch this space for more insights on e-commerce trends , entrepreneurship and Business planning.