[vc_row][vc_column][vc_column_text woodmart_inline=”no” text_larger=”no”]The e-commerce market in India is rapidly growing, and it is expected to continue its upward trajectory in the coming years. According to a report by the Indian Brand Equity Foundation, the e-commerce market in India was valued at USD 63 billion in 2020, and it is projected to reach USD 200 billion by 2026, growing at a CAGR of 19.4% during the forecast period.
The growth of e-commerce in India is being driven by several factors, including increasing internet penetration, the growing popularity of smartphones, rising disposable incomes, and the increasing number of consumers shopping online. Additionally, the COVID-19 pandemic has accelerated the shift to e-commerce, with many consumers choosing to shop online rather than in physical stores.
The report also states that the e-commerce market in India is dominated by the online retail segment, which accounted for 67% of the market in 2020. However, other segments such as online travel and digital media are also growing rapidly.
In terms of product categories, electronics and fashion are the largest segments in the Indian e-commerce market, followed by home and furniture, and food and grocery. The report also highlights that the rise of digital payments and the government’s push towards a cashless economy are further driving the growth of e-commerce in India.
Overall, the market size of e-commerce in India is significant and offers a significant opportunity for businesses to tap into a growing and rapidly evolving market[/vc_column_text][/vc_column][/vc_row]