Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "India Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
E-commerce market in India is expected to grow by 9.65% on annual basis to reach US$117.6 billion in 2024. Medium to long term growth story of E-commerce industry in India promises to be attractive . The E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 8.08% during 2024-2028. The E-commerce Gross Merchandise Value in the country will increase from US$107.3 billion in 2023 to reach US$160.5 billion by 2028.
This report provides a detailed data centric analysis of E-commerce market dynamics, covering over 100 KPIs in India. It details market opportunity across key B2C verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer).
In addition, it provides spending pattern by payment instruments along with a snapshot of consumer behaviour in India. The report also covers niche trends such as market size by live streaming engagement model and cross border purchases. It also covers ecommerce spend share by operating systems, device (mobile vs desktop) and cities.
The B2C e-commerce market is expected to report strong growth in India over the medium term. An increasingly digital consumer base is driving the trend of online shopping in the Indian market. New-age startups, with the use of technology, are seeking to penetrate the rural markets to aid sales and revenue growth. This is driving the competitive landscape in the sector.
Amid the surge in online shopping, both existing firms and new-age startups are raising capital rounds. The trend is projected to gain further momentum in the Indian e-commerce market in 2024. Food and grocery delivery platforms, on the other hand, are eyeing profitability over the medium term. Overall, the publisher maintains a positive growth outlook for the B2C e-commerce market in India over the next three to four years.
E-commerce platforms are seeking to raise capital for accelerating growth in the Indian market
The surge in online shopping is projected to continue over the medium term, with millions of new shoppers entering the market. This will drive industry growth over the next three to four years, and as a result, firms are seeking to raise capital to drive sales and revenue growth.
- Flipkart, for instance, is in talks to raise US$1 billion in a new funding round to accelerate growth. Walmart, which is the biggest shareholder in Flipkart, has committed to invest US$600 million in the Indian e-commerce giant. Flipkart has been rapidly expanding its presence in smaller towns and cities in India, unlike Amazon. With digital shoppers growing at a rapid rate outside Tier I and II cities, the publisher expects Flipkart to further increase its investment in Tier III and IV cities of India over the medium term.
- BuyEazzy, a beauty-focused e-commerce startup in India, also announced that the firm had raised US$4.25 million in a funding round in January 2024. The Series A round was led by Info Edge Ventures and included participation from M Venture Partners, and Incubate Fund Asia. The startup is planning to use the fresh capital for expansion and product enhancement. Over the next 15 months, the firm is planning to build a presence in 40 cities and onboard two million users.
Going forward, the publisher expects more such existing firms and startups to raise funding rounds from venture capital and private equity firms. This will support the market growth over the next three to four years in India.
Food and grocery delivery platforms are eyeing profitability in the Indian market over the medium term
Although more and more consumers are transacting on food and grocery delivery platforms, profitability has remained a concern among investors in the sector. These platforms, however, are now targeting profitability in the Indian market over the medium term.
- BigBasket, one of the leading players in the segment, is seeking to turn profitable in H2 2024. According to the firm, the slotted delivery business is already profitable. The BB Daily vertical is also close to profitability. The quick commerce vertical BB Now, however, is some distance away from profitability. The firm has introduced private-label products to drive gross margins. However, as the instant grocery delivery business is essential to the low order value, it is difficult to scale. Going forward, the firm is also considering building an offline presence significantly, enabling the firm to drive higher revenue over the long term.
- Swiggy, one of the leading food delivery platforms in India, is also eyeing to trim losses ahead of its initial public offering. The firm, for instance, has begun testing new platform fees for some of its users in Bengaluru. Swiggy, in H1 2024, might double the platform fee from INR 5 to INR 10. With these platforms delivering 1.5 to 2 million orders every day, any hike in platform fees can result in significant revenue growth over the medium term, thus trimming losses. Swiggy, notably, isn't the only firm to adopt a platform fee hike strategy. Zomato, in 2023, hiked the platform fee after Swiggy introduced an INR 2 platform fee.
With India being a price-sensitive market, a significant surge in platform fees can result in lower order volume for these food delivery platforms in the long term. Going forward, the publisher expects more firms to adopt strategic measures to trim losses while targeting higher profitability in their respective sectors.
Scope
- India Ecommerce Market Size and Future Growth Dynamics
- India User Statistics and Ratios of Key Performance Indicators
- Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis
- Market Size and Forecast by Retail Shopping Sales Channel
- Market Share by Travel and Hospitality Sales Channel
- Market Size and Forecast by Online Food Service Sales Channel
- Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)
- Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis
- Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis
- Market Size and Forecast by Operating System
- Market Size and Forecast by City
- Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)
- Consumer Demographics
India Ecommerce Market Share
RetailKey Players
- Amazon
- Coles
- Kmart
- Myer
- Woolworths
Travel Key Players
- Expedia
- Lux Group
- Shebah
- Uber Taxi
- Webjet
Food Service Key Players
- Deliveroo
- Doordash
- Menulog
- OpenTable
- Uber Eats
For more information about this report visit https://www.researchandmarkets.com/r/a8e80s
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