1. Rapid growth rate. 

India's e-commerce market is rising at an alarming rate, and the market size is expected to reach 400 billion US dollars by 2030. 

According to recent news released by consulting firm Redseer, with consumers becoming more dependent on online shopping and accelerating the digital transformation of consumer goods and retail enterprises, GMV (total merchandise trading volume) in India's e-commerce market has reached 60 billion US dollars in 2023, an increase of 22.5% from a year earlier.In the post-epidemic era, India's e-commerce market has been on the growth curve, and Indian e-commerce sales have soared 140% since 2020.

In fact, the GMV of Indian e-commerce was only $25 billion in 2020, an increase of 13.6% over 2019, while in 2021, the GMV of e-commerce increased by 44% to $36 billion. In 2022, its e-commerce industry continued to grow steadily, with an increase of 36.1%, exceeding US $49 billion.There is no denying that the new e-commerce star of India is rising at a lightning speed.

2. Full potential. 

At present, India's e-commerce market is still growing, showing unlimited potential for market development. 

In terms of traffic, India has a natural advantage and a large population, which makes it have a huge flow dividend. According to a report released by BCG and MatrixPartnersIndia, the total number of online shopping users in India has reached nearly 230 million, accounting for nearly 36 per cent of all Internet users. The report predicts that the number of online shopping users in India will reach 350 million-400m by 2025, which will bring considerable population flow dividends to the continued prosperity of India's e-commerce industry.

The restrictions on population movement in 2020 has become an important turning point in the development of e-commerce in India, and market demand has been pushed to a new high. India's online shopping spending will grow by less than $10 billion a year before 2020, $21 billion in 2021, $16 billion in 2022 and now between $50 billion and $55 billion.

All the above data show that India is becoming a new gold pool in the e-commerce market, and more and more e-commerce platforms and retail brands are competing to distribute the Indian market. After years of development, the Indian e-commerce market has reached a more mature stage. 

From the major e-commerce platforms and brands competing to dig gold in the Indian market, we can see that Indian e-commerce is rising rapidly. after all, for sellers, where the traffic is, the sales are there. Sellers should look at the timing, find their own brand positioning, and formulate corresponding business strategies for different levels of Indian market, in order to play the best effect of "1x 1 > 2".

Article Source: IT Business News Network