Revenue of e-commerce market in India 2017-2029

In 2023, the revenue generated by the e-commerce market amounted to about 51 billion U.S. dollars in India. This market witnessed exponential growth, with rising internet penetration and smartphone usage across the country. It is projected that by 2029, the revenue from the e-commerce market will likely surpass 100 billion dollars.

E-commerce in India

The Indian e-commerce sector is anticipated to reach approximately 350 billion U.S. dollars by 2030, with Amazon and Flipkart emerging as the dominant players in this marketplace. Amazon leads in terms of monthly visits, while Flipkart, a domestic e-commerce platform, demonstrated a steady increase in its revenue. These trends are indicative of the digital transformation in the country’s retail sector.

Consumer preference

As the digital buyer base in India is expected to surpass 420 million by 2027, the transition to online shopping presents its own set of challenges. A notable number of Indian consumers still prefer the traditional retail experience, where they can physically inspect products and benefit from the guidance of salespersons. Despite these challenges, the adaptability of the e-commerce sector is paving the way for a more customer-centric retail experience.