Dublin, July 30, 2024 (GLOBE NEWSWIRE) — The “India Online Retail Forecast 2023-28” report has been added to ResearchAndMarkets.com’s offering.
The online retail in India is expected to grow at CAGR 19.6% from 2023-28 to reach $172.1 billion. The market is driven by growth in online grocery especially quick commerce, smartphone and fashion categories. Slowing overall market growth rate is a key concern among online retailers due to the issue of limited disposable income of large population in India.
Emergence of Quick Commerce
Powered by the growing adoption of 15-minute delivery option for grocery delivery quick commerce is expected to reach $6.9 billion by 2025 accounting for 50% of online grocery sales. Blinkit remains the largest player with 40% market share in 2023 followed by Swiggy Instamart and Zepto.
Mobile accounts for 82.3% of online retail sales in 2023
Smartphone is the preferred device for online shoppers in India accounting for 82.3% of total online retail sales. Mobile commerce (m-commerce) in India has witnessed continuous growth in recent years, driven by factors such as the widespread adoption of smartphones, increasing internet penetration, and government initiatives promoting digital payments.
Flipkart Leads in Market Share Followed by Amazon
Flipkart’s strong presence in the online smartphone and fashion categories make it the leading player in online retail with 32.4% market share followed by Amazon at 24.3% in 2023. However, Flipkart is facing competition in the fashion category from Meesho on the affordable pricing segment and Ajio in premium fashion category. Apart from this the emergence of quick commerce will also challenge the existing players during the coming festive season in 2024 where customers will have more options this time to purchase pre planned items for which they need quick delivery.
Report Coverage
This report offers a comprehensive view of the online retail market in India.
The forecast details online and offline growth for 11 product categories in South Korea along with sizing of mobile commerce and live commerce market.
The report provides historic and forecast data from 2009-23 for 11 categories in retail and online retail to understand the retail market in India.
The retail market in India is expected to grow at a CAGR of 19.8% between 2023-28 to reach $171.2 billion in 2028 from $69.9 billion in 2023. Online retail grew 22.7% to reach $69.9 billion in 2023 accounting for 8.4% of total retail sales.
Scope of the Report
- Total population – Historic and forecast data from 2009-23
- Online population – Historic and forecast data from 2009-23
- Online buyers – Historic and forecast data from 2009-23
- Online buyer for 11 categories
- Categories covered
- Computer hardware and software
- Consumer electronics
- Mobile
- Personal Care
- Media (books, music, and videos)
- Clothing
- Footwear, Luggage and Accessories
- Homeware and furniture
- Toys
- Grocery
- Appliances (personal and home)
- Total retail sales – Breakdown by 11 categories
- Online retail sales – Breakdown by 11 categories
- Online retail sales via mobile
- Category wise breakdown of retail sales via mobile
- Online retail market share
Deliverables
- Executive summary report of key findings (52 slides)
- Excel sheet with historic and forecast data
- Unlimited queries with analyst
- Analyst presentation customized for your team
Key Attributes
| Report Attribute | Details |
| No. of Pages | 84 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $69.9 Billion |
| Forecasted Market Value (USD) by 2028 | $172.1 Billion |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | India |
Key Topics Covered
- Executive summary
- Key definitions
- Category definitions
- India retail market forecast 2023-28
- India retail market Y-o-Y growth
- Total retail sales by category, 2023
- Total retail sales growth by category, 2023
- Frequency of online purchases, 2023
- Product categories purchased online, 2023
- Consumer electronics products purchased online, 2023
- Appliances purchased online, 2023
- Home decor and furniture products purchased online, 2023
- Beauty and personal care products purchased online, 2023
- Books and general merchandise products purchased online, 2023
- Lifestyle products purchased online, 2023
- Grocery items purchased online, 2023
- Preferred destination for consumer electronics and mobile, 2023
- Preferred destination for appliances and home, 2023
- Preferred destination for books & general merchandise, 2023
- Preferred destination for fashion, 2023
- Preferred destination for grocery, 2023
- Preferred fashion brand purchased online, 2023
- Preferred payment method for online shopping
- Online buyers forecast, 2023-28
- Online buyers by category, 2023
- Total online retail sales forecast, 2023-28
- Online retail sales by category, 2023
- Online retail as a percentage of total retail spending, 2023
- Online retail sales CAGR by category, 2023-28
- Online retail spending per online buyer
- Online retail spending per online buyer by category, 2023
- Total online retail sales by mobile and desktop
- Online retail sales market share by online retailers
- Quick Commerce Deep Dive
- What is quick commerce
- Why is quick commerce working?
- More people are interested in 10-minute grocery delivery
- Convenience winning over price
- More people are willing to pay extra for 10-minute grocery delivery
- Quality is still priority as compared to shorter delivery time
- Quick commerce landscape
- FMCG players betting big on quick commerce
- Nestle India’ growing E-commerce channel share
- Blinkit average monthly transacting customer
- Blinkit Gross Order Value and orders
- Rapid Scale up but limited to top 8 cities
- Quick commerce market forecast
- Festive Sales 2023 Deep Dive
- Methodology
- Executive summary
- Festive Season spending forecast, 2023
- When do customers plan to shop during the festive season?
- When do customers plan to shop during the festive season by city tiers?
- Percentage of your overall spending is expected during the first week of the festive period
- Online spending pattern during the festive season
- Online spending pattern during the festive season by city tiers
- Spending pattern during festive season by category
- Planned expected spending during the festive season
- Reasons to shop during the festive season
- Categories planned for purchasing during festive season
- items planned for purchasing during festive season
- Influence of ratings and review on marketplaces
- Preferred marketplaces for festive season 2023
- Preferred payment method
- Preferred marketplace for research
- Offline retail space addition
- Top reasons for visiting a shopping mall
Companies Featured
- Amazon
- Flipkart
- Meesho
- Myntra
- Blinkit
- Swiggy
- Zomato
- Nykaa
- Bigbasket
- Ajio
- Zara
For more information about this report visit https://www.researchandmarkets.com/r/7f685x
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- Indian Online Retail Market
