eCommerce is growing, that is no surprise. Here are some interesting numbers from India!
- The market size of the eCommerce industry in India is forecasted to reach USD 200 billion by 2027 (Statista).
- The number of eCommerce users is expected to reach 950 million by 2025; a user penetration of 65% (Statista).
- Even pre-covid, 85% of millennials are willing to buy on the internet, without seeing a product first (Global X ETFs, July 2019)
- The eCommerce sales in India for October 2021 season was clocked at USD 4.6 billion (Ibef).
- Consumer Electronics (40%), Fashion & Apparels (40%), Food & Grocery (7%), Jewellery (7%) accounted for most value in 2020 (Ibef).
- India's Social Commerce, at USD 1.5 billion today, is expected to hit USD 70 billion in 2030 (Bain).
- For 75% of users who never purchased online, lack of trust about finding the right products is the biggest impediment to shopping online (Bain).
- eCommerce funding grew by 600% in 2021 (Inc42).
