India will have 350 mn e-commerce users by 2025, says the report by WPP’s GroupM and Wunderman Thompson with Amazon Ads. This is almost 2.5 times higher than the statistics in 2020. The report also says that India’s e-commerce users will grow at 23% CAGR by 2030, reaching 500 Mn.
In fact, by 2025, about 33 per cent of all internet users will rely on the internet for shopping. BY 2030, the ratio would double to 46%. In 2020, it was 20%.
Interestingly, about 80% of India’s urban internet users use e-commerce portals for online product research. Most of them depend on the internet for offline purchases as well. The voice and vernacular searches on e-commerce websites have grown 255% and 136% respectively in 2021. All of these indicate the significance of e-commerce portals in the customer journey.
By 2030, India’s e-commerce market would rise to $400 bn. This also means good times are ahead for e-commerce startups in India. India’s e-commerce startup ecosystem has 24 unicorns and nine soonicorns among 5,127 active startups. As per TRAI’s data, India had over 788 mn internet users as of March 31, 2022, which means about 60 per cent of India’s population access the internet. This has resulted in the boom of the e-commerce market. In a nutshell, if all goes well, India’s e-commerce market will make a good fortune in future.
