The Indian e-retail market has seen an upsurge over the past five years, and there is significant headroom for further growth, indicates research firm Bain & Company.
The $850-billion Indian retail market is the fourth largest in the world and is largely unorganised. And this market is on the cusp of a transformation, led by the emergence of e-retail and its growing influence on Indian shoppers.
Based on insights into the global evolution of e-retail, Bain & Company expects the Indian e-retail industry to reach a massive scale. This growth will be spurred by cheap, ubiquitous mobile data enabling nearly one billion internet users by 2030, growing online spending by digital natives; and supply-side innovations such as vernacular-based user interfaces, voice and visual search.
The Indian e-retail market is primed to reach nearly 300-350 million shoppers over the next five years, propelling the online gross merchandise value to $100-120 billion by 2025.