India E-commerce Market Outlook

India’s ecommerce market outlook is a hot topic amongst industry professionals. the massive consumerism in india, coupled with the convenience and cost-savings online shopping provides is driving the surge in ecommerce sales. currently, india is the second biggest ecommerce market in the world. in 2018, the total value of ecommerce transactions was an estimated us$30 billion, compared to a previous year which had only us$19 billion. this rapid growth has been attributed largely to convenience, availability of a wide range of products and services, and competitive pricing. consumers in india are utilizing their smartphones and other handheld devices to purchase products and services online. many young shoppers are now turning to websites such as flipkart and amazon for their shopping needs. over the next decade, it is forecast that the ecommerce market in india will continue to grow substantially. over the next 5 years alone, it is predicted that the market will grow at 26.4% annually, and will be worth us$200 billion by 2023. this will be propelled by a number of factors, such as rising disposable incomes, improved internet access, and increased smartphone usage. furthermore, the government is taking a pro-active role in developing the nation’s digital infrastructure, with initiatives such as “digital india”, which is expected to add to the growth of the ecommerce market in india over the coming years. additionally, the introduction of technology such as artificial intelligence, machine learning and blockchain is opening up exciting new opportunities for ecommerce websites to grow. over the longer term, it is predicted that the indian ecommerce market will exceed us$1 trillion by 2032. this dramatic growth will be driven by increased adoption of digital payments, an increase in the number of rural consumers entering the online market, and ongoing improvements to internet access. overall, the economic outlook for the indian ecommerce market is bright. as internet access continues to improve, an increasing number of consumers to take advantage of the selection and convenience online shopping provides, and with the government’s effort to bring india’s digital infrastructure, the indian ecommerce market will continue to flourish.