New Delhi, March 27 || Amid the rise in quick commerce, trend-first commerce and hyper-value commerce, India's e-retail market is projected to reach $170-$190 billion in gross merchandise value (GMV) by 2030, a report showed on Thursday.
The report highlighted India’s emergence as the second-largest e-retail shopper base globally, with an annual shopper base of over 270 million in 2024.
India's e-retail market is projected to scale 3 times by 2030 from the current $60 billion. The retail market, which was over $1 trillion in size in 2024, continues to be a critical channel even as the online channel grows, according to the report by Bain & Company and Flipkart.
By 2030, e-retail is projected to exceed 18 per cent growth with nearly one in 10 retail dollars spent online, fuelled by increased discretionary spending as India's per capita GDP surpasses $3,500-$4,000 -- a key inflection point observed in e-retail spending globally.
“The democratisation of the shopping landscape with widening access to national brands/ assortment in Tier-3+ cities and remote, underserved areas is a key driver of growth,” said Arpan Sheth, Partner, Bain & Company.