India’s e-commerce market to surpass $91B in 3 years

The retailers support the cost-consciousness of the customers by providing such benefits as discounts, cash-back, and loyalty points

India's e-commerce market

India’s e-commerce market to surpass $91B in 3 years. Source: shutterstock.com

According to GlobalData, the total value of the Indian e-commerce market is projected to increase from $49 billion in 2019 to $91 billion in 2023.

The rise of Internet penetration rates, discounts, and faster delivery options are believed to be major support of the growth. In addition to that, the rising consumer preference for online shopping benefits the Indian e-commerce market as well.

Along with rising Indian shoppers going online, the government has also made efforts to boost the country’s e-commerce market with initiatives such as Startup India, Make in India and Digital India; all of which have contributed positively towards the growth of the e-commerce industry
Shivani Gupta, Senior Banking and Payments Analyst at GlobalData

Retailers are boosting their product lines to further penetrate the market. For instance, in spring 2019, Flipkart launched an online grocery store, extending its presence from fast-moving consumer goods to groceries.

SEE ALSO: