Retail & E-commerce

The Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest e-commerce market in the world by 2034. The E-commerce market is expected to reach US$ 200 billion by 2027 from US$ 38.5 billion in 2017. India's e-commerce market has the potential to grow more than four folds to US$ 150 billion by 2022 supported by rising incomes and surge in internet users. Online shoppers in India are expected to reach 120 million in 2018 and eventually 220 million by 2025. Average online retail spending in India was US$ 224 per user in 2017.

The e-commerce market has changed the way business is transacted, whether in retail or business-to-business, locally or globally. Prior to the Internet, success in retail was said to hinge on location, location and location. Now, the Internet is a global marketplace, affording even the smallest retailer a national -- if not a global -- presence. Brick-and-mortar locations now have websites, and new companies now sell products that were unthinkable prior to the Internet and the boom in related technology. The scope of the e-commerce marketplace is difficult to measure. The e-commerce market has become such a vital part of the economy that is difficult to pinpoint exactly where e-commerce begins and the old world economy ends.