India's e- retail market to increase to $150 bn- $170 bn

Solution

According to the report titled How India Shops Online 2022 released by Bain & Company in collaboration with Flipkart,India’ s e- retail market is estimated to increase to $150 billion– $170 billion by 2027. This implies that 25 per cent– 30 per cent annual growth and a doubling of market penetration to 9 per cent– 10 per cent over the next five years.   India is well poised to surpass the US to have the second- largest shopper base ( only behind China) in the next one to two years.   India’ s online shopper base is estimated to increase to 400– 450 million by 2027, according to the report. Most of these shoppers are already in the digital funnel— 450– 500 million used social media while only 180– 190 million shopped online in 2021.     India currently has the third- largest shopper base globally, with 180– 190 million online shoppers in 2021. India’ s e- retail market rose to approximately $40 billion in 2021 and is slated to reach $50 billion in 2022.