India Online Retail Market to Grow at a Double Digit Growth Rate Until 2025
Rising income &
purchasing power, increasing internet access and changing consumer preference to
drive India online retail market through 2025
According
to TechSci Research report, “India
Online Retail Market By Segment, By Region, Competition, Forecast &
Opportunities, 2025”, the online retail market in India
is anticipated to grow at double digit CAGR during the forecast period which
can be attributed to the increasing proliferation of smartphones and growing
penetration of internet in the country. With increasing internet subscribers
and growing disposable income, Indian online retail market has started
attracting customers from tier 2 and tier 3 cities as well which was earlier
limited to tier 1 cities. This is anticipated to further drive the growth of
online retail market in India over the next five years.
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India online retail market can be segmented based on segment, and region.
Based on segment, market can be segregated into men, women, kids & babies,
electronics & appliances, home & furniture, among others. In the last
few years, electronics and appliances segment witnessed notable growth due to
discounts and cashbacks offered on purchase of products online and launch of
several products including smartphone on e-commerce before stores as online
partners. In men and women segments, clothing is the dominant segment which has
significantly affected offline retailers present in the market, for instance,
Future group, Reliance retail, Tata’s trent, among others. As a result, offline
retailers have either their e-commerce sites underway or have already launched
their online stores in order to benefit from the booming online retail market.
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Flipkart
Internet Private Limited, Myntra Designs Private Ltd., Amazon Retail India
Private Limited, One97 Communication Limited, Snapdeal Private Limited, Jade
eServices Private Limited (Jabong.com), Nykaa E-Retail Pvt Ltd, Brainbees
Solutions Pvt Ltd (Firstcry.com), eBay India, Infibeam Avenues Ltd., among
others are the leading players operating in the India online retail market. The
companies operating in the market are using growth strategies such as product
launches and mergers and acquisitions to increase their
share in the market.
“India online retail market is predicted to
grow at a double digit CAGR during the forecast period on account of growing
preference for purchasing products online rather than retail stores. With plethora
of options to choose from, extensive use of advertisements & presence on
social media, fast delivery, products at huge discounts and easy return policies,
among others are anticipated to positively influence the growth of online
retail market in the country through 2025.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Online Retail Market By Segment, By Region,
Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of India online
retail market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decision. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the India online retail market.
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