India's Ecommerce Shopper Base To Beat US: Report The report stated that the nation currently has the third-largest shopper base globally, with 180 to 190 million online shoppers in 2021, which is estimated an increase at 400 to 450 million by 2027
By Teena Jose •
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According to a report by consultancy firm Bain & Co and homegrown e-tailer Flipkart, it is said that the India's e-commerce is expected to grow at a rate of 25 to 30 per cent annually for the next five years, which will eventually increases the user base that is capable to beat the second-largest e-commerce shopper base, United States, in the next one or two years.
The report titled, 'How India shops online 2022', added that the nation currently has the third-largest shopper base globally, with 180 to 190 million online shoppers in 2021, which is estimated an increase at 400 to 450 million by 2027.
"With the pace of growth we are talking about, we are very soon going to be the second largest shopping base, only behind China," said Manan Bhasin, partner, Bain & Co, in a statement.
The report was penned by Arpan Sheth, Shyam Unnikrishnan, Manan Bhasin and Abhishek Raj. The authors have warned that the current inflationary environment might prove to be a short-term headwind for the market but the long-term outlook is robust thanks to structural drivers.
While moving forward, it is stated that the category mix in online commerce is expected to evolve, with growing demand for fashion, grocery and other categories as its reach widens across the country.
"Fashion will continue to be the gateway category for ecommerce going forward over the years as most of the time fashion products would be the first thing users buy online. The fashion segment is likely to increase from 20 to 25 per cent of overall ecommerce sales to 25 to 30 per cent," Bhasin added in the statement.
The report also mentioned that the Indian government is also playing a critical role in democratizing e-retail for India through the creation of the open network for digital commerce (ONDC).
