eCommerce in India has been exponentially increasing for the past few years and the pandemic accelerated this growth by multiple folds, bringing about a new digital revolution in the country. We analyzed the data around the nationwide eCommerce sales during 2019 and 2020 to predict the numbers for 2021.
Here's a report on the state of the Indian eCommerce as of today and what to expect in the near future.
As per our findings, the total eCommerce sales for the year 2021 are estimated to register anywhere in the range of $67-$84 Billion, a significant increase from the total eCommerce sales of last calendar year (2020). The total eCommerce sales touched a mark of $52.57 Billion in 2020, a significant 30% jump from the sales in 2019 that registered a total value of $40.44 Billion.
eCommerce sales during the festive season have been following a consistent upward trend for the last few years and this year will be no different. Despite a multi-month lockdown, the growth has been persistent and we expect to see the eCommerce retail sales clock $11-14 Billion during this festive season. Compared to last year, online sales during this festive season are likely to grow anywhere between 32-68%.
With a global pandemic looming at large, eCommerce saw a whopping 66% retail hike during the festive season last year. In 2019, the total eCommerce festive sales accounted for $5 Billion, which escalated to $8.3 Billion in 2020, owing to limited offline services during the first series of nationwide lockdowns.
In recent years, Electronics has emerged as the leading eCommerce category with maximum GMV share in total eCommerce sales for years 2019 and 2020. This is followed by Fashion & Apparel, Food & Groceries, Furniture & Appliances with an ever-increasing user base from Tier 2 and Tier 3 cities. In 2021, Electronics will remain the category champion followed by other major lifestyle segments. (Refer to the Infographic)
“We believe that eCommerce retail will continue to rise for the festive season of 2021, owing to the swiftly changing customer preferences and digital adoption by masses in the aftermath of a global pandemic. The numbers predict that revenue for digital commerce will continue to register a colossal YoY growth till 2026 and beyond. The festive season this year will contribute significantly towards this revenue growth enabling D2C brands to make up for any losses they might have incurred during the pandemic.“ said Swati Jindal, Co-Founder at EasyEcom.