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1、 INC42 MEDIA|NOT FOR DISTRIBUTION /1 STATE OF THE INDIAN ECOMMERCEQ4-2023Online Festival SalesInFocusPOWERED BY01020304TABLE OF CONTENTSTABLE OF CONTENTSINDIAS DIGITAL ECONOMYECOMMERCE MARKET IN INDIA:A SNAPSHOTINDIAS ECOMMERCE LANDSCAPEECOMMERCE MARKET IN INDIA05060709HOW INDIAN ECOMMERCE ECOSYSTEM
2、S STACK UP AGAINST THE US&CHINAINDIAN ECOMMERCE STARTUP ECOSYSTEM IN Q3 2023ECOMMERCE IN INDIA:STARTUP FUNDING TRENDS08CONSUMER TRUST THE BIGGEST FRONTIER OF GROWTH FOR D2C BRANDSINFOCUS:ONLINE FESTIVE SALES 2023101112YEAR-ON-YEAR GMV OF ONLINE FESTIVE SALESCUSTOMER EXPERIENCE ANALYSIS:NOTABLE MARKE
3、TPLACES DURING FESTIVE SALES 2023KEY GROWTH DRIVERS OF ONLINE FESTIVE SHOPPING IN INDIA INC42 MEDIA|NOT FOR DISTRIBUTION /3 India To Have 900 Mn+Active Internet Users By 2025By 2025,56%of all new internet users will be from rural areas,and 65%of new internet users will be female2022931 Mn+759 Mn+360
4、 Mn+399 Mn+1.1 Bn+900 Mn+396 Mn+504 Mn+22%52%19%10%26%Smartphone usersInternet Penetration(Active Users)71%Urban Internet Penetration(Active Users)$0.16Cost Of 1GB Internet7K+5G Enabled Indian Cities/towns395 MnNumber Of Male Internet Users349 MnNumber Of Female Internet UsersInternet usersUrban int
5、ernet usersRural internet users2025(E)%Growth(Absolute)SOURCE:IAMAI,INC42 ANALYSISEcommerce Market In India:A SnapshotMarket Opportunity(2030)$400 Bn+CAGR(2022 to 2030)19%The Most Lucrative Segment(2030)Fashion&Apparel$11 Bn+Total GMV Of Online Festival Sales(2023)Total Funding(2014 to Q3 2023)$33 B
6、n+Funding CAGR(2019 to 2022)15%Active Ecommerce Startups5.1K+Funded Ecommerce Startups850+Unicorns In India25Soonicorns In India15Combined Valuation Of Unicorns$89 Bn+Combined Valuation Of Soonicorns$13 Bn+MARKET OPPORTUNITYVENTURE CAPITALUNICORNS&SOONICORNSSource:Inc42 INC42 MEDIA|NOT FOR DISTRIBUT
7、ION /4 Indias Ecommerce LandscapeB2C ECOMMERCEB2B ECOMMERCED2CRECOMMERCEROLL UPSAFFILIATESSource:Inc42Note:This is not an exhaustive list INC42 MEDIA|NOT FOR DISTRIBUTION /5 Ecommerce Market In India:Decoding The$400 Bn Market OpportunityMarket Size(2022)$100 Bn+$20 Bn+$33 Bn+$20 Bn+$11 Bn+$4 Bn+$6
8、Bn+$5 Bn+Overall Ecommerce MarketFashion&ApparelSmartphonesElectronics&AppliancesFood&FMCGBeauty&Personal CareFurniture&Home DcorOthersMarket Size(2030)$400 Bn+$112 Bn+$72 Bn+$68 Bn+$68 Bn+$28 Bn+$24 Bn+$28 Bn+CAGR(2022-2030)19%24%10%16%25%27%19%19%Source:Inc42,BCG,Other secondary sourcesNote:The ma
9、rket size depicted here is the estimated total addressable market for D2C players in India.INC42 MEDIA|NOT FOR DISTRIBUTION /6 India To Have 500 Mn+Online Shoppers By 2030Paid users expected to grow at 12%CAGR from 030040050020222023202420252026202720282029203012%Source:Inc42,Bain and
10、 Flipkart Report 2020 INC42 MEDIA|NOT FOR DISTRIBUTION /7 How Indian Ecommerce Startup Economy Stack Up Against The US&ChinaTotal Funding(2014 to Q3 2023)3-Year-Funding CAGR(2019-2022)Number Of UnicornsNumber Of Online Shoppers(2030)Market Opportunity(2030)$33 Bn+15%25500 Mn+$400 Bn+$70 Bn+12%28+980
11、 Mn+$6 Tn+$130 Bn+70%36+300 Mn+$1.5 Tn+IndiaChinaUSASource:Inc42,CB Insights,Failory INC42 MEDIA|NOT FOR DISTRIBUTION /8 Indian Ecommerce Startup Ecosystem In Q3 2023Total Funding RaisedMedian Ticket Size Of Investments$224 Mn+$1.3 Mn+Year-on-Year Decrease In Total Funding AmountYear-on-Year Decreas
12、e In Median Ticket Size-47%-32%Total Funding Raised At Seed StageTotal Funding Raised At Growth Stage$29 Mn+$113 Mn+Year-on-year Increase In Total Seed Funding AmountYear-On-year Decrease In Growth Funding11%-47%Source:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /9 Top 10 Biggest Ecommerce Funding Rounds
13、 In Q3 2023Startup NameSector D2CD2CD2CB2C EcommerceD2CB2B EcommerceD2CAffiliateD2CD2CFunding Stage Late StageGrowth StageGrowth StageLate StageGrowth StageBridge StageGrowth StageBridge StageGrowth StageSeed StageInvestorsRound Size$37 Mn$35 Mn$33 Mn$23 Mn$20 Mn$10 Mn$9 Mn$6.7 Mn$5 Mn$4 MnSource:In
14、c42Note:This table is based on the deals recorded in Inc42s internal databaseSujeet KumarN/ARevant Bhate,Utkrishta Kumar,Asish Mohapatra INC42 MEDIA|NOT FOR DISTRIBUTION /10$33 Bn+Raised By Indian Ecommerce Startups Since 2014Cumulative Funding Amount($Bn)Deal Count0.010.020.030.040.00500
15、0200020202120222023Funding Amount($Bn)Deal CountSource:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /11$224 Mn+Raised By Indian Ecommerce Startups In Q3 2023Compared to the previous year(Q3,2022)both the funding amount and deal count plunged 47%and 26%respectivelyFunding Amount($Mn)D
16、eal Count02,0004,0006,0000255075100125Q1-2020Q2-2020Q3-2020Q4-2020Q1-2021Q2-2021Q3-2021Q4-2021Q1-2022Q2-2022Q3-2022Q4-2022Q1-2023Q2-2023Q3-2023Funding Amount($Mn)Deal CountSource:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /12 Eyes Off Marketplaces:Investor Enthusiasm Moves Towards D2C And B2B EcommerceT
17、he dominance of two major players(Flipkart and Amazon)has played a significant role in diverting investor interest from the saturated horizontal marketplace model3-Year-CAGR(2019-2022)-40%-20%0%20%40%60%D2CB2B EcommerceB2C Ecommerce(Marketplace)Funding AmountDeal CountSource:Inc42 INC42 MEDIA|NOT FO
18、R DISTRIBUTION /13 D2C&B2B Ecommerce Emerged As The Most Funded Sub-Sectors WithinEcommerce190(84.9%)D2CB2B EcommerceAffiliatesB2C Ecommerce$224 Mn+Funding Amount 25(11.1%)D2CB2B EcommerceB2C EcommerceAffiliates52+Deal Count7(13.5%)11(21.2%)33(63.5%)Source:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /14
19、2023s Mega Deals:Investors Favor Fintech Over Ecommerce For Big Cheques InvestmentsIn contrast to 2021&2022,mega deals in ecommerce startups were 73%lower compared to fintech in 2023Mega Deal Count($100 Mn or above)0552000222023(Q1-Q3)EcommerceFintechSource:Inc42 INC
20、42 MEDIA|NOT FOR DISTRIBUTION /16 Median Ticket Size Of Indian Ecommerce Investments Drop By 32%YoY In Q3 2023From 2020 onward,ecommerce investments look better valued,contrasting with fintechs larger median ticket sizeMedian Funding Amount($Mn)0.02.04.06.08.010.0Q1-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2
21、021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023EcommerceFintechOverall EcosystemSource:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /17 Red Flags For Ecommerce Investments In Q3 2023,Yet Seed Stage Bucks The TrendD2C startups accounted for 54%of all investment deals in
22、the ecommerce sector,signaling the sustained long-term growth potential in the Indian D2C marketFunding AmountInvestment StageYoY Change%$29 Mn+Growth StageBridge FundingDeal Count28+11%YoY Change%-13%$22 Mn+8-40%-50%$78 Mn+12-63%-37%-20%$95 Mn+3-50%Source:Inc42Seed StageLate Stage INC42 MEDIA|NOT F
23、OR DISTRIBUTION /18 Delhi NCR&Bengaluru Were The Top Ecommerce Startup Hubs In Q3 2023D2C brands were the most popular choice among investors in both Delhi NCR&BengaluruDeal CountTop 5 Startup HubsDelhi NCRMumbaiBengaluruAhmedabadPune05101520Funding Amount($Mn)Top 5 Startup HubsBengaluruMumbaiDelhi
24、NCRPuneAhmedabad0255075100125Source:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /19 136+M&As Recorded By India Ecommerce Startups Between 2014&Q3 2023 Cumulative M&A Deal Count050000222023(Q1-Q3)Source:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /20 Comparative Growth:Q3 2023
25、Reveals An Uptick In M&As Among IndianEcommerce StartupsCompared to Q2 2023,ecommerce startups recorded 2.2x higher deals in Q3 2023M&A Deal Count0510152025Q1-2021Q2-2021Q3-2021Q4-2021Q1-2022Q2-2022Q3-2022Q4-2022Q1-2023Q2-2023Q3-2023Source:Inc42 INC42 MEDIA|NOT FOR DISTRIBUTION /21 Investors Backing
26、 Indian Ecommerce Startups In Q3 2023Startup NameInvestor TypeVC FirmVC FirmAccelerator/IncubatorVC FirmAccelerator/IncubatorVC FirmVC FirmVC FirmAngel FundVC FirmNotable Startups FundedDeal Count2333233223Source:Inc42 Note:This list isnt a ranking of any kind.INC42 MEDIA|NOT FOR DISTRIBUTION /22 KH
27、ANAZK.ACXO-SimplConsumer Trust The Biggest Frontier Of Growth For D2C BrandsTrust is the foundation of commerce.Commerce only happens when trust is established between buyer,seller and the product.In conventional brick-and-mortar commerce,trust is built through physical interactions and relationship
28、s.Ecommerce is obviously different,disruptive to the traditional“first trust,then buy”format of commerce.It is structurally built on“buy first and then trust”principle.If your brand website were a physical retail store,your customers have to pay before they can go to the trial room.Fixing this is at
29、 the heart of unlocking ecommerces full potential.In ecommerce,where virtual touchpoints replace face-to-face interactions,the foundation of trust has to be built through deliberate interventions,both tactical and strategic.Every aspect matters from the content on the website to the seamless experie
30、nce offered by the checkout process,from the quality of the customer service to the endorsements from influencers.Each touchpoint becomes an opportunity to build and reinforce trust with your consumers.As of April 2023,Amazon led as the top global online marketplace with 4.8 Bn monthly visits and ov
31、er 250 Mn loyal Prime members who account for the lions share of their GMV.They did this by investing billions of dollars over decades in establishing a predictable,standardised consumer-backwards platform-from UX,pricing,delivery,payments,and buyer protection.With Amazon,you always know where to go
32、 and what to expect if you have an order issue,payment failure or defective product.Predictability is how you win trust.However,for D2C brands,marketplaces are a double-edged sword.At the same time,it gives you immediate scale;building brand and customer loyalty is almost impossible.D2C brands need
33、to offer a similar,if not better,trust first experience as marketplaces to improve conversions on your website.Crucial considerations for D2C brands seeking to establish trust include:INC42 MEDIA|NOT FOR DISTRIBUTION /23 Website User InterfaceYour websites user interface acts as the main entry point
34、 for customers to understand your offerings and why they should choose you directly.Think of your website as your physical store,the shopping experience in a store directly impacts the conversions.Designing for trust means building a user journey prioritising customer experience from discovery,check
35、out and post-purchase.Over-indexing key trust markers like return and refund policies,integrating your influencer content on the website,verified honest customer reviews etc.Thoughtful,high-resolution website design and product images are synonymous with“authenticity”and hence“trust”in the consumers
36、 mind.0Effective Customer Relationship Management(CRM)Acquiring a new customer costs five times more than retaining an existing one.To maximise this,gather data from various sources(email,social media,websites)and centralise it.Leverage each stage of the customer lifecycle as a unique marketing oppo
37、rtunity,crafting tailored campaigns like welcome,abandoned cart,dormant customer,and feedback journeys.A CRM with a journey builder streamlines this process.The right CRM links front and back-office applications,granting a comprehensive customer view.Leverage this capability within your D2C brand to
38、 demonstrate genuine care for your customers needs,fostering trust and loyalty.A Seamless,Trusted Checkout ProcessEvery new customer on a D2C website/app has to create an account,fill in addresses and pay before they have a conviction on the brand.They dont know if their payments are secure and what
39、 to do if something were to go wrong with their order.On marketplaces,these are standardised and predictable.The average cart abandonment rate on a D2C website is 70%,of which almost half are abandoned due to high friction(account creation,address etc).That is where full-stack checkout and post-chec
40、kout solutions like Simpl help.Simpl is a decentralized marketplace that enables a standardized 1-tap checkout across its network of 24,000 merchants.Powered by Simpls proprietary khata products consumers are able to shop across its network in 1-tap without having to login every single time on a new
41、 brand and enter address,payment details and OTP.Once the order is placed customers can track their orders and seek issue resolution through Simpls AI enabled customer support ecosystem.Brands that use Simpl have seen up to 87%increase in conversions and 66%reduction in returns ad up to 34%increase
42、AoVs across 55 different categories.Simpl now powers nearly 1,000 D2C brands across 55 categories such as fashion,footwear,personal care,wellness,travel,home decor,electronics and more.INC42 MEDIA|NOT FOR DISTRIBUTION /24 Using AI For Conversational CommerceAI helps suggest additional items for purc
43、hase based on what customers have browsed or bought before.This digital shift has made it quicker for customers to decide what to buy,leading D2C brands to focus on creating smooth shopping experiences across different websites and apps.In D2C marketing,new technologies like automated chatbots have
44、cut down waiting times,making it easier to get and keep customers.For instance,when shopping for clothing,AI can assist customers in selecting the accurate size by utilising measurements,streamlining the decision-making process,and clarifying return policies.Another case in point is Lenskart,which r
45、evolutionised the eyewear industry through tech-driven innovations.0Data Reporting And VisualisationSelling products directly to consumers means you get important information about customers and products.However,understanding this data is crucial.It uncovers hidden insights which helps build innovat
46、ive strategies that meet customer needs.Having explored the technological aspects,lets delve into effective marketing and strategies that foster stronger communication and trust with consumers.Performance Marketing Or Influencer?With around 70%of D2C brands actively engaged on social media platforms
47、,its essential to consider our audiences limited screen time.Every brand vies for a share of this time,whether through performance marketing or influencer collaborations.An important aspect of marketing is the creatives used in the process,just talking about the product might not be enough,it gets i
48、mportant to educate your customer on why your product is best suited to deliver what it promises to do.Using Influencers to market your product has proven to be a great way to build trust.Influencers often share their honest opinions and experiences with their followers,which can help potential cust
49、omers feel more confident about their purchasing decisions.This type of content is often more relatable and authentic than traditional advertising,which can help build trust with potential customers.INC42 MEDIA|NOT FOR DISTRIBUTION /25 Building A Community For YourselfCreating a community is importa
50、nt for gaining brand supporters.Nykaa did this well.They built a lively community of beauty lovers online.With 17 Mn users each month and over$247 Mn in revenue in FY21,Nykaa became a trusted place for beauty advice and products.Using platforms like Instagram,Facebook,and YouTube,Nykaa shared useful
51、 content,earning the trust of loyal customers who relied on their suggestions.This approach made Nykaa a leading beauty and wellness platform in India.In conclusion,theres no one-size-fits-all strategy for success in the D2C market.Yet,by implementing effective strategies and utilising the right too
52、ls for marketing,analytics,AI,and continuous innovation,brands can pave the way for trust,profitability,and sustained growth.0Storytelling,Content Marketing&User-GeneratedContentCrafting an impactful narrative and embracing thought leadership is pivotal for your brands identity.Engage your audience
53、through compelling storytelling,content marketing,and user-generated content.Utilise various mediums like blogs,videos,infographics,and social media to educate,entertain,and forge connections.Establish yourself as an authority in your industry by delivering engaging and informative content that reso
54、nates with your audience.This approach will not only strengthen your brands identity but also build lasting connections with your audience.For instance,Mamaearth,which specialises in natural baby and mother care products,effectively amplified its reach and credibility through strategic influencer pa
55、rtnerships.While influencer collaborations helped boost credibility,leading brands also attract consumers through performance marketing tactics.Hence,this area demands experimentation for brands to align their objectives and strategies accordingly.INC42 MEDIA|NOT FOR DISTRIBUTION /26 State Of Ecomme
56、rce Unicorns&Soonicorns In IndiaEcommerce UnicornsCombined ValuationCombined Total Funding25$89 Bn+$28 Bn+Top HubsEcommerce SoonicornsCombined ValuationCombined Total Funding15$5.6 Bn+$2.2 Bn+0905 B2B Ecommerce04 D2CTop Subsectors07 D2C04 B2B Ecommerce03 B2C EcommerceTop Subsectors14 Delhi NCR06 Ben
57、galuru 03 MumbaiTopHubs07 Mumbai04 Bengaluru03 Delhi NCRSource:Inc42B2C Ecommerce INC42 MEDIA|NOT FOR DISTRIBUTION /27 CarTrade is the best performing Indian ecommerce stock this calendar yearStock Performance Of Listed Indian Ecommerce CompaniesNYKAAINDIAMART171.502,809.35+16.35+645.6710.54%29.84%M
58、AMAEARTHCARTRADE420.70767.75+83.60+292.6529.80%61.60%Last Traded Price(LTP)(YTD)Price diff.(YTD)%change80%60%40%20%0%-40%-20%FEB 2023MAY 2023JUN 2023AUG 2023OCT 2023DAILY STOCK PRICE CHANGE%Source:NSE,Inc42 calculationsNote:YTD data is up to 19 December 2023 INC42 MEDIA|NOT FOR DISTRIBUTION /28 InFo
59、cusOnline Festive SalesIndias Online Festive Sales 2023:Key Highlights$11 Bn+Total Gross Merchandise Value20%Three Year CAGR Of GMVElectronics Most Sought After CategoryValue For Money Decisive Factor For Purchase Decision MakingDelivery Experience Key Concern For Shoppers55%Online Shoppers Were Sat
60、isfied With Deals Offered by Flipkart43%Online Shoppers Were Satisfied With Deals Offered by Amazon Source:Inc42 Analysis,Clootrack,Redseer INC42 MEDIA|NOT FOR DISTRIBUTION /30$11 Bn+GMV Of Indian Online Festival Sales In 2023The GMV of online festival sales is growing at a three year compounded ann
61、ual growth rate of 20%Total GMV($Bn)02468120222023CAGR:20%Source:RedseerNote:Festive sales months are from October first week to Diwali for all years|INR to USD exchange rate is 80 for all years INC42 MEDIA|NOT FOR DISTRIBUTION /31 Most Popular Categories During Online Festive Sales Top P
62、roduct Category SmartphoneWomens apparelFurnitureSkincareLarge appliancesToys-ElectronicsFashionHome FurnishingsBeauty&Personal CareAppliancesToys&GamesOthersTotal GMV(2023)$4.7 Bn$2.8 Bn$1.1 Bn$904 Mn$791 Mn$565 Mn$339 Mn%Share42%25%10%8%7%5%3%Electronics emerged as the most popular category,fueled
63、 by the demand for smartphones and television,which accounted nearly half of the total sales during the festive seasonSource:Inc42 Analysis,Redseer,Other Secondary SourcesNote:Festive sales months are from October first week to Diwali for all years|INR to USD exchange rate is 80 for all years INC42
64、MEDIA|NOT FOR DISTRIBUTION /32 Online Festive Sales 2023:What Drives Customer Attention?Indian online shoppers prioritise value for money over massive discount offersDelighters:Customer Sentiment Score(0 to 10)Price&ValueCustomer SatisfactionDiscount Offer02468Source:Clootrack,Inc42 AnalysisNote:Thi
65、s analysis is based on reviews of 18K+Indian online shoppers between October 1 and November 29,2023|Zero represents a negative sentiment,while ten signifies a positive sentiment INC42 MEDIA|NOT FOR DISTRIBUTION /33 Online Festive Sales 2023:What Drives Customers Away?71%customer reviews showed dissa
66、tisfaction with this years online festival sale deliveryConcerns:Customer Sentiment Score(0 to 10)Delivery ExperienceCustomer CareReturn&RefundWeb/App ExperienceOrder Cancellation02468Source:Clootrack,Inc42 AnalysisNote:This analysis is based on reviews of 18K+Indian online shoppers between October
67、1 and November 29,2023|Zero represents a negative sentiment,while ten signifies a positive sentimentZero represents a negative sentiment,while ten signifies a positive sentiment INC42 MEDIA|NOT FOR DISTRIBUTION /34 Festive Sales 2023:Meesho Emerges As The Go-To Place For Value DealsIndian online sho
68、ppers preferred Flipkart over Amazon for better value-for-money deals this festival seasonPositive SentimentOverall MarketMarketplaceNegative Sentiment43%Neutral Sentiment7%50%55%7%38%77%4%19%31%64%5%Source:Clootrack,Inc42 AnalysisNote:This analysis is based on reviews of 18K+Indian online shoppers
69、between October 1 and November 29,2023 INC42 MEDIA|NOT FOR DISTRIBUTION /35 Most Ecommerce Giants Fail To Provide Delightful Delivery ExperiencePoor customer feedback on delivery from market leaders hampers overall online festival sales experiencePositive SentimentOverall MarketMarketplaceNegative S
70、entiment7%9%21%42%28%11%Neutral Sentiment17%16%16%13%11%18%76%75%63%45%61%71%Source:Clootrack,Inc42 AnalysisNote:This analysis is based on reviews of 18K+Indian online shoppers between October 1 and November 29,2023 INC42 MEDIA|NOT FOR DISTRIBUTION /36 Festival Sale 2023:More Than Two-Third Indian S
71、hoppers Left Disappointed With Return&RefundsNone of the major ecommerce giants analysed provided satisfactory product return/refund experience during online festival salesPositive SentimentOverall MarketMarketplaceNegative Sentiment3%Neutral Sentiment27%70%3%24%73%9%23%68%71%5%24%Source:Clootrack,I
72、nc42 AnalysisNote:This analysis is based on reviews of 18K+Indian online shoppers between October 1 and November 29,2023 INC42 MEDIA|NOT FOR DISTRIBUTION /37 Most Ecommerce Giants Fail To Provide Delightful Delivery ExperiencePoor customer feedback on delivery from market leaders hampers overall onl
73、ine festival sales experiencePositive SentimentOverall MarketMarketplaceNegative Sentiment27%33%56%35%41%Neutral Sentiment5%34%3%4%5%68%63%41%61%54%Source:Clootrack,Inc42 AnalysisNote:This analysis is based on reviews of 18K+Indian online shoppers between October 1 and November 29,2023 INC42 MEDIA|N
74、OT FOR DISTRIBUTION /38 Key Growth Drivers Of Online Festival Shopping In IndiaInternet&Smartphone AdoptionIndia has the worlds second-largest internet and smartphone user base,just behind China.The current active internet user market is over 759 Mn and is expected to reach 900 Mn by 2025.Growing On
75、line ShoppersIndia has 225 Mn+online shoppers(30%of active internet users),projected to reach 500 Mn+by 2030 at a 12%annual rate.Notably,60%of new online shoppers are from Tier-3 and smaller cities.Growing Household IncomeIn 2019,33%of Indian households had an annual income exceeding INR 5 lakhs.By
76、2030,this is projected to rise to 49%,equivalent to 173 Mn households.Young WorkforceIndia,with 349 Mn individuals under 25,presents a lucrative market for ecommerce and consumer internet segments due to rising household income and internet usage.Festival Season OffersThe fact that the sale offered
77、by leading ecommerce marketplaces during this time has been marketed as a celebration over a recurring event.The Indian shoppers have developed a degree of stickiness toward this,39%of Indian shoppers surveyed in 2023 expressed their intention to shop during big online sales during the diwali season
78、.Availability Of 3PLThe supply chain of Indian ecommerce businesses has been improved and broadened by modern startups like Shiprocket and Delhivery among others,which provide integrated logistics solutions for online businesses of varying sizes INC42 MEDIA|NOT FOR DISTRIBUTION /39 INC42 MEDIA|NOT F
79、OR DISTRIBUTION /40 Contact:Inc42 is Indias largest tech media&information platform on a mission to build&serve Indias tech,startup&internet economy.From breaking the latest news to discovering the hottest startups,from spotting upcoming trends to simplifying complex concepts,we cover everything tec
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81、25 Mn+tech leaders&professionals every month.CREDITSSANDEEP SINGHANALYSTInc42 Media,59/16,4th Floor,Jujhar Tower,RD Marg,Kalkaji,New Delhi,Delhi 110019ADDRESSSABITHDESIGN INC42 MEDIA|NOT FOR DISTRIBUTION /41 DisclaimerThe data provided in this report has been obtained from public and private sources
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