RedSeer report: Digital-first brands by 2030-$250 bn opportunity
17 February 2022, Mumbai:
Indian e-tailing segment grew to $53 billion in 2021, said a report by management consulting firm RedSeer.
With social commerce and video commerce revolutionising the e-commerce segment, digital-first brands have a $250 billion opportunity in front of them by 2030, said a recent report by management consulting firm RedSeer.
According to the company, online retail has grown sustainably during the pandemic and made inroads into small towns.
“India's e-tailing GMV (gross merchandise value) reached $53 billion in 2021, demonstrating post-COVID acceleration,” said the report.
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As per the report, India will be adding hundreds of millions of new online shoppers in the next few years, primarily from a low-income consumer group in small towns.
“To address the needs of this set of consumers, social and video commerce is creating a new retail channel for an aspirational new India; this is already supported by over $1 billion funding in 2021,” it said.
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*Figures mentioned in the above article have been sourced from Money Control article.
