A report by consulting firm RedSeer has reported that Indias online retail is on a robust growth trajectory and there is a 40-60 % year on year growth.
The market is set for a strong gross merchandise value growth and its expected to be ₹4.9 trillion for the year 2022. A strong share of tier 2 online shoppers is also expected to further drive the growth.
In the e tailing GMV index there is a monthly growth comparison , In 2022 this was 60 percent higher in april than april 2021. It was 38 percent higher in May than May 2021 and 42 percent higher in june to june 2021.
The major contribution to this growth is the new e-commerce models to cater to unsolved consumer needs. A lot of social commerce models have played a critical role in building new pool of customers. This sector will also witness innovations in business models to expand topline and control costs.
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