View: Consumers building the e-commerce odyssey
A recent report by Redseer Consulting estimated that India’s ecommerce market is expected to reach $163 billion by 2026 and online sales will account for over 25% of the sales across major retail categories barring grocery, by 2026. This phenomenal growth is propelled by several catalysts, most notably the expanding middle class, accessibility to high-speed internet across Tier 2 and Tier 3+ regions and brands adopting technology to offer seamless shopping experience to consumers.
Retail brands across sizes are striding through the ecommerce wave and powering their businesses with technological platforms to cater to the rising consumer demand and with a positive outlook towards India’s economy.
According to Unicommerce's 'India eCommerce Index 2023', Indian ecommerce witnessed a 26% y-o-y growth in order volumes and 23.5% GMV growth in FY2023.
The rapid emergence of D2C brands, and the rising adoption of omnichannel retail channels underscore the bright prospects that lie ahead for the e-commerce sector. Both these trends present a great opportunity, especially for SMEs to enter and grow into the ecommerce sector and serve the evolving consumption habits and burgeoning consumer appetite for online shopping.
In recent years, multiple D2C brands have showcased that large retail brands can be built through new-age digital channels and that it doesn’t necessarily require a conventional retail approach to build brands in the contemporary retail environment.
These D2C brands have also been able to foster a deeper connection with customers. It illustrates a shifting consumer mindset, where consumers are comfortable with online transactions and value the shopping experiences along with great products.
Consumers are shopping and
