Ecommerce sales in India could increase by up to 60%, reaching $ 84 billion in CY21: study
Omnichannel inventory management and e-commerce solutions provider EasyEcom released a predictive analytics report on the state of e-commerce in India for the calendar year 2021. The study was prepared after analyzing the data on online sales in 2019 and 2020, according to a press release issued by the organization.
According to the report’s findings, total e-commerce sales for the 2021 calendar year are estimated at $ 67-84 billion, up significantly from the $ 52.57 billion achieved in 2020 and $ 40.44 billion. dollars in 2019.
The study further indicates that e-commerce sales during the holiday season have steadily increased over the past few years and that the trend is expected to continue within the current timeline. EasyEcom says in the report that growth has been persistent despite several months of lockdown and that it expects e-commerce retail sales to hit $ 11 billion to $ 14 billion in this holiday season alone, up from 32 to 68% compared to last year’s figure.
With a global pandemic looming on the horizon, e-commerce saw a staggering 66% increase in retail sales during the holiday season last year. In 2019, total online festive sales were $ 5 billion and increased to $ 8.3 billion in 2020, due to limited offline services during the first round of nationwide lockdowns. .
In recent years, electronics has emerged as the leading category in this space, with a 34 percent share of gross merchandise value (GMV) in total e-commerce sales for the year 2020. It was followed by the fashion and clothing (26 percent), food and groceries (24%), furniture and appliances (5%), with a growing user base from Tier 2 and Tier 3 cities. The report says that in 2021, electronics will remain the top category, followed by other major lifestyle segments.
“We believe online retail will continue to grow for the 2021 holiday season, due to rapidly changing customer preferences and digital adoption by the masses following a global pandemic. . The numbers predict that digital commerce revenues will continue to experience colossal year-on-year growth through 2026 and beyond. This year’s holiday season will contribute significantly to this revenue growth, allowing D2C brands to offset losses they may have suffered during the pandemic, ”said Swati Jindal, co-founder of EasyEcom.