Online shoppers in India to grow up to 450 million by 2027
Currently, there are 200 million to 230 million.
Online shoppers in India are expected to reach up to 400 million to 450 million by 2027, Bain & Company reported.
In its report, The Rise of Digital Bazaars in India, Bain & Company noted that online marketplaces will “significantly” empower micro, small, and medium enterprises (MSMEs) in India. This will also translate into an increase in job generation.
Presently, there are more than six million MSMEs either buying or selling online. This is projected to rise to over 15 million in the next five years.
Read more: India’s online marketplaces to reach $350b in GMV by 2027
This is expected to create some 4 million jobs, bringing the total to more than 7 million over the same period.
“Marketplaces add immense value to businesses by consolidating supply, widening customer bases, and providing access to capital and reliable logistics support,” the report read in part.
“In this context, marketplaces have had a significant impact on the Indian economy by democratising online shopping, expanding access to essential services, and enabling greater financial inclusion for underserved individuals and small businesses. Marketplaces have helped reimagine supply chains by eliminating intermediaries, strengthened the logistics infrastructure, and fuelled job creation for the gig workforce.”