Mumbai, Feb 24 (NationPress) The e‑commerce landscape in India, which currently stands at $120–140 billion, is anticipated to soar to $280–300 billion by 2030, while continuing to represent 7–8 percent of overall consumer expenditure, according to a report released on Tuesday.

The analysis from Boston Consulting Group highlights that despite the rapid expansion of e-commerce, traditional retail is holding strong, achieving an annual growth rate of 13-14 percent over the last four years.

This market is transitioning into a phase where online and offline retail coexist, with multichannel shopping becoming the norm; notably, 50 percent of offline consumers utilize online platforms to investigate purchases, the report elaborates.

Currently, there are approximately 300 million online shoppers in India, expected to increase to 440 million by 2030, with around 30 percent of these shoppers hailing from rural regions.

E‑commerce encompasses both e‑retail and e‑services, valued at $75–85 billion and $45–55 billion respectively. The growth trajectory is predicted to be driven predominantly by e‑services, which are expected to grow at a compound annual growth rate (CAGR) of 20–22 percent compared to 16–18 percent for e‑retail.

The report states, "Today's consumers navigate effortlessly between screens and physical stores, researching online and buying offline, or the other way around, motivated by convenience, trust, and necessity," based on a survey of over 12,000 consumers across various regions.

Nearly two-thirds of female shoppers express that they feel more secure shopping online, citing factors such as privacy, convenience, and the ability to shop independently at any hour.

“The diversity among Indian shoppers is increasing, as consumers adopt various shopping formats that align with their preferences and experience levels. With the demographic composition of online shoppers becoming more inclusive, it is essential for platforms and brands to create simpler, safer, and more fluid experiences across all touchpoints,” remarked Kanika Sanghi, Partner and Director at BCG.

Quick commerce has experienced a substantial growth rate exceeding 100 percent CAGR, making immediate and top-up shopping commonplace and enhancing purchase frequency. Meanwhile, social and chat commerce has seen a growth rate of 40-45 percent CAGR.

The report also highlights that the time required for online brands to achieve Rs 100 crore in annual revenue has decreased from approximately 11 years to just 7 years.

aar/pk