Indian e-com industry is set to grow by 84 per cent to 111 billion by 2024: Report – brandequity MAAS Platform
Accelerated by the pandemic, the Indian e-commerce industry is set to grow by 84 per cent to $ 111 billion by2024.
Similarly,southeast Asia is on its way to recordan annual growth rate of 22 per cent, reaching $146billion by 2025.
Meesho, Flipkart, Ajio, Myntra, JioMart secured top positions as most downloaded apps on Google Play andAmazon, Flipkart, Meesho, Myntra, Olx on AppStorefor September 2021.
Affle’s MAAS and Sensor Tower e-commerce report ‘The Dawn of the New-Age Shopper in the NewNormal’ said the consistent upward growth resulted in a 18 per cent Y/Y increase in average DAU for India and20 per cent Y/Y increase in Vietnam and Indonesia, forQ2 2021. India’s shopping app installs surged in July2021, surpassing 80 million that month, up more than15 million M/M.
The initial stage of the pandemic in March 2020 had ahuge impact on the e-commerce industry causing anoticeable slowdown of activities. However, e-commerce apps registered peak in-app activities fromthe beginning of Q3 2020.
Popular categories of shopping were groceries,grooming/beauty products, apparels, electronics,school and household items, furniture among others.Shopping behaviour also indicated an increasedpreference for mobile-based transactions.
The report highlighted the key emerging trendsshaping consumer behaviour across shopping apps inthe APAC region.
Viraj Sinh, co-founder, managing partner -International (MAAS), said, “India and Southeast Asia are projected to be one of the fastest-growing eCommerce markets in the world, by 2025. With its unique demographic and fast-changing consumerbehavior trends, paradigm shift towards eCommerce iscertain and it continues to happen at a rapid pace. Newverticals, niche players continue to spring up acrossthe region that further drive the adoption andpenetration of eCommerce, which is still relatively low.The measurement of success has evolved and theapproach to user growth has changed. Having the rightpartner to help one through this journey has becomeparamount and a crucial fi rst checkpoint and often thediff erence between success and fail.
