India's e-commerce sales to reach $84 billion in fiscal 2021

India's e-commerce sector has developed rapidly in the past 18 months. It is reported that India's total e-commerce sales in 2021 are expected to be between US$67 billion and US$84 billion, which will be a significant increase compared to the total e-commerce sales in 2020.

According to EasyEcom's survey report, the total sales of e-commerce in India in 2020 was US$52.57 billion, an increase of 30% from the total sales of US$40.44 billion in 2019.

According to the report, e-commerce sales in the Indian market have been on a continuous upward trend during the festive season over the past few years, and this year is no exception. The growth has continued despite the months of lockdown.

India’s e-commerce retail sales are expected to be between $11 billion and $14 billion during this year’s festive season, with online sales likely to grow by 32% to 68% during the festive season compared to last year.

Affected by the global epidemic, e-commerce in India showed a growth of up to 66% during the festival last year . In 2019, the total sales of e-commerce during the festival were US$5 billion. Due to the limited offline service capacity during the first round of nationwide lockdown, sales in 2020 increased to US$8.3 billion.

According to Swati Jindal, co-founder of EasyEcom, e-commerce retail in India will continue to grow during the 2021 festive season. After the global epidemic, consumer preferences have changed and the trend of digitalization has become increasingly obvious.

In recent years, electronics has become the leading e-commerce category, accounting for the largest GMV share (34%) of total e-commerce sales in 2019 and 2020, followed by fashion and apparel (26%), food and groceries (24%), and furniture and appliances (5%). The rapid growth of India's e-commerce industry has been driven in part by the increasing user base from second-tier and third-tier cities.

Digital e-commerce is forecast to continue to grow until 2026 and beyond. This year’s festive season will contribute significantly to the growth of e-commerce revenues in India, enabling D2C brands to recover the losses they incurred during the pandemic.

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