Online retail to be $170 billion by 2030: Report

New Delhi: Online retail in India will touch $170 billion or 8% of the total retail market of the country by 2030 growing at a CAGR of 21%, higher than the growth that offline retailers will see in the same period, brokerage firm Jefferies said in a report dated April 18. According to estimates by Jefferies, online retail is currently 25% of the total organised retail market: by 2030 it can jump to 37%.

Jefferies conducted a survey of over 550 online shoppers across several cities in India. It tracked their shopping purchases in a survey that threw up interesting results.

The brokerage noted that shoppers in India are now pivoting to online driven by convenience over discounts that drew the initial shoppers to the internet in India.