Indian e-tailing market reached $60 billion in GMV in FY23: Report

The e-tailing market in India reached $60 billion in gross merchandise value (GMV) in FY23 registering a 22% steady growth, suggests a report from Redseer Strategy Consultants.

With 210 million annual shoppers, ads monetisation contributed $1.2 billion in revenue for Indian e-tailers in FY23, growing at 37% year-on-year, according to the report.

“Despite losing momentum, e-tailing today is 2.5 times of pre-Covid levels and is performing much better than overall retail consumption, which has been tepid in the recent quarters due to inflation concerns,” said Mrigank Gutgutia, a partner at Redseer.