Internet retail growth shows signs of maturing shopper base: Report

India’s electronic retailing market or e-tailing has witnessed a growth of 22 per cent in FY23, reaching a gross merchandise value (GMV) of $60 billion, according to a report by Redseer Strategy Consultants.

Although the growth rate is slower compared to the pandemic years, which saw 36 per cent growth each in FY22 and FY21, e-tailing is still performing well and is 2.5 times higher than pre-Covid levels. This growth is attributed to the availability of relevant and affordable products on e-tailing platforms, along with a standardised shopping experience.

The report also highlights the rise of direct-to-consumer brands and the increased digital adoption of traditional brands as contributing factors.