Online shopping by Indian gated communities to hit $500 bn by 2026

As online shopping explodes in India with an increase in smartphone and Internet users, the total online consumption by the gated communities in India will increase by 2.5 times to reach a whopping $500 billion by 2026, a new report showed on Monday.

In the next five years, India is expected to see 24 million gated community households in major cities (from 16 million at the moment), along with witnessing the growth in spend per household from the current $13,000-$14,000 to $19,000-$20,000, bring the overall spend to $460-480 billion (2.3-2.5x of the current spend).

In that period, India will be second to the US that will have 125 million gated community households with $25,000 as spend per household on average.