Indian digital-first brands have $250 bn opportunity by 2030: Report
- IBEF
- February 18, 2022
According to a report by RedSeer, online shoppers in India are seeking new experiences in the age of social and video commerce, and this has created a significant US$ 250 billion market opportunity for digital-first brands by 2030. In just the last few years, multiple US$ 100 million revenue technology-first firms have emerged across the categories, each with its own winning playbook and first-of-its-kind business model. The data imply that consumers choose these new-age products for their quality (rather than just price), with a high likelihood of repurchasing.
The gross merchandise value (GMV) of India's e-commerce sector hit US$ 53 billion in 2021, exhibiting post-Covid growth. "Additionally, Indian e-tailing showed impressive growth (on-quarter) in 2021 while other global players struggled to maintain the momentum," according to the report by Bengaluru-based market research firm RedSeer. The report predicts many more digital-first brands to develop exponentially between 2021 and 2030, supported and incubated by roll-up platforms that are building India's next wave of digital-first brands.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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