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‘Value e-commerce offers USD 40 billion market for firms’

The changing consumer preferences moulded by the pandemic in addition to the value and budget consciousness has put value-e-commerce in the spotlight.

Published: 18th August 2021 09:10 AM  |   Last Updated: 18th August 2021 09:10 AM   |  A+A-

E commerce, online shopping, retail stores

For representational purposes.

By Express News Service

NEW DELHI: Value–driven e-commerce presents a $40 billion market opportunity to players in the sector, with the rural population embracing digital shopping rapidly, a report released by the global consultancy firm, Kearney stated.

The changing consumer preferences moulded by the pandemic in addition to the value and budget consciousness has put value-e-commerce in the spotlight.

Currently valued at $4 billion, value e-commerce is expected to grow rapidly to reach $20 billion by 2026 and to $40 billion by 2030 - a 10X growth in 10 years, as per the study.

Even as the regulations around the e-commerce industry undergoe changes, those are expected to have least impact on the user end as well as their preferences. “Value-conscious consumers are shifting to online buying, driven by huge adoption in mobile Internet – we estimate 350 million active internet users by 2026, of which nearly 90 million will be from rural India. These value-conscious consumers from Tier-2+ and rural areas will contribute to 38% of India’s value e-commerce market demand by 2026. As these value consumers increase online buying, they tend to replicate their offline buying behaviour. Hence, there is a tremendous opportunity for players to craft a sharp value proposition around desirable quality at affordable price,” Manoj Muthu Kumar, Principal, Kearney said.


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