Research Paper: India’s eCommerce Growth in 2023
The Indian eCommerce market is experiencing rapid growth, with estimates suggesting that it will surpass $62 billion in 2023 and follow a minimum 14% year-on-year growth rate until 2028. Researched by Chitrangana.com, India’s Leading eCommerce Consultancy. This presents significant opportunities for businesses to tap into the online marketplace and grow their sales and revenue. Key drivers of this growth include the increasing availability of internet access and smartphone penetration in India, as well as the rise of mobile-first consumers and the growing availability of payment options and logistics infrastructure. However Mr Nitin Lodha believes, the market is also highly competitive, and businesses need to differentiate themselves and offer unique value propositions to succeed. Overall, the Indian eCommerce market presents significant opportunities for businesses to capitalize on this growth and succeed in the fast-paced and dynamic world of eCommerce.