Indian e-Commerce Sales Could Grow by up to 60%, Hit US$ 84 Billion in CY21: Study

EasyEcom, an omnichannel inventory management and e-commerce solution provider released a predictive analysis report on the state of e-commerce in India for the calendar year 2021. The report has been prepared post analysing the data around online sales during 2019 and 2020, according to a press release issued by the company.

As per the findings of the report, total e-commerce sales for the calendar year 2021 are anticipated to clock US$ 67-84 billion, up considerably from US$ 52.57 billion achieved in 2020, and US$ 40.44 billion in 2019.

The report further states that e-commerce sales throughout the festive season have been consistently soaring over the past few years and that the trend is anticipated to persist in the current calendar. EasyEcom said in the report the growth has been constant in the face of several months of lockdown and that it assumes to see e-commerce retail sales clock US$ 11-14 billion during this festive season alone, up by anything between 32-68% over 2020’s figure.

With a global pandemic imminent at large, e-commerce saw a staggering 66% retail hike during the festive season 2020. In 2019, the total online festive sales accounted for US$ 5 billion, and went up to US$ 8.3 billion in 2020, due to inadequate offline services during the first phase of nationwide lockdown.

In recent years, electronics has appeared as the leading category in this space, with a 34% share of gross merchandise value (GMV) in total e-commerce sales for the year 2020. Followed by fashion and apparel (26%), food and groceries (24%), furniture and appliances (5%), with an increasing customer base from Tier-2 and Tier-3 cities. The report says that in 2021, electronics will remain the leading category followed by other major lifestyle segments.

“We believe that e-commerce retail will remain to rise up for the festive season of 2021, due to swiftly shifting customer preferences and digital adoption by masses in the aftermath of a global pandemic. The numbers predict that revenue for digital commerce will stay to register a gigantic YoY growth till 2026 and beyond. The festive season this year will contribute significantly towards this revenue growth enabling D2C brands to make up for any shortfalls they might have incurred during the pandemic, “said Ms. Swati Jindal, Co-Founder at EasyEcom.