Mumbai’s booming digital marketplace is set for explosive growth. A new report from Boston Consulting Group predicts India’s e-commerce sector will double in size by 2030, surging from the current $120-140 billion to $280-300 billion. This projection underscores the rapid digital transformation reshaping consumer habits across the nation.
Despite the online boom, traditional offline retail remains resilient, expanding at 13-14% annually over the past four years. The market is entering a phase of coexistence, where shoppers seamlessly blend digital research with physical purchases. Notably, half of all offline buyers now turn to online channels for product information before heading to stores.
India boasts around 300 million online shoppers today, a figure expected to climb to 440 million by decade’s end. Rural consumers make up nearly 30% of this digital wave, highlighting the penetration of internet access into hinterlands.
Breaking down the segments, e-retail is projected to reach $75-85 billion, while e-services could hit $45-55 billion. Growth rates differ slightly, with e-services accelerating at 20-22% CAGR compared to 16-18% for e-retail.
Based on surveys of over 12,000 consumers across sectors, the report reveals a fluid shopping ecosystem. Buyers hop effortlessly between screens and stores, researching online and buying offline or vice versa, driven by convenience, trust, and necessity.
Women, in particular, favor online platforms for their privacy, accessibility, and round-the-clock shopping freedom. Two-thirds of female shoppers deem digital channels safer.
Kanika Sanghi, BCG Partner and Director, emphasized the diversifying buyer base: ‘Consumers are picking formats that match their needs and maturity levels. The online demographic is becoming more democratic, compelling platforms and brands to deliver seamless, secure experiences across all touchpoints.’
Quick commerce has skyrocketed with over 100% CAGR, turning instant and top-up buys into everyday norms and boosting purchase frequency. Social and chat commerce follows closely at 40-45% CAGR.
For online brands, the path to Rs 100 crore annual revenue has shortened dramatically—from 11 years to about 7. This efficiency signals a maturing ecosystem ready for global competition.