The survey predicts that by 2030, the Indian fashion e-commerce sector will surpass US$18.76 billion

By 2030, the fashion e-commerce market in India is expected to surpass US $18.76 billion, according to global market intelligence company Coherent Market Insights. The company has projected in its most recent research, India Fashion E-commerce Market, that the market will expand at a compound annual growth rate (CAGR) of 34%.

According to recent research by Coherent Market Insights, the Indian fashion e-commerce market is expected to grow at an exponential rate due to several causes, with a valuation of US $14 billion in 2023. There are plenty of market prospects for firms to concentrate on for growth, including shifting lifestyle trends, a growing desire for various fashion products, and rising purchasing power.

The study identified several key growth drivers for the Indian e-commerce business, including the country’s fast urbanization, rising smartphone and internet penetration rates, favourable demographics, and the expansion of the organized retail sector. Concerns about data privacy, under-penetrated rural areas, and logistics and delivery constraints were noted as major obstacles.

According to the research, “the ability to pay with cash on delivery and the ease of perusing a broad selection of fashion products from the comfort of their homes has further fuelled the growth of the fashion e-commerce market in India.” Additionally, the increase in online fashion sales has been fuelled by the impact that social media platforms and fashion influencers have had on consumers’ purchase decisions. In addition, the COVID-19 pandemic has expedited the trend toward e-commerce as consumers choose contactless transactions and overcrowded brick-and-mortar businesses. When combined, these elements offer a favourable environment for the expansion of the fashion e-commerce sector in India.