The E-Commerce market in India is seeing a slowdown in the post-pandemic era as compared to during the pandemic.
A Redseer report says the e-tail market grew 22% to reach a market size of $60 billion in FY23, which is still higher than the pre-pandemic era.
Despite slowing down, e-commerce is 2.5 times higher than pre-COVID levels, outperforming overall retail consumption, which has lagged in recent quarters due to inflation worries.
India's e-commerce market is growing, with more users purchasing online more regularly across a range of categories, despite a general decline in consumption.
Although mobile phones were the most popular category in FY19, fashion has overtaken them with a 27% market share. Beauty and personal care (BPC), groceries, and home categories are also experiencing rapid development.
According to the research, more people nationwide have been eager to explore e-commerce over the past three years, and non-metro consumers made up a sizable portion of the total user base in FY23.