The e-commerce market is expected to grow two and a half times faster than the offline retail market

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Mumbai: While the offline retail industry is constantly protesting against the growing prevalence of e-commerce in the country, a report by a research firm has predicted that the country's e-commerce market will grow two and a half times faster than the offline retail market. This assumption has come in view of the increasing interest of consumers in online shopping.

The size of the online market which was 70 billion dollars in 2022 is estimated to increase to 325 billion dollars by 2030. This increase will be much higher than the organized retail market. The size of the organized retail market, which was $110 billion in 2022, is expected to grow to $230 billion by 2030.

The last five years have seen a massive change in the online market in India. According to the report, the size of the online market is increasing due to ease of order and return conditions, strong logistics infrastructure covering 19,000 zip codes, approximately 22 crore online shoppers and massive investment from private equity and venture capital firms.

The rapid growth of e-commerce in the second and third tier cities is witnessing a drastic change in the retail sector. In 2022, 60 percent of the total orders on e-commerce platforms came from cities in this category, more than cities in the first category.

Third-tier cities saw 65 percent growth in order volume, while second-tier cities saw 50 percent growth, compared to 10 percent in first-tier cities.

Meanwhile, the Confederation of All India Traders (CAT) has demanded that online and offline traditional retail traders should get equal trading opportunities. The prices of products and services should be the same so that there will be healthy competition in the market.

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