E-commerce business to touch $100 billion level by 2024

A leading research and consultancy firm has projected big ticket growth for the e-commerce business in the country in next 4-5 years. And a key factor for sustaining nearly  three fold growth in value would be supported by innovative supply chain models, a white paper recently released by management consulting firm Alvarez and Marsal (A&M) has underlined.

Calling “e-commerce retail (B2C) market to be more than a USD 100 billion opportunity by 2024,” the report said that the share of e-commerce was just 3 per cent in domestic retail in 2019. And this ensures that the scope for its future growth is massive given the fact that the share of e-commerce in total retail in the leading economies like the US and China has moved into the double-digit.

“While the bulk of e-commerce volumes come from top-30 cities, over 60 per cent of e-commerce volumes are likely to come from tier-II and tier-III cities in the next five years, It is an imperative for e-commerce businesses to build their seller base and delivery reach in smaller towns,” A&M India Managing Director Manish Saigal has been quoted as saying in a news report.

According to the agency, India e-commerce which had stood at a meager less than a billion dollar in 2010 has now grown beyond $30 billion in terms of annual value.

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