Consumer Digital Economy in the country to touch $800 billion

#ConsumerDigitalEconomy #NarayanaMurthy #JeffBezos

Consumer Digital Economy to touch $800Bn

India's digital economy is expected to touch $800 billion by 2030 making it the third-largest digital economy, said a report by consulting firm Redseer on June 30. It was pegged at $85-90 billion in 2020. Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said RedSeer at its flagship event Ground Zero 5.0. India is going to become the 3rd largest online retail market by CY30. E-Logistics in India has become the fastest growing market globally with over 3 billion shipments in 2020. India traditionally had an inefficient supply chain with a slow and undemocratic access. With the rise of e-commerce, the need for specialised delivery services emerged, which has led to the overall growth of the logistics segment. With multiple startups enabling kiranas with cashless payments and digital bookkeeping, the segment is expected to achieve $1.5 trillion sales by 2030.



COVID-19 has caused an inflection in e-commerce penetration across smaller cities. The emergence of this sector has created 5lakh employment for gig workers in 2021 across captive and 3PL. The new-age 3PL logistics players have delivered 850 million shipments in 2020. There is a sharp rise in digital content and advertisements see higher demand. On the other hand, online content is seeing phenomenal growth leading to the overall growth of the digital ad industry as well. Digital content is emerging as the bellwether of demand creation for time spent. India, one of the largest economies, is surging ahead on content and smartphone usage. Monthly active users have become democratised with increasing adoption of varied digital services and platforms.


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