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Boston Consulting Group (BCG), has released its latest report titled, “Ten Things You Should Know About E-Commerce in India”. The report mentions the trends around online shopping preferences by consumers and how brands should change their strategies accordingly
According to the report, rural areas will be responsible for 54% of online shoppers and 24% of online spending by 2030
BCG expects these numbers to increase by 2.5 times over the next decade, accompanied by nearly sixfold growth in online retail spending.
According to the CII BCG Big Picture 2021 report, digital’s share of spend has grown from 20% in 2019 to 29.4% in 2021 and is expected to reach about 33% by the end of 2022
A new report by Boston Consulting Group (BCG) says India’s consumption market is back on the growth track after a year, having been disrupted by the pandemic. While growth projection for the consumption market was made before Covid-19 struck, BCG says that the economy has completely unlocked and there has been an uptick in demand across categories. It says India’s consumption market will triple by 2030, though there could be a lag of 1-2 years induced by the pandemic. The consumption spurt will be driven by urbanisation, higher disposable incomes, and nuclear families. BCG also notes t...