The current pandemic scenario has brought about a lot of previously unheard-of acts and force changes that have an impact on society norms and individual behaviour, or the "new normal." However, these considerations have propelled online retail and e-commerce to unprecedented heights, moving them from being an alternative to a preferred method of purchase. Due to the negative consequences of the Covid-19 pandemic, the country has been on lockdown days since last year, which has given the Indian e-commerce business a boost. Due to the strict lockdown on the local and daily necessities Online Retail Market, more Indians are actively using online shopping.
The Online Retail Market share is growing throughout a wide range of industries, and it has constantly been able to skyrocket its trends and market share with unprecedented dynamics. According to reports, the Indian online grocery business is predicted to grow at a CAGR of 57 percent from $1.9 billion in 2019 to $18.2 billion in 2024. The number of online orders placed in India increased by 36% in the fourth quarter of 2020.
In the past six years, there has been an almost 1 billion-fold growth in the number of people who consider themselves internet consumers. Even though it slightly slowed down in the first quarter of 2021, that growth was boosted by the epidemic in 2020. Who exactly shops online, and whose e-commerce platforms do they use?
· Millennials (aged 25 to 34) make up the bulk of internet shoppers, with Generation X (aged 35 to 44) closing the gap.
· Women are 4% more likely than men to shop online.
· Mobile devices account for nearly half of all internet purchases.
· On social media channels, almost 72% of internet customers discovered their new purchases.
