{"id":5027,"date":"2020-11-02T20:04:25","date_gmt":"2020-11-02T14:34:25","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=5027"},"modified":"2025-04-23T17:48:42","modified_gmt":"2025-04-23T12:18:42","slug":"e-commerce-market-share-report-india-2021","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/e-commerce-market-share-report-india-2021\/","title":{"rendered":"E-commerce Market & Trends: A Report On How India Sells & Shops"},"content":{"rendered":"

The pandemic, its consequences and the state of Indian e-commerce industry\u00a0<\/span><\/p><\/blockquote>\n

E-commerce in India <\/span>is expected to grow to US$ 111.40 billion by 2025 from US$ 46.2 billion as of 2020.<\/span> Much of this is attributed to the rise in Internet and smartphone penetration.\u00a0<\/span><\/p>\n

But, 2020 has not been just any year. It has opened doors to opportunities for some and put the rest through trying times. However, e-commerce was among the few sectors which emerged as a clear backbone of the lockdown period.<\/span><\/p>\n

Highlights of the e-commerce market in 2021<\/span><\/h2>\n

\"ecommerce<\/p>\n

E-commerce in a nutshell – Orders placed<\/span><\/h2>\n

The lockdown was enforced in the last week of March. Just in a week’s time, e-commerce sites saw a dip of 2.40% in the orders placed. The highest dip in the entire year was seen in the month of April, by approximately 10% while the highest spike was observed in July.<\/span><\/p>\n

It is noteworthy that after April, there has been a constant rise in the number of orders placed.\u00a0<\/span><\/p>\n

How often have Indians shopped online<\/b><\/h3>\n

\"ecommerce<\/h2>\n

E-commerce in a nutshell – Refunds initiated<\/span><\/h2>\n

#2021SoFar<\/span><\/p>\n

It is assumed that the higher the number of orders an e-commerce site receives, the higher the refund count. Well, in our findings we observed a pinch of this assumption. February, April, and May were calm months for the chargeback<\/a> teams as the number of refunds initiated is comparatively less than the rest of the months.<\/span><\/p>\n

The pandemic forced (or empowered) hundreds of people to make their first online purchase. We assume that the RTO rates have seen a spike due to a lack of experience in online shopping.<\/span><\/p>\n

How often have Indians requested a refund<\/span><\/h3>\n

\"ecommerce<\/p>\n

E-commerce in a nutshell – GMV overview<\/span><\/h2>\n

#2021SoFar<\/span><\/p>\n

The Indian e-commerce market witnessed the largest GMV dip in February, surprisingly. Recently September came in like a cool breeze for the entire market crossing the 2000 Cr GMV mark. It is not wrong saying that the months of strict lockdown (March-May) saw a dip, but not a massive one and it did not take long for businesses to get back to those <\/span>higher revenue days<\/span><\/i>.\u00a0<\/span><\/p>\n

How much has India spent on online commerce<\/span><\/h3>\n

\"ecommerce<\/h2>\n

E-commerce in a nutshell – Payment modes preferred\u00a0<\/span><\/h2>\n

#2021SoFar<\/span><\/p>\n

Clearly, UPI has become everyone’s favourite mode of transaction soon after it’s advent. Almost half of the transactions in the entire e-commerce market are UPI-based. Second in the race are credit and debit cards.\u00a0<\/span><\/p>\n

It isn’t too surprising to see net banking contributing only around 8% to the overall transactions. The remaining chunk of the orders is paid via bank transfers, wallets, PayLater options, and so on.\u00a0<\/span><\/p>\n

How Indians prefer to pay for their orders<\/span><\/h3>\n

\"statistics<\/h3>\n

What we noticed in the world of beauty & personal care\u00a0<\/span><\/h2>\n

#2021SoFar<\/span><\/p>\n

How are Indians placing orders for beauty & personal care products?<\/span><\/h3>\n

\"fashion<\/p>\n

How much did India spend on hygiene & beauty<\/span><\/h3>\n

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How often did Indians ask for a refund in beauty & personal care industry<\/span><\/h3>\n

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What mode of payments is most used by beauty & personal care shoppers<\/span><\/h3>\n

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Key highlights – Beauty & personal care\u00a0<\/span><\/h3>\n