State Of Indian Ecommerce Report Q1 2023

The total addressable market for Indian Ecommerce is expected to reach $400 Bn by 2030, growing at a CAGR of 19% from 2022. The sector has attracted more than $31 Bn in investments since 2014 and boasts 24 unicorns and 15 soonicorns.

However, in 2022, total funding in this sector and average ticket size fell by 63% and 66% YoY, respectively.

On the other hand, the emergence of omnichannel as a dominant force within the ecommerce sector has thrown open many growth opportunities.

This report examines the state of the ecommerce sector in the wake of a funding winter. It also focuses on the startups making waves in the ecommerce domain, especially the rapidly growing omnichannel startups.

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State Of Indian Ecommerce Report Q1 2023

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights

$400 Bn

Estimated Ecommerce Market Opportunity By 2030


Indian Ecommerce Industry Will Be Driven By The Fashion Segment In 2030

$4 Bn

Total Funding In Ecommerce Startups In 2022

$16 Mn

Average Ticket Size Of Ecommerce Funding Deals In 2022

Table Of Contents

  • India’s Digital Economy In A Nutshell
  • The Ecommerce Market In India: A Snapshot
  • Global Ecommerce Players Comparison
  • Ecommerce In India
  • The Funding Pyramid
  • The Ecommerce Landscape
  • India’s Ecommerce Startup Ecosystem
  • Funding Trends
  • Largest Ecommerce Funding Round In 2022
  • Mega Deals (2014-2022)
  • 15 Early Startups To Watch
  • Notable Investors In Ecommerce
  • M&A In Ecommerce
  • Ecommerce In India: Key Developments
  • Ecommerce In India: The Rise Of Omnichannel
  • How Omnichannel Works
  • India’s Omnichannel Landscape
  • Reasons For The Rise Of Omnichannel
  • Financial Analysis Of Omnichannel Startups
  • Omnichannel Case Studies
  • Omnichannel In India: SWOT Analysis
  • “Omnichannel” Trends In India
  • Omnichannel/Retail Stock Performance
  • Emerging Trends/Challenges: Ecommerce In India


In spite of a 63% decline in funding and a 66% drop in average ticket size in 2022, the future for Indian ecommerce looks strong as its adoption rate is increasing across the country. Ecommerce has not yet reached its full potential in Tier 2 and 3 cities, and companies are now coming up with differentiated strategies to cater to these locations. “Omnichannel”, a hybrid online-offline business model, is also emerging as a critical growth driver. Many ecommerce startups choose this route as it helps them cater to a more extensive consumer base and design more diversified consumer experiences. More importantly, going omnichannel provides them access to huge (and legally permissible) customer data for hyper-accelerating growth.Nevertheless, omnichannel has certain challenges as it is a capital-intensive process, calling for a robust supply chain, efficient inventory management and top-notch customer support.

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