As per a report published by Coherent Market Insights, the Indian Fashion Ecommerce Market is valued at US$ 14 billion in the year 2023 and is anticipated to reach US$ 18.76 Billion by 2030, at a CAGR of 34% during forecast period 2023-2030.
According to the report, the Indian fashion ecommerce market is experiencing exponential growth due to the increasing internet penetration rate in the country. With the advent of affordable smartphones and easy availability of high-speed internet connectivity, more and more Indians are now shopping online for fashion products.
The convenience of browsing through a wide range of fashion products from the comfort of their homes and the option of cash on delivery has further fueled the growth of the fashion ecommerce market in India.
Additionally, the rise of social media platforms and the influence of fashion influencers have significantly impacted the purchasing decisions of consumers, driving the growth of online fashion sales.
Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping, as people are opting for contactless transactions and avoiding crowded physical stores. These factors together create a favorable scenario for the growth of the Indian Fashion E-commerce Market.
