2024年印度电子商务 Mindscape 报告-Ecommerce Mindscape INDIA

EcommerceMindscape

INDIA2024

KeyMarketingBenchmarksandEmergingTrendsforD2CandMarketplaceSuccess

EcommerceinIndiaisbooming,withbothDirect-to-Consumer(D2C)brandsand

marketplacesseizingsignificantmarketshare.

Navigatingthislandscapedemandsadeepunderstandingoftheaudience,competitors,

industrynorms,andemergingtrends.

Ourresearchbridgesthegapbetweenconsumerexpectationsandeffective

marketingstrategies,offeringarichcollection

oftrends,benchmarks,insights,andstrategiestofuelyournextcampaign.

ThefindingsemphasizeamarketshifttowardsusingGenAItoamplifyvirtualassistants,

granularpersonalization,real-timeadaption,predictiveanalytics,andjourneyoptimization.IntegratingecommerceintoWhatsAppand

emailfurthersimplifiesuserjourneys.

Consumers,especiallyfromTier2andTier3cities,prefermobileappsforshoppingand

expectfastproductdiscovery,relevant

recommendations,minimaloutreach,andswift

checkouts.Theyintendtoboostonline

spendingwhiledemandinguncompromising,exceptionalexperiences.

Marketersprioritizerepeatpurchasesand

retentiontacticstocombatrisingcustomer

acquisitioncost(CAC);personalizationboostskeymetricsby20%to40%.

Theroadmapinvolvesadoptingtechnologies

likeCustomerDataPlatforms(CDPs),CustomerRelationshipManagement(CRM)systems,andinboxcommercesolutions.GenAIwillbepivotalforperfectingpersonalizationandcustomer

experiences.

Let’sleadwithvision,transformchallengesintoopportunities,andshapeafuturewhereeveryinteractionisextraordinaryandeveryjourney

unforgettable.

EcommerceMindscapeIndia2024

Foreword02

ReportataGlance03

EcomBuzz2024:04

GenAImeetsGenZTrends

•MarketersareBoostingInvestmentsinGenAI06

•PersonalizedJourneysforaSegmentof07

OnearetheNewNorm

•ImmersiveExperiencesareGivingReality08

anUpgrade

•ConsistentExperiencesareSkyrocketing09

EngagementandConversions

•MarketersareAll-InonThirdStorefronts10

UnderstandingIndianConsumers:11

FromThoughtstoTransactions

•Everyone’sHoppingandShoppingonScreens13

•ButThere’saLotThat’sIrkingThem15

•WhatwillWinTheirHeartsInstead?18

MappingtheEcomLandscape:21

KeyBenchmarksandStrategies

•AmIMeetingtheIndustryStandards?23

•WhyisMyCACGoingThroughtheRoof?28

•WillRetentionandRepeatSalesProtectProfits?30

GenAIinEcommerceandRetail33

Epilogue35

AboutNetcore36

EcommerceMindscapeIndia2024

Theecommercelandscapeisfiercely

competitive,demandingrelentlesspursuitofthelatesttrends,state-of-the-art

technology,andinnovativeideasto

engageusers.Rapidshiftsinconsumer

preferencesrequireagility,drivingup

marketingandacquisitioncosts.It'sa

challengingenvironment,buttherewards

forthosewhodaretoinnovateareimmense.

ToaddressIndia'sdiverseconsumerbase,

it’scriticaltoensureaccessibilitywith

inclusivity—segmentaudiencesintocohorts,localizemessages,andcurateofferings.

Infuseconversationswiththelatest

trends,especiallyforGenZ,whothriveoninspirationfromthenewesthype.Weavecreativityandinnovationintoconsumer

journeys—fromproductdiscoveryand

EcommerceMindscapeIndia2024

Diveintothisreport,equipyourselfwith

insights,andseizetheopportunities

ahead.Thefutureofecommerceishere,andit'syoursforthetaking.

personalizedofferstofrictionlessbuyingandloyaltyrewards.

Explorethenuancesofmodernsearch

behaviorsbyadoptingconversationalAIlikeGPTtoenhancesearchesandimproveuserexperiences.

UtilizeadvancedinteractivefeaturesonplatformslikeemailandWhatsAppto

connectinstantly,streamlinecheckouts,andboostconversions.Empoweruser

journeyswithgenerativeAItoachievegroundbreakingsuccess.

Sustainabilityisauniversalconcernacrossallconsumersegments.Embracethisethosandreflectitinyouractions.

ArijitGorai

HeadofD2C&MarketplaceBusiness

Consumer-centricityiskey.Usedatatoguideyourdecisionsanddeliverhyper-personalizedmessages.

02

AppsRemainPopularwithUsers

86%ofusersinTier2andTier3citiesloveonlineshopping,especiallyviamobileapps.Growingdemandforfastproductdiscoveryhasled30%tousevoiceandimage-basedsearch.

SimplifiedBuyinginDemand

Consumerswelcomeanythingthatcutsdownthestepsintheirshoppingexperiences,suchasinstantpurchasesandcheckoutsviaemail,WhatsApp,orsocialplatforms.

DiscountsWork,Over-messagingDoesn't

Whilediscountsareahit,consumersdon’twantbrandsbombardingthemmorethanthriceaweek.EspeciallyonWhatsApp,whereROIishighest,usersprefernomorethanonemessageaweek.

1o

HighCACShiftingFocustoRetention

TheCAChasreachedanall-timehigh,increasingby30%to40%year-over-year.Thisshifthasmarketerszeroinginonrepeatpurchasesandretention.

AI-poweredPersonalizationBoostingRevenue

Digitaloptimizationshavebumpedupconversionsby30%overthelasttwoyears.LeveragingAItopersonalizeexperiencescouldpushconversionratesto3%andrepeatpurchaseratesto40%.

-AI

EcommerceMindscapeIndia2024

Noteon

Research

InQ42023,Netcore

andDynatapartneredtostudyglobalconsumerbehaviorandmarketingleaderperspectives.

Datafrom2000+

consumersand300+

leaderswascollected

across10+countriestocreateregionally

segmentedreports.

03

EcomBuzz

2024:

GenAImeetsGenZTrends

EcommerceinIndia-2024

TheIndianecommercemarketisgearingupforanexcitingride,aimingforavalueof$350*Bnby2030.Theextenttowhichmarketplacesandindividualbrandswillcontributetothisfigurehingessolelyontheiragilitytocomprehendandembracethelatesttrends.

Ecommerce

MarketValue2024$99Bn

(India)

050100150200250300350

*Statista

2030$350Bn

ThecurrentlandscapeisprimarilydominatedbymarketplacessuchasFlipkart,

Amazon,Myntra,Meesho,Nykaa,Snapdeal,andothers.However,there'sbeena

notablesurgeinD2Cbrands,withnumerousstartupsenteringthefray.While

marketplacesofferconvenienceandaccesstoawiderangeofproducts,D2Cbrandsbringinnovative,specializedsolutionsandpersonalizedinteractionstothetable.

Asconsumerstodayprioritizeconveniencewhilealsoseekingoutuniqueofferings,thecompetitionwithintheecommercespherebecomesevenmoreintense.

Standingoutrequiresafusionoftools,

strategies,andanunderstandingofthelatesttrends,whichareessentialfor

stayingaheadandmeetingtheevolvingneedsofconsumers.

EcommerceMindscapeIndia202405

Tostayaheadofcompetitors,it'scrucialtofollowthelatestmarketbuzz.After

analyzingcurrenttrends,we'vecuratedthetop5ecommercetrends.Let'sdivein:

1MarketersareBoostingInvestmentsinGenAI

7in10CEOsareplanningtoboosttheirinvestmentsinGenAI.Thesetools

acceleratedatacollection,analysis,prediction,security,andcontent

creationanddrivegrowthandinnovation.

GenAIisenhancingvirtualassistantstoprovidemorehuman-likeinteractions,

highlightingreviews,enabling

predictiveanalytics,anddelivering

personalizedproductdescriptions.ItpowersadvancedvisualmerchandisingthroughAugmentedReality(AR)andVirtualReality(VR),creating

immersiveshoppingexperiencesthatreducereturnrates.

BrandsareactivelyharnessingGenAI's

capabilities—employingchatbots,

enablingimage/voice-basedsearch,personalizingcontentbasedon

individualbrowsingandpurchase

histories,andutilizingpowerful

analyticaltoolsforcompetitor

analysis.Italsoboostsretentionby

identifyingat-riskcustomersand

customizingloyaltyrewards,fosteringstrongercustomerrelationships.

Joiningthistrendnowisimperative;

furtherdelayrisksbeingleftinperpetualcatch-upmode.

EcommerceMindscapeIndia2024

06

2

PersonalizedJourneysforaSegmentofOnearetheNewNorm

Whenpursuinghyper-

personalization,offeringauniquejourneyfromdiscoverytopurchaseiscrucial.Evenifyourproduct

standsout,you'llfadeintothe

backgroundwithouttailoringtheexperienceforeachuser.

Tomakeithappen,consumerdataisyourgreatestally,withJourneyOptimizerasacrucialadditiontotheequation.

PoweredbyGenAI,theJourneyOptimizerenableslarge-scaleexperimentation,driving

revenuegrowth.Forinstance,ifyouaimtocutcartdrop-offsby

5%,justsetthegoalandlet

JourneyOptimizerdotherest.Itdynamicallycraftspersonalizedjourneys,adjustswaittimes,

curatescontent,selectsoffers,andoptimizescommunicationchannels.

Additionally,itcanmakereal-timechangestothewebsiteormobileapptoenhanceuserexperienceandachievethesetgoal.

Thisguaranteespersonalizationat

agranularlevel,leadingto

amplifiedrevenueanddeepercustomerloyalty.

EcommerceMindscapeIndia2024

HiAlia!

Here’syourspecialoffer.GreyPrintedDress

1800

(40%OFF)

1080

07

3

ImmersiveExperiencesareGivingRealityanUpgrade

ARandVRhavetakentheworldby

storm,captivatingaudiences

everywhere.ThesurgeinimmersiveexperienceshastransformedhowGenZcomprehendsandengages

acrossdiversedomains.Andwith

GenZasthemainfocusformany

ecommercebrands,it’snosurprise

they'reeagertojointheAR/VRwave.

Thesetechnologiesbringeveryday

shoppingtolife,offeringusersa

hyper-realisticexperienceanytime,anywhere.Suchexperiences,inturn,bringmorethanjustsalesfor

brands;theyalsocultivate

emotionalconnectionsandfostercustomerloyalty.

FrominnovativebrandslikeLenskarttomajormarketplaces

likeFlipkart,thetrendofbringingproductexperiencesintopeople'shomeswithjustaclickisgainingmomentum.It'satrendthat'sheretostayandtokeepupwiththetimes,it'sessentialtodiveinandembracethefutureofAR/VR.

EcommerceMindscapeIndia202408

4

ConsistentExperiencesareSkyrocketingEngagementandConversions

Yourofflinestorehastovibewithyouronlinepresence.Period.

Amultifacetedpresenceacrossplatforms—apps,websites,stores,andevenmessagingchannelslikeemail,WhatsApp,andRCS,plussocial

mediaplatforms—requiresweavingthemintoaseamlessexperiencetokeepcustomersengagedandsatisfied.

Consistencybuildsbrandrecognitionandtrust.ToolslikeCDPshelp

connecteverything,creatingasingle,unifiedviewofcustomersanddeliveringpersonalizedexperiencesacrossalltouchpoints.

Brandsincreasinglyrealizetheimportanceof

connectingthedotsbetweenusers'onlineandofflinepresence.Understandingofflineloyalcustomersintheonlineenvironmentiscrucial,justasitisviceversa.

Thebottomlineismaintainingaconsistentlookandfeelacrossall

touchpoints,creatingacohesivebrandidentity,andenhancingcustomerjourneys.

EcommerceMindscapeIndia2024

16:56

10

COUPONCODE

WELCOME

ONORDEROF2000&ABOVE

500+BRANDS

80+CATEGORIES

105+STORES

09

5MarketersareAll-InonThirdStorefronts

Theriseofsocialmediashopsand

theinfluxofinteractivefeatures

withinuserinboxeshasrevolutionizedhowpeopleshop.

Frombrowsingproductsto

creatingshortlistsandmaking

purchases,consumerscannowdoitalldirectlywithintheiremails,

WhatsApp,orRCSmessages.This

marksthedawnofinbox

commerce,wherecommunication

channelsbecomeabrand’sthird

storefront,offeringacompleteshoppingexperience.

However,tofullyenrichshoppers'experiences,itiscrucialtodeveloprobustloyaltyprograms,leverage

gamificationstrategies,anddelivervalueupfront.Treatingsocialmedia

pagesandcommunicationchannelsasvitalastraditionalstorefrontsisnon-negotiableintoday'smarketlandscape.

GainingMomentum-Agrowingsegmentofconsumersisembracingconsciousconsumption,recognizingitsimpactonglobalissueslike

sustainability,foodandwaterwaste,andsocialequity.ThistrendisalsoevidentinIndia,withconsumersprioritizingenvironmentalandhealth

concernsandfavoringbrandsalignedwiththesevaluesthrough

sustainabilityinitiatives—apotentialtrendeverybrandmustconsider.

EcommerceMindscapeIndia2024

JacobFashion

To:myennail@ennail.conn>ReplyTo:JacobFashion>

SUMMERTIMEEYEGAME!

JacobFashion

VISION.STYLE.CLARITY.INNOVATION.

SUNGLASSES

BlueComputerGlasses

BlueBlockcomputerGlasses:DarkGreyFullRimNFD3405-WB5

+

clickHeretounsubscribefromthisnewsletter.

EYEGLASSES

10:04AM

J

Understanding

IndianConsumers:

to

FromThoughtsTransactions

11

Shopper

Volume

(India)

2027

425Mn

2021

185Mn

050

100150200250300350400450

*Statista

Giventhevastconsumerbase,it’scriticaltounderstandtheirpreferencesandmotivatingfactorsforengagingwithbrands.

Viathesurvey,wefoundthatrisingdisposableincome,modern

lifestyles,andtheconvenienceofonlineshoppingarefuelingasurgeinonlinespendingamongIndianshoppers.

Animpressive96%ofshoppersplantoincreasetheir

onlinepurchasesthisyear,especiallyforessentialslikeapparelandhouseholdgoods.Additionally,diverse

paymentoptionsandattractivee-walletoffersarelikelytodrawinnumerousnon-urbanshoppers.

Let’sexploremoreinterestingdatapointstodriveavibrant,connected,andprosperousfutureforIndianecommerce.

EcommerceMindscapeIndia2024

12

Everyone’sHoppingandShoppingonScreens

Tier2andTier3citiesareleadingtheonlineshoppingsurge,with9outof10Indianconsumersnowmakingpurchasesonline.Whileawhopping86%prefertoshoponapps,mobilewebsitesand

desktopsalsomaintainsignificanttraction.About18%ofshopperstaketheResearchOnline,PurchaseOffline(ROPO)path,fuelingtheonlinevs.offlineretaildebateformarketers.

94%

Here’sanevenmoreastoundingfact—94%ofshoppersadmitthattheriseofonlinestoresoninstantmessagingplatformslike

WhatsApp,iMessage,andInstagramsignificantlyelevatestheirshoppingexperiences.Infact,about80%alsoshowed

Thispresentsahugeopportunityforbrandsto:

broadentheirreach

connectwithuserswherethey’remostactive

andnudgethemwhenthey’remosteagertomakepurchases

eagernesswhenaskedifthey'dbuydirectlyinsidetheiremailorWhatsAppinbox.

TOP5

ChannelsUsersPreferforBrandEngagement

Website/

AppBrowsing

Social

Channels

WhatsApp/Messaging

DigitalAds

PromotionalEmails

EcommerceMindscapeIndia202413

Shoppersincreasinglyseekshorter,

smootherroutestopurchases.Businesses

mustswiftlyintegratecheckoutstepsin

theirpreferredchannels—email,WhatsApp,

orRCS—toenhanceexperiences,boost

conversions,andskyrocketROI.

GagandeepSingh

Director

CheatSheet

ShopperBaseisDiverse

ShoppersValueTimeoverMoney

NextSteps

•Makereplenishment

campaignsandpost-purchase

recommendationsa2-clickaffairbyintegratingcommerceinto

WhatsAppandEmail.

•Toincreaseadoption,yourmobileappmusthaveafew

exclusiveelements,suchas

discountsorsomecollectionsavailableonlyontheapp.

EcommerceMindscapeIndia202414

ButThere’saLotThat’sIrkingThem

Asignificantnumberofusersgetannoyedbyexcessivebrand

communication.Roughly86%ofshoppersexpressfrustration,

sayingbrandscontactthemtoooften.Theyadvocatefora

maximumofthreeweeklyinteractions,andnotmorethanonceonintrusivechannelslikeWhatsApp.Goingbeyondthismay

promptthemtooptoutofyouremails/notifications.

1-2

Notatall

>15

11-15

1.5%

6%

5%

6%

Howoften

shouldbrands

contactshoppers

inaweek?

27.5%

3-4

7-10

34.5%

19.5%

5-6

EcommerceMindscapeIndia2024

Anotherkeyfactortoconsideriswhetheryour

messagingisrelevant.Despiteongoingeffortsto

personalizeoutreach,everyoneinfourshoppersfeels

thatbrandsonlypartiallyunderstandtheirshoppingpreferences.

46%

43%

35%

Get

irrelevantoffersanddiscounts

Get

irrelevant

recommendations

Struggle

tofind

theproduct

15

Whenpinpointingareasforimprovement,shoppersprioritizemobileapps,followedbywebsites,email,andWhatsApp.Otherdiscomfortsinclude:

86%

readilyabandontheircartsifthey

getsubpar

shopping

experiences.

feelthattheonlinebuyingexperience

involvestoomanysteps.

88%

70%

respond

negativelyandrejectabrand

whenshown

incorrectsearchresults.

citeirrelevantoffersand

discountsasakey

reasonfora

negativebrandimage.

expressconcern

overpaidadsbeing

excessively

personalized,

borderingon

feelingintrusive.

82%

34%

CheatSheet

ShoppersValuePrivacy,Relevance,andQuality

ShoppersDemandShorter,SmarterJourneys

NextSteps

•Unsubscribes,Uninstalls,and

Blocksareacrime.Scrutinize

everymessageusingRFM,affinities,similarproducts,occasionalbig

discounts,orusefulcontent.

•InvestinNLP-poweredsearch,AIproductrecommendations,andpersonalizedwebpagestohelp

usersdiscoverproductsfaster.

EcommerceMindscapeIndia202416

In2024,themostsuccessfulretailstrategieswillblendthetactile

experienceofofflineshoppingwiththeconvenienceand

personalizationofonlinechannels,creatingaholisticjourneyfor

consumers.ShoppersStop'somnichannelsuccessliesintheirabilityto

leveragedatainsightstounderstandcustomerbehaviourandpreferences

&investingintechnologiesthatbridgethegapbetweenthetwo.

SreekanthChetlur

ChiefEcommerceOfficer

EcommerceMindscapeIndia202417

WhatwillWinTheirHeartsInstead?

Thedatacouldn'temphasizetheimportanceofpersonalizedandrelevantexperiencesfortoday'sshoppersmorestrongly—awhopping91%ofshopperssaythey’reopentosharingpersonaldatawithretailersforamorepersonalizedshoppingexperience.

60.2%

BetterSupport

70.9%

OneShopper,

OneExperience,OnlineandOffline

75.7%

Free

Delivery

Top3ConsumerExpectationsFromBrandsTop3ExperiencesConsumersWillPayExtraFor

53.4%

Relevant

Recommendations

50.5%

GenerousLoyaltyPrograms

48.5%

MoreFrequentOffers/Discounts

Morethan50%ofshoppersvieweasyproductdiscovery,personalizedexperiences,andfrequentoffersasthekeyfactorsdifferentiatingabrand.Over75%ofshoppersmeticulouslyevaluateupto5brandsbeforepurchasing,placingimmensepressureonmarketerstodifferentiate

themselves.

Top3FactorsInfluencingRepeatPurchases

66%

Frequencyof

Offers/Discounts

71.8%

HelpingUsers,BuildingBonds

68%

PaidLoyaltyPrograms

EcommerceMindscapeIndia202418

CheatSheet

ShoppersCravePersonalization

ShoppersSeek

UniqueOfferings

NextSteps

•APaidloyaltyprogramwithanelementofgamificationworks,sojustdoit.

•Insteadofsendingadsineverymessage,sendusefulcontent—5homeremediestowhitenteeth,

10thingstotakecareofwhile

travelingwithababy,or5newfashiontrendsforthemonthofJune.

Intoday'smarket,consumersrelentlesslypursue

finelycustomizedexperiences.It’scrucialfor

marketerstoleveragechannelinteractivity—

forms,surveys,one-clickresponses—togather

zero-partydata,encouragingpreferencesharing

foroptimalpersonalization.

ShivaneeDutt

SeniorDirector,BrandMarketing&Merchandising

EcommerceMindscapeIndia202419

Exclusive

first-timebuyerdealsunavailableonmarketplaces

Easyrepeat

purchasesvia

WhatsApp/

email

Specialbundle

ofpackages

onlyonwebsite

Interactivefeatures

likevirtualtry-ons,

productcustomizers,

orlivechat

EcommerceMindscapeIndia2024

20

Mapping

theEcom

Landscape:

KeyBenchmarksandStrategies

2025$100Bn

050100150

*Statista

D2CMarket

Value(India)2020$33Bn

It’sclearthatmarketplacesholdthelion’sshareoftheecommerce

market,yetD2Cbrandsarepavingtheirwayinwithasolid3Xgrowth.

It’sprimetimetoevaluateyourcurrentpositionandstrategizeforsuccess.

In2024,infusingAIandGenAIintelligenceintouserexperienceswillproveinstrumentalinboostingkeymarketingmetricssuchas

conversionrates,averageordervalues(AOV),retentionrates,andcustomerloyalty.

Ourexecutivedatacompilationfeaturesinsightsfromleadersin

marketplacesandD2Cbrandsacrossvarioussub-industries,includingClothingandApparel,Electronics,HealthandBeauty,Grocery,Food,

andDrinks,amongothers.

Let’stakeadeepdiveintocriticalindustrystatisticsandunique

strategiesthatalignperfectlywithIndia'svibrantecommercerealm.

EcommerceMindscapeIndia2024

22

AmIMeetingtheIndustryStandards?

Hereisacollectionofexclusivebenchmarksfromsurveydata,offering

valuableinsightsforassessingyourperformance.Beforewedivein,here’saquicksnapshotofthemostimportantmetricsthatmatterinecommerceandretailsegments:

ConversionRate

RepeatPurchaseRate

30DayRetentionRate

2%

29%

21%

PostPersonalization

ConversionRateRepeatPurchaseRate30DayRetentionRate

2.8%

38.5%

25%

Thecurrentconversionrateaveragesat2%,showinga30%increasesinceour2022EcommerceBenchmarkReport.Ifyourrateisclosetothis,you'redoingwell.

Investmentsinareaslikesearchrelevance,

AI-poweredproductrecommendations,liveagents,virtualtry-ons,andsocialproofthroughreviewsandratingsaredriversofimprovement.Brandsexcellinginpersonalizationseeconversionratesshootupto

about2.8%.

Therepeatpurchaserateisacrucialmetricfor

brands,investors,shareholders,andmarketers,asitreflectsthetruevalueofyourproduct.Thecurrentaveragerepeatpurchaserateis29%.Aratebetween25%-40%iscommendable,whileover50%indicatesstrongcustomerloyaltyandbrandconnection.

Withmobileappsdriving50%-60%ofpurchases,

30-dayretentioniskeytounderstandinguserloyalty.Aminimum30-dayretentionrateshouldbearound

20%,butsuccessfulappsachieveratesabove30%.

EcommerceMindscapeIndia202423

Mobileappandwebsiteconversionrateshoveraround2%.However,brandsembracingpersonalizationsawremarkableimprovementsofupto31%,significantlyboostingsalesandrevenue.Marketplacestypicallyseebetterconversionratesduetotheirneutralstance;theyshowcasereviews,facilitateeasycomparisons,andhaveabetterunderstandingofcustomerpreferencesthanstandalone

brands.However,D2Cbrandsarequicklycatchingup.Surprisingly,verticalslikefurnitureandappliances,jewelry,andelectronics—despitetheirhighAOV—havethehighestconversionrates.

Marketplaces

D2CBrands

ConversionRat