India e-retail to hit $170-180B by 2030 as Gen Z rewrites the funnel: Bain
Bain pegs India's e-retail at $65-66B in 2025, growing 20%+ annually to $170-180B by 2030. Gen Z now 40-45% of shoppers, driving Tier 2+ demand, quick commerce ($10-11B GMV), and conversational shopping via Rufus and ChatGPT over traditional search funnels.
What happened
India e-retail · Bain report: India's e-retail market at $65-66B in 2025, projected to reach $170-180B by 2030, driven by Gen Z (40-45% of shoppers), Tier 2+
Key facts
- $65-66B 2025 GMV
- 20%+ annual growth
- Gen Z 40-45% of base
- $170-180B GMV by 2030
- quick commerce $10-11B GMV
Why this matters
Scout acquisition targets in quick commerce, conversational shopping, and Tier 2+ fulfillment to lock in distribution before Gen Z's funnel rewrite consolidates around a few platforms.