Omnichannel stalls: 8 Indian retailers' e-com share flat at 1-2 ppt gain since FY22
ET review of eight listed retailers shows e-commerce contribution to sales barely moved in four years. Reliance Retail leads at 17-19%, Bata at 10-12%, DMart stuck at 5-6%, Westside slipped from 7% to ~6%, Shoppers Stop under 1%. Profitability focus and lower digital spends leave incumbents trailing Amazon, Flipkart and quick-commerce rivals.
What happened
Reliance Retail · ET analysis of eight major Indian retailers shows e-commerce share of total sales stayed flat or rose just 1-2 ppts since FY22, as omnichannel
Key facts
- Westside online 7% in FY22, ~6% till FY26
- Reliance Retail online 17-19%
- Bata online 10-12%
- DMart e-commerce 5-6%
- Shoppers Stop online <1%
Why this matters
The omnichannel stagnation creates M&A openings in digital-native brands, last-mile logistics, and quick-commerce assets that can plug capability gaps incumbents have under-invested in for four years.