India's e-commerce industry set to grow 84% by 2024, says report
Affle’s MAAS, a unified mobile advertising
platform, and Sensor Tower (a US-based mobile app store marketing intelligence
company) have jointly studied the key factors that accelerated e-commerce
adoption in India and Southeast Asia in the recent past, and how Covid-19 has
shaped shopping behaviour. Their findings are summarised in the report, The
Dawn of the New-Age Shopper in the New Normal.
Daily active users for shopping apps
In India, daily active user (DAU) growth in top shopping apps accelerated in
the past three quarters, after Club Factory’s removal from app stores dampened
growth in mid-2020. The top 10 apps averaged more
than 7 million DAUs apiece in Q2 2021, up 18 per cent year-on-year.
Covid boost
Accelerated by the pandemic, the Indian e-commerce industry is set to grow by 84% to $111 billion by 2024.
Similarly, Southeast Asia is on its way to record an annual growth rate of 22%,
reaching $146 billion by 2025.
Avg downloads for top 5
shopping apps
Shopping app installs in India showed strong y-o-y growth in July and August
2020, and remained above 2019 levels into 2021. Shopping app installs surged
again in July 2021, surpassing 80 million that month, up more than 15 million
month-on-month. Meesho alone contributed more than 12 million downloads, up 3.7
million month-on-month.
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