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THE COMING OF AGE OF D2C IN INDIA

Dive into the extensive analysis of India's booming D2C market. This report highlights the rapid growth, key market segments, and the increasing adoption of AI and analytics that are setting new standards in retail.

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The belief that India's consumption is stalling and is capped by a small minority is becoming outdated.
India’s D2C market is booming, growing from ~US$ 16.9B in FY23 to an expected ~US$ 61.3B by FY27.
Grocery, fashion, and beauty are leading this charge.
What’s driving this growth?

Marketplace expansion, technology adoption, and savvy marketing strategies. But success isn’t guaranteed.

Brands must overcome challenges like OEM dependency, high acquisition costs, and brand loyalty issues.
Explore these trends and more in our comprehensive report.
Dive into the future of India’s D2C market.
65%
of D2C brands adopted AI & analytics in 2023.
~10M
incremental jobs in retail to be created by the D2C industry by 2027.
30%
of India's GDP (estimated at US$ 3.4 trillion in 2023) is contributed by retail.
61.3B USD
India's D2C market is expected to reach 61.3B USD by 2027, growing at an expected CAGR of ~38%
3 categories with biggest expected market share in Indian D2C by 2027
42%
Food & Grocery
24%
Fashion
12%
Beauty & personal care

India D2C Segment Specific Deep-Dives

Electronics

India D2C electronics market is expected to grow at ~40% CAGR from FY23-27. The market size for electronics is expected to grow from USD 1.8 billion in FY23 to USD 6.9 billion by FY27.

Key trends include:
Increased demand for premium products
Rising urbanization
Increase in affordability
Local manufacturing

Beauty & Personal Care

India D2C Beauty & Personal Care is expected to grow at a CAGR of ~36% from FY23-27. The beauty & personal care market is expected to grow from USD 2.2 billion in FY23 to USD 7.6 billion by FY27.

Key trends include:
Leveraging digital channels & technology
Increasing demand for sustainable products
Increased R&D in product awareness
Expansion of men's grooming

Fashion

India D2C fashion market expected to grow at a CAGR of ~35% from FY23-27. Market size expected to grow from USD 4.6 billion in FY23 to USD 14.9 billion by FY27.

Key trends include:
Sustainable fashion
Celebrity & influencer owned labels
Technology integration
Increase in affordability

Grocery

India D2C grocery market is expected to grow at a CAGR of ~41% from FY23-27. Market size expected to grow from USD 6.7 billion in FY23 to USD 26 billion by FY27.

Key trends include:
Fresh offerings
Subscription models
Transparency in product offerings
Conscious snacking options
“A critical winning factor right now is finding a strong brand market fit; this can happen by identifying an under-served customer niche and understanding a product problem that you can fix."
Founder
Electronic brand
“Omni-channel has gained significant traction. Seamless integration between online & offline channels is essential for success. Without this cohesion, it merely resembles a multichannel approach rather than authentic omni-channel retailing.”
CMO
Apparel Brand
“Product innovation serves as the main catalyst for launching a business, with product differentiation and targeting specific consumer segments being crucial factors. Sustaining a brand relies on customer satisfaction and their perception of the product's quality and taste."
Founder
Dairy brand
“Brands explore offline avenues as not all purchasing habits have migrated online. Maintaining an offline presence is vital for expanding market share. Until the entire market adopts online practices, consumers will continue to utilize omni-channel approaches."
Founder
Wellness brand
“With constantly evolving consumer behavior & retail expansion, D2C is developing as an ecosystem reshaping the e-commerce landscape. D2C brands are mobilizing technology along with a deep understanding of consumer needs & preferences to establish direct connections with their customer base"
Ashish Dhir
Senior Director, 1Lattice
“India’s D2C industry witnessed a total investment of ~US$ 4.1B from CY20-23 across ~730 transactions. The investments peaked in CY22, with total investments around ~US$ 1.6B across ~240 transactions."
Mandar Dandekar
Partner, 1Lattice
“AI is transforming marketing for D2C brands, allowing them to leverage generative and predictive capabilities to scale hyper-personalized customer experiences, regardless of budgets, team sizes, and region."
Ruchin Kulkarni
Co-founder, Toplyne

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Dive into the extensive analysis of India's booming D2C market

Get highlights on the rapid growth, key market segments, and the increasing adoption of AI and analytics that are setting new standards in retail.

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