- India‘s online fashion and lifestyle market to grow from $16-17 billion to $40-45 billion by 2028.
- E-commerce penetration in lifestyle sector to rise from 13% to 18-22%.
- Gen-Z consumers are driving the market growth with more frequent purchases.
India’s e-lifestyle market is undergoing a transformative expansion, with projections indicating a rise from $16-17 billion today to $40-45 billion by 2028.
The report highlights that over 175 million Indians are currently engaged in online shopping for lifestyle products, making an average of 6-7 transactions annually.
Projections Show India’s E-Lifestyle Market Will Reach $45 Billion by 2028
The Bain & Company-Myntra report sheds light on the future of India’s online fashion and lifestyle market, predicting a substantial increase in value from the current $16-17 billion to $40-45 billion by 2028. This represents a compound annual growth rate (CAGR) of 10-12%, driven by various economic and demographic factors.
E-commerce penetration within the lifestyle sector is expected to rise significantly, from 13% today to between 18-22% by 2028. This means nearly one-fifth of all lifestyle spending in India will be conducted online. The growing popularity of online shopping among Indians, especially Gen-Z consumers, is a key driver of this trend. Gen-Z shoppers, who make up a significant portion of the online consumer base, are purchasing more frequently than their older counterparts.
Fashion remains the dominant segment within the e-lifestyle market, accounting for 75-80% of total sales. The beauty and personal care segments also show strong potential for growth. The market for online trend-first products is particularly noteworthy, with expectations of growth from $0.5 billion to $4-5 billion by 2028. This segment is set to see online penetration increase from 30-35% to 50-55%.
The presence of global lifestyle brands in India is also playing a crucial role in market growth. According to the report, 90% of the top 50 global lifestyle brands are active in the Indian market, with half of these generating over $30 million in annual revenue. This increased brand presence is helping to fuel consumer interest and spending in the online lifestyle market.
The projected growth of India’s e-lifestyle market underscores the dynamic nature of the country’s retail sector, driven by technological advancements and changing consumer behaviors. As more Indians embrace online shopping, the market is set to become a significant force in the global e-commerce landscape.
“Advancements in AI-driven personalization, virtual try-ons, and voice-assisted shopping are enhancing the online shopping experience.”
