The highly-anticipated E-commerce Pulse by Similarweb is live — deep dive into India's consumer spending across the fastest growing industries!

Uncover online traffic patterns and acquisition tactics in three key ecommerce industries:

• Lifestyle
• Fashion & Apparel
• Beauty & Cosmetics
• Jewelry & Luxury Goods
• Consumer Electronics
• Fintech

Key Findings Include

S&P Global's projections highlight a promising trajectory for the Indian economy, with an anticipated average annual growth rate of 6.7% up to March 2031. This growth is set to be propelled by key drivers such as manufacturing, services exports, and consumer demand, even amidst short-term challenges posed by rate hikes and a global economic slowdown.

The Indian consumer market is projected to double by 2031, surging from $2.3 trillion in 2022 to an impressive $5.2 trillion. This increase is attributed to the rising tide of household incomes and heightened spending habits among consumers.

According to United Nations estimates, India is the world's most populous country, with a population of 1.4 billion, after recently surpassing China. Notably, over 600 million individuals fall within the age bracket of 18 to 35, and this trend is anticipated to continue until at least 2055-56. Consequently, an estimated 24.3% of the incremental global workforce for the upcoming decade is poised to originate from India. This holds substantial significance, particularly when juxtaposed with the aging populations in developed countries.

Collectively, these elements contribute to India's compelling growth narrative, a story that resonates not just in conventional economic indicators but also through digital trends spanning various sectors. The synergy of robust consumer demand and the adoption of digital technologies mirrors the larger picture of India's economic vibrancy and its expanding role on the global stage.