A recent study conducted by consulting firm Bain & Company and fashion e-commerce giant Myntra has predicted that India’s lifestyle market will grow to $210 billion by 2028. The study also projects that online penetration in the sector will increase to 18% by the same year.
The Indian lifestyle market, which includes categories such as apparel, accessories, footwear, home decor, and personal care products, is currently valued at $86 billion. With the rise of e-commerce platforms and changing consumer behavior, the market is expected to nearly triple in value over the next seven years.
The study highlights the growing importance of online shopping in the lifestyle sector, with consumers increasingly turning to digital platforms for their shopping needs. This trend is expected to continue as more users gain access to the internet and become comfortable with making purchases online.
The report also underscores the need for retailers and brands to adapt to the changing landscape by investing in their online presence and customer experience. Companies that are able to effectively leverage technology and provide a seamless shopping experience are likely to succeed in capturing a larger share of the market.
Overall, the study paints a positive outlook for the future of India’s lifestyle market, with significant growth expected in the coming years. As online penetration continues to increase, retailers and brands will need to innovate and adapt to stay competitive in this rapidly evolving industry.
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