Online retail market to cross $90b in 2026 with grocery overtaking mobiles: Redseer
The gross merchandise value of India’s ecommerce market expanded roughly 25% on a year-on-year basis to about $38 billion in the first half of 2026, marking its strongest H1 performance in four years.
India's online retail market is set to exceed $90 billion by 2026, with a projected annual growth rate of 22-24%, according to Redseer Strategy Consultants. This rapid expansion is primarily driven by the grocery sector, which is anticipated to overtake mobile phones as the second-largest category in the e-commerce space. Despite mobile sales remaining stagnant at 0% growth in the first half of 2026, the overall ecommerce gross merchandise value (GMV) expanded by approximately 25% year-on-year, marking its strongest performance in four years.
Other growth areas include beauty and personal care, and home and furniture, which are expected to contribute around 40% of the total GMV by 2026, accounting for roughly three-fifths of the incremental GMV added during the year.
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