India’s E-commerce market to reach $325 billion, consumer spending grows at 8.7%, reveals Deloitte report – Brand Wagon News

India’s consumer spending is growing rapidly, driven by rising incomes, urbanisation, and easier access to credit. With private consumption increasing at 7.3% in FY24 and per capita income crossing $2,600, people are spending more on non-essential items like fashion, food, and wellness, as per Deloitte’s ‘India’s changing Discretionary Spending’ report . By 2030, discretionary spending is expected to grow at an annual rate of 8.7%, with rural areas seeing slightly faster growth than urban centers.

A major factor behind this shift is the rise of organised retail and online shopping. Organised retail is expanding at 10% per year and is set to reach $230 billion by 2030. Online retail is growing even faster and is expected to triple from $103 billion in 2024 to $325 billion by 2030. Credit card usage is also increasing, with the number of cards expected to rise from 102 million in 2024 to 296 million by 2030. With easier payment options, consumers are making more high-value purchases.

Food habits are also changing. The food and beverage market, currently valued at $700 billion, is projected to reach $1 trillion by 2030. More people are choosing packaged and premium food options, with packaged food growing at a faster rate than fresh food. Online food delivery is also gaining popularity, and its share in the overall food service industry is expected to increase from 12% to 20% by 2030.

The apparel and footwear market is experiencing a similar transformation. Currently worth $78 billion, it is expected to grow to $106 billion by 2028. While men’s clothing still dominates, women’s fashion and athleisure wear are growing rapidly. Fast fashion brands, which cater to Gen Z’s demand for trendy and affordable clothing, are expanding at a rate of 20–30% per year and could surpass $50 billion in value by FY31. With organised retail expanding beyond metro cities, more shoppers in smaller towns are also switching to branded products.

The health and wellness industry is another area seeing strong growth. Currently valued at $50 billion, the market is expected to reach $90 billion by 2030. More people are spending on preventive healthcare, fitness, and mental wellness. Nutrition and dietary supplements are leading this trend, followed by beauty and personal care, fitness services, and mindfulness-related products. Consumers are also showing more interest in organic and sustainable products.

The home and household sector is expanding as well, driven by an increase in homeownership and rising disposable incomes. Currently valued at $72 billion, it is projected to reach $138 billion by 2030. Furniture and home décor lead the market, while kitchen and bath fittings are among the fastest-growing segments. E-commerce is playing a big role in this growth, making home products more accessible to consumers across the country.

With these shifts in spending, brands are adapting by offering more premium, digital, and sustainable options. Social media and influencer marketing are also becoming key strategies to attract younger consumers. As people’s shopping habits continue to evolve, businesses that keep up with these trends will be well-positioned to succeed in India’s growing market.

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