25 April 2024 — A report by Elevation Capital predicts a significant rise in India’s online consumer spending by 2030, with new-age consumer tech companies poised to capture a substantial market share.
Elevation Capital’s report anticipates a doubling of India’s online consumer spending to $300 billion by 2030, signaling a massive opportunity for new-age consumer tech firms.
The report highlights untapped marketplaces and emerging monetization models, presenting multi-billion-dollar opportunities for businesses targeting India’s evolving consumer landscape.
With affluent households contributing significantly to discretionary spending, the report projects a $100 billion market opportunity, particularly in sectors like real estate, leisure travel, healthcare, and pet care.
Elevation Capital expresses confidence in the potential of consumer tech businesses, citing past successes and market trends as indicators of future growth and innovation.
Lowering cost barriers and increasing internet access create a fertile ground for brand-building, with the report estimating a $50 billion market capitalization for new-age consumer brands by 2030.
Contrary to misconceptions, Elevation Capital believes there are numerous untapped marketplaces and opportunities for disruptive innovations, especially in complex categories.
Conclusion:
The Elevation Capital report paints a promising picture of India’s consumer tech landscape, projecting substantial growth in online spending and the emergence of new-age consumer brands as key players in shaping the future economy.
Source: Link
