E-commerce logistics industry of India crosses 4 billion shipments in FY23: Report

New Delhi, Apr 11 (KNN) Riding on new categories, direct-to-consumer (D2C) brands along with continued growth in smaller cities, the e-commerce logistics industry crossed 4 billion shipments in FY23, according to the latest report by Redseer Strategy Consultants.

The report launched on Tuesday pointed out that India’s e-commerce logistics space is on right path to touch 10 billion shipments by FY28 at a minimum compound annual growth rate (CAGR) of 20 per cent.

Mrigank Gutgutia, Partner, Redseer Strategy Consultants said, “Despite funding headwinds in e-commerce/internet sectors, there are multiple pockets of high growth and high yield opportunities available for e-logistics players, be in D2C or large goods or non-ecommerce segments.”

As per the report, irrespective of the growing completion, Delhivery remains the largest player in the e-logistics space by a comfortable margin.

D2C brands across channels are expected to grow overall GMV at 35 per cent in next few years, with brand.com accounting for a significant share of this growth.

A total of USD 33 billion of GMV is expected to be generated from D2C brands across all channels by CY27, the report added.

Redseer further pointed out that the logistics players with relevant and customised offerings for D2C brands are well-positioned to capture market share in this high growth segment as well as have a stronger yield profile going forward.  (KNN Bureau)