India D2C GMV set to nearly 5x to $310 Bn by 2031, capturing two-thirds of ecommerce
Inc42 flags a 'D2C 3.0' era defined by retention, quick commerce and micro-category plays. D2C GMV is projected to grow from $65 Bn to $310 Bn at 37% CAGR through 2031, accounting for 85-86% of incremental ecommerce. F&B leads with ~1/3 of funded startups and ~$3 Bn raised; sector has drawn $10 Bn across 1,400+ deals since 2015.
Inc42 report identifies D2C 3.0 era focused on retention, quick commerce, and micro-category plays. India D2C GMV projected to grow from $65 Bn to $310 Bn by 2031, capturing two-thirds of ecommerce, with F&B and beauty leading.