India’s E-Commerce Logistics Shipments Grew to 4 Billion in FY23

India’s e-commerce logistics domain, especially Direct to Consumer (D2C), is expected to exceed 10 billion annual shipments by the Financial Year 2027-28. A Redseer Strategy Consultants report states that shipments for the e-commerce logistics industry, excluding hyperlocal parcels, grew to 4 billion in Financial Year 2023. This included a roughly equal share of both in-house players and third-party logistics.

The report mentions intensifying competitive trends emerging from smaller incumbents, with yields also being challenged. However, the market still looks promising, with the holistic e-commerce logistics opportunity to grow at a minimum CAGR of 20 per cent to easily surpass 10 billion shipments by FY 2028, depending on steady e-commerce growth.

Redseer observed D2C brands across channels are expected to grow overall gross merchandise value (GMV) by 35 per cent in the future to reach $33 billion across all channels by 2027. Logistics players with relevant and personalised services for D2C brands are positioned well to capture significant market share in this lucrative domain and can have a stronger yield profile in the future.

Delhivery, the Delhi-based logistics firm, remained the market leader in FY23 within e-commerce 3PLs (third-party logistics) shipments. It remains immune to the latest e-commerce pressures versus peers due to its significant non-e-commerce clientele exposure.

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