2020 festive season has witnessed a sharp growth of 56% in order volume in the e-commerce industry as compared to the previous year’s festive season. The order volume led to a 50% growth in GMV. As the pandemic hit the world leading to a sharp shift of shopping pattern, the customers have now become value-conscious than before and now, they are interested in buying across new categories. The sales of lower value products have led to decreased to as much as 4% in average order value as compared to the previous year.
The report also mentions rising consumer demands India-made products. The e-commerce industry is witnessing a rising number of first-time online shoppers and has emerged new categories. Personal care category is the biggest gainer with 176% order volume growth. Another category is Beauty and Wellness reporting 52% order volume growth. The biggest concern of the online Indian retailers remains the returns policy of the products. An overall percentage of 35% was recorded as decreased in the returns this festive season.
2020 has made brands indulge seriously into an online business with constant growth. Not only market places, but brands, individually are focusing more on Direct to Consumer services with the help of technology and their websites. Renowned brands are now preferring the product selling through their own websites.
With this, brands have witnessed 77% order volume growth wherein the volume of the marketplace stands at 60%. Many brands have focused on creating online mediums to broaden their sales because, in the coming times, people would prefer more online shopping.
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