~Marketplaces grow faster in volumes, brand websites score more on GMV growth~
~Fashion & beauty personal care drove volumes~
~Rajasthan and Uttarakhand became the top two states in terms of ecommerce order volume growth~
Mumbai, November 9th 2023: Unicommerce, one of India’s leading e-commerce enablement Software-as-a-Service (SaaS) platforms, has unveiled its analysis of the recently concluded festive season sale of 2023.
The analysis of orders processed through Unicommerce’s platform reveals that e-commerce order volumes grew handsomely this festive season, increasing by approximately 37% during the festive season sale of 2023 as compared to festive sale period in 2022. In addition to the substantial growth in order volumes, the Gross Merchandise Value (GMV) also saw an increase of 22% during the same festive period.
The success of the festive season sale in parts may be attributed to attracting discounts on the online marketplaces and robust advertising campaigns. This has helped marketplaces record an impressive year-on-year (YoY) order volume growth of 39%. Brand websites, on the other hand, also reported a strong 23% increase in ecommerce order volumes.
Interestingly, the GMV reported an inverse trend with brand websites recording a 29% YoY GMV growth, while marketplaces recorded a 21% YoY GMV growth. This may signify that consumers are not only ordering more, but loyal customers are increasingly purchasing directly from their trusted brands, leading to a surge in average order values.
The fashion and accessories segment along with beauty and personal care, emerged as the two most prominent categories in terms of order volumes. These segments displayed consistent growth in both volume and GMV during the festive month. Categories like FMCG and home decor have emerged as strong ecommerce contenders which are now laying inroads for newer segments to flourish in the ecommerce ecosystem.
As per the orders processed through Unicommerce’s platforms, Rajasthan and Uttarakhand took the lead to become the top two states in terms of growth in order volumes, with Haryana at the third position, Uttar Pradesh at the fourth, and Meghalaya in the fifth spot.
Another striking trend observed during the festive season sale was the remarkable rise of prepaid orders this year, increasing by over 45% as compared to the last year. In contrast, Cash-on-Delivery (COD) orders grew by 20% during the same period. The surge in prepaid orders can be attributed to lucrative bank offers and convenient EMI options, making it an encouraging trend for the industry.
Speaking on the consumer response during the festive season, Kapil Makhija, CEO Unicommerce stated, “The festive season determines the growing scale of e-commerce in India. As industry sectors continue to embrace the country’s ecommerce ecosystem, shoppers from across India’s length and breadth are willingly opting for online shopping. We ensure that our technology is easily accessible and deployable for sellers considering the fundamental complexities of the Indian market.
Unicommerce’s e-commerce enablement Software-as-a-Service (“SaaS”) platform enables end-to-end management of e-commerce operations for marketplaces, brands, sellers and logistics service provider firms.
Disclaimer: The aforesaid analysis is based on orders processed by Unicommerce eSolutions Private Limited (“Company”) may not be indicative of actual trends of industry, and are subject to external factors beyond the control of the Company. The information in this report does not constitute financial advice (nor investment, tax, accounting or legal advice), and recipients shall rely on its independent assessment of industry outlook. Past performance information in this report should not be relied upon as an indication of (and is not an indicator of) future performance of any of the products or categories.
