Ecommerce order volumes up 20%, GMV higher 24% YoY as festive season begins: Unicommerce
Several product categories recorded an increase in volume, according to Unicommerce, including fashion and accessories which saw over 32% growth, driven by strong demand for items like travel accessories, watches, and children's clothing.
Ecommerce festive season sales are off to a strong start, with order volumes up 20% year-on-year in the first four days of the 2024 sale (September 26-29) compared with the same period last year (October 7-10, 2023), according to a report.
The ecommerce enablement SaaS platform analysed over 1.3 million orders during the same period and found gross merchandise value (GMV) surged 24% YoY.
“Festive season sale has become an exciting phase of the year when everyone awaits the attractive offers and the extensive variety of products. While this continues as a trend year after year, we see an increasing number of brands participating in the sale season, affirming India's status as a digitally forward country,” Kapil Makhija, MD and CEO of Unicommerce, said in a statement.
Several product categories recorded an increase in volume, including fashion and accessories which saw over 32% YoY growth, driven by strong demand for items like travel accessories, watches, and children's clothing.
The report stated makeup products recorded a 54% YoY growth during this festive sale. The health and pharma segment also performed well, with a 33% increase in volume compared with last year, highlighting a surge in demand for nutraceuticals and fitness supplements.
The festive season sales represent a period when major ecommerce giants fiercely compete for market share by enticing consumers with flashy discounts and promotional offers. Both Flipkart and Amazon launched their annual festive sales on September 26.
This year, quick commerce players are also ramping up their strategies to draw in customers.
According to a report by Datum Intelligence, online shoppers are expected to spend over Rs 1 lakh crore during the 2024 festive season, with the segment expected to secure an 8% share of that market.
Although the home decor category saw a marginal rise in volume, it reported a GMV increase of over 50% compared with last year.
Phone accessories, books, sports and fitness items, and healthy snacks were some of the other products that experienced strong demand during this period.
Founded in 2012, Unicommerce offers SaaS solutions to streamline end-to-end ecommerce operations for brands, retailers, marketplaces, and logistics providers. Its clients include Zivame, Mamaearth, Lenskart, Fabindia, SUGAR Cosmetics, and boAt Lifestyle.
Edited by Kanishk Singh