Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Indian e-commerce sails through the storm with a 38% growth in 2019

Indian e commerce sails through the storm with a 38 growthRiding against the winds of economic slowdown, the Indian internet industry grew by 38 per cent to $76 billion in 2019. Consumers, earlier cautious of their overall expenditure, spent nearly $3 billion within the first six days of these sales. Most of this money was spent on items like mobiles, electronics, large appliances and home décor items.

E-commerce fared well in 2019 as e-tailers introduced multiple affordability initiatives such cashbacks, private labels, no-cost EMIs etc. Consumer base of e-shoppers from Tier II grew by 50 per cent as the strong value proposition provided by e-tailers drove most of the non-metro customers to online shopping driven.

Convenience, sales drive online shopping

As online shoppers are mainly driven by convenience, most of their shopping is done between 8 pm and 11 pm, known asIndian e commerce sails through the storm with a 38 growth in 2019 the prime time for digital shoppers. Around one third of this shopping also happens through the course of the night which reinforces the consumers’ quest for convenience.

As the Nielsen’s E-Analytics solution reveals, shoppers mostly hold back their spending for the sale period. This is evident from the fact that more than 84 per cent of festive season sale is recorded from September 28 to October 25 as against just 16 per cent during non-sales days. While mobiles contribute around 48 per cent to these online sales, buyers are also increasingly buying fashion online. They mostly spend on apparels, footwear, luggage and accessories. Within this, men’s clothing is the highest contributor with 58 per cent while women’s clothing contributes 36 per cent.

Robust sentiments driving investments

Despite a few blips, investor sentiment continued to be robust in 2019. The government decided not to extend the February 1 deadline to comply with the revised norms relating to FDI in e-commerce. Although the total number of e-commerce firms funded in 2019 dropped to 126 compared to 136 in 2018, the total amount of funding raised by these firms in 2019 increased by 56 per cent to $2.35 billion.

Many new funds were being set up in the start-up and venture capital space which provided sufficient capital to e-commerce firms. After years of being a nuisance, the Angel Tax was comprehensively addressed. CSR funds for incubators and accelerators were raised. These included $16 billion raised by Paytm, $10 billion raised by OYO and other funds raised by Udaan, Freshdesk, Swiggy and Byju’s. In 2020, e-tailing would be dominated by OTAs (online travel agents) who are set to exceed GMV of $40 billion in 2020.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

India’s garment industry hit hard by second COVID wave: CMAI

India’s garment industry hit hard by second COVID wave: CMAI

    The Indian apparel industry, which was on a path to recovery since the beginning of this year, has being hit once more by the second COVID-19 wave. A survey conducted... Read more

COVID-19 suspends Amazon’s Prime Day sale

   The second COVID-19 wave has led to suspension of Amazon’s annual Prime Day sale in India. Along with Google and other Indian firms, Amazon has come forward to help India... Read more

Fashion retailers seek rental rebates

Fashion retailers seek rental rebates

     Fashion retailers are seeking rental rebates from high-street landlords and shopping malls as the COVID-19 pandemic continues to play havoc with their businesses. As per Money Control report, Benetton India... Read more

Conscious consumption drives launch of new sustainable collections in India

Conscious consumption drives launch of new sustainable collections in India

    The pandemic has caused some attitudinal change amongst Indian consumers. From racing to acquire latest fashion trends, they are now emphasizing on slow consumption. Growing popularity of plant fiber collections This is... Read more

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

     E-tailers are introducing new solutions for sellers suffering from pandemic-led effects. Startup Dealshare is doubling its pace of transforming business in small towns to online platforms. This helps the company... Read more

Apparel brands launch new initiatives, collections to attract customers

Apparel brands launch new initiatives, collections to attract customers

     To attract consumers, apparel and lifestyle brands have introduced a clutch of initiatives besides launching new comfortable clothing ranges and expanding online presence Label Ritu Kumar which has launched ‘Label... Read more

India’s menswear market a $34 billion opportunity for brands

India’s menswear market a $34 billion opportunity for brands

    Earlier restricted to staple products like jeans and polo shirts, Indian menswear market is currently bigger than women’s wear says a Vogue Business report. It’s estimated at $26 billion and... Read more

Fashion brands donate proceeds to COVID-19 relief

Fashion brands donate proceeds to COVID-19 relief

     To help India through its second COVID-19 wave, many fashion brands are offering their proceeds to NGOs supporting the cause. As per a Desi Blitz report, global sculptural design jewelry... Read more

Rents in India’s most iconic retail hubs decline

Rents in India’s most iconic retail hubs decline

     A study by Anarock Retail of average rentals of iconic retail hubs reveals a 17 per cent drop in rents for India’s most expensive retail real estate, the Khan Market... Read more

Promotions take backseat as brands focus on socially relevant ad campaigns

Promotions take backseat as brands focus on socially relevant ad campaigns

    The advertising world is changing with brands replacing product promotions with COVID-19 related content and messages on their social media handles reports Economic Times. Clothing brand United Colors of Benetton... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.