.png)
All domestic sellers bring their game face on come September, which heralds the onset of the Indian eCommerce festive season. And this year’s numbers did not disappoint! If anything, it supports Deloitte’s prediction that online and offline retail sales totalling $1.56T will come true by January 2024, indicating that we’ll be looking at a YoY growth of 3.5-4.6% in 2023. The holiday block ended in November on a high note, with D2C brands in the lead both in terms of volume and retail sales, experiencing 98.48% growth versus marketplaces that raked in 32.37%.
The increasing internet penetration, disposable incomes and heightened awareness to the concept of online shopping have favored Tier 2 and 3 cities with a windfall. This year, in a surprising twist, Tier-4 Diwali eCommerce shoppers have secured first place in the list, beating even Tier-2 and Tier-3 sales by a margin of 21.74% and 10% respectively.
With holiday sales expected to rise to $284B by January 2024, EasyEcom’s extensive findings from the seller dashboard reveal that D2C websites overtook marketplaces by 66.1%, with beauty and personal care, clothing and apparel and mobile electronics emerging as the top three best performing categories.Q4 2023 started strong and positioned to beat 2022’s numbers, with Tier 4 and 3 cities recording the highest Diwali sales against Q3. Diwali sales grew to 94% and (~)85% respectively while Tier 4 recorded the highest quarterly performance across the year, at 42.3%.
The eCommerce market has captured 50% of retail sales, rising up by 5% from 2022. And with D2C brands growing 1.6x, the future of eCommerce holds great potential and promise for emerging brands and enterprises. The eCommerce opportunity is on a steadfast growth trajectory, which sellers can tap into by adopting automated eCommerce enablement. With a powerful automated eCommerce operating system like EasyEcom, merchants have instant access to inventory, order, warehouse and accounting insights, ensuring absolute visibility and unlimited gains!
