Unicommerce released its report- India Retail and E-commerce Trends and reported that massive upheavals frequently serve as a stimulus for company change. The exponential growth in digital adoption and ecommerce across Indian retail, spurred by Covid-19, is a remarkable example.
Lockdowns, social isolation, wider product selections, and convenience have all contributed to an increase in internet purchasing over the past two years.
Emerging Markets Continue To Expand Strongly
Across digital purchasing platforms, the beauty and personal care market continues to demonstrate robust development. With sustained YOY growth over the past two years, this market segment has become a serious contender.
In comparison to other segments, beauty and personal care continues to have the fastest development, with 2022 order volume and value growth rates of 143 per cent and 132 per cent, respectively, over the previous fiscal year.
The largest order volume contributor to the entire ecommerce market has always been clothing, accessories, and footwear.
Fashion, accessories, and footwear record high order volume growth of 59.7 per cent and 67.8 per cent, respectively, as things get back on track.
With a YOY rise of 66 per cent in order volume and 60 per cent in order value, the eyewear segment is still expanding steadily. Sunglasses and eyeglasses dominate this market area.
Rise of Ecommerce In India
Since these areas have twice the development rate of Tier one cities, shoppers from Tier two and Tier three cities make up the majority of the Indian ecommerce sector. The ecommerce industry’s key growth levers are becoming annual demand from tier two and tier three locations.
The results show that tier two and tier three cities had respective YOY growth rates of 92.2 per cent and 85.2 per cent. Due of this, tier one cities’ growth has been slower (47.2 per cent).
The greatest ecommerce order volumes are contributed by Maharashtra, Delhi-NCR, and Karnataka.