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Ecommerce sales up 19% YoY in mid-year sales week of July 19-25

Economic Times

Economic Times · 1y ago

Ecommerce sales up 19% YoY in mid-year sales week of July 19-25

Ecommerce sales in India saw a 19% increase in value during the mid-year sales period of July 19-25 compared to the same period last year, according to Unicommerce. Sales were driven by Amazon's Prime Day and other competing sales on different platforms. While the mid-year sales were successful, experts believe they may not accurately reflect the potential growth in the upcoming festive season. Furthermore, the health and nutraceuticals segment saw a 78% growth, FMCG and agriculture grew 48%, and beauty and personal care grew 21% during the sale period. Discounts and deep discounting also played a significant role in driving sales.

Related News

Ecommerce order volumes up 19% during mid-year sales, driven by demand in Tier II cities

YourStory

YourStory · 15d ago

Ecommerce order volumes up 19% during mid-year sales, driven by demand in Tier II cities

Ecommerce order volumes in India saw a 19% year-on-year increase during mid-year sales, with strong demand from Tier II and III cities. Amazon's extended Prime Day and Flipkart's GOAT Sale were major contributors. D2C brands like Nasher Miles reported significant growth, particularly in non-metro areas. The trend of premiumization influenced consumer electronics sales, while fast deliveries boosted consumer satisfaction. Both online and offline retail sectors remain optimistic about the upcoming festive season.

Ecommerce funding falls 47% YoY to $224 Mn in Q3 2023

Inc42 · 1y ago

Ecommerce funding falls 47% YoY to $224 Mn in Q3 2023

The State of Indian Ecommerce Report for Q4 2023 reveals that funding in the ecommerce sector in India dropped by 47% YoY to $224 million in Q3 2023. No mega deals were observed during this quarter, indicating cautiousness from investors. However, the direct-to-consumer (D2C) sector remains a promising domain, securing 84.9% of the total ecommerce funding with $192 million. Seed stage funding increased by 11% YoY to over $29 million. The report also highlights positive consumer sentiment, with online festival sales reaching a Gross Merchandise Value (GMV) of $11 billion, up 16% from the previous year.

Festive sales hit $6.5 billion in a week on ecommerce street: report

Economic Times

Economic Times · 10m ago

Festive sales hit $6.5 billion in a week on ecommerce street: report

- Online marketplaces recorded a 26% increase in sales, reaching $6.5 billion in one week of festive sales. - Mobile phones, electronics, consumer durables, home, and general merchandise accounted for three-fourths of the total sales. - Sales in the first week made up for about 55% of the total expected ecommerce sales during the festive season this year. - Ecommerce giants Flipkart and Amazon India started their annual festive season sales on September 27, with a strong demand observed from tier-II and beyond cities. - Supply chain issues pose a significant challenge for brands during the festive rush, with demand exceeding expectations in some cases. - Quick-commerce platforms are also witnessing growth during the festive season, particularly in categories like wearables and audio products.

Unicommerce records 16% growth in clients' order volume during mid-year online sales

YourStory

YourStory · 1y ago

Unicommerce records 16% growth in clients' order volume during mid-year online sales

Unicommerce, a software-as-a-service (SaaS) platform for ecommerce operations, has reported a 16% increase in order volumes processed through its platform during mid-year online sales compared to the previous year. Gross merchandise value also grew 19% year-on-year. The health and pharma segment saw a 78% growth during the sale period, while FMCG, agriculture, and beauty, wellness & personal care categories witnessed volume growth of over 48% and 21% respectively. Unicommerce serves brands like Zivame, Fabindia, and Pharmeasy. The average order value in the electronics and home appliances category increased by more than 24%.

ETtech Deals Digest: Startups raise $221 million this week, down 45% on-year - The Economic Times

Economic Times

Economic Times · 1m ago

ETtech Deals Digest: Startups raise $221 million this week, down 45% on-year - The Economic Times

Startups raised $221.4 million from 19 deals between June 28 and July 4, reflecting a 45.1% decrease compared to $403.1 million during the same period last year, according to Tracxn data. Major deals included Jumbotail, a B2B ecommerce marketplace, raising $120 million, and AppsForBharat, raising $20 million. Deal activity remained subdued, with transactions falling to less than half compared to the previous year.

ETSA 2024 | Quick commerce not impacting kirana stores: Zomato’s Deepinder Goyal

Economic Times

Economic Times · 10m ago

ETSA 2024 | Quick commerce not impacting kirana stores: Zomato’s Deepinder Goyal

- Deepinder Goyal, CEO of Zomato, stated that quick commerce platform Blinkit is not impacting local kirana stores, but rather affecting ecommerce platforms like Amazon and Flipkart. - Blinkit, Zomato's quick commerce division, achieved a revenue of Rs 942 crore in Q1 FY25, a significant increase from Rs 384 crore in the same quarter last year. - Blinkit reported a gross order value (GOV) of Rs 4,923 crore, with a 130% YoY growth in the April-June quarter. - Quick commerce platforms are operating as horizontal online marketplaces, offering a wider range of products and experiencing higher sales. - Blinkit's growth is attributed to increased consumption and a shift in market share from next-day ecommerce and mid-premium modern retail in major cities. - India's quick commerce market is projected to reach nearly $22 billion in gross merchandise value (GMV) by 2027, as per Bofa Securities.

Nykaa Q3 FY24: Fashion vertical surges ahead, GMV expected to grow about 40% YoY

Inc42 · 1y ago

Nykaa Q3 FY24: Fashion vertical surges ahead, GMV expected to grow about 40% YoY

Beauty and fashion ecommerce major, Nykaa, experienced consistent growth across its three business verticals during Q3 FY24. Nykaa Fashion witnessed strong growth, with a projected GMV growth of around 40% and NSV growth in the low thirties YoY. However, the beauty and personal care business struggled, with expected GMV growth in the mid-twenties and NSV growth around 20% YoY. The Superstore By Nykaa vertical had high growth and now contributes a significant share to the company's overall NSV. Nykaa anticipates consolidated NSV growth in the mid-twenties and revenue growth in the low twenties YoY.

Tesla reports robust profit increase on strength of battery storage sales

Economic Times

Economic Times · 9m ago

Tesla reports robust profit increase on strength of battery storage sales

Tesla reported a 17% increase in profit for the third quarter, driven by strong growth in battery storage and other businesses. The company earned $2.2 billion, compared to $1.9 billion the previous year, with sales reaching $25.2 billion. While car sales saw a modest increase, Tesla cautioned investors about minimal growth in car deliveries this year. The company's performance was boosted by sales of storage batteries (up 52% YoY) and revenue from services like charging (up 29% YoY). Additionally, Tesla made $739 million from selling regulatory credits to other automakers.

Bajaj Auto December sales grow 16% YoY to 3.26 lakh units

Livemint

Livemint · 1y ago

Bajaj Auto December sales grow 16% YoY to 3.26 lakh units

Bajaj Auto reported a 16% YoY increase in sales, with a total of 3,26,806 units sold in December 2023. Domestic sales saw a 28% growth to 1,90,919 units, while exports rose by 2% to 1,35,887 units. In the two-wheeler segment, total wholesales stood at 2,83,001 units, up 15% YoY. The company's commercial vehicle sales also saw a significant increase of 27%. For the entire year of 2023, Bajaj Auto's total sales rose by 7% to 32,82,357 units.

SoftBank, Snapdeal expect massive returns from Unicommerce IPO

YourStory

YourStory · 1y ago

SoftBank, Snapdeal expect massive returns from Unicommerce IPO

SoftBank and Snapdeal are set to receive significant returns as Unicommerce, a retail and ecommerce enablement SaaS platform, prepares for its $130-million initial public offering. Snapdeal holds a 35% stake in Unicommerce, while SoftBank holds just over 29%. Both companies are expected to see returns of more than 3X. Unicommerce, which offers SaaS solutions for ecommerce operations, has set a price band of Rs 102-108 for its IPO. The company has experienced notable growth, with a 16% increase in client order volume during mid-year online sales.

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