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Over 1000 D2C Brands Kick Off Festive Season With 20 Per Cent Rise In Order Volume: GoKwik

OutlookIndia

OutlookIndia · 1y ago

Over 1000 D2C Brands Kick Off Festive Season With 20 Per Cent Rise In Order Volume: GoKwik

E-commerce enabler GoKwik reported a 20% increase in order volume during the first phase of the holiday shopping season compared to the same period last year. The non-deliverability rate for cash on delivery (COD) orders also saw a decrease of 26%, indicating the effectiveness of GoKwik's solutions in reducing return-to-origin losses. The fashion category witnessed the largest growth in order volume, with a record increase of 148% and customers taking advantage of 12.1% more discounts compared to the previous year. Maharashtra, Uttar Pradesh, and Karnataka were the top contributing states to the surge in orders.

Related News

Amazon Prime Day boosts sales across categories, but smartphones lag - The Economic Times

Economic Times

Economic Times · 25d ago

Amazon Prime Day boosts sales across categories, but smartphones lag - The Economic Times

Amazon's Prime Day sale saw substantial growth in several categories, including electronics, beauty, home, and fitness, despite lagging smartphone sales. Brands reported up to sixfold sales increases, indicating robust consumer demand and a strong start to the festive shopping season. This event serves as a crucial sales boost and market indicator ahead of the festive quarter. While metro city sales remained strong, tier II and III cities contributed significantly to the order volume.

Meesho's festive sale sees record orders on first day, 100% up on year

Economic Times

Economic Times · 10m ago

Meesho's festive sale sees record orders on first day, 100% up on year

Ecommerce platform Meesho saw a surge in orders during its festive season sale, with nearly double the number of orders compared to last year. The company reported a record-breaking start to its Mega Blockbuster Sale, with about 6.5 crore unique customers on the first day. Nearly 45% of the orders came from first-time customers. Meesho's success comes as Amazon and Flipkart also kick off their festive season sales, with ecommerce platforms anticipating increased demand for high-value items like electronics and fashion. A survey showed that 71% of Indians plan to shop online this festive season.

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.

Startup news and updates: daily roundup (August 26, 2024)

YourStory

YourStory · 11m ago

Startup news and updates: daily roundup (August 26, 2024)

Velocity, a financing platform, has set aside Rs 400 crore to provide funding for direct-to-consumer (D2C) and ecommerce brands during the festive season sales. This allocation is an increase of over 60% compared to the previous year, indicating higher expectations for this year's festive season. The financing will support brands on various ecommerce platforms, allowing them to expand their product range, improve delivery times, and take advantage of emerging trends. Additionally, InsuranceDekho has launched Heph, a SaaS platform designed to streamline operations for insurance distributors. Fintech startup POP has achieved a monthly run rate of one million UPI transactions.

GoKwik partners with ecommerce giant Flipkart to offer SuperCoins for D2C shoppers

IndianStartupNews

IndianStartupNews · 1y ago

GoKwik partners with ecommerce giant Flipkart to offer SuperCoins for D2C shoppers

Indian startup GoKwik has partnered with Flipkart, a leading e-commerce player, to integrate Flipkart's SuperCoins program into its KwikCheckout solution. This collaboration enables customers to redeem SuperCoins from a wide range of direct-to-consumer (D2C) brands, improving the checkout experience and driving better customer retention and conversion rates. GoKwik aims to enhance the e-commerce ecosystem by providing access to SuperCoins beyond the Flipkart platform. The startup focuses on data-driven solutions to enhance growth for e-commerce and D2C brands.

D2C brands saw a 36% surge in order volume during Republic Day sale period: GoKwik

Economic Times

Economic Times · 6m ago

D2C brands saw a 36% surge in order volume during Republic Day sale period: GoKwik

During the Republic Day sale period, GoKwik reported a 36% order surge in its network, highlighting a revival in shopper enthusiasm and a 41% increase in GMV compared to last year. Beauty and fashion drove the surge, with footwear orders almost doubling. A notable trend included prepaid orders surpassing COD orders by 11%, reflecting growing trust in D2C brands. Tier-3 cities contributed significantly to the order surge, and digital payment adoption increased.

GoKwik clocks $20 million in FY24 sales, expects to double in current year

Economic Times

Economic Times · 1y ago

GoKwik clocks $20 million in FY24 sales, expects to double in current year

Indian ecommerce enabler, GoKwik, reported sales of $20 million in FY24 and expects to double its revenue in the current fiscal year. With over 4,000 ecommerce brands in its network, the company aims to onboard 15,000 brands by next year. GoKwik offers solutions to predict customer behavior and prevent return-to-origin (RTO) orders, which can be costly for ecommerce brands. The company believes that the direct-to-consumer (D2C) model will gain traction, AI will help solve ecommerce challenges, and influencer-led commerce will continue to grow. GoKwik aims to achieve profitability at the company level by FY26.

Mid-year ecommerce sales spike sets the stage for cracking festive season - The Economic Times

Economic Times

Economic Times · 23d ago

Mid-year ecommerce sales spike sets the stage for cracking festive season - The Economic Times

Ecommerce companies witnessed a 19% rise in order volumes during a recent sale, driven by strong consumer demand in electronics, appliances, and fashion, particularly from tier-II and III cities. The increased sales, coupled with a promising pre-season performance, suggest a rebound in the sector, boosting optimism for the upcoming festive season, including Diwali. Companies are now preparing by launching new products and ramping up inventory to meet anticipated demand.

Festive sales end with a bang, after Rs 1 lakh crore of clicks

Economic Times

Economic Times · 9m ago

Festive sales end with a bang, after Rs 1 lakh crore of clicks

Ecommerce platforms in India recorded total sales of nearly Rs 1 lakh crore ($11.9 billion) during the festive season, expanding by over 23% from the previous year. The growth was driven by demand from non-metro consumers and increased purchases of luxury brands. Smartphones emerged as the leading category, accounting for nearly 65% of all smartphone sales. Premium fashion and large appliances also saw significant growth. The rise in festive sales was reflected in the increase in Unified Payments Interface (UPI) transactions and total settlements. Quick commerce performed better than expected, contributing about $1.1-1.2 billion in sales. Homegrown direct-to-consumer brands saw a significant increase in revenue.

Luxury brands getting set to open new doors, to be ready by festive quarter

Livemint

Livemint · 1y ago

Luxury brands getting set to open new doors, to be ready by festive quarter

Several luxury brands are opening new stores in India ahead of the festive season, indicating a potential boost for the industry after a slowdown due to extreme summer heat and general elections. Brands such as Aquazzura, Diptyque, Baccarat, and Golden Goose are set to launch stores in Delhi, Mumbai, and Bengaluru. Luxury shopping centres like DLF Emporio and The Chanakya are also planning to add new brands and expand their offerings. The rise in luxury consumption in India is attributed to the country's growing affluent population and rising disposable incomes.

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