The report highlights the volume growth of e-commerce in FY (fiscal year) 2023 across various categories including electronics, fashion and lifestyle, home decor and health and pharma
‘India E-commerce Index 2023’ report by e-commerce enablement SaaS platform Unicommerce highlights the volume growth of e-commerce in FY (fiscal year) 2023 across various categories including electronics, fashion and lifestyle, home decor and health and pharma.
It also elaborates on the consistently rising consumer inclination towards online shopping and provides a rationale for the rapid adoption of omnichannel strategies by brands to cater to the rising demand across both physical and digital channels.
The report further explains how tier-1 cities made a comeback post-pandemic with a significant YoY (year over year) order volume growth and the enormous potential of tier-2 and tier-3 cities in the growth of e-commerce.
Key findings of the report are as follows:
- The e-commerce space has witnessed robust growth in the electronic products and peripherals segment with a notable 46.8% YoY order volume growth and GMV grew by 20.6% in FY-2023.
- Tier 1 regions indicated the highest YoY order volume growth of 31.1% during FY 2023, followed by tier 2 and tier 3 cities, which witnessed YoY order volume growth rates of 23.3% and 22.4% respectively.
- The return rate for cash on delivery (COD) orders stood at 20.9%, a slight uptick from the 19.3% recorded in FY 2022.