Google News

ONDC Network records 5 million retail orders in May 2024

Must Read

Delhi, Uttar Pradesh, and Maharashtra remained the top three states in terms of Network orders

New Delhi: The Open Network for Digital Commerce (ONDC) recorded 8.9 million transactions across retail and ride-hailing segments and 23% month-on-month increase in total transaction volume, the Open Network said in a press release on Tuesday.

The retail segment recorded 5 million orders in May, up from 3.59 million in April and a single-day record of 200,000 retail transactions in May. The grocery and food delivery categories each crossed the 1 million orders for the first time, home and kitchen had 630,000 orders, fashion had 330,000 orders, and other retail sub-categories had 2 million orders. The food segment accounted for around 20% of total retail orders in May compared to 76% a year ago.

The ride-hailing segment witnessed slower growth of 3.8 million in May compared to 3.6 million trips in April and 4 million trips in March.

Delhi, Uttar Pradesh, and Maharashtra remained the top three states in terms of Network orders. Uttar Pradesh saw order numbers nearly double, while Bihar reported 42% growth.

Incorporated on 31st December 2021, ONDC is a Section 8 company and an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India to revolutionize digital commerce and retail e-commerce in India. It has around 535,000 sellers across 1,200 cities. Around 84% of small sellers contribute about 56% of total orders aligning with ONDC’s goal of benefiting small businesses. Multiple major companies like Paytm, Ola, PhonePe and Shiprocket have joined the ONDC Network over the past 18 months.

 The government aims to increase India’s e-commerce penetration to 25% with ONDC Network, targeting a gross merchandise value of $48 billion in the next couple of years.

Latest News

Kitchenware brand The Indus Valley targets Rs 200 crore revenue by end of 2024

Having over 250 SKUs  already, the company is aiming to introduce over 1,000 SKUs in the coming yearsThe Indus...