The novel coronavirus outbreak and the resulting three-month-long lockdown in India has thrown e-commerce businesses out of gear, with many such firms forced to evolve ways to stay afloat, according to a survey by e-commerce platform Unicommerce, which found the e-commerce sector has recovered at a much faster pace in the country than anticipated.
Though e-commerce players plied on essential products for the past two months, it was in June that they became fully operational.The novel coronavirus outbreak and the resulting three-month-long lockdown in India has thrown e-commerce businesses out of gear, with many such firms forced to evolve ways to stay afloat, according to a survey by e-commerce platform Unicommerce, which found the e-commerce sector has recovered at a much faster pace in the country than anticipated.#
Unicommerce analysis shows the sector has recovered by over 90 per cent compared with its pre-lockdown order volume. The consistent growth indicates more and more customers are adopting online shopping.
According to Unicommerce’s consumer trend analysis, the e-commerce industry is predicted to fully recover and achieve the pre-lockdown order volume by the end of June.
The analysis notes that companies with a strong online presence and their own e-commerce websites have exhibited faster growth when compared to other brands. Companies with direct-to-consumer presence through their own websites have 25 per cent higher recovery as compared to other online selling brands.
However, the average cart size has decreased by around 5-10 per cent, as people ordered more low-value items required to operate from home, according to Indian media reports.
In terms of the online fashion sector there has been a 70 per cent recovery rate when compared to pre-lockdown levels. Although, the cart size has dropped by 25 per cent signifying that demand for high-value products has decreased as compared to affordable products.
ALCHEMPro News Desk (DS)
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