D2C festive sales could see a 40 percent increase- Gokwik Report
ecommerce enabler, forecasts a 40% surge in online sales for the upcoming festive period, led by a resilient Indian economy, growth of aspirational GenZs, and rise of D2C brands.
According to data from GoKwik's network, which includes over 4000 direct-to-consumer (D2C) brands, there has been a 38% increase in Gross Merchandise Value (GMV) and a 49% rise in orders in July compared to June of this year. This early spike suggests that the festive shopping season has begun earlier than usual and is being driven by online shopping.
This year, with more shoppers adopting a direct-to-consumer (D2C) approach, an increasing number of Gen Z individuals entering the workforce with disposable income, and a growing emphasis on aspirational purchasing of premium products, GoKwik anticipates a 40% increase in orders during the festive season.
“As we enter the festive season, we are witnessing an early surge in consumer activity, which is a promising sign for the industry,” said Chirag Taneja, co-founder and CEO of GoKwik. “The shift towards D2C brands is becoming more pronounced, with consumers valuing the direct connection, personalised experiences, and unique offerings these brands provide. We are committed to supporting this growth by ensuring that brands can meet the increasing demand while minimising challenges like RTO.”
Last year, brands on the GoKwik network experienced a 34% uplift in GMV and a 38% increase in orders. The brands continued to showcase a boost in order volume even as major marketplaces were running
