Direct commerce grew to 15% of ecommerce market from 2-3% in 5 years, says Shiprocket CEO
Direct commerce as a channel for selling online in India has become 15% of the ecommerce market, Shiprocket cofounder and chief executive Saahil Goel said.
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He added that the share of direct commerce, which comprises sale of products online directly through the websites and apps of brands, was 2-3% of the entire ecommerce pie five years ago.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitIn a report on how micro, small and medium enterprises (MSMEs) sell online, Shiprocket, an ecommerce enablement firm, said that while sellers’ contribution in urban hubs was driving ecommerce activity, a majority of the orders – around 71% – originate from non-metro areas.
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In the first quarter of 2024, the report said, 27% of the total orders received by small and medium businesses (SMBs) on the Shiprocket platform were in the personal care category with an average order value (AOV) of Rs 407, followed by apparel and footwear at 20% with AOV of Rs 389.
ET reported on July 10 that Indian ecommerce sales grew 18-20% year-on-year (YoY) to about $53 billion in gross merchandise value (GMV) terms in the first six months of 2024 amid a gradual slowdown in overall sales
