E-commerce in India grew by 36 percent and 30 percent year-over-year (YOY) in terms of order volume and gross merchandise value (GMV), respectively, in the fourth quarter of 2020, said a report on Wednesday.
However, the average order value declined by 5 percent in Q4 2020 as compared to the same period last year, said the report by Unicommerce, e-commerce focused supply-chain software-as-a-service (SaaS) technology platform and global management consulting firm, Kearney.
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The report showed that personal care, beauty, and wellness as well as FMCG and Healthcare were the biggest beneficiaries and saw volumes grow by 95 percent and 46 percent YoY, respectively. Tier 2 and Tier 3 cities accounted for a 90 percent YoY incremental volume and value growth. Interestingly, brand websites reported 94 percent volume growth in Q4 2020 as compared to the same period last year.
“The e-commerce industry has emerged as the backbone of the retail industry and small and big players have realized the immense potential that e-commerce holds,” Kapil Makhija, CEO, Unicommerce, said in a statement. “The e-commerce volume growth continued to accelerate in the last quarter of the pandemic hit year.” The report showed that FMCG and pharma as a category reported growth of 92 percent on the brand website and 62 percent growth on the marketplaces. (IANS)