E-commerce continues robust growth trajectory in 2024 driven by smaller cities
Propelled by rising demand from smaller cities, India’s e-commerce sector continued its robust growth trajectory in 2024.
Propelled by rising demand from smaller cities, India’s e-commerce sector continued its robust growth trajectory in 2024.
The Delhi Police, on Wednesday, ordered e-commerce websites and social media platforms to cease the online sale of firecrackers in the National Capital Territory (NCT) Delhi.
The Q2 FY25 net profit declined from Rs 13.64 crore reported in the preceding June quarter, according to the company’s financials with the stock exchange.
In the festival season of October to December 2024, the Indian e-commerce is projected to reach $12 billion in gross merchandise value (GMV), marking a 23 per cent increase from last year when the GMV was $9.7 billion in the same period in 2023.
Online e-commerce platforms in the country saw sales worth over Rs 54,500 crore in the first week of the festive season, about 55 per cent of total sales projected during the next month.
India's e-logistics sector has become one of the largest and fastest growing logistics markets globally and is all set to reach the $9 billion industry, with a compound annual growth rate of 35 per cent, a report showed on Monday. The number of e-commerce logistics shipments is expected to grow by four times in the next five years.
Triggered by the growing use of digital wallets, the total cost of e-commerce fraud to merchants is likely to exceed $48 billion globally in 2023, from just over $41 billion in 2022, a report showed on Wednesday.
E-commerce major Amazon saw the single largest day of Prime sign-ups -- 1.9 times higher than last year with 68 per cent coming from tier 2 and 3 cities in India -- in the first 36 hours of its Great Indian Festival sale.
This is to ensure that the consumer is taking an informed and conscious decision based on the declaration of the product on the E-Commerce platform.
Mohit Bhatia, Co-founder of Malaki, said, "Company growth has been rapid, the pandemic opened new opportunities in D2C distribution and acted as a catalyst for many changes."
