How e-tailing is booming in this festive season?
E-tailers on track to record their biggest quarter ever in Q3 CY17- which should push industry size to USD 17 plus Bn for CY17 as a wholeBY Indian Retailer Bureau | Oct 04, 2017 | comments ( 0 ) |
Driven by a very strong e-tailing festive sales in Sep’17, with USD 1.5 Bn of sales generated over 5 days, e-tailers are likely to see 45% y-o-y growth in Q3 CY17. Which should put industry on track to grow 20% y-o-y for the whole of CY17- a marked improved from the slowdown recorded in CY16.
Indian market is on track to reach USD 1 Bn in sales in CY17- driven by strong growth in transactions and steady AOV increase. After a challenging 2016 year, 2017 is on track to be a robust year for E-FMCG/Grocery market with 60% y-o-y growth likely. Sales have been driven largely by volume growth- which points to growing acceptance and penetration of online grocery amongst consumers. Additionally, AOV growth has also been significant, driven by increased share of cosmetics and other premium products in shopping basket.
Autorickshaw category has grown to become a crucial part of online commute booking market. While the online autorickshaw market has historically operated in stops and starts, the crippling driver strikes at the beginning of 2017 provided the right tipping point for this nascent category to evolve. Further enabled by lucrative offers (e.g. INR 29 fare for < 4km travel distance), this category has grown 3.5x in the last one year.
Despite regulatory hurdles, the ePharmacy market has been growing rapidly for the last four years. The ePharmacy market in India is thriving with players aggressively expanding and innovating to drive mass adoption of these services. However, industry needs to solve its unique challenges e.g. the high cases of order loss by platforms due to prescription errors (>12%) to attain the next level of growth.
Compared to other global tourist hubs, Metros in India have a much lower online % of budget hotel bookings - indicating the high growth potential
In spite of the rapid recent growth, the online hotels market in India continues to remain underpenetrated compared to other leading tourist capitals in Asia/Europe. This indicates the still strong potential for online hotel platforms to digitize both supply and demand so that unorganized hotels in India can fully unlock the value of their inventory.
(The above mentioned report has been extracted from a reserach conducted by RedSeer consulting)
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