The wonder of consumers staying indoors due to the Coronavirus pandemic has been terrible news for most parts. But as far as it has been an alternate story by and large. In spite of the facilitating lockdown limitations, purchasers of huge numbers are working from home and are reluctant to wander outside.
Recently, there were reports that e-commerce platforms have recovered almost 90 percent of their pre-COVID request volumes. This makes e-commerce the quickest (sector) to recover among areas like offline retail, hospitality, restaurants, automobiles, land, among others. In another case, the normal exchange esteem has diminished by around 25 percent.
The lockdown and its quick effect on the supply chain had a disabled online business. While taking a deep dive into the sector to analyze the different developments. As indicated by a report of India Brand Equity Foundation (IBEF), a trust set up by the Ministry of Commerce, online retail will represent five percent (or $42.5 billion) of the $850 billion Indian retail markets before the year ending. Practically all the platforms attempted to placate the effect of COVID -19 with seasonal sales events.
Just about 90 percent of the merchants on Flipkart has started operations. This has prompted the reactivation of around 85 percent of the platform’s product index. It was just delivering ‘basics’ during the lockdown time frame.
Snap deal’s business volumes are back to pre-COVID levels. The recovery has been quicker in smaller towns regarding the order or request volumes. This is likely because of the limited accessibility of products in offline stores because of poor supply chain disturbances.
As per Unicommerce, a SaaS stage that works both with merchants and e-commerce platforms, classes like FMCG, staple, and personal care, which were prior comfortable with offline retail, have seen a huge spike in online development. Hardware and fashion (apparels), since March 2020, have been replaced by fundamentals (food supplies and personal care) as the most popular classes for retailers. Unicommerce oversees around 20 percent of the online business volume in India across platforms like Myntra, Nykaa, Flipkart, Amazon, among others.
The average cart size has diminished by around 25 percent for fashion and accessories. The well-known items in the class are nightwear and comfortable home wear. Brands working exclusively in kids’ wear have seen a maximum of 100 percent growth. The average cart size for electronic appliances has diminished by around 5-10 percent. The eyewear and beauty items portions have additionally given initials indications of recovery. The recovery rate for eyewear brands remains at around 70 percent, while it is more than 60 percent for cosmetic and beauty products.