According to a report by Uni-commerce on Friday, the E-commerce industry saw a 56 percent growth in order volume and 50 percent rise in gross merchandise value (GMV) this festive season over a similar period last year
Unicommerce, e-commerce focused SaaS (software as a service) platform, analyzed shopping trends for the festive month of 2019 and 2020, and the analysis is 30 days prior to Diwali with a sample size of over 44 million orders. "This festive season, eCommerce industry reported about 56 percent growth in order volume as compared to the festive season last year (the festive season is one month prior to Diwali in 2019 and 2020). The increasing order volume also led to the 50 percent growth in GMV as compared to the last year's festive season," the report said.
It added that consumers have become more value-conscious than before and are now shopping across new categories. GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the marketplace over a certain period of time. The rise of new categories such as personal care and beauty products and higher sales of lower value products has led to a decline in average order value by 4 percent as compared to last year's festive season, the report said.
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