Indian e-commerce is exciting, growing, extremely layered, and quite frankly - A battleground!
According to estimates, Indian e-commerce will reach US$112 Billion in GMV by FY25, growing at a 29% CAGR over FY20-25E, with grocery and fashion/apparel likely to be the key drivers of incremental growth. Overall in the eCommerce space fashion & lifestyle is the largest contributor to overall eCommerce sales volume. As per Vumonic Datalabs estimates fashion & lifestyle contributes more than 20% of overall volume.
There are many drivers of online fashion & lifestyle shopping. The main one is the availability of the latest trends at affordable prices. India is a value-seeking market and online fashion & lifestyle hits the nail on this mindset. Marketplaces like Amazon, Flipkart, and Myntra run fashion-specific sales and campaigns all through the year.
We analyzed nearly 200K fashion & lifestyle items sold on these platforms from the period of Jan to June 2022 and it is clear that Ajio and Myntra have found favor within the Men's Fashion Category; while Amazon and Flipkart remain relevant. There is a new kid on the block – Meesho that has garnered double-digit order share. This is interesting as all the platforms are seeking business from youth however Amazon has been able to even make inroads with the middle age group. This could be a reason it generates high transaction volume overall.
Consumer behavior data is crucial to know and should get baked into the strategy for efficient execution. This can be done effectively by using Vumonic’s behavioral data for eCommerce for many different categories.
In our next piece, we will explore the Women Fashion Category for key Platforms.
Vumonic Datalabs is a global consumer intelligence platform. We provide high-quality, deterministically linked, large structured data that can be used to derive deep consumer, business, and market insights. Our proprietary data pipelines deliver unbiased actual transaction data collected in privacy and secure manner via large global panels.