STATE OF THE INDIAN ECOMMERCE
| 2023
InFocus : Omnichannel
OMNICHANNEL WORKS
INDIA’S OMNICHANNEL LANDSCAPE
FACTORS SUPPORTING OMNICHANNEL RISE
FINANCIAL ANALYSIS OF OMNICHANNEL STARTUPS
OMNICHANNEL CASE STUDIES
PERFORMANCE OF LISTED OMNICHANNEL PLAYERS INDAN ECOMMERCE LANDSCAPE THE FUNDED STARTUPS PYRAMID
OMNICHANNEL IN INDIA: SWOT ANALYSIS
OMNICHANNEL TRENDS IN INDIA
India’s Digital Economy In A Nutshell
India’s Ecommerce Market: Decoding The $400 Bn Market Opportunity
Global Ecommerce Ecosystem Comparison: India Vs China Vs USA
Total Funding (2014 - 2022)
5-Year Funding CAGR
Number Of Unicorns
Average Ticket Size In 2022
SOURCE: INC42
NOTE: ECOMMERCE FUNDING DATA FOR UNITED STATES & CHINA HAVE BEEN TAKEN FROM CRUNCHBASE. NUMBER
India’s Ecommerce Landscape: Key Players
Ecommerce Startups: The Funding Pyramid [2014 - 2022]
218 Growth Stage Startups
145 Bridge Stage Startups
SOURCE: INC42
494
Seed Stage Startups Total Number Of Funded Startups
Ecommerce Funding Trends In 2022: A Snapshot
$4 Bn Total Funding Raised, 63% YoY Decline
51% YoY Surge In Seed Funding
71% YOY Decline In Late Stage
310 Deal Count, 9% Surge In Deal Count YOY
277 Number Of Unique Funded Startups
Delhi-NCR Top Startup Hub
$16 Mn Average Ticket Size, 66% YOY Decline
SOURCE: INC42
Venture Catalyst, Sixth Ventures and Better Capital
Most Active Ecommerce Investors
Funding Winter Chops Ecommerce Funding By
More Than Half In 2022
Excluding 2021 as an outlier year, ecommerce funding saw 4X YoY growth compared to 2020, the highest so far
Indian Ecommerce Startup Ecosystem: A QoQ Comparison
Ecommerce Startups That Bagged Biggest Funding Rounds In 2022
SOURCE: INC42
Startup Name Subsector
SOURCE: INC42
Average Ticket Size For Ecommerce Funding Drops To $12 Mn In Q4 2022
From its highest value $88 Mn in Q3 2021, the average ticket size saw a fall of 90% in Q3 2022 to $8 Mn, reaching the Q2 2019 (pre-pandemic) level
D2C Replaces Marketplace To Be The Most Funded Ecommerce Subsector In 2022
Percentage of marketplace startups in total amount of ecommerce funding raised fall by 51.4% in 2022 YOY
Ecommerce In Q4 2022: Sub-sector Wise Venture Capital Inflow Split
D2C
Funding At Seed Stage Showed Highest YoY Surge For Ecommerce Startups In 2022
Compared to past year funding deals in 2022 for emerging hubs increased by 13%
SOURCE: INC42
Ecommerce In Q4 2022: Stage Wise Venture Capital Inflow
SOURCE: INC42
Ecommerce Funding Amount Across All Three Major Hubs Dropped By 32% In 2022 From 2021
SOURCE: INC42
Bengaluru Surpasses Delhi NCR In Ecommerce Funding In Q4 2022
Delhi-NCR remains top destination in terms of number of deals in ecommerce startups in Q4 2022
SOURCE: INC42
15 Early Stage Ecommerce Startups To Look Out For
Startup Name Sub Sector
SOURCE: INC42
Ecommerce Ecommerce Enablers
Investor
Brijesh Agarwal, Baskara Rao, Raghav Gupta,Ganesh Iyer
Calega,Yournest, Pranay Palepu, Ajay Nambiar Velluva Puthiyaveettil
Wami Capital, Multiply Ventures, Sattva Family Office, Grip
Accel, TI Platform, TiE SoCal Angels, Larry Braitma
3one4 Capital, IEG, Manisha Girotra, Surendra Kumar Jain
Stellaris Venture Partners, Varun Alagh, Sahil Barua, Anuj Srivastava
Fireside Ventures
Most Active Indian Ecommerce Investors
SOURCE: INC42
Mama Earth, Moglix, Wake fit
Citymall, fashinza, renomojo
VanityWagon, Buyofuel, WickedGud, ClearDekho, Evenflow, GOAT
Brand Labs, Let's Try, NOTO
Sugar , Country Delight, The Souled Store
Acefour Accessories, Dogsee Chew, Freecultr, GIVA, Just Dogs, Open Secret, Phool.co, ShopKirana
Urban Ladder, The Good Glam Group, KindLife
Country Delight, Open Secret, DealShare
Open Secret, Rage Coffee, ShopKirana
Cashify, Purplle, Spinny
The Sleep Company, Smytten, Mamaearth
Most Active Indian Ecommerce Investors In 2022
Notable Investments
VanityWagon, Buyofuel, WickedGud, ClearDekho, Evenflow, GOAT Brand Labs, Let's Try, NOTO
Acefour Accessories, Dogsee Chew, Freecultr, GIVA, Just Dogs, Open Secret, phool.co, ShopKirana
Beco, EekiFoods, GetSupp, HYPD, Kolo, Mekr, ShopKirana, Vendekin Technologies, Ximkart
DrinkPrime, Evenflow, GOAT Brand Labs, Join Ventures, MonRow Shoes and Accesories
82°E, Farmley, Join Ventures, KNYA Med, Power Gummies, Supertails, XYXX
ApnaKlub, Chaayos, Groyyo, Moglix
SOURCE: INC42
Bold Care, Eat Better, Evenflow, Nirmalya, Perfora Shoppr. TV, Woovly
Buyofuel, The Healthy Company, The Nestery, Vanity Wagon, White. Inc
DaMENSCH, GlobalFair, Mokobora, MyMuse, Supertails
Hoovu Fresh, HYPD, Mokobora, MyMuse, Perfora
Indian Ecommerce Startup Ecosystem: Key Developments In 2022
Fear of layoffs continues
In 2022, the Indian startups have together handed over pink slips to more than 20K employees. As the global ecommerce giant laid off 18K+ workforce globally with 1000 employees in India, the fear of recession is now creeping into ecommerce ecosystem as well.
Dwindling stocks of listed companies remain a concern
Govt took steps to protect consumers from fake reviews
Both Nykaa and CarTrade’s public market performance has fallen significantly in 2022. Also, most ecommerce unicorns and soonicorns are struggling to reach profitability, and many shelved their IPO plans last year. In 2022, only three Indian startups went ahead with their IPOs — Delhivery, Tracxn, and DroneAcharya. However, eight startups, including Droom, Snapdeal, PharmEasy, MobiKwik, and OYO, which filed their draft red herring prospectus (DRHP) in 2021 and had the best chance to go going public in 2022, either shelved their IPO plans or withdrew DRHP or are yet to receive the approval from the Securities and Exchange Board of India (SEBI).
The Department of Consumer Affairs launched a set of regulations in November 2022 for protecting online shoppers from the menace of fake reviews and deceptive product feedback on ecommerce platforms. The standard will initially be voluntary for compliance, but when made mandatory, any violation can invite punishment for unfair trade practice or violation of consumer rights.
Launch of ONDC is expected to be a game changer
In April 2022, the Open Network For Digital Commerce (ONDC) started its pilot in selected cities. With the launch of this open initiative, the government aims to democratise ecommerce from the dominance of marketplaces and enable fair opportunities for sellers, buyers and logistics providers, leading to dynamic pricing and optimum inventory management. ONDC is currently live in 85 Indian cities. More than 250 Mn buyers will be able to purchase goods and services via this network in the next five years, according to a recently published report by Publicis Groupe India and the Digital India Foundation
Draft Ecommerce Policy under discussion
SOURCE: INC42
First issued by the Department for Promotion of Industry and Internal Trade (DPIIT) in February 2019, the draft guidelines are again under deliberation. However, the government will soon launch the Draft in the public domain. The overall objective of this policy is to help stakeholders benefit from the opportunities arising from the progressive digitalisation of the domestic digital economy. Its scope and objectives have been defined under six heads, including data, infrastructure development, ecommerce marketplaces, regulatory issues, stimulating the domestic digital economy and export promotion through ecommerce. It aims to regulate cross-border data flow while enabling sharing of anonymised community data.
IN FOCUS THE RISE OF OMNICHANNEL
Indian Phygital Market Will Be A $1 Tn Market Opportunity In 2030
Omnichannel or hybrid shopping will be at the center of this growth which is projected to reach $55 Bn by 2027 from the current $11 Bn
SOURCE: IBEF, LENSKART
Because The Consumer Wants It All..
Shopping can no longer be divided into online or offline. Many consumers now prefer “all of the above approach” and are using a mix of both channels to create custom experiences
KEY CHANNELS IN CONSUMER’S SHOPPING JOURNEY
SOURCE: INC42,
CONSUMER REVIEWS
PROFESSIONAL REVIEWS
Omnichannel Is Not A Choice Anymore Because Consumers....
Use more comparison sites in look for availability
SOURCE: PWC
Switch to buying product online
Shop at multiple different retailers to meet your needs
Switch to buying products in-store
Change the retail store/outlet you usually shop in (in order to get the product you want)
Cross Channel Buying Behaviour Of Consumers
SOURCE:YOUGOV-OMNICHANNEL REPORT 2021
Consumer Behaviour Pushing Ecommerce Retailers Towards Omnichannel
64% of consumers continue to spend online even after Covid-19.
74% of online shoppers want to focus more on working from home, and this shift in mindset encourages them to opt for ecommerce.
India is among the top 5 countries where 85% of consumers now feel more comfortable with technology usage.
Globally, India has the highest percentage (47%) of digital items purchased online.
Globally, India ranks third in terms of most demanding online customers, and 72% will not buy from retailers, brands or marketplaces that do not match their e-shopping expectations.
46% of online shoppers expect their orders to arrive in less than 2 hours.
88% of Indian consumers want inspiration to purchase items as quickly as possible, pushing ecommerce retailers to have an omnichannel strategy
50% of online shoppers have made their purchases on social media platforms, indicating an affinity towards exploring new channels.
SOURCE: WUNDERMAN THOMPSON FUTURE SHOPPERS REPORT 2022
Key Factors Driving Omnichannel Ecommerce Growth In India
India’s consumption expenditure to double by 2030: India is likely to overtake Japan as Asia’s second-largest economy by 2030 when its GDP is projected to surpass that of Germany to rank as the world’s No. 3. Other positive factors include the rise in disposable incomes and the newfound rural consumption, helping drive consumer spending across Bharat. The country’s consumption expenditure is expected to double from $1.5 Tn in 2020 to $3 Tn by 2030, and ecommerce as a sector will be a significant beneficiary.
More maturity in the retail ecosystem: According to market experts, 2022 was a banner year for omnichannel retail as the entire ecosystem of shopping, payments and logistics reached greater maturity levels. Meanwhile, the popularity of direct-to-consumer (D2C) brands, the rise of quick commerce, brands’ deeper reach in non-metro locations and further consolidation of retail and consumer packaged goods (CPG) sectors were the defining trends of the year.
Convergence of online and offline across sectors: The first wave of omnichannel was primarily around the fashion and lifestyle sector. But the emergence of dark stores, retail tech and multiple delivery models has seen other segments like food delivery and e-grocery opt for omnichannel.
Brands working on trust building: Touch-and-feel still rules an Indian consumer’s mindset during a purchase. So, D2C players and marketplaces such as Nykaa, Mamaearth, Sugar Cosmetics among others now leverage the hybrid approach to build customer trust.
Large legacy retailers adopting omnichannel engagement for growth: Legacy brands like Reliance, Tata, Pepsico, among others have made their move towards increasing their digital presence across channels in last few years. This has led to omnichannel emerging as a key differentiator, thereby pushing ecommerrce unicorns, flushed with VC money to experiment with omnichannel and optimise it as a key revenue channel as well.
SOURCE: INC42, EY, IHS
The Omnichannel Experience Combines All Channels into One
Seamless
ECOMMERCE
SOURCE:
Key Benefits Of Omnichannel For Retailers
Ecommerce Brands With Omnichannel Presence: A Landscape
SOURCE: INC42
NOTE:
Key Indian Beauty, Cosmetics & Wellness Brands With Omnichannel Presence
Financial Analysis Of Indian Omnichannel Beauty, Cosmetics & Wellness Brands
Key Indian Fashion Brands With Omnichannel Presence
Online Presence
Website, iOS, Android
Website, iOS, Android
Website
Website, iOS, Android
Website, iOS, Android
Website, iOS, Android
Website, iOS, Android
Website, iOS, Android
Financial Analysis Of Indian Omnichannel Fashion Brands
Key Indian Beverage Brands With Omnichannel Presence
Online Presence
Website, iOS, Android
Website
Website, iOS, Android
Website, iOS, Android
SOURCE: INC42
Website
Website, iOS, Android
Financial Analysis Of Indian Omnichannel Beverage Brands
Key Indian Home Decor Brands With Omnichannel Presence
SOURCE: INC42 NOTE:
Financial Analysis Of Indian Omnichannel Home Decor Brands
SOURCE: COMPANY FILINGS, INC42 CALCULATIONS
OMNICHANNEL CASE STUDIES
CASE STUDY
THE PROBLEM
When Lenskart started selling eyewear online, product returns went up by 3-4x in spite of many benefits like at-home access to a vast catalogue allowing enough time to select a product and a hassle-free buying process.
HOW OMNICHANNEL CAME INTO PLAY
The startup created an omnichannel presence so customers can buy online and pick up their purchases from designated stores. An expert is available at each store to custom-fit the eyewear to ensure maximum effectiveness and comfort
THE OMNICHANNEL IMPACT
With the launch of the omnichannel model, consumer satisfaction went up as prospects could browse a variety of products online and access the services of eyecare experts offline, similar to the offerings of brick-and-mortar outlets
SOURCE: INC42, LENSKART
CASE STUDY
THE PROBLEM
Furniture can be functional, stylish or decorative, but given the utility and cost of each piece, most are handmade by expert carpenters or purchased from trusted offline stores. Interestingly, in non-metros, a piece of furniture is often expected to last for generations. So, it is made under the watchful eyes of shoppers looking for quality and affordability. Pepperfry needed to break down the silos and combine the ease and convenience of online with the quality and reliability of an offline purchase.
HOW OMNICHANNEL CAME INTO PLAY
Pepperfry decided to launch Pepperfry Studios for a differentiated customer experience. Here people can explore an infinite catalogue just like they do online, get expert advice on custom requirements and get a fair idea of the materials and specifications, look and feel of the furniture piece before ordering offline/online.
THE OMNICHANNEL IMPACT
Going omnichannel has allowed Pepperfry to expand its reach in metros and further create a strong foothold in Tier 2 and 3 cities. Currently, 40% of its sales come from offline stores, but the average value is 2.2x the online business. Also, repeat purchases are 1.8x more compared to online sales. On the other hand, the online platform helps with quick product discovery, visualising end products in one's own space, lead generation and deal closing. The online-offline mix has created an end-to-end, customer-first strategy for optimal business outcomes.
SOURCE:INC42, PEPPERFRY, LIVEMENT
CASE STUDY
THE PROBLEM
FirstCry kicked off with an inventory-heavy, pure-play ecommerce model, as did a handful of companies in 2010 (zero-inventory marketplaces were not widely popular at the time). But soon, it adopted a contrarian approach, moving from online to offline despite the immense hype around ecommerce. Online shopping was convenient, but the nature of FirstCry products required the involvement of the entire family as they shopped for the baby/kid. This could only be achieved offline. Moreover, its offline business could grow faster beyond metros, where people were not too familiar with ecommerce more than a decade ago.
HOW OMNICHANNEL CAME INTO PLAY
FirstCry started its offline outlets in metro and non-metro cities and expanded the hybrid model through franchisees. But it's holistic goal was to sync online data with marketing strategies and offline experiences. For instance, a physical shop can track people's online preferences to serve them better, while shoppers can do inventory search, price comparison and check products in real time for quality and fit. This helped create the trust of new parents who earlier hesitated to purchase baby products online.
THE OMNICHANNEL IMPACT
The omnichannel strategy helped FirstCry cement its presence in Tier 1 and 2 cities, resulting in 400+ offline stores. About 40% of its sales come from brick-and-mortar businesses, amply enhanced by its online features.
SOURCE: INC42, FIRSTCRY,ENTREPRENEUR, FINANCIAL EXPRESS
CASE STUDY
THE PROBLEM
Like fashion and accessories, the beauty business thrives on the try-before-you-buy rituals, and offline retail is a surefire way to achieve this. Aware of the consumer mindset and their widespread practice of buying cosmetics offline, digital-first beauty brand Nykaa thought it fit to introduce an omnichannel model to help shoppers make up their minds before buying.
HOW OMNICHANNEL CAME INTO PLAY
Nykaa’s offline outlets were established so customers could test products and purchase in-shop or buy it later online.
THE OMNICHANNEL IMPACT
By going omnichannel, Nykaa can provide better service as the brand is now available at every touch point. As a result, brand awareness has increased, new consumer bases have been created and Nykaa can ensure efficient inventory management.
SOURCE: INC42, NYKAA
Omnichannel In India: SWOT Analysis
Omnichannel In India: Trends To Watch Out In 2023
Omnichannel experience to expand beyond online-offline
Checking a product online and buying it offline or vice-versa will give way to new distribution models. For instance, customers can buy things online and pick them up from a nearby brick-and-mortar store or buy them in-store but get them delivered to their chosen locations. Similarly, one can return a product online before a physical delivery or at a store after delivery instead of waiting for reverse logistics. In brief, the formats will vary in sync with customer convenience, and retailers must expand their services across online and offline channels.
Social media will remain a powerful channel
Platforms like Facebook, Instagram and YouTube are now popular among online shoppers. Therefore, a powerful social media presence will enhance a brand’s image and help build trust for new customers. According to Google’s research insight blog, Think with Google, half of the shoppers watch videos to help them decide what to buy, and 55% report watching videos in-store to remind themselves what they want to purchase.
Personalisation will be the key to success
Experts believe that personalisation will be the determining factor for success in omnichannel retail. According to the global marketing company Epsilon, 80% of customers report they are more likely to buy when offered a personalised experience, like discounts related to recent browsing. Making customers feel valuable should be an essential trait of retailers, especially when they handle multichannel shoppers.
Supply chain management will be crucial
Brands must be able to deal with issues like delayed product delivery and inadequate inventories featuring out-of-stock products. Good supply chain management (SCM) and cutting-edge tech solutions for inventory reconciliation are critical for omnichannel retailers.
24x7 customer support will be essential
Omnichannel commerce demands 24x7 customer support for the best possible outcomes. While human assistance is required for complex issues, brands must look at virtual assistants/chatbots for initial customer engagement across geographies and time zones.
SOURCE: INC42
SAAHIL GOEL
Cofounder and CEO
Shiprocket
How D2C Brands Can Optimise Omnichannel Expansion
India is striving towards a $400 Bn ecommerce opportunity by 2030, and our not-so-new buzzword –omnichannel expansion – is resurfacing. Blurring boundaries across channels became a way of business during the pandemic, but an omnichannel strategy has become a necessity now more than ever. From facilitating a seamless consumer experience to driving reach to every nook and corner of the country, the omnichannel approach is the way to go.
Business Growth Through Customer Data Insights
Omnichannel expansion facilitates the elimination of all intermediaries and establishes a single platform for D2C brands to connect and sell. Imagine accessing the entire data, from production to distribution, on this single platform.
D2C brands with omnichannel automation can leverage these insights to monitor their sales and marketing strategies. Further, the insights into consumer behaviour become the basis of strategies for driving repeat purchases. The power of customer data is unparalleled but still untapped by many D2C brands. Once unleashed, D2C brands can provide the best traditional and online shopping experiences right from a single platform.
Consumer Centricity Lies At The Core
A D2C brand functions on the idea of directly selling to a consumer. And an omnichannel strategy enables the brand to connect, engage and sell to a consumer directly. In this way, the brand facilitates a consumer-centric purchasing process. The idea is not to focus just on one channel but to be present across multiple touchpoints, everywhere the consumers are.
Every consumer across these touchpoints has unique preferences. So, D2C brands can tap into reaching these consumers innovatively. The most reliable strategy to make this possible is understanding consumer preferences and building brand offerings that drive consumer value.
Building An Impactful Shopping Experience
Today D2C brands are offering hyper-personalised experiences tailored through convenience. The idea is to enable consumers to control their shopping experiences themselves. Therefore, brands are building these enriching experiences based on the insights derived from a consumer’s decision-making process.
Omnichannel automation has facilitated an intelligent integration of technology even in offline stores. These integrated technologies help brands deliver a highly personalised and interactive shopping experience for all their consumers across channels. Technology automation is smoothly interwoven throughout the consumer’s journey, from researching and reviewing the product to clicking the purchase button. These integrations further help in building higher brand recall.
Capturing Bharatwide Retail Expansion
In today’s digital-first world, when D2C brands are hopping on the metaverse bandwagon, online brands are also exploring the traditional brick-and-mortar routes. The reason is simple: Enhancing brand visibility. An offline store adds to the digital store’s credibility, thus building consumer trust.
According to Statista, India has 190 Mn online shoppers, but the need for retail shelves will always be persistent. Bharat, namely, the Tier 2 cities and beyond, have a knack for exploring new brands, and omnichannel expansion is the only bet to drive that accessibility. While offline expansion is important to establish trust and loyalty among consumers for D2C brands, it is equally important to grow aggressively across the real Bharat through the right touchpoints, taking value-driven offerings to a large consumer base.
Omnichannel expansion is also helping D2C brands drive revenue growth and strong brand awareness. It is simple to achieve, as customers are targeted across channels with an active and personalised approach. So, to ensure that a consumer’s journey from ‘Add to Cart’ to ‘Proceed to Checkout’ is enriching, omnichannel is the way to go.
Price Of Ecommerce Startup Stocks See Massive Setback
SOURCE: NSE, INC42 CALCULATIONS NOTE: THE
Two Ecommerce player — Nykaa and Cartrade have eroded 66.11% and 67.36% market capitalisation respectively since there IPO.
Despite Fallout, Indiamart, Dmart Stock Price Continues To Be Above Listing Price
SOURCE: NSE, INC42 CALCULATIONS
How
Ecommerce Companies Are Performing On The Stock Market Since IPO
SOURCE: NSE, INC42 CALCULATIONS
NOTE: THE LATEST STOCK MARKET DATA USED IN THIS SLIDE IS AS ON 31 JAN 2023.
Ecommerce In India: Key Challenges To Expect In 2023
OMNICHANNEL ADOPTION
Selling a brand on multiple platforms is challenging. If not done right, it can quickly tarnish a brand’s image and lead to losses. Although omnichannel will be the key theme for ecommerce startups in 2023, efforts must be taken to identify the data quality metrics for monitoring and evaluating all distribution channels.
SHIFT IN CUSTOMER SENTIMENT
Shoppers today have many options to choose from, and social media allows them to review products and discuss brands without much restraint. In reality, brands will no longer find perfect customers who are perpetually satisfied with their products and services. As onboarding new users will become more costly and challenging, we expect retailers to focus more on retaining customers and creating a smooth experience for them across shopping channels.
RIGHTSIZING THE WORKFORCE
In 2022, the Indian startup ecosystem saw more than 20K layoffs due to geopolitical uncertainties, a slowing economy and a harsh funding winter. However, the ecommerce sector did not see too many pink slips apart from Amazon laying off 1K of its India staff. But 2023 has been touted as the year of recession, and most ecommerce companies are struggling on the revenue front. This may impact their expenditure and workforce commitments in the future.
TACKLING ECOMMERCE FRAUDS
Frauds across orders and returns is common in ecommerce. However, in the last two years, the volume of ecommerce orders have gone considerably high (37% in 2022). This has made ecommerce startups to focus more on strengthening the transparency across the supply chain and invest more in technology to avoid mishaps.
SOURCE: INC42
Ecommerce In India: Trends To Watch Out For In 2023
PHYGITAL WILL BE IN FOCUS
Tech-infused physical stores with digital inventories will level the playing field for offline retailers and enable them to compete with large online platforms and sellers. This becomes even more crucial as customers expect a similar product range available at better prices from offline retailers as offered by ecommerce platforms.
LAST-MILE DELIVERY WILL BE CRITICAL
Last-mile delivery is perhaps the most critical part of the order-fullfillment cycle and can make or break the customer experience. With ONDC in play in 2022 and expanding in 2023, we will see more ecommerce focused logistics companies emerging in this segment.
ONLINE SHOPPING TO GO DEEPER
he ecommerce user base in India is estimated to grow at 23% CAGR to reach 500 Mn by 2030. Both ecommerce brands and marketplaces want to tap into this growing user base in metros and non-metro locations.
VERNACULAR, VIDEO CONTENT AND VOICE SEARCH TO DRIVE THE MARKET
While ecommerce companies have already latched on to voice shopping, localisation through vernacular languages to reach out to a vast, non-English-speaking consumer base is in the works. More and more brands will jump on the bandwagon as they seek to grow across Bharat.
QUICK COMMERCE TO THRIVE
The trend which picked up its pace during Covid-19 will continue to entice users and investors alike. Instant deliveries or quick commerce has created a new wave of startups, driven M&As and gained investments in the past two years. In 2023, more and more D2C brands will make a play to tailor their distribution to fit quick commerce operations, just as FMCG giants have pivoted to cater to this channel in 2022.
SOURCE: INC42
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