REDSEER REPORT
Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
The tech mahadasha: Stars align for India's online astrology market
Astrology, once a traditional practice, has transformed into a booming online business. With astrologers now accessible online, the industry is experiencing rapid growth. The pandemic further accelerated this trend, leading to a surge in consultations and subscriptions. The online astrology market in India is projected to grow significantly, driven by tech advancements and changing consumer behavior.
Colorbar looks to go public in three years
Speaking to ET, managing director Samir K Modi said Colorbar will touch Rs 1,000-crore revenue next fiscal and expand in international markets. The company currently owns and operates Colorbar, 24Seven, and Modicare brands.
About 90% of Indian retail market will remain offline: Accel’s Prashanth Prakash
D2C brands, primarily online-first, consider expanding to offline stores as Indian retail market grows to $2.2 trillion by 2030. Reports highlight the rise of omnichannel firms like Nykaa, Lenskart, and the shift towards omnichannel purchases.
Audio series user base in India projected to reach 540 million by 2027: Redseer report
The audio series user base in India is projected to reach 540 million by 2027. The growth is driven by the democratization of creator visibility and selection process, compelling storytelling, immersive user experience, and high user engagement. Monetization opportunities through advertising and subscriptions are significant, contributing to higher revenue.
Food-delivery firms saw orders spike to 6.5 million on New Year’s Eve: Redseer report
Food-delivery platforms saw a surge in orders on New Year's Eve 2023, with 6.5 million orders placed, an 18% rise from the previous year. According to market research firm Redseer, the gross merchandise value (GMV) was significantly higher, reaching 2.5-3x the daily average at night.
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Food delivery platforms see 18 per cent jump in orders to 6.5-mn on New Year's Eve 2023: Report
6.5 million orders, marking an 18% year-on-year growth, according to a report by Redseer. The surge was observed across metros, tier-1 cities, and other Indian cities, indicating a nationwide trend. The peak in orders occurred during dinners and late-night orders, with the gross merchant value reaching 2.5-3 times that of other days.
Clicking towards record: India's festival season spurs online shopping spree
Amazon India has made its "best-ever start" to the peak period in the shopping calendar, according to country manager Manish Tiwary, reporting a record 95 million customer visits in the first two days of its 'Great Indian Festival 2023' campaign.
Clicking towards record: India's festival season spurs online shopping spree
E-commerce companies in India, such as Amazon and Flipkart, are expecting a record-breaking festival season with virtual shoppers predicted to spend a record $11 billion, nearly 20% more than last year. Both retailers have hired temporary workers and added new sellers to meet the rush. Market research shows that over 80% of urban consumers are expected to shop online during this festival season
Domestic D2C market to reach gross merchandise value of USD 35 billion by 2027: Redseer
Among the 3PL players, Delhivery, followed by Bluedart, stands out as the preferred partner by brands looking for superior tech, and quick and reliable delivery across a larger set of pin codes, the report noted. Further players like Shadowfax and Xpressbees are used by brands where low-cost shipping is a primary criterion, with Shadowfax's reach being more metro-focused.
E-commerce to grow to $300 bn by 2030, shipments by third-party logistics firms to 17 billion: Redseer report
The Indian e-commerce industry is predicted to grow five-fold to $300 billion by 2030, with third-party logistics providers expected to handle 17 billion shipments in the next seven years, according to a report by Redseer. As the third-party logistics sector expands, the cost per shipment is projected to decrease by 23% from Rs 60 in 2023 to Rs 47 by 2030. Meesho was identified as the largest contributor to e-commerce 3PL shipments in India, followed by Flipkart, Ajio, and Amazon. The report also highlighted the importance of 3PL in enabling market entry, driving growth, and optimizing logistics investments.
After bumpy 3 quarters of 2023, online sellers see 15 pc rise in festive sales
Sellers expect a minimum 15 per cent online sales growth compared to last year's festive event, with the median growth figure of 26 per cent sales increase expected. E-Commerce platforms are tailoring solutions to meet the optimism of sellers and as a consequence of which, seller perceptions around support provided by eTailing platforms have seen an uptick.
With eye on Bharat, Snapdeal says it’s close to profitability
With e-commerce expected to grow significantly going ahead, Snapdeal ensures to focus on budget-conscious shoppers who seek both value and quality in their purchases.
Festive season may see sales growth of 18-20% to $11 billion: report
This is higher than the gross merchandise value (GMV) growth seen by ecommerce marketplaces during the first half of the year but less than last year’s festive season sales.
More and more individuals are looking at upskilling opportunity: report
A report by Omidyar Network India suggests that upskilling opportunities could add over 100 million people to the Indian workforce, boosting GDP and propelling the economy towards $4 trillion. The report highlights the need for granular skilling solutions to cater to different groups, such as skilled aspirers, tenacious strivers, and home-based entrepreneurs.
Keune to be Rs 500-crore brand in three years; to set up academies in India: Arpit Jain
Dutch hair cosmetics company Keune has partnered with B2B distribution and marketing company Maison D' Auraine to enter the rapidly growing Indian beauty market. Keune aims to achieve Rs 500 crore in sales within three years. Keune, which makes a range of colour treatment products, shampoos and conditioners, is salon-focused and does not retail at conventional stores.
View: Consumers building the e-commerce odyssey
A recent report by Redseer Consulting estimated that India’s ecommerce market is expected to reach $163 billion by 2026 and online sales will account for over 25% of the sales across major retail categories barring grocery, by 2026.
Alternate financing to capitalise on $500B SME credit opportunity in India: Redseer-GetVantage Report
The current share of alternate finance is ~5%. Redseer estimates it to double and reach ~11% in the next five years.
Alternate financing to capitalize on the $500 billion SME credit opportunity in India, says new report
A report by GetVantage and Redseer Strategy Consultants highlights a potential credit deficit of $220 billion, hindering the growth of digitized businesses in India. The report estimates that only $165 billion is serviceable, leaving a working capital deficit of $112 billion. With the number of digital SMEs expected to double in the next five years, the demand for credit is projected to exceed $570 billion. Small businesses struggle to raise capital due to poor business metrics and limited assets.
Uptick in discretionary spend propped up retail commerce in April-June quarter: Redseer
Traction for offline retail also increased on the back of higher rural demand, particularly for fast moving consumer goods (FMCG), the Redseer report noted.
Startup funding winter could extend 6 to 12 months despite positive indications: Redseer survey
Nearly 50% of investors in the survey, conducted in June 2023, were optimistic about a resurgence in funding within the next six to 12 months.
40 Indian startups slated to go public or be IPO-ready by FY25: Redseer
A report from consulting firm Redseer estimated that by FY28, there will be a significant increase in the number of companies that are either listed or ready for an IPO, with a strong emphasis on profitability.
India’s middle-income consumers may drive nearly half of ecommerce growth by 2030: report
The mass section, the report said, would contribute to almost $135 billion (45%) in gross merchandise value (GMV) for ecommerce by 2030.
'Mass' consumers with income between Rs 2.5-10 lakh to be growth engine for eCommerce market: Report
The retail boom in India will be driven mainly by those who are earning between Rs 2.5-10 lakh annually and presents a $1.3 trillion opportunity by 2030, a new report has stated. This segment of 'mass' consumers is projected to drive ~US$ 1.3 trillion in the overall Indian retail market and nearly 45% of the $300 billion eCommerce opportunity in India by 2030.
Fantasy sports platforms clock Rs 2,800 crore in gross revenue during IPL: Redseer
According to Redseer's analysis, Fantasy sports gross gaming revenue grew by 24 per cent from Rs 2,250 crore in IPL 2022, and the market has grown at a compounded annual growth rate (CAGR) of 30 per cent since IPL season 2019. "IPL 2023 witnessed revenue of Rs 2,800 crore with about 61 million users participating on Fantasy Gaming Platforms," the report said.
Indian e-tailing market reached $60 billion in GMV in FY23: Report
Direct-to-consumer brand growth has also spurred traditional players to take the digital route offering a competitive shopping experience and encouraging consumers to shop online.
Indian e-grocery market to grow beyond tier-2 cities in 2023: RedSeer report
The significant growth in the Indian e-grocery market between 2019 and 2022 can be attributed to the adoption of quick commerce in cities.
EV 2-wheeler sales in India to reach 22 million by 2030: Report
As the electric vehicle (EV) adoption grows in India, the electric two-wheeler sales volume in the country is likely to reach 22 million by 2030, a report showed on Wednesday.
Electric two-wheeler sales to reach 22 million by 2030: Report
A predominantly two-wheeler market, India's overall EV penetration, including two-wheeler stood at around 3 per cent of the total automobile sales in 2022 calendar year.
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