Newsletter October 2023
Hello Reader,
Welcome to the latest edition of GH Pulse, your gateway to learn about the dynamic landscape of Indian eCommerce. The economy is upholding the efforts to become the “Bird of Gold” again with the “click-and-order” digital realm setting new standards that soar higher with every successive festive season.
During October’s festive sales, India’s eCommerce juggernauts declared sales of Rs 29K Cr worth GMV logged in the first 4 days of festive sales and witnessed an absolute record of 9.1 - 9.5 customer visits in the first 48 hours, supporting the projection to reach Rs 90K Cr online GMV easily, up to 18-20% increase from the last year’s month sales.
Inevitably, the Indian luxury market is poised to become one of the globe’s fastest-growing, projected to reach an impressive $8.5 billion by 2023. This represents a substantial increase of $2.5 billion from its 2021 figures. The new trend is playing out well, fueled by aspirational demand and deeper e-commerce penetration and reaching including tier-2 and tier-3 markets.
With Gen Z influencing the consumer landscape, exclusivity has become a key perception. Now, it’s imperative for brands to cultivate a robust brand reputation and prioritize building a strong omnichannel presence for the consumers providing convenience who are willing to pay for premium products to stand out in the crowd.
Industry Events
Growth Pavement for Homegrown Businesses - GCC
Navin Joshua
Founder & Director, GreenHonchos
MRF 2023 - Food Service Icons Awards
K Ram Sudhirr
Director - Acquisition & Growth (GCC), GreenHonchos
CLient additions
Featured Story
Leading Digital Transformation Enabler GreenHonchos Announces Its Presence in GCC
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GH Insights
People Power
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