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Newsletter May 2023 |
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| Hello Reader, |
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| It's not just that summers are getting hotter! There is too much to catch up with what has moved in the world of eCommerce. The good news is that with the onset of the new season, there is a reason for consumers to shop for summer collections and ramp up their wardrobes. D2C brands with their personalised connection with the digital buyer are back at it again with their fabulous products & collections which are getting better every day making netizens loosen up their purse strings a bit more. |
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| For eCommerce, AI is certainly spearheading the online tech revolution towards scaling profitably. The AI integration is proving to be beneficial to the brands by recommending personalised products, optimised price segments, enhanced CX, smart logistics, sales & demand forecasting, and much more. |
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| In other exciting news, Indian eCommerce saw a 22% growth rate and $60 billion in GMV in FY 23. According to the report, ads monetization brought in $1.2 billion for Indian e-tailers in FY23, expanding at 37% year-on-year, with 210 million annual shoppers. The Government's e-tailing promotion measures, including the Digital India program, Unified Payment Interface (UPI), Government eMarketplace (GeM), and Open Network for Digital Commerce (ONDC), have greatly contributed to the sector's expansion. |
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| On the ending note, if there are some key takeaways from the recent win of Captain Dhoni’s team- CSK; it all points out to how staying true to the fundamentals of the game, being agile, leveraging the strength of your team, and empowering them can lead to continuous victories no matter the way macro and micro economic conditions may change in the future. |
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