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Newsletter July 2024 |
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| Hello Reader, |
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| Welcome to the latest edition of GH Pulse, your one-stop knowledge hub for the latest developments in the eRetail industry. |
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| India has recently overtaken Japan and Germany to become the fastest-growing economy in the world and is projected to be the third-largest economy by 2027. The overall eCommerce market is expected to reach $350 billion by 2030, while India's DTC (D2C) market is anticipated to hit $60 billion by FY27. Global cross-border eCommerce is also expected to grow, reaching $800 billion by 2025 and potentially $2 trillion by 2030. |
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| In alignment with these positive retail developments, the Indian Government's Union Budget 2024-25 has introduced several measures to support the growth of micro, small, and medium enterprises (MSMEs). Key provisions include reducing the TDS rate on eCommerce transactions from 1% to 0.1%, significantly improving liquidity for sellers. This reduction will provide eTailers with more working capital to reinvest in their business operations. |
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| The recent Global Amazon Prime Day sales saw $14.2 billion in sales within 48 hours, with total online sales rising 11% compared to 2023. In India, 24% more Prime members shopped during Prime Day, with a record-breaking 24,196 orders placed in a single minute. Over 70% of the demand for electronic products came from Tier 2 and 3 cities. Apparel brands saw a 5x increase in D2C selection, and the premium sports category experienced a 3x spike in demand. |
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| The future of India's retail and digital economy looks promising, with robust growth driven by digitalization and supportive government policies. As we approach the OND season, both consumers and businesses are gearing up for a period of significant activity and growth. Thus, this is the right time to introduce an integrated eComm tech stack to support your eRetail brand growth strategy and make the upcoming shopping days more fruitful. |
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| GH CLIENT TESTIMONIAL |
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| "We don't have the competence in-house to project manage some of the tech issues that come up in the process and having somebody who's advising us and guiding us into that process is very important.
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| Abhishek Bajpai - CEO, India |
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| CLient additions |
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| Industry Event |
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| GreenHonchos at the Klipit Partnership Event: Pioneering the Future of Retail in GCC |
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| GH INSIGHTS |
| Stay in the know on everything retail. |
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| SPOTLIGHT |
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| Creativity That Leads to Commerce, Powered by AI And Harnessed by Creative Minds at GH |
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| GH COMMERCE CLOUD
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| Product updates from KartmaX - GH Composable Commerce Tech Stack |
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| Featured Story |
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| #MakingCXSeamless: Customer-first Across Touchpoints |
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| People Power |
| We bring you a glimpse of GPL Season-3 in this video - a tribute to our fabulous People First team for organising the most engaging annual cricket tournament at GH.
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| A leading full-stack Digital Commerce Enabler helping growth-focused Retail Brands in their Digital Transformation journey right from creating high-converting websites powered by composable commerce technology to crafting brand-native digital content that leads to conversion and retention as well as enabling the omnichannel brand growth in the global eCommerce spectrum. |
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| Scale Your Business Online! |
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| Delhi | Mumbai | Bengaluru | Dubai |
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