Representative Image
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
30% Rise In Tech Firm's E-commerce Platforms Sales In Early Festive Season
E-commerce platforms during the first week of festive season are estimated to have registered 30% growth year-on-year, inventory and warehouse management tech firm EasyEcom said
Topics
Tech firms | ecommerce firms | Online festive sale
E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday.
EasyEcom said that e-commerce volume will grow more in Tier-2 and Tier-3 towns compared to Tier-1 cities, with non-metros driving nearly 80 per cent of the total e-commerce sales along with Tier-2 towns adding about 60 per cent to the figure.
"The first week of the festive sales across e-commerce platforms in India will exceed the gross merchandise value on non-sale days by five times, projecting a figure which will be around 1.3 times up from last year," EasyECom said.
The company said that its analysis is based on data captured by its software-as-a-service platform which focuses on omnichannel inventory & warehouse management and reconciliations.
The company has seen a 14 per cent growth in product lines on e-commerce platforms.
"The subdued performance of the first quarter due to global events has been compensated for by the second quarter, so the demand will shoot up uniformly. Stock levels, pricing, storage, fulfillment and serviceability need advance planning, and which is something no one can understand better than eCommerce operators whose revenue banks on the festive period," EasyEcom Founder and CEO Punit Gupta said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, October 05 2022. 20:19 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more