You have to be living in a cave if you haven’t experienced e-commerce already!
No, we aren’t really bluffing when we say this. With a business model that is growing steadily at 23% year-over-year
, aren’t e-commerce markets the place to be?
Further, to add on, 2020 has been a year like no other in recent history. The events of the coronavirus pandemic that marked its spread on a global scale, worked wonders in bringing us closer to e-commerce than we ever were.
The e-commerce industry was the backbone of humanity amidst the time of pandemic and uncertain lockdowns across different countries around the globe.
Considering the fact that e-commerce has been suited to the trend amidst the pandemic, let’s have a look at how the world’s largest democratic, India, which is also one of the hot spots for e-commerce giants, has kept up with its buying and selling during 2020.
Let’s get started!
The total “your order is placed successfully” notification so far:
Beginning its spree of three months, lockdown in the country was enforced in the last week of March. Being the innovators of ‘jugaad’(alternative way of solving or fixing a problem), Indian’s were prepared for the event, giving the e-commerce sites, a taste of dip with 2.40% on the overall orders placed (Yes, we should also consider the events of lockdown on courier facilities). However, this wasn’t it as the highest dip was about to come in April 2020, giving a 10% blow to the e-commerce industry.
While these were the lower points, the e-commerce industry has experienced a boom in orders placed after April, marking the highest for the year with July.
However, we are not done with the sales yet!
Wonder which particular segment was the king of sales amidst the entire pandemic drama?
Seems like we Indians love our gadgets really well, yes, it was the electronics!
With ‘unlock 1.0’ in action, we had our carts prepared for checking out, the e-commerce industry in India witnessed a growth of 162%
. However, this was just a mere aid to the losses as June faced a setback again!
Interestingly, September marked a change in the charts, making the highest number of orders placed in e-commerce platforms, marking a 43% spike in electronic sales.
How Indians sold in 2020!
2020 has been a year like no other (in both senses of the word). The extended lockdowns and social distancing helped our local kiranas (General Store) to share the platform beside some large enterprises, allowing businesses of all forms to adapt to hyper-local e-commerce.
Ecommerce has earned its rightful place as the most preferred shopping mode for us Indians. Thankfully, the markets have picked up with their pace, post the events of Unlock 1.0.
For any business, one of the best news that they can conclude the year with is the fact that consumers are no longer using digital platforms for their daily needs. Online platforms have earned their rightful place, making it the perfect time to depend on e-commerce business. Lastly, have also secured the 9th position
in global growth.