GoKwik, an e-commerce enabler, projects a 40% increase in online sales for the upcoming festive period attributed to a robust Indian economy, the rise of aspirational Gen Z consumers, and the growing prominence of direct-to-consumer (D2C) brands. Data from GoKwik’s network, which encompasses over 4,000 D2C brands, indicates a 38% rise in Gross Merchandise Value (GMV) and a 49% increase in orders in July compared to June 2024, suggesting an earlier-than-usual start to the festive shopping season. Co-founder and CEO of GoKwik, Mr. Chirag Taneja, highlighted the shift towards D2C brands, noting that consumers increasingly value direct engagement and personalized experiences. He added that GoKwik is committed to helping brands manage rising demand and challenges like Return to Origin (RTO).
Last year, brands within the GoKwik network saw a 34% increase in GMV and a 38% rise in orders, even with concurrent major marketplace sales, reflecting their growing resilience. The network experienced a 7% reduction in RTO rates, with expectations for this improvement to double this year due to enhanced customer communication strategies. Tier 3 cities emerged as major contributors, accounting for nearly 40% of total orders, by bundle offers and premium products, with increased spending facilitated by Buy Now, Pay Later (BNPL) and credit options. GoKwik’s network includes over 4,000 brands across various categories, such as Lenskart, Neemans, Man Matters, and Shoppers Stop.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
