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Summary:

The Indian electric vehicle (EV) industry is expected to expand significantly through 2030. Directto-consumer (D2C) companies have outperformed marketplaces in recent sales, with orders increasing by 64% year on year compared to 26% for marketplaces, according to GoKwik. This trend reflects rising customer trust in D2C firms, which are thriving due to personalization and seamless experiences. Footwear led the way with a 273% gain, while fashion and cosmetics witnessed growth rates of 84% and 73%, respectively.

 

The average order value (AOV) for D2C brands grew by 11% year on year, from US$ 16.28 (Rs. 1,368) to US$ 22.25 (Rs. 1,869). Jewellery drove this growth, rising from US$ 14.37 (Rs. 1,207) in 2023 to US$ 21.53 (Rs. 1,809) this year. Prepaid orders rose by 5%, notably in fashion. Tier 1 cities experienced a 96% rise in orders, with Maharashtra, Karnataka, Uttar Pradesh, Delhi, and Tamil Nadu seeing the greatest increases. GoKwik collaborates with over 10,000 brands and expects this favorable trend to continue throughout the Diwali season.

 

Source: IBEF 

 

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