Summary:

GoKwik predicts a 40% growth in online sales for the forthcoming festive season, driven by a robust Indian economy, ambitious Gen Z customers, and the rise of direct-to-consumer (D2C) firms. Data reveal a 38% increase in GMV and a 49% increase in orders from June to July 2024, indicating an earlier start to the festive season. Chirag Taneja, co-founder, emphasized the growing importance of D2C brands and GoKwik’s role in managing expanding demand and RTO challenges.

Despite significant marketplace sales, GoKwik network brands increased their GMV by 34% and orders by 38% last year. The network reduced RTO rates by 7%, with expectations to double this improvement this year due to enhanced customer communication. Tier 3 cities contributed roughly 40% of orders, driven by bundle offers and BNPL options. The network includes over 4,000 brands, including Lenskart and Shoppers Stop.

Source: IBEF 

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