Inc42 – State of The Indian Ecommerce, 4Q 2023

Inc42's State of The Indian Ecommerce report for Q3 2023 highlights several key points. In this quarter, the total funding raised in the Indian ecommerce sector amounted to over $224 million, with an average investment size of $1.3 million. Direct-to-consumer (D2C) sub sector had the highest number of deals. The gross merchandise value (GMV) of online festive sales reached a staggering $11 billion+, with a 55% satisfaction rate among online shoppers who were particularly pleased with Flipkart’s festive deals. Meesho emerged as the top choice for value deals during the festival season. The report also provides an overview of India's digital economy and ecommerce market, comparing it to the ecosystems in the US and China. It highlights the growth of the Indian ecommerce startup ecosystem in Q3 2023 and trends in startup funding. The report emphasizes the importance of consumer trust as a major driver for the growth of direct-to-consumer (D2C) brands. Additionally, the report delves into the specifics of online festive sales, analyzing the year-on-year GMV growth and customer experiences on notable marketplaces during the festive sales of 2023. Overall, the data presented in the report showcases the significant growth and potential of the Indian ecommerce sector, as well as the importance of customer satisfaction and consumer trust in driving its success.