Latest News | Tech Firm Sees 30 Pc Growth in E-commerce Platforms Sales in 1st Week of Festive Season
Get latest articles and stories on Latest News at LatestLY. E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday.
New Delhi, Oct 5 (PTI) E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday.
EasyEcom said that e-commerce volume will grow more in Tier-2 and Tier-3 towns compared to Tier-1 cities, with non-metros driving nearly 80 per cent of the total e-commerce sales along with Tier-2 towns adding about 60 per cent to the figure.
"The first week of the festive sales across e-commerce platforms in India will exceed the gross merchandise value on non-sale days by five times, projecting a figure which will be around 1.3 times up from last year," EasyECom said.
The company said that its analysis is based on data captured by its software-as-a-service platform which focuses on omnichannel inventory & warehouse management and reconciliations.
The company has seen a 14 per cent growth in product lines on e-commerce platforms.
"The subdued performance of the first quarter due to global events has been compensated for by the second quarter, so the demand will shoot up uniformly. Stock levels, pricing, storage, fulfillment and serviceability need advance planning, and which is something no one can understand better than eCommerce operators whose revenue banks on the festive period," EasyEcom Founder and CEO Punit Gupta said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)