6/8/2023 0 Comments Download steep to![]() ![]() While that was an increase of 30 percent YoY, the pace was slower than the 43-percent jump that it registered in FY22 over FY21. Thanks to the price pressures, even the monthly shopper base increased at a slower pace to reach around 65 million in FY23, from 50 million in FY22. ![]() ![]() “Overall consumption growth has been tepid in recent quarters owing to inflationary concerns yet e-tailing (is) better placed than offline,” the report added. “The e-tailing market in India has been slowing since the pandemic to grow GMV at 22 percent in FY23 to reach $60 billion,” said Mrigank Gutgutia, partner at Redseer, a consultancy firm. For e-commerce companies such as Flipkart and Amazon, while GMV is a reflection of the total value of goods sold, their revenues are only the fees/commissions earned from sellers during that period. It may sometimes be the same as revenues depending on the type of business. Simply put, GMV is the total sales over a period of time. ![]() However, the pace of YoY growth slowed sharply to 22 percent in FY23 when the GMV increased to $60 billion. And then the GMV further increased by around 36 percent year-on-year (YoY) to $49 billion in FY22. After growing at over 35 percent during the pandemic years, the rate of increase in e-commerce gross merchandise value (GMV) slowed in the previous financial year (FY), the analysts at Redseer said.Į-tailing GMV grew by about 44 percent from $25 billion in FY20 to $36 billion in FY21. ![]()
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