E-commerce. (Representative picture)
Quick commerce is a 3-participant construction in India with Blinkit as a market chief with almost 40 per cent share
Walmart group agency Flipkart continues to dominate the e-commerce section with 48 per cent market share whereas Softbank-backed Meesho has emerged because the quickest rising e-commerce platform by way of consumer base in India, a contemporary report by AllianceBernstein mentioned. According to the report, Flipkart’s consumer base grew 21 per cent 12 months-on-12 months (YoY), Meesho accelerated at 32 per cent whereas Amazon lagged at 13 per cent consumer progress primarily resulting from relative premium choices as in comparison with friends.
“As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce. Flipkart continues to grow faster than the industry… Mobile and apparel to be the largest categories for Flipkart with around 50 per cent and 30 per cent mix. Flipkart is estimated to hold 48 per cent and 60 per cent market share in online smartphone and online fashion market respectively,” the report mentioned. The report attributed progress in Meesho’s market share primarily to its strategic focus Tier 2 and smaller cities resulting from its mass positioning, working by way of a zero-fee mannequin.
“In the last 12 months, Meesho’s order volume grew 43 per cent YoY with revenue growth at 54 per cent through healthy take rates, repeat customers are around 80 per cent,” it mentioned. The report mentioned that Meesho’s round 80 per cent of the sellers are retail enterprise house owners and about 95 per cent of the choice on the platform is unbranded.
“Meesho is the fastest growing e-commerce platform in India with around 120 million average monthly active users (MAUs),” the report mentioned. According to AllianceBernstein evaluation, present GMV (gross merchandise worth) run fee of Meesho enterprise is over USD 5 billion with round 50 per cent GMV from attire, BPC (magnificence and private care) is round 8-10 per cent and residential and kitchen contributing within the vary of of round 8-10 per cent.
“We expect Meesho to be the key gainer with over 48 per cent downloads in Indian eCommerce and gain incremental market share,” the report mentioned. A Nielsen Media research, commissioned by Amazon India, in September had discovered Amazon India to be probably the most most well-liked on-line model for the respondents throughout India.
In style e-commerce, Reliance-owned Ajio has been buying customers and presently holds round 30 per cent market share based mostly on MAUs, nonetheless, Flipkart Group agency Myntra continues to carry the best market share by way of energetic customers with over 50 per cent share. “In December 2023, Myntra exhibited the highest growth rate amongst peers at 25 per cent. A closer look at the business suggests that users on the app are not transacting as much as previous trends, Myntra’s GMV grew only 12 per cent in FY 23 as compared to 35 per cent in FY22,” the report mentioned.
Amongst e-grocery gamers, Blinkit continues to develop the quickest pushed by maturity out there. Zepto, which started its operations in April 2021, nonetheless lags as in comparison with Blinkit by way of product choices and attain, the report mentioned.
“As per our industry discussions, quick commerce is a 3 player structure in India with Blinkit as a market leader with nearly 40 per cent share, Instamart at 37-39 per cent and Zepto at around 20 per cent share from a GMV perspective,” the report mentioned.
.
