Is this the sign of economic recovery as consumption is back on track?
• One of the most promising sign was the rising number of first-time shoppers, according to Business Standard.
• This development indicates that people are consuming and the consumption might be on track as there are many occasions in India which make people shop more.
The Indian e-commerce industry reported a significant 56% growth in order volumes in the festival season as opposed to the past year. This development led to a 50% growth in Gross Merchandise Value as reported by Unicommerce, the country's largest e-commerce-focused software as a service platform.
Gross Merchandise Value (GMV) is the total value of merchandise sold over a given time through an e-commerce site. It is a measure of the growth of the business or use of the site to sell merchandise owned by others.
GMV is useful to determine the health of an e-commerce website's business because its revenue will be a function of gross merchandise sold and fees charged. It is most useful as a comparative measure over time, such as current quarter versus previous quarter value.