Early Growth Indicators
According to data from the GoKwik network, gross merchandise volume (GMV) from over 4,000 DTC brands increased by 38% in July compared to June, with order volume rising by 49%. These early indicators suggest that this year’s holiday shopping season is beginning earlier and is largely driven by online shopping.
The Rise of DTC Brands
Consumers are increasingly valuing the direct connections, personalized experiences, and unique products offered by DTC brands. Generation Z is a significant driving force behind this trend. Many Gen Z consumers, having entered the workforce, now have greater disposable incomes and are turning their attention to high-end products, particularly brands that prioritize environmental sustainability and social responsibility. GoKwik predicts that consumption during this holiday season will significantly increase, positioning DTC brands at the forefront of the consumer market.
Consumer Trends and Market Opportunities
The average order value (AOV) for holiday spending is expected to rise by 12% to 15%, driven by bundled offers, a focus on high-end products, and increased demand for gifting. Notably, third-tier cities accounted for nearly 40% of total orders during last year’s holiday season. As Internet penetration increases and convenient payment methods like buy now, pay later gain traction, purchase intentions in these regions are gradually rising.
Chirag Taneja, co-founder and CEO of GoKwik, stated: “Despite the global economic slowdown, consumers across India, including tier-3 and tier-4 cities, continue to experience rising disposable incomes and an upward trend in spending. In a diversified market driven by this trend, DTC brands cater to varying preferences and market segments, further increasing consumption.”
The Role of Coupons in Consumer Shopping
To meet the growing demand for online shopping, many DTC brands are attracting consumers through promotions and coupons. Websites like Promocodie provide a variety of discounts and offers, helping consumers maximize savings while shopping. Consumers can also find various discount codes to enhance their online shopping experience. During the upcoming holiday season, they can utilize these coupons to enjoy a more cost-effective shopping experience.
Looking to the Future
As consumers’ shopping habits evolve and technology advances, the e-commerce industry will face new opportunities and challenges. DTC brands must continue to innovate to adapt to market changes while capitalizing on the upward trend in online sales. As more consumers focus on the stories and values behind brands, those with unique positioning and sustainable development concepts are more likely to gain market favor. Additionally, incorporating effective promo codes into their marketing strategies can help DTC brands further engage consumers.
In this holiday season, the marketing strategies and consumer experiences of DTC brands will play a crucial role in attracting attention and driving sales growth.
Jimmy Zhao
LinkGains (HK) Limited
+852 8193 0698
email us here
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Originally published at https://www.einpresswire.com/article/735730318/gokwik-predicts-40-growth-in-online-sales-during-the-2024-holiday-season-in-india
