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Unicommerce Records 18.7 Per Cent Surge in Republic Day Sales; Northeast States Show High Growth

The analysis highlighted that the growth of e-commerce during the Republic Day sale has been supported by attractive deals and nationwide marketing campaigns done by leading marketplaces

Unicommerce Records 18.7 Per Cent Surge in Republic Day Sales; Northeast States Show High Growth
POSTED ON January 24, 2024 6:30 PM

IPO-bound e-commerce enablement SaaS platforms, Unicommerce has unveiled the analysis of the sales during the 2024 Republic Day compared to the previous year. 

The company said that the number of items people bought online increased by 18.7 per cent this Republic Day compared to the sales during the same period last year.   

The platforms analysed order items processed through its platform during the nine days (13th to 21st January) of the Republic Day Sale.   

The growth of e-commerce during the Republic Day sale has been supported by attractive deals and nationwide marketing campaigns done by leading marketplaces. This has helped marketplaces record an impressive year-on-year (YoY) order item growth of 28.7 per cent, during the period. Brand websites, on the other hand, reported a muted YoY growth of 1.7 per cent, while average order value continued to showcase strong growth, the analysis observed. 

According to the orders handled by the platform, the Northeastern states showed big increases in sales, especially Nagaland and Meghalaya which had the highest growth in the number of orders. More people are now comfortable with online shopping, as shown by a 20.6 per cent increase in prepaid orders, and Cash-on-Delivery (COD) orders also went up by 16.2 per cent during the sale, it added.  

After a strong performance in the last quarter of the calendar year, the Republic Day sale kicked off the new year on a high note for the growing e-commerce industry. In 2023, the Black Friday weekend saw a fantastic 23 per cent surge in e-commerce orders volume compared to the 2022 Black Friday sale weekend. The festive season sales of 2023 also rocketed with a whopping 37 per cent growth in order volumes compared to the festive sale period in 2022, the report highlighted. 

Commenting on the Republic Day trends, Kapil Makhija, MD and CEO of Unicommerce, said, "The consistent e-commerce growth affirms the strength and potential of India's e-commerce industry. E-commerce continues to become a larger part of the retail ecosystem and sellers are focusing on both online and offline sale channels, in tune with the evolving shopping habits of buyers.” 

The company has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI), for its initial public offering (IPO).   

Founded in 2012, the e-commerce enablement platform claims to have been making a profit since FY2021. According to the DRHP, it recorded a 52.56 per cent revenue growth in FY 23, which was up from 47.55 per cent in FY 22. As of September 2023, it achieved an Annual Recurring Revenue (ARR) of Rs 103.74 crores. 

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