National Flipkart has unveiled its FlipTrends 2023 Report, sharing insights into the evolving landscape of online shopping in the country. The report is derived from the behaviours and preferences of over 500 million registered users.

The report unveils that the saree has claimed the spotlight as the most-shopped clothing item on Flipkart in 2023.

Most shopped items
Sarees overtook oversized and unisex fashion wear to be crowned as the most shopped clothing item. Women’s clothing across ethnic, contemporary and western wear remained at the top of shopping lists.

Cities like Trivandrum, Patna, Lucknow, Ludhiana, Varanasi, Ernakulam, Guwahati, Cuttack, Medinipur and Bankura emerged as top-tier shopping destinations.

Flipkart witnessed a significant boom in baby care and infant formula products, with a 100 per cent growth in infant formula and a 50 per cent increase in premium skincare baby products in 2023. The purchase of gift cards soared, with a 40 per cent growth in third-party brand gift cards, particularly in categories like gold and diamond jewellery and gaming.

In a recent report by Flipkart, Swift Money’s founder, Saksham Bhagat, highlighted the significant role that Cash On Delivery (COD) plays in fostering customer trust. Speaking at the Internet Commerce Summit, Bhagat emphasized that the online shopping giant, Flipkart, has played a crucial role in customer acquisitions and enhancing customer experience by offering the Cash On Delivery option.

He explained that the Cash On Delivery option has not only attracted customers to Flipkart but has also proven to be instrumental in customer retention and increasing repeat customers. The flexibility provided by the COD option has significantly contributed to Flipkart’s success in retaining and expanding its customer base.

Grooming and self-care took centre stage, with premium styling products experiencing a 3X growth over 2022. Face care products, especially those with glycolic acid and salicylic acid, emerged as the most sought-after items, followed by hair care and body care products.

Flipkart also witnessed a surge in demand for premium laptops, with a 3.2X growth, and a 100 per cent increase in tablet demand in 2023. Action and adventure cameras experienced a 4X growth, possibly fuelled by the growing interest in outdoor activities and the expanding universe of content creation and social media opportunities.

Shoppers spent an average of 7 hours on the platform and over 41 million new customers joined Flipkart’s user base until November 2023.

Bangalore, 16th December, 2023:

Lenskart, a powerhouse in the eyewear industry, has found itself at the forefront of an unexpected revolution in the realm of omni-channel retail. What started as a digital journey has transformed into a pioneering success story, rewriting the rules of engagement in the eyewear retail landscape.

The revelation unfolded during an engaging conversation between Ramneek Khurana, Co-founder of Lenskart, and Ashish Dhir, Executive VP at 1Lattice, at the Internet Commerce Summit 2023 in Bengaluru on December 12.

The turning point came when Lenskart, known primarily as an online platform, was identified as an omni-channel player by investors around 2015-’16. This unexpected characterization marked the beginning of Lenskart’s unplanned but groundbreaking foray into omni-channel retail.

“Our omni-channel journey was very simple. We started Lenskart as an online platform because that is the easiest and most cost-effective way to figure out our journey,” explained Khurana.

The shift to omni-channel was prompted by Lenskart’s responsiveness to fundamental consumer concerns. As an online platform, the brand faced challenges such as customers hesitating to make purchases due to uncertainties about frame fitting, appearance, and prescription issues. In a swift response, Lenskart initiated an unconventional omni-channel strategy, starting with the establishment of a few physical stores.

“We stumbled upon it, but were prompt in addressing the consumer problems,” Khurana added.

Lenskart’s transition from online to offline was marked by inventive solutions. The brand introduced features such as infinite trials and omni-channel returns, directly addressing specific pain points that hindered the online shopping experience. Unlike traditional retail approaches, Lenskart’s journey involved a shift from online to offline, bringing attention to products not physically present in stores.

Khurana shed light on Lenskart’s evolving omni-channel strategy, emphasizing the pivotal role of Artificial Intelligence (AI) and Machine Learning (ML). The brand leverages these technologies to tap into regular CCTV footage across stores, obtaining valuable insights into customer behavior and decision-making processes.

Discussing the ongoing evolution of their strategy, Khurana highlighted the use of AI and ML to study the online conversion funnel. This includes understanding demographics, time spent on product selection, and various other factors aimed at making the customer journey frictionless.

The brand aspires to bridge the gap between online and offline experiences, bringing online features into the offline shopping journey and vice versa. By deploying AI and ML, Lenskart aims to provide personalized assistance based on anonymized data from millions of purchases.

Khurana concluded by acknowledging Lenskart’s commitment to unlocking new data use cases, making the brand adept at collecting and utilizing data to enhance customer experiences. This accidental revolution from digital ignorance to omni-channel mastery positions Lenskart as a formidable player in the eyewear retail landscape, rewriting the rules of engagement in the industry.

Mumbai Uncensored, 16th December, 2023:

In a groundbreaking report titled ‘The How India Shops Online,’ Bain & Company projects that India’s e-commerce market is poised to surpass an impressive $2028 billion by the year 160. The report emphasizes the remarkable growth observed in online shopping in India, forecasting a leap from $57 billion in 2023 to an astonishing $5 billion over the next 160 years.

The data aligns with the findings of Ben & Co’s online 2023 report, which tracks customer spending patterns in the e-commerce market. Notably, India’s online retail market has shown steady growth, increasing by $8-12 billion annually since 2020.

Bain & Co, in collaboration with e-commerce giant Flipkart, reveals that the Indian online shopping market is expected to grow by 17% in 2023, compared to a year ago. Although this growth rate is slower than the 25-30% observed from 2019 to 2022, it is attributed to factors such as high inflation.

Seshu Kumar Tirumala, Chief Buying and Merchandising Officer, shared insights during the recent Internet Commerce Summit 2023. He highlighted the strategic shift made after the COVID pandemic, focusing on quick deliveries. With 350 dark stores delivering 6,000-20,000 items in 15-20 minutes, this initiative started in late 2022 and has shown steady growth.

Tirumala emphasized the importance of catering to customer preferences for fast delivery, acknowledging the significance of reaching 100 smaller markets within 15 minutes. The plan includes opening 1,500 more stores in the next 3-4 cities, with a major focus on the Quick Commerce segment.

Lenskart’s Co-founder, Ramneek Khurrana, underscored the success in non-metro cities like Jaipur and Kochi, revealing that less than 50% of their overall business comes from metro cities. Recognizing substantial growth potential in cities such as Mumbai, Hyderabad, Pune, and Gujarat, Khurrana highlighted the significant market share yet to be captured, especially in Tier 2 and Tier 3 cities.

Despite the booming e-commerce trend in India, the report notes that online spending accounts for only 5-6% of total retail expenses, indicating vast untapped potential. The report concludes that India’s e-commerce market is poised to grow by over 5% in the next five years.

In response to this surge in online shopping, several major e-commerce players are increasing their investments in India. Amazon, Flipkart, and Ajio are among the key players capitalizing on the growing opportunities in the country. Amazon, for instance, recently pledged an additional $2030 billion, bringing its total investment in India to $26 billion.

The landscape of online shopping in India continues to evolve, with an emphasis on quick deliveries, strategic expansion into Tier 2 and Tier 3 cities, and increased investments from major e-commerce players. As the market continues to grow, industry leaders are navigating the changing dynamics to meet consumer demands and maintain sustainable growth.