{"id":26050,"date":"2023-07-12T15:40:50","date_gmt":"2023-07-12T10:10:50","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=26050"},"modified":"2023-07-12T15:45:15","modified_gmt":"2023-07-12T10:15:15","slug":"ecommerce-updates-that-you-should-know-2023","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/ecommerce-updates-that-you-should-know-2023\/","title":{"rendered":"A 24% growth and other eCommerce news and updates that you should know"},"content":{"rendered":"<p>How has eCommerce been performing in 2023 so far? In short &#8211; very well! Despite the global economic slowdown and the eventual reopening of physical stores, Indians have demonstrated their unwavering dedication to a delightful blend of online and offline shopping experiences.<\/p>\n<p><strong>According to an official report by Unicommerce, eCommerce in India has seen a 24% increase in sales in Q2 of the year 2023 (April-June)!\u00a0<\/strong><\/p>\n<h2><strong>Here are some other eCommerce news and updates\u00a0<\/strong><\/h2>\n<ol>\n<li>\u00a0If January &#8211; March saw a 16% growth, the following quarter saw an increase of 24%. The segments that saw high growth were &#8211; <a href=\"https:\/\/www.instamojo.com\/blog\/how-to-sell-medicines-online\/\" target=\"_blank\" rel=\"noopener\">Pharmaceuticals<\/a> and Eye-Wear.<\/li>\n<li>A senior eCommerce industry executive also <strong>observed a slowdown<\/strong> in &#8220;low-priced items&#8221; like fashion, appliances etc. People are spending more on premium categories that have a <a href=\"https:\/\/www.instamojo.com\/blog\/low-cost-high-profit-margin-products-sell-online\/\" target=\"_blank\" rel=\"noopener\">higher price point<\/a>.<\/li>\n<li>The total number of orders placed online witnessed a<strong> 41% growth in the Indian state of Telangana <\/strong><\/li>\n<li>A <a href=\"https:\/\/www.indianretailer.com\/article\/technology-e-commerce\/digital-trends\/online-retail-boom-outpace-offline-growth-2030\" target=\"_blank\" rel=\"noopener\">report by Deloitte India<\/a> titled &#8220;The future of retail&#8221; predicates that the online retail sector, which stood at $70 billion in 2022, will see a surge up to $325 billion by 2030. <strong><br \/>\nIt outlined 6 future trends that online sellers should stay on top of:\u00a0<\/strong><\/p>\n<ul>\n<li>Rising new commerce (penetration in tier 2 cities)<\/li>\n<li>Technology for a more frictionless customer experience (AR, VR, Metaverse etc.)<\/li>\n<li>The technology offered by <a href=\"https:\/\/www.instamojo.com\/?utm_source=imblog&amp;utm_medium=interlink&amp;utm_campaign=home_page\" target=\"_blank\" rel=\"noopener\">SaaS providers like Instamojo<\/a> that power Kirana stores<\/li>\n<li>A rise of the luxury market<\/li>\n<li>Private labels and D2C distribution by brands that focus on consumer consciousness<\/li>\n<li>Experiential retail that gives shoppers an immersive experience<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p style=\"padding-left: 20px;\">5. <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">India has recorded <\/span><b style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">89.5 million digital transactions in the year 2022 and its total value stood <a href=\"https:\/\/inc42.com\/features\/record-breaking-numbers-upi-2022-hint-india-maturing-digital-payments-ecosystem\/\" target=\"_blank\" rel=\"noopener\">at Rs.125.95 Lakh Cr<\/a>, a 1.75x YoY increase!<\/b><\/p>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">That is more than the top 4 countries combined! India accounted for 46% of all digital payments happening globally. <\/span><\/p>\n<p>Still dependent on Cash-on-delivery? You are missing out.<\/p>\n<div>\n<div class=\"dnXCYb\" tabindex=\"0\" role=\"button\" aria-controls=\"_O-usZKXbJYqQ4-EP8Nm_6AY_40\" aria-expanded=\"true\" data-hveid=\"CCQQAQ\">\n<div class=\"L3Ezfd\" data-ved=\"2ahUKEwjl5PnC-IWAAxUKyDgGHfDsD20Quk56BAgkEAI\"><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">UPI and digital payments have become ingrained in India&#8217;s digital landscape. As a business owner, it&#8217;s crucial to stay ahead of these trends for continued success.<\/span><\/div>\n<\/div>\n<\/div>\n<p>With<strong> Instamojo smart links<\/strong>, all you need to do is share a payment link with your customers. Customers can effortlessly enter their shipping details and complete their transactions without ever leaving the window!<\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/lZMKkVUgc_A\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Talk about a seamless checkout experience!<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: center;\"><a class=\"mb-button mb-style-flat mb-size-default mb-corners-default mb-text-style-default \" style=\"background-color: #2bc470;\" href=\"https:\/\/www.instamojo.com\/payment-links\/?utm_source=imblog&amp;utm_medium=interlink&amp;utm_campaign=payment_links\">Sign up on Instamojo <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"How has eCommerce been performing in 2023 so far? In short &#8211; very well! Despite the global economic&hellip;\n","protected":false},"author":67,"featured_media":26052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[6056,6182,4700,6183,6185,6184],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A 24% growth and other eCommerce updates that you should know<\/title>\n<meta name=\"description\" content=\"Online sales in India has seen a 24% increase in sales. 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