A report released at the India D2C Summit projects the D2C market to rise to $61 billion by 2027
Mumbai: Emerging Indian D2C brands are expanding their offering with ONDC (Open Network for Digital Commerce) with every passing month, according to a report released at the two-day India D2C Summit held here on August 28-29.
From 3.59 million retail segment orders in April, the platform recorded 5 million orders in May with a single-day record of 200,000 retail transactions.
The grocery and food delivery categories, each crossed one million orders for the first time, the home and kitchen had 630,000 orders, fashion segment had 330,000 orders among others, The India D2C Report said.
Bypassing the intermediaries and traditional distribution channels, and leveraging digital platforms and cutting-edge technologies to service consumers directly, D2C brands have emerged as a disruptive force on the Indian retail landscape.
From $17 billion in 2023, India’s D2C brand market currently with over 600 brands is projected to more than triple to $61 billion by 2027, growing at a CAGR of 38%.ONDC is a non-profit company established by the state-run Department for Promotion of Industry and Internal Trade to develop open e-commerce.
The top three states with orders on ONDC were Delhi, Uttar Pradesh and Maharashtra, wherein Uttar Pradesh saw order numbers nearly doubling up and Bihar reportedly growing 42%.
In June, the e-commerce platform ONDC achieved 10 million (6.1 million non-mobility and 3.9 mobility) transactions, and 12 million (7.6 million non-mobility and 4.4 mobility) transactions in July with daily orders peaking at 430,000.
Going by the trend, ONDC is hopeful of achieving 30-40 million monthly digital transactions by FY25-end, the report said. The government aims to increase India’s e-commerce penetration to 25% with the ONDC network, targeting a gross merchandise value of $48 billion in the next couple of years
