Online festive sales to clock gross merchandise value of $4 8 Billion in 2021, with 30% growth YOY: RedSeer 1

It provides consumers with a purchasing experience that includes integrated payment, logistics, and vendor services. Individuals and organizations can use SeaMoney for a variety of payment services and loans. It also works with third-party merchants and covers a variety of consumption scenarios. The value of orders of items and services on the Shopee marketplace is referred to as “gross merchandise value,” or “GMV.” Shipping and other expenses are included in the GMV calculation for our e-commerce platform.

gross merchandising value

The superapp began with a cumulative consumer base of 120 million users and 2,500 offline stores, along with an 80 million app footprint across its digital assets. JM Financial highlighted that it is difficult to accurately ascribe value to TataNeu due to lack of granular data around the number of users and GMV as it is early days of the app’s launch. However, it emphasized that the valuation of the company should be akin to valuing an e-commerce company. If all works fine, JM Financial believes that TataNeu’s GMV could increase to ₹1.54 lakh crore (approximately $20 billion, at current conversion rate) by the end of this decade. The company based this prediction on the gross merchandise value of key categories on the superapp. Shares of One97 Communications, the parent company of fintech firm Paytm, rose 4% after hitting a more than three-month high of Rs 739 on Thursday…

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According to official data, TikTok Indonesia’s e-commerce business saw a 493% increase in orders and a 92% increase in GMV during the period. Additionally, fashion is also expected to see a steady recovery this festive season, with greater outdoor mobility of consumers and steady rebound of fashion and office wear. It gives access to e-sports as well as other entertainment material and social elements such as live games streaming, user chat, and online forums.

gross merchandising value

In addition, Sumit Jain from HT Media is joining the Gurgaon-based company as the chief technology officer . According to the company, its net sales and operating results were “significantly affected” by a continuation of the global health crisis. “While Tata is ticking all the right boxes in their digital shift, the mere enormity of this transition makes this an audacious endeavour. Drawing lessons from Walmart’s pivot to e-commerce, we believe Tata will need sustained investments in this space to succeed,” the report noted. The gross merchandise value of Flipkart has exceeded the pre-Covid-19 levels, global retail major Walmart Inc, which owns a majority share of India’s leading e-commerce platform, said.

Flipkart gross merchandise value exceeds pre-Covid-19 level: Walmart

Dismissing reports of a possible sale of Jabong, Chrestin said the company would continue to grow in India. “Our management at any point of time always evaluates all options to maximise value for the shareholders, employees and our customers,” he said. We are in transition from a startup environment to a professional-run sustainable businesses for all our 28 markets,” Chrestin said, adding that he will continue to be stationed in New Delhi for months to oversee a smooth transition to the new team.

gross merchandising value

This statistic highlights Overstockcom’s Retail Gross Merchandise Value from 2019 onwards, reported annually. TataNeu could be worth $15 billion as it is in position to clock $20 billion in sales by the end of this decade. Walmart’s sales in the US market were up 93.3 per cent to $93.3 billion in the May-July quarter. Walmart’s overall revenue was up 5.6 per cent to $137.7 billion while its international sales were down 6.8 per cent to $27.2 billion in the second quarter, Walmart said in earning statement. Our mission is to deliver premium content and contextual insights on China’s technology scene to the worldwide tech community.

A source close to TikTok’s e-commerce business said that since the end of 2021, TikTok’s Indonesian e-commerce business has seen rapid growth in the entry rate of merchants every month after focusing on increasing investment. This year, April coincided with Ramadan, which is the most common time of the year for Indonesians to shop online. TikTok’s e-commerce took this opportunity to launch a round of promotion activities to attract users.

The “bottom” defines the comparative position of the net income amount on a corporation’s revenue statement. Its GMV — total value of merchandise sold over a given period of time — currently stands roughly around ₹16,000 crore ($2 billion). JM Financial has gross merchandising value based this prediction on the gross merchandise value of key categories on the superapp. Net sales of Walmart International, which is present in nine markets including China, Japan, Mexico, the UK apart from India, declined 6.8 per cent to $27.2 billion.

In terms of GMV and total orders, the Shopee e-commerce platform was the largest in the region in 2020. Shopee is a highly scalable marketplace platform that connects customers and sellers that has been mobile-first from its beginning. The overall online GMV is expected to touch $49-52 billion, which is around 37 per cent growth from last year. It is primarily driven by strong consumer funnel expansion and the high adoption of online shopping post-COVID across categories. The new built-to-suit centers will push the company’s warehousing space footprint to 14 million sq ft.

The company is based near Salt Lake City, Utah, and was founded as a Utah limited liability company (“LLC”) in 1997, reorganized as a C Corporation in the State of Utah in 1998, and it was reincorporated in Delaware in 2002. The company offers a broad range of price-competitive products, including furniture, décor, area rugs, bedding and bath, home improvement, outdoor, kitchen, and dining items. It sells products and services through its Internet websites and mobile app. The company’s goal is to provide goods to furnish and accessorize “Dream Homes for All”, particularly for the target customers—consumers who seek smart value on quality, stylish merchandise at competitive prices. Overstockcom offers millions of products of which over 99% were in-line products . It believes that the furniture and home goods market, which is highly fragmented and traditionally served by brick and mortar stores, will continue to transition to online sales as consumers become increasingly comfortable shopping online.

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The company continues to sell household decoration, furniture, bedding, and many other products, but it also sells new products. This year’s festive sales is expected to grow 30 per cent year-on-year to $4.8 billion during the first week of the festive season. It will potentially clock over $9 billion GMV during the whole festive month, according to leading homegrown consulting firm RedSeer’s latest eCommerce Festive Season report.

The company continuously adds newness to its product assortment to meet the evolving trends and preferences of its customers and current trends. Digital entertainment, e-commerce, and digital payments and financial services are the three categories in which the company works. Garena’s platform provides mobile and PC online games, as well as mobile game development for the worldwide market. Sea Limited, founded in 2009, is a holding company for Shopee, SeaMoney, Garena, and the Singapore Premier League football team Lion City Sailors FC. It employs over 33,000 people.

  • The company’s goal is to provide goods to furnish and accessorize “Dream Homes for All”, particularly for the target customers—consumers who seek smart value on quality, stylish merchandise at competitive prices.
  • The total number of loans disbursed by Paytm grew by over three fold to about 9.2 million in the quarter ended September 2022, from 2.8 million a year ago.
  • This move showed Bytedance’s ambition to expand its footprint in the booming livestream and new consumption sectors.
  • It also provides digital payment options and a loyalty programme to retailers.

“At the end of the day, it should be about how much cash has been collected. Since then, shares have more than halved, falling to their 52-week low of Rs 510 earlier this year. CEO Vijay Shekhar Sharma is confident that Paytm will be a profitable company by September 2023. “We have logged USD 1 billion in GMV in the financial year 2020 and we are on the road to double it every year. Our aim is to hit USD 4 billion in GMV by 2022,” Grofers founder Saurabh Kumar told .

Nearly 80 per cent of them agree that festive sales will play a key role in recovery from COVID losses, while 70 per cent agreed that the bigger online players have been supportive and positive, which led up to the sales event. ShopX currently operates across 460 towns, processing about 20,000 transactions daily. The company enables merchants and small retailers to connect with brands through its platform, bringing down their supply chain costs by 40-60%, Amit Sharma, CEO, ShopX said. It also provides digital payment options and a loyalty programme to retailers. After a gap of almost four months, e-commerce giants resumed online sales beginning June, addressing continued demand from customers for home essentials including electronics and appliances.

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The funding will be used to expand across categories and geographies, and strengthen its back-end technology, said Angad Kikla, cofounder and CEO of Citymall. The total number of loans disbursed by Paytm grew by over three fold to about 9.2 million in the quarter ended September 2022, from 2.8 million a year ago. This statistic highlights Sea Limited’s Gross Merchandise Value , reported on a quarterly basis from Q onwards. Regularly updates its product assortment to meet the evolving preferences of its customers and current trends.

Kuaishou Technology has recently made a major adjustment to its overseas business so as to merge its three products into one and improve their overall efficiency. The gross merchandise value of TikTok e-commerce in 2021 totaled about 6 billion yuan ($951 million), of which 70% or more came from Indonesia and the remaining 30% or less came from the U.K. TikTok’s e-commerce achieved rapid growth in the first half of the year, which benefited from its expansion in Southeast Asia, in addition to its own small volume. The company has set up a laboratory to test the private-label products quality before on-boarding them for sale.

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