January 5, 2024
Of the 5.5 million transactions in December, 63% (3.4 million) were attributed to the mobility category
The remaining 37% (two million) fell within the retail category
The network aims to facilitate 6.5 million to seven million transactions by the end of March
The network boasts around 40,000 sellers operating in approximately 200 cities
In December 2023, the government-backed Open Network for Digital Commerce (ONDC) achieved a milestone by recording over 5.5 million transactions, marking the highest monthly figure since its inception. This significant growth contrasts with the modest 2,000 orders ONDC had registered in January of the previous year.
Of the 5.5 million transactions in December, 63% (3.4 million) were attributed to the mobility category, while the remaining 37% (two million) fell within the retail category. In the retail segment, food and beverages constituted 32.5% of the orders, followed by fashion at 29.6%. Other retail transactions were distributed across categories such as home and kitchen (12.6%), grocery (10.1%), beauty and personal care (8.5%), and electronics (5.7%). The highest number of single-day orders recorded by ONDC so far has been approximately 217,000.
Experts suggest the network aims to facilitate 6.5 million to seven million transactions by the end of March.
ONDC aspires to increase e-commerce penetration in the country to 25% within the next two years, aiming for a gross merchandise value of US$ 48 billion. Currently, the network boasts around 40,000 sellers operating in approximately 200 cities.
Buyer apps currently live on the ONDC network encompass well-known names such as Paytm, Pincode, MagicPin, Mystore, Ola, Namma Yatri, SpiceMoney, NoBrokerhood, Craftsvilla, Airpay, Meesho, and, on the business-to-business front, Rapidor and Signcatch.
Source: Economic Times