The fashion and accessories segment has shown maximum growth with increased number of direct-to-consumer (D2C) brands in last two years even as D2C market has been growing rapidly.
During FY ’22, the fashion and accessories’ segment saw a year-on-year growth of 89.5 per cent on brand websites compared with 52.2 per cent growth the year before.
Following the fashion and accessories segment is the health and pharmaceutical segment that reported order volume growth of 84.8 per cent on brand websites, alongside its muted growth of 9.2 per cent on marketplaces.
This leads to a strong growth of brand websites as consumers prefer to order directly from the brand.
The FMCG and agriculture segment witnessed a Y-o-Y growth of 67.7 per cent on brand websites in FY ’22, while marketplaces grew by 50.6 per cent.
The report further said brands across segments are building a strong online presence with focus on selling directly to consumers, and companies have realised it is important to invest in strong brand website operations to develop a connection with consumers.
For retailers and brands, the accessories market in India will continue to present an opportunity to innovate and grow.