Unicommerce Reports Big Inventory Boost for Festive Season in India
New Delhi [India], September 24: As the festive season approaches, categories such as footwear, electronic wearables, kitchenware, and home furnishings have seen rapid growth in inventories, according to data from e-commerce enablement platform Unicommerce.
The analysis shows that brands and retailers are ramping up their inventories to meet consumer demands. From June to August 2024, inventory levels across various categories have notably increased. Footwear brands have increased their inventories by over 55%, while electronic wearables have seen a 33% rise. Kitchenware and home furnishings have also geared up, with inventories rising by 30% and 26%, respectively.
However, the most substantial inventory build-up has been in the jewellery and healthy snack categories, where stock levels have surged by over 100% and 75%, respectively, aligning with seasonal shopping trends.
The inventory build-up is crucial for ensuring faster deliveries, as brands aim to meet service level agreements (SLAs) during the festive period when demand peaks and logistics networks face increased pressure.
Kapil Makhija, MD and CEO of Unicommerce, said, “E-commerce is centerstage as shoppers in India load up their festive carts. Unicommerce’s technology provides the capability and extra cushion to support e-commerce companies and retail brands during this period.”
This analysis is based on data from the company’s top 80+ clients. Unicommerce manages over 8300 warehouses and 2950 omni-enabled stores across India, the Middle East, and Southeast Asia.
Doubts Revealed
Unicommerce -: Unicommerce is a company that helps online stores manage their products and orders. They make it easier for these stores to sell things on the internet.
e-commerce enablement platform -: An e-commerce enablement platform is a tool or service that helps online businesses run smoothly. It helps with things like managing products, orders, and deliveries.
inventories -: Inventories are the stocks of products that stores have ready to sell. It’s like the items you see on the shelves in a shop, but for online stores.
festive season -: The festive season in India includes celebrations like Diwali, Dussehra, and Christmas. During this time, people buy a lot of gifts and new items, so stores need more products.
footwear -: Footwear means shoes, sandals, and other things you wear on your feet.
electronic wearables -: Electronic wearables are gadgets you can wear, like smartwatches and fitness bands.
kitchenware -: Kitchenware includes items used in the kitchen, like pots, pans, and utensils.
home furnishings -: Home furnishings are items used to decorate and make a home comfortable, like curtains, cushions, and furniture.
jewellery -: Jewellery includes items like necklaces, rings, and bracelets that people wear to look nice.
healthy snacks -: Healthy snacks are foods that are good for you, like nuts, fruits, and granola bars.
peak demand -: Peak demand is the time when a lot of people want to buy things, usually during festivals or special occasions.