Delhi-NCR and Bengaluru have emerged as the top contributors to the Open Network Digital Commerce (ONDC), with the platform surpassing 35,000 daily retail orders. According to sources, Mumbai, Hyderabad, and Pune registered between 2,500 and 3,000 orders each, encompassing food and grocery items. This rapid growth highlights the increasing popularity of the government-backed ecommerce network.
ONDC Aims for 200,000 Daily Transactions and Expansion
T. Koshy, CEO of ONDC, recently shared at an event that the platform is poised to achieve 200,000 daily transactions by the end of the year. The ambitious target reflects ONDC’s determination to challenge established players like Amazon, Flipkart, Swiggy, and Zomato. With a focus on aggressive expansion, It aims to onboard 1.2 million sellers and reach 900 million buyers within two years.
Growth Slowdown and Revised Incentives
After surpassing 25,000 daily orders in May, ONDC experienced a slowdown in its growth rate. This coincided with a reduction in customer discounts and incentives offered to participants on the network. Previously, we offered customers discounts on three orders per day. But we have revised it to a total of 30 orders. The long-term effectiveness of ONDC’s current business model remains uncertain.
Partnerships and Support for ONDC
To support ONDC’s growth plans, PhonePe expanded its native ecommerce platform, Pincode, to cover additional cities such as Mumbai, Delhi, Noida, Gurugram, Chennai, Hyderabad, Ahmedabad, Pune, and Kolkata. In further support, Google announced an accelerator program for ONDC, providing businesses on the platform with access to Google Cloud’s technology and expert guidance. These collaborations and alliances aim to enhance the digital commerce experiences facilitated by ONDC.
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