Online activity shows bounceback in logistics, real estate in June

MUMBAI: The sharpest bounce back in the Unlock 1.0 phase (June 2020) as reflected in online activity has been in the logistic, real, estate and healthcare segment. Through the lockdown phase (March 23 to July 2), non-profit organisations, utilities and software saw the highest growth over average pre-COVID-19 transactions while logistics, travel and lending saw the highest decline.
According to a report ‘101 Days of Covid-19 Era: Impact On Digital Payments’ released by Razorpay on Monday, digital payment transactions have rebounded by 23% in the last 30 days.
Digital economic activity was highest in Bengaluru during the lockdown. Karnataka (with 23%), Maharashtra (17%) and Telangana (11%) saw the highest contribution during the lockdown and Gujarat, Madhya Pradesh and Tamil Nadu dropped by 35%, 32% and 2% respectively.
The overall digital transactions declined by 12% in the last 101 days, compared to a 30% drop in the first 30 days of lockdown.
Payment options like pay later, cardless-EMI and equated monthly instalments have become preferred payment modes with a growth of 290%, 178% and 125% respectively due to stress in income across households.
Online education sector grew by 23% as extended lockdown has led to a massive rise in demand for online courses. Also, medical services are picking up as online consultations & purchases have increased by 20%. To ensure health and safety from Covid-19, Indians opted to stay indoors and paid their bills online - this contributed to the growth of Utilities (bill payments) sector by 163%.
Social distancing has helped dating apps which people turned to for companionship. Social isolation has also led to a surge in online counselling platforms to connect with mental health experts. The social engagement sector (personal counselling, dating & matrimony websites) has witnessed a 32% growth.