According to the below article, Voonik sells around 25,000 orders per day for women products. That means around 0.75 mn orders per month. As ecommerce conversion rates are around 2-5%, and assuming Voonik does the best with 5%, it means that there are 0.75/0.05 = 15 mn sessions per month on Voonik. Assuming women won't order more than once a month from Voonik, it means Voonik reaches around 15 mn women in a month.
Facebook audience says that there are only 32 mn women in age group of 18-50 in India who are on FB. [Pic Attached] Assuming, people who order from Voonik are also present on FB, this means that Voonik is able to reach
15 out of 32 mn women in a month. That is close to 50% women audience in FB in India. Somehow, this doesn't seem reasonable to me.
Can anyone explain, what is wrong about my above calculation? If there is nothing wrong, what is the headroom for growth for Voonik in women category?
PS: I am just taking Voonik as an example as I could find its data online. I was trying to estimate women who buy e-comm market size in India.