E-comm festive season sales grew 25% YoY to ₹76,000 cr: Report


Benefiting from the festive cheers, E-commerce platforms saw a 25 per cent yearly growth by selling goods worth 76000 crore during the festive season sale, according to Redseer Strategy Consultants.

The market research firm’s partner Ujjawal Chaudhry said, the overall performance of the e-commerce companies aligned with its findings for the first week of the festive sale which saw Flipkart as the frontrunner in terms of total sales.

“We predicted about 83,000 crore but in the end, it reached 76,000 crore GMV (gross merchandise value) which is 8-9 per cent lower than our initial prediction. However, the number of 76,000 crore itself is reasonably high. The growth perspective we have seen is 25 per cent year-on-year growth which is pretty healthy,” Chaudhry said.

During this year’s festive sales, Flipkart Group, including Myntra and Shopsy, remained at the top with a 62 per cent share in 40,000 crore GMV during the first week of festive sale and Amazon followed it with a 26 per cent share.

Ujjwal further informed that sales trends are similar to festive season 1 sales. Just like the previous sale, Flipkart continues dominate the market. He remained tight-lipped on sales break-up of individual platforms during the festive sales.

The online sale segment continued to expand from last year. Its pace was matched by the fashion segment which grew by 32 per cent on YoY basis. It was followed by mobile phones which grew by 7 per cent, electronic items including appliances grew by 13 per cent while other segments grew by 86 per cent. 

Mobile phones continue to dominate the online festive sales 

According to the firm, mobile phones continued to enjoy a higher share during the festive season sale with fashion category being the runner-up.

The Associate Partner of Redseer Strategy Consultants, Sanjay Kothari, informed that people who were waiting for the sale to buy new phone bought in the first week of sales. The second phase saw the improvement of sales of items with lower average selling price (ASP).

The company also found that there was a rise in the online shopper base in the country. There was a 26 per cent total rise in the shopper base. Tier 2 and beyond cities consumers rose by 64 per cent. Around 11.2-12.5 crore shoppers placed orders across platforms, according to Redseer.

Ujjwal Chaudhry also shared the sellers’ experience, in which they told about the supportive behaviour of e-commerce players. This will ultimately help online retailers in creating a favourable ecosystem.

(With agency inputs)

 

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