Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer
- The e-commerce platforms in India achieved $5.7 billion of online retail sales during the first festive week.
- A total of 75-80 million shoppers placed orders across e-commerce platforms.
Flipkart Groupled the online retail sales in terms of GMV with Amazon placed second.
- Over 56,000 mobile phones were sold per hour during the sale period, contributing to ~41% of the gross merchandise value.
GMV refers to the total value of items sold.
Flipkart was also a leader in terms of order volumes,
As per reports, e-commerce player
The e-commerce industry in India achieved $5.7 billion of online retail sales this year during the first week of festive sales, i.e 22 -30 September – which is a 27% year-on-year growth (for the first week of sales). E-commerce platforms in India usually hold three grand sales ahead of Diwali in India.
The Festive Sale week 1 included sale events conducted by all online retail platforms between September 22-30. And for platforms that did not run a sale during any of these dates, the report had considered BAU (business as usual) order volumes.
“Flipkart Group (Flipkart,
A total of 75-80 million shoppers placed orders across e-commerce platforms during the first week of the festive season, said the Redseer report.
Over 56,000 mobile phones were sold per hour during the above-stated time frame. Mobile contributed to around 41% of the GMV. Fashion contributed to 20% of gross merchandise value, which was 48% higher than last year's festive period.
White goods (large appliances) are expected to gain momentum after the slower start, revealed Redseer.
AdvertisementThe shopper base increased by 24% year-on-year during the first week of sales, with over 65% shoppers coming from tier 2 cities. The spend per online shopper also increased by 3%.
“Consumption, especially in Tier 2+ cities, generally tends to happen closer to festivities. While the beginning of last quarter was slow on demand, we saw a good uptick in consumer sentiment and consumption patterns in late August/ September. This we expect will further lead to demand recovery in build-up to Diwali,” said Redseer.
Spending on fashion, beauty and home decor is expected to rise further as consumers look to upgrade their homes and lifestyles, especially to welcome guests, estimated Redseer.
SEE ALSO: T20 World Cup 2022: India’s squad, schedule, past performance and all details here
Instagram is developing a ‘Nudity Protection’ feature to block unsolicited nude photos in DMs
Spotify kills 11 original podcasts, lays off less than 5% staffers
Popular on BI
- Financial creditors forego Rs 790.626 cr under insolvency resolution process: CARE Ratings
- Google, Microsoft backed VerSe Innovation sacks 150 employees, cuts pay for employees earning ₹10 lakh or more
- Skyroot Aerospace plans to launch another rocket Vikram-1, in one year
- Rupee gains 8 paise to 81.60 against US dollar
- ICICI Bank launches digital lending solution iLens, powered by TCS