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 Group led 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.
  

Flipkart group remains the e-commerce festival sales leader in India with 62% market share in gross merchandise value (GMV), based on data from the first week of sales, according to Redseer’s Ecommerce Festive Season ‘22 report. Amazon was placed second with a 26% market share in terms of GMV.

GMV refers to the total value of items sold.

Flipkart was also a leader in terms of order volumes, Meesho emerged the second largest, capturing 21% of the market, said the report by Redseer, a strategy consulting firm.

As per reports, e-commerce player Amazon India has called the Redseer report on festive season sale numbers as "speculative which lacks transparency", while the consulting firm defended it as an independent research.

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, Myntra and Shopsy) continues to maintain its leadership position with 62% market share in GMV during the festive sale week 1. In terms of order volumes, Meesho, with its low AOV (average order value) and high penetration in Tier-2 cities, emerged as the second largest player capturing 21% of the market share while Flipkart Group leads here as well,” Sanjay Kothari, associate partner, Redseer Strategy Consultants said.

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.

The 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