BENGALURU: India’s e-commerce industry is expected to clock sales worth over 9 billion this festive month, a 23% growth in Gross Merchandise value (GMV) YoY, according to the latest report by research firm Redseer.
In the first weeks of the festive month alone, the sales by the e-tailers are likely to touch $4.8 billion, a 30% increase in GMV YoY.
E-commerce giants including Amazon, Flipkart have strengthened their logistics capabilities, announced recruitment of part-time workers as well as onboarded sellers/ brick and mortar stores on their platforms to cater to the increased demand during the month-long festive season across the country.
Flipkart has announced its mega sales event, Big Billion Days Sales from October 7-12 with the etailer expected to announce mega discounts/ exclusive launches in smartphones, home appliances, fashion, home decor categories.
Amazon is likely to announce its Great India Festival season dates on Friday, according to top sources.
The Redseer report indicated that the etailers sold products worth $7.4 billion in 2020. This was despite the pandemic having disrupted the economy and casting an impact on the purchasing power of consumers.
The survey added that the growth will be mostly driven by the accelerated online adoption which has been witnessed as an effect of Covid.
Secondly, Tier 2+ will continue to drive growth as they are 55-60% of the total shopper base this year, similar or higher than 57% in 2020 festive days.
E-tailers sold products worth $7.4 billion in 2020
This was despite the pandemic having disrupted the economy and casting an impact on the purchasing power of consumers.
The growth will be driven by the accelerated online adoption.