NEW DELHI: E-commerce firms are estimated to have registered a 27 per cent growth, clocking sales worth Rs 40,000 crore, during the recently concluded seven-day festive season sale, a report said on Thursday.
Flipkart Group, including Myntra, Shopsy etc, maintains its leadership position, while Meesho is the second-largest contributor in order volume, the report by Redseer Strategy Consulting said.
"With the conclusion of Festive Sale 1, the online retail platforms have seen a robust 27 per cent year-on-year growth, clocking a sale of USD 5.7 billion or Rs 40,000 crore," the report said.
The firm has done an analysis of Festive Sale week 1 including sale events conducted by all online retail platforms between September 22 and 30, and for platforms that did not run a sale during any of these dates, the report considered business as usual order volumes.
The growth in sales was driven by sales of mobile phones.
"Mobile as a category continued to lead GMV (gross merchandise value) share, contributing to 41 per cent of the GMV, translating to 56,000 mobiles sold per hour. On the other hand, fashion contributed to 20 per cent of GMV, which grew 48 per cent Y-o-Y from last festive season," Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
When compared to BAU (business as usual), mobile saw the highest growth at around 7 times while electronics and large appliances saw about 5 times growth, fashion about three times growth, and other categories at close to 2 times growth.
Flipkart Group maintains its leadership position, while Meesho is the second largest contributor in order volume, according to Redseer.
Flipkart Group (Flipkart, Myntra and Shopsy) continues to maintain its leadership position with 62 per cent market share in GMV during the Festive Sale Week 1.
In terms of order volumes, Meesho, with its low average order value and high penetration in Tier-2 cities, emerged as the second largest player capturing around 21 per cent of the market share while Flipkart Group leads here as well, Kothari said.
In terms of transacting shoppers, the number increased by 24 per cent Y-o-Y with around 65 per cent of shoppers coming from Tier 2 cities.
"A whopping 7.5-8 crore shoppers placed orders across all platforms in Festive Sale Week 1. Tier 2 and beyond cities witnessed the highest Y-o-Y growth in online shoppers. Moreover, the spend per online shopper increased marginally by 3 per cent during the recently concluded festive week," Redseer said.