E-commerce giants Amazon, Flipkart, and others witnessed blockbuster festive season sales this year. The pandemic accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency.
India’s online festive sale for a month — during October-November — raked in $8.3 billion in gross sales, including for brands and sellers, up by 65 per cent year-on-year, exceeding forecasts, according to a report by consulting firm RedSeer.
“The overall growth story has been very bullish this festive season,” said Mrigank Gutgutia, director at RedSeer. “We had forecast $7 billion in sales but the actual figures surpassed our expectations clearly, showing how comfortable consumers have become with shopping online even in a pandemic-hit year.”
The festive season this year saw 88 per cent customer growth from last year, which was driven by 40 million shoppers from tier-2 cities and beyond. Mobile phones continued to dominate across all the products, and with the rising share of users from tier-2 cities and beyond, GMV (gross merchandise value) per customer dropped to Rs 6,600 from Rs 7,450 in the last festive season.
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