Chennai: More than half of the estimated gross merchandise value for the entire festive month by e-commerce portals has already been achieved in the first week.
In the first week of the festive season sales, e-commerce platforms have clocked Rs 47,000 crore GMV, registering a growth of 19 per cent, said Redseer Strategy Consultants. RedSeer expects that the festive month is estimated to account for e-commerce sales of Rs 90,000 crore, which is 20 per cent higher than last year’s festive month sales.
High average-selling price items such as mobiles, electronics, and large appliances emerged as the largest contributor to the sales during Week 1, driving 67 per cent of the total sales with premiumization emerging as a key theme in these categories.
Trends suggest that low-priced categories like fashion, beauty and personal care, and home, will continue to grow in the remaining festive season, Redseer said. In the remaining part of the festive season 55 per cent of the consumers who shopped during Week 1, are planning to make more purchases. More than 50 per cent of these consumers are planning to make these purchases in fashion, and more than 25 per cent of these consumers are planning to purchase other low-priced categories like beauty and personal care and home and living.
