Market research firm Redseer Strategy Consultants said on Thursday that e-commerce platforms sold goods worth Rs 76,000 crore during the festive season sales in October, registering around 25 percent growth year on year.
While Redseer did not disclose the performance of the various platforms, partner Ujjwal Chowdhury said the overall performance of the e-commerce companies was in line with the company’s results for the first week of the festive sale which Flipkart led in terms. of total sales.
“We had projected around Rs 83,000 crore but in the end it came to Rs 76,000 crore GMV (gross merchandise value) which is 8-9 per cent lower than our initial forecast. However, the figure of Rs 76,000 crore itself is reasonably high,” Chaudhary said. The growth perspective that we’ve seen is 25 percent growth year-over-year which is very healthy.
According to Redseer estimates, Flipkart Group, including Myntra, Shopsy and others, maintains its leading position with a 62 per cent share in GMV Rs 40,000 crore during the first week of the festive sale and is followed by Amazon with a 26 per cent share.
Without revealing the breakdown of sales of individual platforms during the entire festive season, Chaudhary said, “The trends are similar to sales of the festive season 1. Flipkart remains the leader.”
In terms of performance in terms of category, the fashion sector grew by 32 percent year-on-year, mobile phones by 7 percent, electronic gadgets including hardware by 13 percent, while other sectors grew by 86 percent.
While cell phones continue to gain a higher share during the festive season sales, the fashion category has continued to grow and close the gap with cell phones.
“People who wanted to buy mobile phones, bought them in the first week of sales. In the second phase, items with low average selling price (ASP) performed better,” said Sanjay Kothari, Associate Partner at Redseer Strategy Consultants.
Redseer estimates that the online shopper base increased by about 26 percent while about 64 percent of shoppers came from Level 2 and Beyond cities. According to Redseer, shoppers have placed around Rs 11.2-12.5 crore orders across the platforms.
Chowdhury said sellers shared that e-commerce players have been more supportive this year which will help online retailers build a broad ecosystem.