Industry

‘E-tailers clock $8.3 bn in Oct.-Nov.’

Big draw: This season saw 88% customer growth, driven by about 40 million shoppers from Tier 2+ cities.  

India’s online festive sales for a month from mid-October to November clocked $8.3 billion, a 65% year-on-year growth, and Flipkart Group played a dominant role with a share of 66% of the total sale, Redseer Consulting said on Friday.

“The overall growth story has been very bullish this festive season. We had predicted $7 billion of sales but the actual figures surpassed our expectations, showing how comfortable consumers have become with shopping online even in this pandemic-hit year,” Mrigank Gutgutia, director at consulting firm RedSeer, said.

The festive season for this year saw 88% customer growth from last year, driven by about 40 million shoppers from Tier 2+ cities.

Further, mobiles continued to dominate across all products. With a further increasing share of users from Tier 2+ cities, GMV (gross merchandise value) per customer dropped to ₹6,600 from ₹7,450 in the last festive season. “According to our estimates, Flipkart Group emerged as the leader during the whole festive month with 66% share of the total sale,” he said.

Factors like high pre-sale awareness and anticipation driven by an impactful campaign, wide selection across categories and seamless supply chain planning helped Flipkart and Amazon to drive growth this festive season, Redseer said.

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Printable version | Jan 21, 2021 12:43:03 PM | https://www.thehindu.com/business/Industry/e-tailers-clock-83-bn-in-oct-nov/article33195937.ece

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