New Delhi: India’s festive e-commerce sales rose 12 per cent year-on-year to $14 billion in gross merchandise value terms, according to a report by Redseer Strategy Consultants. Consumers spent money on quick commerce in cat gories such as electronics, fashion, as well as beauty and personal care. Consumers made purchases related to home furnishings as well as groceries.
During the festive season extending from September 15 to October 31, metro area sales were driven by items like premium products as well as those with a lower average selling price.
Tier-2 cities surprise
According to the report, customers in tier-2 cities exhibited a strong spending potential. Another interesting aspect of their consumer behaviour is the reliance on e-wallets for e-commerce transactions. This bodes well for e-commerce growth in the coming years, said Kushal Bhatnagar, associate partner at Redseer.
Smaller cities showed higher festive e-commerce growth at 13 per cent compared to the national average of 12 per cent, according to the report. While new shopper acquisition has slowed down, there is still scope for e-wallet penetration. Fashion, led by ethnic wear and accessories emerged as the fastest growing category during this period while premium electronics such as air conditioners registered the second highest growth due to extended summer-like conditions, according to the report.
Non-grocery sales rose jumped on festive days on metro cities such as Delhi, Mumbai as well as Bengaluru, which led in this category. Another important development was the inclusion of electronics and home appliances in offerings by quick commerce companies.
India’s festive season sales rose 12 per cent on-year crossing the Rs 1.18 lakh crore mark in 2024. Here’s why Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
