The firm said the sector is on track to achieve a gross business value of $4.8 billion for the entire current festive season.
Redseer Consulting said e-commerce platforms, including social commerce and grocery online, generated $2.7 billion in sales in the first four days (October 2 to 5) of the festive season.
The firm said the sector is on track to achieve a Gross Merchandise Value (GMV) of $4.8 billion for the entire current festive season.
The first four days of the festive week in CY20 accounted for 63% of the season’s total sales, as compared to 57% of the sales in the four days this year. According to a mid-celebration analysis conducted by Redseer, smartphones contributed about 50% of the GMV during the first four days.
Ujjwal Choudhary, Associate Partner, RedSeer said, “With festive sales lasting longer than last year (9 days as compared to 7 days), we see customer demand being concentrated throughout the period as compared to the first half. more spread out. Festive week. To that tune, we saw $2.7 billion in sales across the eCommerce platform and we expect another $2.1 billion in the next 5 days. “
Some 75% of customers will make purchases equal to or more than last year in categories such as mobile, large appliances, beauty and fashion, while many sellers will offer ~10-30% discounts across platforms with the goal of driving higher volume sales Firm added.
.