Flipkart Group emerged as overall leader during the week-long
festive sales, accounting for 68% of the total sales as the country saw a
massive 55% (year-on-year) growth.
Riding on a
shopping surge in smaller towns and cities, Flipkart Group emerged as overall
leader during the week-long festive
sales, accounting for 68 per cent of the total sales as the country saw a
massive 55 per cent (year-on-year) growth with $4.1 billion (nearly Rs 29,000
crore) goods being sold across ecommerce platforms.
This figure was
$2.7 billion for the seven-day festive sales period last year.
Flipkart
Group and Amazon together accounted for over 90 per cent of the total
online sales during the seven-day period, according to Bengaluru-based
consulting firm RedSeer which has forecast that online platforms will clock $4
billion in sales for the respective festive period this year.
"eCommerce
sector has exceeded the aggressive forecasts we had made a few weeks before the
festive season week one started out," said Mrigank Gutgutia, Director at
RedSeer Consulting.
The number of
shoppers during the first week jumped from 28 million last year to 52 million
this year which is 85 per cent (y-o-y) growth.
"This points
to a revival of consumption sentiment among Indian shoppers, where they have
been shopping online in big numbers driven by massive selection, great prices
and the convenience and safety of shopping from home," he added.
The key themes
that boosted this year's festive sales include affordability, mobiles, tier II
growth wave, availability of stock items which directly resulted in recovery of
sales for brands and sellers -- who have been strongly enabled by the online
channels to drive their sales growth which was affected by the COVID impact on
offline channels.
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