2021 saw India witness its biggest ever Festive Sales with brands clocking a GMV of $9.2 bn through online channels over this period.
E-commerce firms such as Amazon, Flipkart, and others witnessed blockbuster festive season sales of about $9.2 billion this year surpassing the pre-pandemic sales of $5 billion witnessed during the festive month in 2019. The Coronavirus (Covid-19) pandemic has accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency than last year, according to analysts.
The year 2021 saw India witness its biggest ever Festive Sales with brands clocking a gross merchandise value (GMV) of $9.2 billion through online channels over this period, according to consulting firm RedSeer’s e-commerce festive season report. RedSeer came close in predicting this figure with its forecast of $9.6 billion for this year’s GMV falling within just a 5 per cent range of the actual figure ($9.2 billion).
As has been the case for the last five years or so, online festive sales in India continued to grow at a blistering pace and saw a 23 per cent year-over-year growth in GMV.
“A slew of new launches and easy financing options meant that mobiles continued to remain the most widely-sold product category during this time, accounting for more than a third of the total GMV,” said the RedSeer report.
Last year (2020), India’s online festive sale for a month — during October-November — raked in $8.3 billion in gross sales, including for brands and sellers, according to analysts.
With people finally getting to leave their homes after months of lockdown, the fashion category witnessed a resurgence like never before. Driven by consumers’ desire to refresh their wardrobes and new innovative business models catering to shoppers in tier-2 cities, the sales of fashion items via online channels doubled this year.
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