The week-long online festive sale saw 23 percent year-on-year (YoY) growth with $ 4.6 billion worth of goods sold driven by categories like mobile, appliances, and fashion, according to a report by consultancy firm Redseer.
According to the report, Flipkart Group emerged as the leader during the festive sales with an impressive 64% market share. The company along with rival Amazon started its festive sale on October 3.
Redseer had forecast a sale of $4.8 billion in the first week of the festive sale.
The overall online shopper base grew by 20 percent compared to last year with Tier II contributing to around 61 percent of all shoppers. Also, the overall gross merchandise value per shopper has grown by 1.04x, indicating an inherent aspiration in the shopper.
After a poor showing during last year’s festive, customer demand for fashion was back this year with affordable models and new platforms targeting Tier II users.
Mobile phones remained a strong category with around Rs 68 crore of mobiles purchased every hour during the period.
Interestingly, the e-commerce platforms were able to save an average of five hours on delivery timelines to customers with better warehouse planning and a streamlined supply chain this year.
“The festive season this year has been one that is driven by a larger theme of affordability. Constructs were built carefully by the platforms through BNPL schemes and bank tie-ups as well as seller-driven discounts to serve up the most competitive prices of top leading brands and serve the aspiring customer,” said Ujjwal Chaudhry, associate partner at RedSeer Consulting.