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Business News/ Technology / News/  E-tailers clock $4.6 billion in the first week of festive sales

E-tailers clock $4.6 billion in the first week of festive sales

Amazon India accounted for 28% of the total GMV clocked by e-commerce platforms, during the first week of festive sales

Photo: iStock  (iStockphoto)Premium
Photo: iStock  (iStockphoto)

BENGALURU : E-commerce companies including Amazon India and Walmart-owned Flipkart clocked gross merchandise value (GMV) of $4.6 billion (roughly 32,000 crore) in the first week of festive online sales this year, with Flipkart group alone accounting for roughly 64% of the total GMV, according to estimates by management consultancy RedSeer Consulting.

Amazon India accounted for 28% of the total GMV clocked by e-commerce platforms during the first week of festive sales.

The combined GMV this year was 23% higher than last year when e-commerce sales for the first week averaged around roughly $3.7 billion. Further, growth marked by e-commerce sales this year comes despite offline establishments continuing to be open during the festive season.

The growth of e-commerce sales this year comes on the back of new shoppers moving to the online mode of purchases. The overall online shopper base grew by 20% over last year, with tier-II towns and cities accounting for more than 61% of the people making purchases during the festive e-commerce sales.

Close to 40 million of the total of 62 million people who have shopped from online platforms this year were from tier-II cities and beyond, RedSeer said.

Amazon and Flipkart kick-started their flagship festive season sales on 2 October, including early access for premium members.

In terms of category mix, smartphones continued to drive roughly 46% of overall GMV clocked by e-commerce platforms. Fashion made a comeback this festive season, contributing 17% of overall sales, as individuals stepped out of their homes, RedSeer’s estimates showed.

RedSeer states that during the first week of e-commerce sales this year, mobiles worth about 68 crore were sold every hour.

“Fashion also saw demand as customers wanted to refresh their wardrobe, and the reach expanded as newer affordable platforms reached tier-II customers. However, the demand for other categories such as home furnishings, home décor and furnishings have been subdued during the festive season this year," RedSeer said.

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Published: 14 Oct 2021, 11:02 PM IST
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