E-commerce shopping in India is likely to cross $9 billion in gross value this festive season, predicts management consultancy RedSeer Consulting. The e-commerce sales this year are expected to grow by a quarter in comparison to the previous year, adds the RedSeer’s “E-commerce Festive Season Report”.
In the first week of the festive season, online platforms are likely to record a 30 percent year-on-year growth in the total value of goods sold online (before cancellations or return).
Mrigank Gutgutia, the associate partner at RedSeer, said, “We believe that the 2021 online festive sales will continue to ride on strong tailwinds of greater consumer digital adoption supported by an increasingly positive macro and consumption sentiment post the COVID second wave has passed.”
Tier-2-plus cities and towns will continue to drive growth as they are 55-60 percent of the total shopper base this year, similar or higher than 57 percent in 2020 festive days, Gutgutia added.
Sellers are also bullish about making good profits this festive season. About 80 percent of sellers believe that festive sales will enable them to drive strong sales growth and make up for the losses during the pandemic.
Consumer electronics and fashion products are expected to record the highest sales, says the report.
Meanwhile, e-commerce giants like Amazon and Flipkart have already started strengthening their supply chain to cater to the high demand. Flipkart has announced that The Big Billion Days sale that will kick off from October 7 and continue till October 12. Amazon will counter Flipkart with its Great Indian Festival sale.
Not just online but offline sales are also expected to go up this festive season. The report said that offline retail and mobility is already recovering “almost up to pre-Covid levels”.
Source : https://www.cnbctv18.com/retail/indias-e-commerce-may-bill-9-billion-this-festive-season-report-10870422.htm