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Festive sales hit $6.5 billion in a week on ecommerce street: report

Economic TimesEconomic Times · 9m ago
Festive sales hit $6.5 billion in a week on ecommerce street: report
Medial

- Online marketplaces recorded a 26% increase in sales, reaching $6.5 billion in one week of festive sales. - Mobile phones, electronics, consumer durables, home, and general merchandise accounted for three-fourths of the total sales. - Sales in the first week made up for about 55% of the total expected ecommerce sales during the festive season this year. - Ecommerce giants Flipkart and Amazon India started their annual festive season sales on September 27, with a strong demand observed from tier-II and beyond cities. - Supply chain issues pose a significant challenge for brands during the festive rush, with demand exceeding expectations in some cases. - Quick-commerce platforms are also witnessing growth during the festive season, particularly in categories like wearables and audio products.

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Festive sales end with a bang, after Rs 1 lakh crore of clicks

Economic TimesEconomic Times · 8m ago
Festive sales end with a bang, after Rs 1 lakh crore of clicks
Medial

Ecommerce platforms in India recorded total sales of nearly Rs 1 lakh crore ($11.9 billion) during the festive season, expanding by over 23% from the previous year. The growth was driven by demand from non-metro consumers and increased purchases of luxury brands. Smartphones emerged as the leading category, accounting for nearly 65% of all smartphone sales. Premium fashion and large appliances also saw significant growth. The rise in festive sales was reflected in the increase in Unified Payments Interface (UPI) transactions and total settlements. Quick commerce performed better than expected, contributing about $1.1-1.2 billion in sales. Homegrown direct-to-consumer brands saw a significant increase in revenue.

Quick commerce to contribute $1B in GMV during festive season: Shiprocket

YourStoryYourStory · 8m ago
Quick commerce to contribute $1B in GMV during festive season: Shiprocket
Medial

Shiprocket, an ecommerce enablement platform, predicts that quick commerce will drive demand and contribute $1 billion in gross merchandise value (GMV) this festive season. The Indian festive ecommerce market is expected to grow by 23% during the months of October to December, reaching $12 billion in comparison to $9.7 billion the previous year. This growth will stem from consumer demand in categories such as fashion, electronics, beauty, and personal care. Shiprocket notes that the increased digital penetration in Tier II and Tier III cities is a key driver, with 60% of online festive orders expected to come from non-metro areas. The country's ecommerce export market is also set to surge, potentially reaching $200-300 billion by 2030.

Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report

YourStoryYourStory · 10m ago
Ecommerce adoption in Tier II set to surge as 60% consumers boost festive online budgets: Meesho report
Medial

More than 60% of shoppers on Meesho, an ecommerce marketplace, plan to increase their online shopping budgets, indicating a growing trend of ecommerce adoption in Tier II cities. The company's report, "E-commerce Festive Forecast 2024," suggests a shift towards planned shopping, with 60% of respondents preparing their festive purchases in advance. Social media and influencers play a significant role in shaping consumer purchasing decisions, with 40% of shoppers driven by FOMO and 50% relying on influencer affiliate links. Positive reviews, high-quality content, and detailed product information also influence online purchases. Meesho has created around 850,000 seasonal job opportunities this festive season, a 70% increase from last year.

Festive Rush Sparks Speed War: Quick Commerce & Ecommerce Battle For Fastest Deliveries

Inc42Inc42 · 9m ago
Festive Rush Sparks Speed War: Quick Commerce & Ecommerce Battle For Fastest Deliveries
Medial

- Efficient supply chain is crucial for the long-term sustainability of India's quick delivery realm. - Same-day and next-day deliveries have seen a significant increase during peak periods, now accounting for 12-15% of total ecommerce deliveries. - Ecommerce platforms are now focusing on swift deliveries (same day or next day) during the festive season, compared to the earlier timeline of 4-5 days. - Demand for fast deliveries has surged compared to last year's festive sales. - Quick-commerce players are expected to capture a significant portion of the customer base seeking instant gratification. - Ecommerce platforms are striving to stay ahead of the delivery curve and ensure no shopper is left craving amid the festive rush.

Will Quick Commerce Eat Amazon, Flipkart’s Festive Season Lunch?

Inc42Inc42 · 9m ago
Will Quick Commerce Eat Amazon, Flipkart’s Festive Season Lunch?
Medial

- Quick commerce platforms are gaining a significant share in online grocery sales, expected to reach 51% outside the festive season. - Quick commerce platforms are challenging local kirana shops rather than traditional ecommerce marketplaces. - Ecommerce giants like Flipkart and Amazon dominate mobile phone sales and quick commerce platforms have limited impact in this category. - Customers prefer the credit features, returns, and exchanges offered by ecommerce marketplaces during the festive season. - Quick commerce platforms have limited inventory risks in the fashion category, with vertical marketplaces holding the key share. - Quick commerce platforms are rapidly adopting skin care and beauty products, which may impact niche players like Nykaa and Purplle. - The emergence of quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart has disrupted traditional ecommerce giants in the market.

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