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India witnessed Rs 47,000 crore GMV in first week of festive sales; Flipkart takes lead: Report
IndianStartupNews
·
1y ago
Medial
The first week of India's festive season sale in 2023 saw online platforms generating a GMV of around Rs 47,000 crore, marking a 19% growth compared to the previous year. Flipkart Group maintained its dominant position with a 63% market share, closely followed by Amazon. Meesho secured the second spot in terms of volume. Consumer preferences leaned towards "essential upgrades" in categories like mobiles, electronics, and large appliances, contributing to 67% of the GMV. Financing options and the "pre-book and price-lock" feature drove premiumisation trends.
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Festive season sales GMV rises 16 per cent YoY to Rs 29,000 crore in first 4 days: Redseer report
Business Today
·
1y ago
Medial
According to a report by Redseer Strategy Consultants, the Gross Merchandise Value (GMV) during the first four days of this year's festive season sales in India grew by 16% year-on-year, reaching Rs 29,000 crore. The sales saw a tenfold increase on the early access day and a sevenfold surge on the first day. The report attributes this growth to the fear of missing out (FOMO) among consumers and the availability of financing options. The report also mentions the pre-book/price lock feature that allowed customers to lock in prices for high-value products before the sale event began.
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Festive sales hit $6.5 billion in a week on ecommerce street: report
Economic Times
·
10m ago
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 may fetch Flipkart up to Rs 36,000 crore in gross sales
Economic Times
·
1y ago
Medial
Flipkart is expected to generate a gross merchandise value (GMV) of around Rs 33,000-36,000 crore during the ongoing festive season sale. The sale, which began on October 8 and is expected to continue until Diwali in November, is divided into three stages to drive a significant portion of the annual sales. The growth in Flipkart's sales can be attributed to increased demand for high-value items like smartphones, electronics, and appliances, with premium smartphones showing a particularly strong performance.
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E-commerce sales to surge 20% to Rs 90,000 crore this festive season: Redseer
Business Today
·
1y ago
Medial
Following a period of reduced consumer demand in the last three years, this year's online festive sale events are anticipated to rejuvenate consumption. A report by Redseer Strategy Consultants projects that e-commerce gross merchandise volume (GMV) will increase by 18-20%, reaching an estimated Rs 90,000 crore.
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Quick commerce to contribute $1B in GMV to festival sales: BofA Research
YourStory
·
10m ago
Medial
- Quick commerce is expected to generate $1 billion in gross merchandise value (GMV) during the festival season, with online commerce platforms generating $12 billion in GMV, representing a 23% increase from the previous year. - Quick commerce platforms are projected to contribute nearly $1 billion to the total GMV during the festive season. - Festive consumption is driven by shoppers eagerly taking advantage of offers and deals, with around 65% of online buyers planning to increase their spending during this period. - Non-grocery online sales typically occur during the first wave of the festive season, while quick commerce platforms become more prominent for ordering groceries and festival essentials during the second and third waves. - Changing consumer spending patterns show a shift towards discretionary items like entertainment and travel, impacting retail purchases. - Grocery and beauty/personal care categories are expected to witness faster growth, driven by quick commerce players, challenging vertical e-commerce platforms in the same-day delivery space. - The online grocery market is projected to grow from $317 million in 2023 to $800 million during the 2024 festive season, with groceries contributing 13% of festive e-commerce sales, and quick commerce platforms leading the growth.
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Sale is live! ecommerce companies on track to hit 20-25% growth this season
Economic Times
·
10m ago
Medial
Online retailers like Flipkart and Amazon are expected to experience a 20-25% growth in festive season sales this year, based on the response to the first three days of sales. The online retailers saw a 26% rise in sales compared to last year, totaling about $3.2 billion during September 26-28. Industry estimates predict gross sales of $12 billion for the entire festive season, including discounts and returns. Flipkart is on track to meet its targets, and various categories such as mobile, electronics, and consumer durables, as well as fashion and beauty, have seen significant growth.
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Meesho's festive sale sees record orders on first day, 100% up on year
Economic Times
·
10m ago
Medial
Ecommerce platform Meesho saw a surge in orders during its festive season sale, with nearly double the number of orders compared to last year. The company reported a record-breaking start to its Mega Blockbuster Sale, with about 6.5 crore unique customers on the first day. Nearly 45% of the orders came from first-time customers. Meesho's success comes as Amazon and Flipkart also kick off their festive season sales, with ecommerce platforms anticipating increased demand for high-value items like electronics and fashion. A survey showed that 71% of Indians plan to shop online this festive season.
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Small sellers to up e-commerce ad spend by 75% to cash in on festival season
Money Control
·
1y ago
Medial
According to a report by consulting firm Redseer, small sellers on e-commerce platforms in India, such as Flipkart and Amazon, are expected to increase their online advertising spending by 75% during the upcoming festival season. The report anticipates a 15% increase in overall ad spending compared to last year's festival season. This increase in spending reflects the optimism of sellers, especially smaller ones, in driving sales and capitalizing on the festive period when consumer spending is high.
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Ahead of festive sale, Flipkart pokes fun at Amazon
Economic Times
·
1y ago
Medial
E-commerce giant Flipkart takes a dig at rival Amazon on Twitter, mocking the latter's search result for 'big billion day 2023'. Both companies will launch their flagship sales on October 8. Flipkart introduced 'Flipkart VIP' for select cities, offering early access and cashback benefits. Competitors like Reliance Retail's JioMart and Tata Neu are also expected to join the festive sales frenzy. The government has previously expressed concerns over deep discounting and flash sales on such platforms.
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Nykaa in-house brands cross Rs 2,100 GMV in FY25 - The Economic Times
Economic Times
·
4d ago
Medial
Nykaa’s House of Brands, encompassing seven beauty and five fashion lines, achieved a GMV of Rs 2,100 crore in FY25, marking a 52% CAGR over five years. The parent company, FSN E-Commerce, aims for a GMV target of Rs 6,000 crore by FY30. Beauty and fashion sales contributed 75.5% and the remainder, respectively, to Nykaa's overall GMV of Rs 15,604 crore. Notable growth was seen in products like Dot & Key.
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