In its analysis of the first leg of the festive season sale, research company RedSeer noted that e-tailers have recorded $3 billion (INR 19,000 Cr) of GMV in the period.
The report said that the Indian ecommerce marketplace raked in millions of orders between September 29- October 4.
Anil Kumar, founder and CEO, RedSeer Consulting, said the larger push has come from Tier 2 and 3 customers migrating to online shopping driven by the strong value provided from the online retailers across categories including mobiles, which have shown a strong surge during sales.
The report noted that Y-o-Y growth in season sales is 30 per cent, with a significant share coming from Tier 2 markets.
The RedSeer report highlighted that Flipkart continued to lead the festive sales in terms of GMV. It noted that the Walmart-owned ecommerce company got 60-62 per cent share of the total gross GMV share during sale event.
The report also said that a strong performance across categories including mobiles was the key reason for Flipkart’s lead.
RedSeer said that it was further enabled by strong value prices, high EMI adoption and diverse selection across categories, all marketed aggressively to reach customers widely.
At the same time, the report noted that Amazon’s GMV was 28-30% of the total sales. However, it saw a growth of 22% Y-o-Y and its volume growth rate was more than 30% Y-o-Y.
The RedSeer report further noted that the whole festive month i.e. till October-end is expected to generate sales of $6 billion (INR 39,000 crore).
These figures seem to justify the massive investments made by the ecommerce majors in order to prepare for the festive season.