Walmart-owned Flipkart has emerged as the e-commerce leader during the week-long festive sales, accounting for 68 percent of the total online sales.
The growth in India’s e-commerce sale was 55 percent with $4.1 billion (nearly Rs 29,000 crore) goods being sold across ecommerce platforms. This figure was $2.7 billion for the seven-day festive sales period last year.
Flipkart Group and Amazon together accounted for over 90 percent of the online sales during the seven-day period, according to Bengaluru-based consulting firm RedSeer which has forecast that online platforms will clock $4 billion in sales for the respective festive period this year.
The number of online shoppers during the first week jumped 85 percent from 28 million last year to 52 million this year.
The key themes that boosted this year’s festive sales include affordability, mobiles, tier II growth wave, availability of stock items which directly resulted in recovery of sales for brands and sellers — who have been strongly enabled by the online channels to drive their sales growth which was affected by the COVID impact on offline channels.
Over 55 percent of shoppers came from tier II cities like Asansol, Ludhiana, Dhanbad and Rajkot among others.
Given the Tier 2+ skew of the shoppers, buyers preferred affordable price ranges this year for almost all product categories, instead of expensive items.
The platforms enabled affordability this year with aggressive tie-ups through brands and financing deals, coming on the back of a bleak, pandemic-affected year, according to the report.
E-commerce marketplaces have also announced the second round of online sales to keep up the momentum.
Online retailers are expected to generate approximately $6.5 billion (Rs 47,751 crore) in sales during the festive month (October 15-November 15).