New Delhi- E-commerce platforms sold goods worth Rs 76,000 crore during the festive season sale in October, registering about 25 per cent year-on-year growth, market research firm Redseer Strategy Consultants said on Thursday.
While Redseer did not disclose the performance of various platforms, the firm’s Partner Ujjawal Chaudhry said the overall performance of the e-commerce companies was in line with the findings of the company for the first week of the festive sale which was led by Flipkart in terms of total sales.
“We predicted about Rs 83,000 crore but at the end it reached to Rs 76,000 crore GMV (gross merchandise value) which is 8-9 per cent lower than our initial prediction. However, the number of Rs 76,000 crore itself is reasonably high. The growth perspective we have seen is 25 per cent year-on-year growth which is pretty healthy,” Chaudhry said.
According to Redseer estimates, Flipkart Group, including Myntra, Shopsy etc, maintains its leadership position with a 62 per cent share in Rs 40,000 crore GMV during the first week of festive sale and Amazon followed it with 26 per cent share.
Without disclosing sales break-up of individual platforms during the entire festive season, Chaudhry said, “Trends are similar to festive season 1 sales. Flipkart continues to be a leader.”
In terms of category-wise performance, the fashion segment grew 32 per cent on YoY basis, mobile phones 7 per cent, electronic items including appliances grew 13 per cent while other segments grew 86 per cent.
While mobile phones continue to command higher share during the festive season sale, the fashion category continued to grow and closed the gap with mobile phones.
“People who wanted to buy mobile phones, bought them in the first week of sales. In the second phase, items with lower average selling price (ASP) did better,” Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
Redseer estimates that the online shopper base increased by about 26 per cent while around 64 per cent of shoppers came from tier 2 and beyond cities. Around 11.2-12.5 crore shoppers placed orders across platforms, according to Redseer.
Chaudhry said sellers shared that e-commerce players were more supporting this year which is going to help online retailers build wide ecosystem. (PTI)