Online shopper base jumps 24% in first festive week: Report

New Delhi, Oct 25 (KNN) Due to the expansion of e-commerce platforms in tier 2 and 3 cities, the shopper base has witnessed a 24 per cent year-on-year (YoY) increase in the first festive week as compared to CY21, a report by Redseer Strategy Consultants said.

The report states that the increase is due to the growth in financial constructs and technological innovations such as live commerce, social commerce, and video commerce, among others. The first festive week saw approximately 75 to 80 million users place orders across various platforms, the report claimed. 

Sanjay Kothari, associate partner, Redseer, said that under the e-commerce segment, for the first four days, high-end smartphones, including the iPhone 12, iPhone 13, and OnePlus led mobile sales. 

The report observed that the premium and mid-ranged segments had fueled the sales for smartphones due to the increase in affordability from e-commerce sales and the availability of buy-now-pay-later alternatives.

“Mobile phone sales dominated the market with 41 per cent contribution in GMV. The average daily GMV for mobile devices increased ten times over regular business days,” he stated. 

As per the report, large e-commerce players sold mobile phones for an estimated Rs 11,000 crore between September 22 to September 25. 

Between September 22 to September 25, online platforms clocked in revenue of Rs 24,500 crore, the report observed. The online festive sales had led to nearly Rs 40,000 in gross merchandise sales (GMV), the report stated. 

This was in line with the Redseer’s report which had estimated a GMV of nearly 41,000 crores for festive sale one, it claimed.

Additionally, the report mentioned that 60 per cent of its forecast was completed within the first four days of the sale, contrary to the 59 per cent from last year.  (KNN Bureau)