Festive Ecomm sales touch $1.8 billion in 3 days: Report

BENGALURU: India’s online retail sector clocked $1.8 billion in gross merchandise value (GMV) during the first three days of the festive sales and is on track to hitting the $3.7 billion sales mark by the end of the six-day sale period, according to a report from RedSeer Consulting.

RedSeer did not break out individual sales numbers of the two largest players in the market — Flipkart and Amazon. However, it found that consumers preferred shopping for fashion on Flipkart but bought electronics on Amazon due to lower prices and faster delivery.

The report said that 55% of GMV for the sector was driven by mobiles, similar to previous years. Growth was also seen in electronics, fashion and furniture categories, the analyst added. “The first three days have been a strong success for etailers despite challenging macro environment, indicating that consumer sentiment on online shopping remains bullish,” said Anil Kumar, CEO, Red-Seer Consulting.

RedSeer has estimated that e-tailers will clock $3.7 billion in sales during the offer period, a 60-65% growth over the cumulative GMV during last year’s sale period.

With the industry getting to the halfway point in three days, the analyst said that the sector will achieve 80-100% of the predicted sales target.

Another researcher Forrester had also predicted that e-commerce marketplaces would clock $3.8 billion in sales during the six day long sales period.