Ecommerce firms sell goods worth Rs 24,000 crore in first two days of festive sales: Redseer

E-commerce companies are projected to have generated sales worth approximately Rs 24,000 crore within the initial two days of the festive season, as reported by consultancy firm Redseer Strategy Consultants. The surge in order volumes played a significant role in driving this growth, with mobile phones leading in terms of value contribution.

Redseer Strategy Consultants associate partner, Nikhil Dalal, mentioned that the figures indicate an expanding Indian e-commerce basket. These early sales accounted for over $2.5 billion (around Rs 24,200 crore) in gross merchandise value (GMV), with around 60-65 million shoppers participating on the first two days.

Mobile phones constituted the largest category by value, accounting for roughly 38-40% of the total sales, or about Rs 9,100-9,600 crore. Consumer electronics, encompassing large appliances and electronics, contributed around 25-27% of the overall sales, or Rs 6,000-6,500 crore, while fashion products made up 15-18% of the GMV, or about Rs 3,630-4,350 crore.

The 55-inch TV upgrade, large appliances, and electronics together accounted for approximately 25-27% of the GMV, with large TVs, refrigerators, and air conditioners representing more than two-thirds of the sales in this segment.

Fashion GMV experienced a growth of 22-25% year-on-year, accounting for 15-18% of the total GMV and significantly more than its baseline average. Gen Z shoppers accounted for about one-third of the opening-day participants. The first two days saw e-commerce sales from Tier 2 and rural areas making up around two-thirds of the total shoppers.

Approximately 15-16 crore unique shoppers typically engage with e-commerce platforms in a typical month, and the initial two days of this festival brought over one-third of this monthly shopper base into the festive season, including 100 million shoppers in the first 11 days.