India's e-commerce festive sales touch ₹24,000cr in first 2 days
What's the story
India's e-commerce companies have raked in business worth around ₹24,000 crore in the first two days of the ongoing festive season sale. The surge is primarily attributed to a spike in order volumes, with mobile phones leading the charge. According to Redseer Strategy Consultants, an estimated 8-9 crore orders were placed across various platforms such as Amazon, Flipkart, Meesho and Ajio during this period.
Market expansion
Tier 2 and smaller town shoppers favor value fashion
Nikhil Dalal, Associate Partner at Redseer Strategy Consultants, told PTI that the first two days of the sale indicate a widening basket for India's festive e-commerce.
He said consumers are expanding their spending beyond mobiles to include fashion, electronics, and appliances.
Tier 2 and smaller town shoppers particularly favored value fashion at accessible price points during this period.
Sales breakdown
Mobile phones accounted for 38-40% of sales
Mobile phones accounted for a whopping 38-40% or around ₹9,100-9,600 crore of the total sales during the first two days of festive sales.
Consumer electronics and fashion products contributed 25-27% (₹6,000-6,500 crore) and 15-18% (₹3,630-4,350 crore) respectively to the overall sales.
Large appliances and electronics together made up about 25-27% of GMV with TVs, refrigerators, and ACs accounting for more than two-thirds of large-appliance sales.
Market trends
Gen Z accounted for nearly 33% of opening-day shoppers
Fashion GMV grew 22-25% year-on-year in the first two days, making up 15-18% of total GMV.
Gen Z shoppers accounted for nearly one-third of opening-day shoppers.
About two-thirds of an estimated 6-6.5 crore shoppers who bought products during these days came from Tier 2 and rural areas, according to Redseer estimates.
This highlights the growing influence of smaller towns in India's e-commerce landscape.