In the first four days of the holiday season sales, e-commerce companies have sold goods worth Rs 24,500 crore (USD 3.5 billion).
According to a report by the strategy consulting firm Redseer, during this time 1,100 mobile phones worth approximately Rs 11,000 crore were sold on major e-commerce platforms every minute, propelled by the more expensive models.
Details about the first four days of the holiday season sales, e-commerce companies sell goods worth Rs 24,500 crore:
Additionally, the daily average gross merchandise value (GMV) for fashion increased by 4.5 times as compared to days when business was conducted as usual (BAU), reaching Rs 5, 500 crore in the first four days, it continued.
“The first four days (Sep 22–25) of the ongoing festive Sale event 1 have clocked in a sale of Rs 24.5k crore or USD 3.5 billion, contributing to 60% of the targeted GMV for festive sale 1,” Redseer stated.
The first four days of last year made up 59%, indicating a better-than-expected start to the holiday season this year, it was stated.
Festive Event 1 is the first round of holiday sales, which includes the “Big Billion Day Sale” on Flipkart, the “Great Indian Festival” on Amazon, the “Mega Blockbuster Sale” on Meesho, as well as deals on websites such as Myntra, Ajio, and Nykaa, among others.
The article stated that the “first four days of the Christmas sale this year are almost 1.3x the first four days of the festive sale last year.”
“For the first festive sale, Redseer had previously predicted a GMV of USD 5.9 billion (about Rs 41,000 crore), and as anticipated, we are on track to hit this mark. In the first four days of the sale, up to 60% of our forecast was already met “said Sanjay Kothari, a Redseer Strategy Consultants Associate Partner.
The survey claims that e-commerce sites typically host three deals leading up to Diwali.
The first of these sales is typically the biggest and accounts for more than 50% of the total sales over the holiday season, it continued.
60–70 lakh mobile phones were sold in the first four days in terms of units. “For the first week of the holiday season, we anticipate selling between 90 lakh and 1 crore mobile devices overall. This year, luxury phones are also fueling mobile growth “Kothari remarked.