The ecommerce platforms saw a modest increase of about 10% year-on-year from January to July in 2023 compared to the same period in 2022. The festive season sales thus are of significance as companies would try to generate a significant chunk of their sales during this period.
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Over the past decade, Indian ecommerce has seen its GMV grow 20 times, while the annual transaction user base has expanded 15 times to hit 230 million this year, the report said.
Flipkart, ahead of its flagship Big Billion Days sale, has been organising a series of seller gatherings in various major cities, including Delhi, Surat, Jaipur, Agra, Hyderabad, Bengaluru, and Kolkata. Amazon India also held its Smbhav seller meet last month ahead of its flagship festive sale, called Great Indian Festival. Both marketplaces are yet to announce dates for their festive season sales. Typically, they last for about 30 days, most of them in October.
Also read | Amazon extends warehousing infrastructure to sellers outside its platform
Redseer said at least 140 million shoppers will be transacting online during this season.
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“Over the last several quarters, we are seeing enhanced GMV contributions from categories beyond electronics. While electronics sell a lot in the festive period, looking at the bigger picture and comparing the festive sale periods over the last several years, there is a clear trend of category diversification,” said Mrigank Gutgutia, partner at Redseer Strategy Consultants.The contribution from higher-margin categories such as Beauty and Personal Care (BPC), Home and General Merchandise, as well as Fashion is expected to increase, the report said.
The Redseer report also noted that direct-to-consumer (D2C) brands are expected to have a more significant presence during this festive season. Increased adoption of new-age technology solutions, such as generative AI, during the sales is expected to enhance new-consumer experiences and likely to improve the overall consumer experience, leading to robust growth during sales, it added.
