The total value of goods sold during India's e-commerce festival may exceed 675 billion rupees

Recently, according to foreign media reports, based on RedSeer survey data, the gross merchandise value (GMV) of Indian e-commerce platforms during this year's festival is expected to exceed 675 billion rupees, while last year's gross merchandise value (GMV) was 555 billion rupees.

Shreyansh Bhandari, Co-founder and COO, Lyxel&Flamingo, noted, “The festive season is usually the best time to buy electronics and appliances, which will continue to gain traction as always. Apart from this, a few categories that are expected to perform well are fashion and beauty, furniture, and even packaged specialty foods. These categories are driven by new product launches, influx of new brands (natural, organic, etc.) and are largely driven by customer sentiment. Lifestyle brands are also expected to gain good traction during the festive and wedding seasons. With the Indian economy showing signs of recovery , the advertising business is also gaining momentum. According to a recent report by Dentsu, the advertising spend is also expected to grow by 10.8% to $9 billion this year . In addition, many brands have also launched festive campaigns to revive the positive sentiment in the market.”

Later, Myntra Chief Marketing Officer Harish Narayanan said: "Given the excitement and sentiment of shoppers, as well as the positive and good epidemic prevention situation, we are confident that India's e-commerce festival will have a good sales result. We have witnessed a positive response from shoppers. Among the many results of our marketing efforts, the most recent one is that our customers purchased nearly 4 million products on the opening day and set the highest first-day traffic ever on Myntra. In fact, 20% of customers who shopped at Myntra Big Fashion Festival were using online consumption mode for the first time."

Anurag Murali, Vice President – ​​D2C , High Street Clothing Brands Ltd., stressed: “There is definitely pent-up demand for apparel, especially occasion wear. Our daily website traffic and in-store footfall have already shown a 30% growth and while shopping sentiment is expected to peak this week, these numbers will only go up.”

At present, India's economy is recovering, and residents in second- and third-tier cities are surging in their desire for online consumption. I believe that the Indian market will have a good performance this year, and sellers may be able to make a lot of money.

India

E-commerce