Ecommerce Firms Clock Orders Worth Rs 40,000 Cr During Festive Season: Report
Flipkart Group maintains its leadership position, followed by Meesho. With the conclusion of Festive Sale 1, the online retail platforms have seen a robust 27 per cent year-on-year growth
Estimates suggest growth of 27 per cent for e-commerce firms having clocked Rs 40,000 crore worth of sales, during the recently concluded seven-day festive season sale, a Redseer Strategy Consulting report stated.
Flipkart Group maintains its leadership position, followed by Meesho. "With the conclusion of Festive Sale 1, the online retail platforms have seen a robust 27 per cent year-on-year growth, clocking a sale of 5.7 billion dollars,” the report read.
Analysis of Festive Sale week 1 was conducted which included sale events conducted by all online retail platforms between 22 and 30 September 22 and 30. For platforms having not had a sale during any of these dates, the report considered business as usual order volumes.
Sanjay Kothari, Redseer Strategy Consultants, Associate Partner said, "Mobile as a category continued to lead GMV (gross merchandise value) share, contributing to 41 per cent of the GMV, translating to 56,000 mobiles sold per hour. On the other hand, fashion contributed to 20 per cent of GMV, which grew 48 per cent year-on-year from the last festive season.”
"Flipkart Group (Flipkart, Myntra and Shopsy) continues to maintain its leadership position with 62 per cent market share in GMV during the Festive Sale Week 1. In terms of order volumes, Meesho, with its low average order value and high penetration in Tier-2 cities, emerged as the second largest player capturing around 21 per cent of the market share while Flipkart Group leads here as well," Kothari added.
In terms of transacting shoppers, the number observed a surge of 24 per cent year-on-year with around 65 per cent shoppers coming from Tier 2 cities.
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