look news india
With the beginning of Shardiya Navratri across the country, such a tremendous storm of festive shopping has been witnessed in the Indian e-commerce market which has destroyed all the previous records of the retail industry. Within the first 48 hours of the start of the sale on major e-commerce platforms like Amazon (Amazon Great Indian Festival), Flipkart Big Billion Days, Meesho, Myntra and Ajio, Indian consumers have placed about 8 to 9 crore orders. This figure is almost 6 times higher than the normal order volume on normal days. According to the latest report of market research and consultancy firm Redseer Strategy Consultants (Redseer), the total gross merchandise value (GMV) has crossed $ 2.5 billion i.e. approximately Rs 24,200 crore in the first two days. About 6 to 6.5 crore consumers from metro cities to small towns and villages of the country have participated enthusiastically in this online Mahasale.
Like every time, the biggest contribution to this record-breaking sales was from the mobile phones and premium smartphones segment. According to the report, mobile phones alone have a share of about 38 to 40 percent in the total sales of Rs 24,200 crore, which comes to around Rs 9,100 crore to Rs 9,600 crore.
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The upgradation of 5G smartphones and huge bank discounts on premium iPhone (Apple iPhone) and Samsung Galaxy series attracted customers a lot.
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There was a huge jump in demand for premium handsets priced above Rs 30,000 compared to last year due to no-cost EMI, exchange offers and cashback deals.
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Customers in Tier-2 and Tier-3 cities also showed tremendous interest in purchasing budget 5G smartphones, which gave a new impetus to the growth of the mobile segment.
Consumer electronics and home appliances emerged as the second largest category after smartphones, accounting for about 25 to 27 per cent (about ₹6,000 crore to ₹6,500 crore) of total sales. The most surprising thing was that in the first two days of the sale, a huge increase of almost 14 times was recorded in the order volume of electronics products as compared to normal days. The demand for work-from-home and gaming led to indiscriminate sales of laptops, tablets and smart TVs. Additionally, due to the festive season and the need for home renovation and modern gadgets, warehouses are working day and night to deliver 4K smart TVs, double-door refrigerators, front-load washing machines and microwave ovens. Smart home devices, air purifiers and robot vacuum cleaners connected to the Internet of Things (IoT) also topped the wishlist of urban buyers this time.
The tradition of dressing up during the festive season has also given tremendous wings to the fashion and lifestyle category. This year, the gross merchandise value (GMV) of the fashion segment has seen a strong growth of 22 to 25 percent year-on-year, contributing about 15 to 18 percent (₹3,630 crore to ₹4,350 crore) to the total sales.
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There was a huge increase in the demand for traditional chaniya choli, silk sarees, kurta-pajama and Indo-western wear for Navratri, Dandiya Nights, Karva Chauth and the upcoming Diwali.
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Platforms like Meesho and Flipkart saw an unprecedented surge in fashion orders coming from Tier-3 and rural India, where affordable and budget-friendly ethnic wear was most in demand.
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In the segments of footwear, handbags, beauty and personal care products, orders were also recorded one and a half times more than the previous festive season.
The biggest feature of this year’s festive sale was that along with traditional e-commerce companies, quick commerce platforms like BlinkIt, Zepto and Instamart also made the competition interesting by providing delivery of festive items, puja materials, gold and silver coins, electronics and gift hampers within 10-15 minutes. Analysts believe that the fast delivery speed and easy return policy have strengthened the confidence of Indian consumers so much that now they prefer to shop at the touch of their fingers at home, avoiding the huge crowd of offline markets, parking shortage and hassle of bargaining. This record sales of Rs 24,200 crore in the first two days is just the beginning; This month-long festive carnival, which runs till Dhanteras and Diwali, is expected to cross the historical figure of Rs 1 lakh crore in total online sales.