Driven by mega sales events hosted by Amazon and Flipkart, online retailers will notch up cumulative sales of around $6.5 billion in the next four weeks, says RedSeer Consulting.
Amazon and Flipakrt are together expected to rake in sales of about $4.8 billion during the week of October 15-21, the report said.
The RedSeer Consulting report also indicated more consumers are opting to shop online this festive season, as they look to stock up further on grocery, which will double its share to 6 per cent. Other favorite buys will be in categories such as home and furniture as well as appliances, which is expected to account for about 14 per cent of gross sales.
Smartphones are expected to drive 34 per cent of gross sales during this festive period compared to 36 percent last year, while consumer electronics will contribute about 17 per cent, a Forrester report says. However, the highest degrowth will be in the once-popular fashion segment, which is expected to account for just 16 per cent of overall sales compared to 24 per cent last year. In its survey, RedSeer reported 91 per cent respondents saying they’d shop online, versus 87 per cent last year.