India sees record festive sales: RedSeer Consulting

15 November 2021, Mumbai:

In 2021 India witnessed its biggest ever online festive sales, says consulting firm RedSeer. Online festive sales in India continued to grow at a blistering pace and saw a 23 per cent year on year growth in Gross Merchandise Value (GMV). A slew of new launches and easy financing options meant that mobiles continued to remain the most widely-sold product category during this time, accounting for more than a third of the total GMV. With hordes of people finally getting to leave their homes after months of lockdown, the fashion category witnessed a resurgence like never before.

Driven by consumers’ desire to refresh their wardrobes, and new innovative business models catering to shoppers in Tier II cities, sales of fashion items via online channels doubled this year. On the other hand, categories that witnessed subdued growth this year included home furnishings, home décor, furnishings and other electronics.

Overall online shopper base grew by 25 per cent compared to last year with 57 per cent of the total shoppers coming from Tier II cities. This meant that this year’s festive sales were dictated by affordability schemes. Rising consumer demand contributed to the growth of overall GMV during the online festive sales. However, e-commerce platforms also took steps to further boost this demand.

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