Online shoppers to increase to 70% this festive season: RedSeer Consulting
COVID-induced online adoption will be driving the rise of internet shoppers this festive season. According to a RedSeer analysis, there would be around 70 per cent increase in online shoppers to 45-50 million during October sale this year from 28 million last year’s. The gross merchandise value for marketplaces during the October sale would also grow more than 50 per cent from $2.7 billion last year to $4 billion this year.
Smaller e-commerce players Paytm Mall and ShopClues are looking to increase their share of consumer spending in the coming days. Paytm Mall and Singapore-based e-commerce platform Qoo10-owned ShopClues have announced dates for their 2020 festive season sales – Maha Shopping Festival and Mega Maha Bharat Sale respectively. While Paytm Mall has picked October 16-23 for its festive sale, ShopClues’ sale will be live between October 15-21. Moreover, Snapdeal’s Kum Mein Dum Diwali sale will be hosted from October 16 till October 20.
Paytm Mall said that this year’s sale focusing on MSMEs “would be bigger than ever with over 5,500 brands participating in the event.” Over the past several months, the company said it saw more than 2X growth in sales in segments such as groceries, consumer durables, work from home essentials, grooming electronics, toys, kidswear, etc
