Shillong, September 15: India is set to witness a surge in online gross merchandise value (GMV) during the festive month, with approximately 140 million shoppers driving the growth. This year’s expected GMV is Rs 90,000 crore, marking an 18-20% increase from the previous year’s festive sales.
As per IANS, this year commemorates the 10th anniversary of e-commerce festive season sales in India. The industry is projected to achieve an annual GMV of Rs 5,25,000 crore for the entire year, as indicated in a report by Redseer Strategy Consultants. Over the past decade, the Indian e-tailing sector has undergone a remarkable transformation, with the annual GMV growing nearly 20-fold.
The 10th festive season sale holds particular significance due to recent consumption slowdowns and economic shocks over the past three years. This resilience underscores consumers’ growing preference for online shopping across various categories, extending beyond electronics.
GMV contributions from non-electronics categories, such as fashion, beauty, personal care, home, and general merchandise, are expected to increase during this festive period. Additionally, rising average selling prices (ASPs) and increased advertising and promotion revenues are poised to make this year’s festive season highly efficient from a margin perspective.
While metros have shown faster growth in recent quarters compared to tier 1 and 2 cities, robust growth is anticipated across all city tiers this festive season.
The adoption of new-age technology solutions like generative AI in various use cases during the sale period is expected to enhance consumer experiences and drive stronger growth momentum.
Overall, India’s e-commerce landscape is evolving, driven by changing consumer behaviors and innovative technologies, promising a thriving festive season ahead.