Ease of Doing Business for MSMEs: E-commerce sellers on marketplaces such as Amazon, Flipkart, and other individuals sold goods worth Rs 32,000 crore for the duration of festive sales this year, up 23 per cent from the preceding year’s sale. The development price, on the other hand, was the second slowest given that the 20 per cent YoY development from 2016 to 2017. The festive sales’ gross merchandise worth (GMV) development price for the following years was 150 per cent (2017-18), 27 per cent (2018-19), and 37 per cent (2019-20), information from the management consultancy firm RedSeer’s most up-to-date report on e-commerce festive sales showed. Over 8.5 lakh Amazon sellers and more than 3.75 lakh Flipkart sellers participated for the duration of the sales this year.
The information was compiled based on sales from October 2 to October 10. The report, citing specialist discussions and RedSeer evaluation, mentioned Flipkart Group emerged as the ‘leader’ for the duration of the festive sales with a 64 per cent GMV share followed by Amazon’s 28 per cent, and 8 per cent by other platforms. The 23 per cent GMV development this year was led by essential themes like a resurgence in style sales whilst the mobile category dominated with 46 per cent GMV share. Purchases from Tier-II cities dominated the sale with about 61 per cent shoppers followed by about 22 per cent from metros, and about 17 per cent from Tier-I cities.
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“The festive season this year has been one that is driven by a larger theme of affordability. Constructs were built carefully by the platforms through BNPL (buy now, pay later) schemes and bank tie-ups as well as seller driven discounts to serve up the most competitive prices of top leading brands and serve the aspiring customer,” mentioned Ujjwal Chaudhry, associate companion at RedSeer Consulting in a statement.
Overall, there was a 1.2X boost in the total quantity of shoppers this year to 62 million from 52 million for the duration of last year’s sale. With the festive season last till new year, the sellers on e-commerce and social commerce platforms are supplying further discounts, for larger sales volume, up to 40 per cent or more further discounts on the back of “a favourable perspective of forecasted volume sales and growth during the upcoming festive season,” RedSeer had mentioned in a current report this month.