Online sales to reach Rs 90,000 crore in festive season: Redseer report – Dainik Savera Times
New Delhi: Online sales are expected to grow by 18-20 per cent year-on-year to reach Rs 90,000 crore during the upcoming festive season. This was said in a report. According to market research firm Redseer Strategy Consultants, the upcoming festive season could potentially be the most successful season ever in terms of margins.
RedSeer said, “We estimate that the GMV (gross merchandise value) of Bharat Etailing’s 2023 festive month will be around Rs 90,000 crore, which is 18-20 percent more than last year’s festive month sales.” According to the company, Nearly 14 crore online shoppers are expected to make at least one online purchase during this festive month. The increase in the number of online shoppers and the recovery of the economy after a “challenging” three-year period E-commerce sales are expected to increase during the festive season this year.
According to the statement, the gross merchandise value (GMV) of the e-commerce industry for the full year in 2014 was Rs 27,000 crore and is expected to be around Rs 5.25 lakh crore in 2023. Mrigank Gutgutia, partner, Redseer Strategy Consultants, said electronic goods sell more during festival times, adding that a comparison of festival sales over the past several years clearly shows the diversification trend in the category. “As this continues, we expect growth in GMV contribution from fashion, beauty & personal care, home and general merchandise and other non-electronics categories this festive period,” he said.
