India saw sales worth Rs 76,000 cr in festive month: Report

New Delhi: India saw robust online sales worth Rs 76,000 crore in the festive month from September 22 and October 23, a 25 per cent year-on-year (YoY) growth.

According to Bengaluru-based Redseer Strategy Consultants, the tier 2 and above cities drove this growth and contributed 57 per cent of festive GMV (gross merchandise value).

The growth was largely driven by the fashion category, led by unbranded fashion.

“While mobiles and electronics continue to dominate category share, home & kitchen, groceries and beauty personal care were the fastest growing categories. Grocery grew almost 2X from last festive season,” said Sanjay Kothari, Associate Partner, Redseer Strategy Consultants.

Festive Sales have largely become a tier 2 and above phenomenon with 64 per cent of transacting shoppers coming from those cities.

Within beauty, makeup was the most sought-after category with a lot of interest in looking and feeling good, the report mentioned.

In home furnishing and decor, cushion covers, showpiece and decor accents contributed most to the growth.

“Three in four sellers we surveyed reported at least 2X volume growth from business as usual (BAU) during sale days, with strong support from platforms in planning and executing the festive season well. This increase was more visible in lower ASP categories like fashion where 42 per cent of the sellers reported a 3X to 5X growth from BAU,” Kothari said.

Offline retail stores saw robust footfalls during Diwali this year, which is also evidenced by growth seen from movements in Google Mobility Index.

-IANS

Amazon now shuts wholesale distribution business in India

New Delhi: Amid an exercise to wind up certain verticals as part of global exercise to cut costs, Amazon on Monday announced to shut down its wholesale distribution business in India....

10 major trade unions boycott pre-budget meeting with Sitharaman

New Delhi: Ten major trade unions of the country, including the AITUC, INTUC, CITU, HMS, LPF, SEWA and AIUTUC among others, on Monday boycotted their pre-budget consultations with Union Finance Minister...

With no signs yet of inflation cooling, experts predict more rate hikes

New Delhi: The Reserve Bank of India (RBI), during the last meeting of its monetary policy committee (MPC) on September 30, had hiked repo rates by 50 basis points for the...

Trade unions seek hike in budget allocation for MGNREGA, higher tax on corporates

New Delhi: Trade unions have urged Finance Minister Nirmala Sitharaman to take measures in the forthcoming Union budget so that the economy can be revitalised. In a letter to her, 10...

India to focus on global good, world welfare as G2O president, says PM

New Delhi : Prime Minister Narendra Modi on Sunday said that India will have to focus on global good and world welfare during its presidency of G20. In his monthly...

Rabi area coverage rises by 24.13L ha over last year

New Delhi: Rabi area coverage this year has increased by 24.13 lakh hectares over last year. Taking stock of the Rabi crops position with senior officials, Agriculture Minister Narendra Singh Tomar...

From Meta to Zomato, how India’s new online review rules will impact industry

New Delhi: With the new Bureau of Indian Standards (BIS) guidelines coming into force to guard customers from fake online reviews of products, tech giants like Meta and Google, along with...

Focus on Indo-Pacific assuming centrality in Indian foreign policy

Multiple forums focusing on the criticality of the Indo-Pacific region reiterate the importance of this region, called the “confluence of the two seas” by former Japanese Prime Minister Shinzo Abe,...

Agriculture Ministry open to pro-farmer changes in Crop Insurance scheme: Official

New Delhi, Nov 24 (IANS) The Ministry of Agriculture is open to making pro-farmer changes in Pradhan Mantri Fasal Bima Yojana (PMFBY) in response to the recent climate crisis and rapid...

Australia clears FTA with India

New Delhi: Australia on Tuesday cleared the free trade agreement (FTA) with India as its Parliament has approved the pact. Taking to Twitter, Australian Prime Minister Anthony Albanese said: "BREAKING: Our...

Holiday Inn Gurugram Sector 90 hosts Dastan-E-Frontier Food festival

A journey of culinary history which has influence of Lahore, Rawalpindi, Peshawar reaching as far as the Afghan border region of Baloch with slight touch of Turkish and Arabic cuisine....

Experts optimistic about India’s growth: PM

New Delhi: With rising inflation and the weakening rupee causing concern, even as geopolitical situation remains fluid, Prime Minister Narendra Modi on Tuesday sounded a note of optimism, saying that...

Read Previous

Punjab Cabinet approves implementation of old pension scheme

Read Next

Anoushka Shankar scores two Grammy nominations

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com