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Early trends predict strong festive season sale for e-comm firms
The Business Guardian
|October 11, 2023
The festive season has begun on a positive note for e-commerce firms, with early insights from various industry players suggesting a promising start.
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Analysts at Redseer predicted last month that the gross merchandise value (GMV) of e-commerce companies would grow by 20 percent year-on-year (YoY) to reach Rs 90,000 crore during this festive season. This growth is attributed to the optimistic consumer sentiment and increased marketing spending by smaller sellers.
As anticipated, fashion, electronics, and appliances emerged as the most sought-after categories across platforms. Sales data from just October 7 and 8 revealed a YoY order volume growth of over 15 percent, with further growth expected, according to Unicommerce, a business-to-business (B2B) company that provides software to retailers like Myntra and others.
This story is from the October 11, 2023 edition of The Business Guardian.
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