The evolution of India’s e-commerce landscape over the past decade is nothing short of extraordinary. From its modest beginnings to the projected ₹90,000 crore in gross merchandise value for the 10th festive season, this industry has reshaped consumer behaviour, empowered MSMEs, and driven economic growth.
As India’s consumer spending dynamics continue to evolve, e-commerce remains a resilient and integral part of the retail landscape. With diversification, technological advancements, and growing consumer confidence, the future of e-commerce in India holds immense promise. The journey of the past decade serves as a testament to the industry’s adaptability and enduring impact on the Indian economy.
Festive season sales this year are expected to touch ₹90,000 crore in terms of gross merchandise value (GMV), boosted by meaningful global tailwinds, according to a report by Redseer Strategy Consultants. Sales in 2023 will be up 18% to 20% from last year’s festive month sales driven by about 140 million shoppers who are expected to transact online at least once during the season, the report added.
The year 2023 marks the tenth year of e-commerce festive month sales. This year, sales are likely to catalyze consumption demand as the economy emerges from the turbulence of the Covid-19 years, it noted.
“The Indian e-tailing has increasingly become the litmus test for consumer demand in India. The 10th festive season sale period is even more significant this year considering the recent slowdown in consumption and the almost three years of external shocks on the economy,” the report stated.
There are two major tailwinds supporting the growth of e-commerce festive sales in India. The year-on-year growth rates of nominal Private Final Consumption Expenditure (PFCE) in the pre-Covid-19 time used to be around 8% to 9%.
この記事は Beyond Market の September, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Beyond Market の September, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
IMPORTANT JARGON
TRANSITIONING SFBs TO UBs: RBI’s NEW GUIDELINES - The Reserve Bank of India recently issued new guidelines outlining the transition process for Small Finance Banks (SFBs) to become Universal Banks (UBs).
NAVIGATING INDIA'S MARKET WITH HOWARD MARKS
Howard Marks' focus on cycles and capital preservation translates to a defensive strategy for India's frothy market: prioritize cash, target undervalued sectors, and diversify
FINDING A BETTER FIT
Switch health insurers at renewal to keep benefits such as waiting period and bonus, but weigh drawbacks
SILVER SQUEEZE
Green tech boom strains supply, propelling silver as a sustainable investment
A PODCASTING FUTURE
India's podcast scene explodes with formats and listeners, primed for digital growth, with high-quality content reigning supreme
BOUNCING BACK WITH DOMESTIC FOCUS
Despite challenges, India's tyre industry remains optimistic about doubling revenue by 2032
HIGHWAY HICCUPS?
Slowdown in awarding highway projects, driven by industry factors and project complexities, pushes NHAI towards debt reduction and private partnerships for sustainable development
CONTENT CONQUEST
JIOCINEMA'S ULTRA-LOW PLAN SHAKES INDIA'S STREAMING SCENE, AIMING FOR AD REVENUE AND LEVERAGING STRENGTHS TO BECOME A BIG PLAYER
CAUGHT BETWEEN CAUTION AND GROWTH
RBI's draft on project financing seems to be a pre-emptive measure to prevent large defaults on infrastructure loans. However, in their current form, the requirements look onerous for banks
HOT OR HYPE?
India's 2024 IPO market sizzles with investor cash, but will it be a blockbuster or a box office flop? Valuation worries linger