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%.
This story is from the September, 2023 edition of Beyond Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September, 2023 edition of Beyond Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Young Or Old? Find Your Ideal Health Plan
Age doesn't define you: find your ideal health coverage at any stage! Choose individual or family plans that fit your needs
IMPORTANT JARGON
The phase-wise voting in India for general elections began on 19th April.
BACK IN BUSINESS
Buoyed by post-pandemic travel trends and rising disposable incomes, India's hotel industry is expected to maintain its growth momentum, going forward
SCOOPING UP SUCCESS
Investments are hot, but innovation and competition are the next scoops to conquer for ice cream companies
DIG DEEPER
Investors chasing high-growth should prioritize near-term EPS explosion to justify high PE ratios, but also verify long-term business health and management before taking the plunge
SOARING AMBITIONS
Bolstered by cost advantages and government support, India's Electronics Manufacturing Services industry sets its sights on a $100 billion slice of the global market by 2026
TARGET IN SIGHT
Government policies and private sector involvement have propelled India's defence exports to new heights, putting the seemingly ambitious $5 billion target firmly within reach
PLAYING THE LONG GAME
Small and mid-cap surge in India raises regulatory concerns, but long-term investors with risk strategies may benefit from these volatile stocks given positive economic and interest rate forecasts
MAGNIFIED PRESSURE
While the asset quality of banks is anticipated to remain largely stable, challenges persist in the form of mobilizing deposits and peaking profitability
OPPORTUNITY KNOCKS, BUT CHALLENGES AWAIT
INDIA'S BOOMING PE MARKET ATTRACTS INVESTMENTS IN CONSUMER AND INFRASTRUCTURE, BUT CHALLENGES LOOM. CAN FIRMS PRIORITIZE VALUE CREATION TO NAVIGATE THE RISKS?
