E-COMMERCE SALES JUMPED 35% year-on-year (yo-y) during the first week of the festive season sales led by growth in the personal care and electronics segment, which reported growth of over 60% from the same period last year, Unicommerce said on Sunday.
Analysts at Redseer had earlier predicted the gross merchandise value (GMV) of eCommerce companies to touch $5.9 billion. Of this, 60% had already been achieved between September 22-25, highlighting that the festive season was even "better than anticipated" on the back of robust demand. Overall, the GMV of the companies this festive season, which is usually a series of sales between September and October, was expected to jump 28% y-o-y to $11.8 billion.
Of that, smartphones accounted for roughly 45% of the sales during September 2225, thanks to the expected rollout of 5G services in the country. Categories like fashion, too, drove sales higher.
This story is from the October 03, 2022 edition of Financial Express Mumbai.
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This story is from the October 03, 2022 edition of Financial Express Mumbai.
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