The forthcoming festive season in India is set to witness a significant boost in e-commerce, with an estimated online business worth Rs 90,000 crore. This reflects an 18-20% increase compared to the previous year’s festive sales, as reported by Redseer Strategy Consultants. The growth is attributed to a surge in online shoppers and a recovering economy after a challenging three-year period.
Anticipating a Booming Festive E-commerce Season
Electronic goods sales are expected to rise during festivals, showcasing a promising trend across diverse consumer categories. Over the past decade, Indian e-tailing has undergone a massive transformation, with the annual GMV of the e-tailing industry growing nearly 20 times.
This year’s festive season holds exceptional significance due to the recent consumption slowdown and three years of economic shocks. Direct-to-consumer (D2C) brands are projected to outpace the broader e-tailing market, growing 1.6 times faster. Metro cities have shown rapid growth, surpassing Tier 1 and 2 cities, indicating a promising festive season across all regions.
