India’s online shoppers to double this festive season: Redseer Consulting
According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year.
This year’s bonanza sales will gain from the COVID-driven adoption among shoppers from Tier II and III cities, said a RedSeer report. The rise of new models like video- and WhatsApp-based shopping will become mainstream as companies try to serve their clients better
Given the expected festive sales performance, RedSeer estimates e-commerce in India to reach $38 billion (Rs2.8 lakh crore) in sales for all of 2020, up 40 per cent year-over-year.
During the first set of festive sales days, India’s e-commerce sector is expected to clock $4 billion in gross merchandise value (GMV), the Bengaluru-based firm estimates.
Lower value, long-tail categories will do well. Fashion is expected to pick up as activities and social gatherings increase after a lull for almost six months due to the raging pandemic. Home and home furnishings will also do better than previous years due to the high demand for upgrading work-from-home and study-from-home equipment.
