03 October 2022, Mumbai:
E-commerce sales jumped 35 per cent during the first week of the festive season sales.
The personal care and electronics segments grew 60 per cent from the same period last year. Of that, smartphones accounted for roughly 45 per cent of the sales during September 22 to 25, 2022, thanks to the expected rollout of 5G services in the country.
Categories like fashion, too, drove sales higher. An increased shopper base coming in from non-metro cities definitely provided a boost, even though their average ticket size is lower than that of metro cities. Tier II and III cities drove a bulk of the sales and were forecast to broadly continue at the same pace. Together, Tier II and Tier III constitute almost 60 per cent of the market.
Meesho, a player dominant in the space, ended its sale with about 33.4 million orders, witnessing a 68 per cent growth year on year. Meesho typically has an average order value of around Rs 300.Flipkart added more than four million first-time customers and saw one billion customer visits during its sale which ran from September 22 to 30.
With online shoppers projected to increase to 300 million, India’s e-commerce spending is expected to grow twofold in gross merchandise value by 2025.
