India’s e-com transactions this festive season to reach up to ₹1,20,000 cr: Redseer

India’s e-commerce transactions this festive season is expected to reach ₹1,00,000 crore to ₹1,20,000 crore in Gross Merchandise Value (GMV), forecast Redseer Strategy Consultants.

In an analysis released on Monday Redseer said, the season would witness a 20% year-on-year (YoY) growth in sales, fuelled by pent-up demand, and premiumisation of various brands.

As per the analysis, categories that are giving momentum to e-commerce sales this season include mobiles, electronics, and fashion products.

‘’Mobiles and electronics remain key value growth drivers this festive season, especially as consumers respond to affordability options that make premium products more accessible,’‘ said Kushal Bhatnagar, Associate Partner at Redseer Strategy Consultants.

Quick commerce, which saw significant traction in 2023, was set to contribute approximately 8% to overall e-commerce growth in Festive 2024, up from 5% last year, the study said.

Initially focused on grocery deliveries, quick commerce has now expanded into beauty and small electronics, driven by consumers’ increasing demand for fast, on-demand delivery, according to Redseer.

Mr. Bhatnagar further said, newer categories such as home and kitchen appliances (microwave, coffee machine and air fryer) are likely to get pushed aggressively on quick commerce platforms.

Published - September 30, 2024 08:04 pm IST