Six-day festive sale likely to see total business worth $3.7 billion: Report

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Online retailers are likely to report gross sales of $3.7 billion during this year’s six-day festive sale period, which starts on September 29, a 65 percent growth compared to the previous year. The total sale during the entire festive month is likely to touch $7 billion, research firm Redseer said in a report on September 26.

Instead of mobile phones, this year, consumer electronics and fashion categories are expected to drive this growth with new categories like furniture to emerge strongly, the report added.

According to Redseer, in 2018, 29 percent of the respondents said they will be purchasing mobile phones, which was followed by fashion and then consumer electronics. On the other hand, this year, around 40 percent of respondents have said they will purchase consumer electronics which will be followed by fashion and then mobile phones.

Earlier this week, Moneycontrol had reported that mobile phones are likely to see a muted response in terms of gross merchandise contribution this sale season.

There will also be a spurt in the number of online shoppers during the said period, which is expected to rise 60 percent year-on-year to 32 million.

The etailers are expected to see a seven-fold GMV spike on the festive sale days against the six fold increase witnessed last year.

The number of transactions is likely to hit 75 million over the six-day period against 45 million in 2018.

The report also said that the customer base is likely to increase owing to shoppers tier 2-3 cities who will likely be attracted to the vernacular interface of platforms, wider selection and credit availability.

[“source=moneycontrol”]