E-commerce platforms, including social commerce and grocery, garnered nearly $2.7 billion in sales in the first four days of the festive sales, according to data from consulting firm Redseer.
Smartphones contributed nearly 50 percent of the gross merchandise value (GMV) during the first four days of sales, as per the report.
Ujjwal Chaudhry, associate partner at RedSeer said, “With the festive sales lasting longer than last year (9 days compared to 7 days), we are observing the customer demand being more spread out across the period than being concentrated in the first half of the Festive week.
To that tune, we have observed sales of nearly $2.7 billion across E-commerce platforms and we expect another further nearly $2.1 billion over the next five days.”
RedSeer had earlier said the platforms will clock over $9 billion GMV during the festive season, which is a growth of 23 percent year on year.
The report estimates over 75 percent of customers are planning to buy equivalent to or more than last year across categories like mobiles, large appliances, beauty and fashion.
(Edited by : Yashi Gupta)