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Flipkart group leads ecommerce festive sale, Meesho is second largest contributor in order volume: Redseer

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  • India’s e-commerce platforms achieved $5.7 billion in online retail sales during its first festive week.
  • In total, 75-80 million shoppers placed orders through e-commerce platforms.
  • Flipkart group led online retail sales in terms of GMV with Amazon in second place.
  • During the sales period, more than 56,000 mobile phones were sold per hour, representing ~41% of the gross value of the merchandise.

flip card Group remains the e-commerce festival sales leader in India with a 62% market share in gross merchandise value (GMV), based on data from its first week of sales, according to
Redseer’s Ecommerce Festive Season ’22 Report. Amazon came in second with a market share of 26% in terms of GMV.

GMV refers to the total value of items sold.

Flipkart was also a leader in terms of order volumes, Meesho emerged as the second largest, capturing 21% of the market, the report said red seera strategic consultancy.

From
reportse-commerce player Amazon India has termed the Redseer report on holiday sales as “speculative without transparency,” while the consultancy has defended it as an independent investigation.

India’s e-commerce industry achieved $5.7 billion in online retail sales this year during the first week of festive sales, i.e. September 22 to 30, which is a 27% year-over-year growth (for the first week of the sale). Ecommerce platforms in India usually have three big sales for Diwali in India.

The Festive Sale Week 1 included sales events held by all online retail platforms between September 22 and 30. And for platforms that did not have a sale on any of these dates, the report had taken into account business as usual (BAU) order volumes.

“Flipkart group (Flipkart, Myntra and Stores) maintains its leading position with a market share of 62% in GMV during the festive sales week 1. In terms of order volumes, Meesho, with its low AOV (average order value) and high penetration in Tier-2 cities, emerged as the second largest player capturing 21% of the market share while Flipkart Group is also in the lead here,” Sanjay Kothariassociate partner, Redseer Strategy Consultants said.

A total of 75-80 million shoppers placed orders through ecommerce platforms during the first week of the holiday season, according to the Redseer report.

During the above period, more than 56,000 mobile phones were sold per hour. Mobile contributed to about 41% of the GMV. Fashion contributed 20% of gross trade value, which was 48% higher than last year’s holiday season.

White goods (large appliances) are expected to gain momentum after the slower start, Redseer revealed.

The number of shoppers grew 24% year-over-year during the first week of sales, with more than 65% of shoppers coming from tier 2 cities. Spending per online shopper also increased by 3%.

“Consumption, especially in Tier 2+ cities, generally takes place closer to the festivities. While the start of the last quarter was slow in terms of demand, we saw a good increase in consumer confidence and consumption patterns in late August/September. This is expected to further lead to a recovery in demand ahead of Diwali,” said Redseer.

Spending on fashion, beauty and home decor is expected to rise further as consumers look to upgrade their homes and lifestyles, especially to welcome guests, Redseer estimates.

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