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Indians are festive shopping online more than ever 

E-commerce platforms garnered $2.7 billion in sales in just the first four days of festive sale in October  

RedSeer Consulting has forecast that online platforms are expected to clock over $9 billion gross GMV (gross merchandise value) during the entire festive season this year as against $7.4 billion last year.
RedSeer Consulting has forecast that online platforms are expected to clock over $9 billion gross GMV (gross merchandise value) during the entire festive season this year as against $7.4 billion last year. (Unsplash)

E-commerce platform Snapdeal has said its daily order volumes on sales days were more than double of last year, with growth being led by strong performance across multiple categories.

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Snapdeal's 'Toofani Sale' started at the beginning of October and concluded on 31 October with a final weekend sale.

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Also read: Shopping for Diwali? Designers lay out the luxe

"Snapdeal's daily order volumes on sales days were more than double of last year. The growth was led by strong performance across multiple categories. The fashion category witnessed 254% growth in volumes while home and kitchen grew 101% over last year," according to a statement.

Other gainers this year included beauty, and sports and fitness that saw 93% and 53% volume growth, respectively.

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Products from the religious and spirituality category grew 33% over last year's sale, the statement noted.

"Bharat continued to sparkle in Snapdeal's festive season performance. The demand from tier-III cities grew 91% over last year," it added.

The fast-paced adoption of online commerce in Bharat was also visible in how the festive season orders stacked up, it said.

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About 58% of the orders came from tier-III cities, while tier-II and tier-I accounted for 15% and 27% of the order volumes, respectively, it said.

Sellers from tier-II and -III cities also saw a 99% jump in sales orders compared to last year's sale event.

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"The growing popularity of online shopping from smaller cities and towns is an indication of the vast growth potential in Bharat," the company said.

E-commerce platforms, including social commerce and grocery, garnered about $2.7 billion in sales in the first four days of the festive sale (2-5 October) and are on track to achieve the $4.8-billion gross GMV mark, according to consulting firm RedSeer.

RedSeer Consulting has forecast that online platforms are expected to potentially clock over $9 billion gross GMV (gross merchandise value) during the entire festive season this year as against $7.4 billion last year, a growth of 23%. Gross GMV refers to the total value of goods sold on the platform prior to subtracting cancellation or return.

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Companies across the spectrum including Flipkart, Amazon, Snapdeal and Myntra line up new launches and offers to woo shoppers during Dussehra and Diwali. 

Also read: The trick to happy holiday shopping

  • FIRST PUBLISHED
    02.11.2021 | 07:26 AM IST

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