India sees Rs. 29,000 Cr GMV sale in first four days of festive season: Report

We know that the sale seasons everywhere around the world are very special because while we know that people shop on e-commerce all over the year, it is something special to see the people come together and shop whatever they want in the discount season due to the biggest discounts they get on their favorite products that they have been eyeing for the entire year. It is seen that the discounted sales started in the US every year around the end of November which is called the Black Friday and Cyber Monday sale but we have seen that the entire month of November can now be seen as a sale season in the US.

This is the case with other parts of the world as well as we have noted that discount trackers show that such massive discounts are now seen in many times every year rather than just once. It is also noted that the sale season in India just started as the biggest festivals of the year are approaching. E-commerce platforms like Amazon, Flipkart, Myntra, Ajio and others have all started giving discounts. People have started shopping a lot during these sales and we have a new report regarding the size of sales seen across platforms during this time.

A new report from RedSeer notes that “The first four days of the festive season sales in India have witnessed a gross merchandise value (GMV) of Rs 29,000 crore—a growth of 16% compared to last year” and also added that The growth was driven by consumers’ need for premiumisation and the fear of missing out (FOMO). It was also mentioned that “Premiumisation as a theme is clearly being seen in this festive season as consumer discretionary spending in high ticket categories has done well. Further, the steady growth in overall sales and high ASP categories reinforces the belief in the strength of the Indian consumption story”. Redseer noted that “With the pre-book/price-lock feature, platforms will also be able to gauge demand better prior to the sale period, which is likely to result in higher fulfilment rates and enable ecommerce platforms to commit to faster deliveries, improving customer experience and leading to reduced cancellations and improved supply chain economics”

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