• About
  • Contact
Sunday, February 28, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Internet

E-Commerce Retailers Will Celebrate Diwali Worth ₹ 35,000 Crore

Pritish raj by Pritish raj
October 25, 2019
in Internet, Retail
3 min read
0
E-Commerce Channel Retailers- Next Big Brand

E-Commerce Retailers- Next Big Brand

Share on FacebookShare on Twitter
  • According to Bengaluru-based research firm RedSeer Consultancy, Walmart-owned Flipkart and Amazon dominated 90% of the market share as demand rose from smaller cities and towns this year–indicating that consumer spending in the country has only increased despite slowdown fears.
  • Led by Amazon and Flipkart, e-commerce retailers in India achieved a Gross Merchandise Value (GMV) record of $3 billion (nearly Rs 19,000) in the first six days of the September 29-October 4 festive sale.

With the second wave of festive sales coming to an end, industry experts say e-commerce players like Amazon and Walmart-owned Flipkart are set to celebrate a Diwali bumper pocketing over Rs 35,000 crore (nearly $5 billion) despite severe economic gloom in some sectors.

Led by Amazon and Flipkart, e-commerce retailers in India achieved a Gross Merchandise Value (GMV) record of $3 billion (nearly Rs 19,000) in the first six days of the September 29-October 4 festive sale.

According to Bengaluru-based research firm RedSeer Consultancy, Walmart-owned Flipkart and Amazon dominated 90% of the market share as demand rose from smaller cities and towns this year–indicating that consumer spending in the country has only increased despite slowdown fears.

The shift from offline to online spending and a slow first half this October helped to push sales. Online sales, mainly shared by Amazon and Flipkart, are expected to generate up to $6 billion (Rs 39,000 crore) throughout the month of October.

According to Forrester, consumers in Tier 3 are not far from customers in Tier 1 and Tier 2 cities who spend more online during this festive season.

“In this festive season, online buyers in Tier 3 cities should spend more online than last year as they become more comfortable with digital platforms and access to brands and affordable financing options. This is an encouraging sign for online marketplaces that need these customers to buy more frequently and in more categories,” Forrester explained.

In September, as the festive season started, the third-largest e-commerce player Snapdeal recorded 87 million visits on its website.

Snapdeal Sales- Next Big Brand
Snapdeal saw 87 million hits on its website.
Source- Hindustan Times

Snapdeal’s traffic has risen 61 percent on its websites and mobile sites in the last year alone.

“Snapdeal’s growing volumes are built on a sound and granular understanding of the value in Bharat-focused e-commerce. Our ability to build scale along with favorable unit economics gives Snapdeal an enormous competitive advantage,” said Kunal Bahl, CEO, and co-founder, Snapdeal, to IANS.

Snapdeal’s order volumes increased 52 percent over last Diwali in the ongoing Diwali sales and volumes doubled across the country in more than 120 cities, according to the company.

According to Anil Kumar, Founder and CEO of RedSeer Consulting, the first wave of the festive sale event saw a record gross merchandise value (GMV) of nearly $3 billion amid challenging macroclimate, suggesting that online shopping’s consumer sentiment remains bullish.

“The bigger push came from’ Bharat ‘ consumers moving to online shopping led by the good quality offered by online retailers across categories like mobile phones, which showed a strong increase during the sales event,” he said.

During the festive season, digital buyers in Tier 3 cities made a major contribution to spending more online compared to last year as they become more comfortable with e-commerce retailers and gain access to brands and affordable financing options.

“This is an encouraging sign for online marketplaces that need to buy more frequently from these customers in more categories,” Forrester said in his latest report.

Tags: Amazon Great Indian SaleBig Billion Days 2019Festive Season Sale
Previous Post

Everything You Need to Know About Climbing in Bali’s Mount Batur

Next Post

Brick & Mortar Stores Face Dip In sales Due To Rise In Online Shopping

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

future amazon-retail-next-big-brand
News

Delhi High Court Refuses To Restrain Amazon From Writing To Authorities

December 21, 2020
IKEA Navi Mumbai
News

IKEA Navi Mumbai Opens Today With Bookings Full For 2 Weeks

December 18, 2020
Flipkart Aditya Birla Fashion- Next Big Brand
News

Flipkart Is All Set To Acquire 7.8% Stake In Aditya Birla Fashion For ₹1500 Crores

October 23, 2020
Silver Lake Reliance Retail- Next Big Brand
News

Silver Lake In Talks With Reliance Retail To Buy $1 Billion Stake

September 4, 2020
Walmart:- Next Big Brand
News

Walmart Launches Subscription Based Loyalty Program To Counter Amazon

September 2, 2020
Reliance Retail Future Group- Next Big Brand
News

Reliance Retail Buys Retail Biz Of Future Group For ₹ 24,713 crore

August 29, 2020
Next Post
Online Shopping- next Big Brand

Brick & Mortar Stores Face Dip In sales Due To Rise In Online Shopping

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

oyo rooms hotel chain

Indian Hospitality Chain OYO Ready To Set Foot In Philippines

2 years ago
Diving Deep In The Digital Space With Abhishek Duggal aka #Duggi

Diving Deep In The Digital Space With Abhishek Duggal aka #Duggi

1 year ago
snapdeal Customers- Next Big Brand

Snapdeal Clocks All-Time High In Terms Of Customers During Festive Sale

1 year ago
Google India Invest Marketing- Next Big Brand

Google Cuts Down Marketing Budget To Half, Freezes Hiring & Investment

10 months ago

FOLLOW US

  • 28k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Understanding the audio video social media platform with Leher CEO and Co-Founder Vikas Malpani
  • Bounce lays off 80% employees, including senior Officials
  • Coinbase to Go Public via Direct Listing

Instagram

Follow Me!

Latest News

Understanding the audio video social media platform with Leher CEO and Co-Founder Vikas Malpani

Understanding the audio video social media platform with Leher CEO and Co-Founder Vikas Malpani

February 27, 2021
Bounce lays off 80% employees, including senior Officials

Bounce lays off 80% employees, including senior Officials

February 27, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.