According to estimations given by Redseer Strategy Consultants, e-commerce companies like Amazon, Flipkart, and Meesho might collectively log sales (gross merchandise value) worth Rs. 100,000–120,000 crore this festive season, translating into a 20 per cent year-over-year gain.
The firm’s researchers predicted that strong pent-up demand and consumers’ willingness to premiumize would drive this demand. This holiday season, quick commerce is predicted to contribute roughly 8 per cent to the growth of e-commerce overall, up from 5 per cent the previous year.
To increase revenue, brands are implementing a multi-channel approach. For example, in order to preserve an air of exclusivity, premium products are exhibited through direct-to-consumer (D2C) internet channels and offline modern trade locations (both multi-brand and exclusive brand).
In order to increase reach and appeal to an aspirational customer base, mid-range products are being advertised across e-commerce marketplaces concurrently, according to researchers.
According to Flipkart, during Early Access and the first day of its yearly seasonal sales, over 33 crore user visits were logged on the platform, with fashion among the categories seeing some of the strongest customer demand. According to Myntra, the first two days saw 120 million users rush to the platform.
For its sellers and brand partners, Amazon stated that the holiday sales have resulted in the largest opening ever. With almost 140 per cent of members shopping during the first 24 hours and making eight times more purchases than they would on an ordinary daily basis, this was the biggest amount of Prime members to ever shop during this time. According to the corporation, Tier-2 and Tier-3 cities showed positive demand for the Amazon Great Indian Festival 2024 in a number of important areas, including fashion. Meesho reported exceeding daily orders by more than three times and experienced a 100 per cent increase in day one orders over the previous year.
