RedSeer: E-comm Companies Generated Sales Of $2.7 Billion

RedSeer: E-commerce companies have generated sales of $2.7 billion in the first four days of festive sales.

Consulting firm RedSeer said on Saturday that e-commerce companies have generated sales of $2.7 billion (over Rs 20,000 crore) in the first four days of the festive sale.

This figure also includes sales of grocery companies.

Redseer had last month said that during the first week of the festive sale, gross sales from the online platform will grow by 30 percent and reach $ 4.8 billion (over Rs 36,000 crore).

“In the first week of October (October 2-5), e-commerce platforms generated sales of around $2.7 billion in the ‘Mid-Festive Check-in’ report released by RedSeer.

This figure stood at $4.8 billion. We are well on track to meet RedSeer’s estimate of achieving gross merchandise value.”

The consultancy company in its report said that in the calendar year 2020, sales in the first four days of the festive week accounted for 63 percent of the total sales of the festive week.

This share stood at 57 percent this year.

During the first four days of sales, the smartphone contributed almost 50 percent to the GMV.

Ujjwal Choudhary, Associate Partner, RedSeer said, “This year’s festive sale is longer (nine days as against seven days) than last year.

Hence, we are seeing that the demand from customers is visible throughout this period and not just restricted to the first few days of the festive season.”

He said that in the first four days, sales of $ 2.7 billion were done through the e-commerce platform. We are expecting another $2.1 billion in sales in the next five days.

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