The first week of 2023’s festive season sale which concluded on October 15 saw on-line platforms clocking a gross merchandise worth (GMV) of ₹47,000 crore, rising at greater than 19% over first week of the 2022 festive season sale, in keeping with information launched by Bengaluru-based Redseer Consulting right here on Friday.
High common promoting value (ASP) objects corresponding to mobiles, electronics, and huge home equipment emerged as the biggest contributor to the sales throughout the first week, driving greater than 67% of the entire sales with premiumisation rising as a key theme in these classes, Redseer stated.
Trends urged that low ASP classes like trend, BPC, and residential, would proceed to develop within the remaining festive season, it forecast.
Flipkart Group continued to say its management in week one of the 2023 festive season sale, additional gaining market share over final 12 months’s sale to succeed in greater than 63% in GMV phrases. In quantity phrases, Meesho retained its second place, gaining market share within the first week to succeed in greater than 25% of the entire orders, up from greater than 21% in 2022.
Redseer’s client survey additionally indicated that within the the rest of the festive season, greater than 55% of the shoppers, who shopped throughout week one, have been planning to make (extra) purchases within the remaining days, with greater than 50% of these shoppers planning to make these purchases in trend, and greater than 25% planning to buy different low ASP class merchandise corresponding to magnificence, private care and residential and residing.
