India records $5.7 bn worth online festive sales, 56k mobiles sold per hour

The online retail platforms in India clocked $5.7 billion (about Rs 40,000 crore) worth festive sales between September 22 to 30, a robust 27 per cent (year-on-year) growth, a report showed on Thursday. Mobile phones continue to lead the market...

India records $5.7 bn worth online festive sales, 56k mobiles sold per hour

 

 

 

 

 

 

THE online retail platforms in India clocked $5.7 billion (about Rs 40,000 crore) worth festive sales between September 22 to 30, a robust 27 per cent (year-on-year) growth, a report shows.

Mobile phones continue to lead the market with 41 per cent contribution in gross merchandise value (GMV) and nearly 56,000 mobile handsets were sold every hour, according to the report by market research firm Redseer Strategy Consultants.

A whopping 75-80 million shoppers placed orders across all platforms in the first week of festive sales. The shopper base also increased by 24 per cent (on-year) in the first week of the festive sale, with 65 per cent of shoppers coming from Tier 2 and cities.

Flipkart Group (Flipkart, Myntra and Shopsy) continued to lead the market with 62 per cent market share in GMV, while Meesho emerged second largest in terms of order volume (21 per cent of the market share).