Connect with us

Headlines Of The Day

Festive season sale volumes more than double from last year

E-commerce platform Snapdeal on Monday said its daily order volumes on sales days were more than double of last year, with growth being led by strong performance across multiple categories.

Snapdeal’s ‘Toofani Sale’ started at the beginning of October and concluded on October 31 with a final weekend sale.

“Snapdeal’s daily order volumes on sales days were more than double of last year. The growth was led by strong performance across multiple categories. The fashion category witnessed 254 per cent growth in volumes while home and kitchen grew 101 per cent over last year,” according to a statement.

Other gainers this year included beauty, and sports and fitness that saw 93 per cent and 53 per cent volume growth, respectively.

Products from the religious and spirituality category grew 33 per cent over last year’s sale, the statement noted.

“Bharat continued to sparkle in Snapdeal’s festive season performance. The demand from tier-III cities grew 91 per cent over last year,” it added.

The fast-paced adoption of online commerce in ‘Bharat’ was also visible in how the festive season orders stacked up, it said.

About 58 per cent of the orders came from tier-III cities, while tier-II and tier-I accounted for 15 per cent and 27 per cent of the order volumes, respectively, it said.

Sellers from tier-II and -III cities also saw a 99 per cent jump in sales orders compared to last year’s sale event.

“The growing popularity of online shopping from smaller cities and towns is an indication of the vast growth potential in Bharat. With a sharp focus on both quality and price, Snapdeal’s value e-commerce proposition is well-positioned to serve these requirements,” the company said.

E-commerce platforms, including social commerce and grocery, garnered about USD 2.7 billion in sales in the first four days of the festive sale (October 2-5) and are on track to achieve the USD 4.8-billion gross GMV mark, according to consulting firm RedSeer.

RedSeer Consulting has forecast that online platforms are expected to potentially clock over USD 9 billion gross GMV (gross merchandise value) during the entire festive season this year as against USD 7.4 billion last year, a growth of 23 per cent.

Gross GMV refers to the total value of goods sold on the platform prior to subtracting cancellation or return.

Companies across the spectrum including Flipkart, Amazon, Snapdeal and Myntra line up new launches and offers to woo shoppers during Dussehra and Diwali. PTI


Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2022 TV Veopar Journal