6.5 million orders, marking an 18% year-on-year growth, according to a report by Redseer. The surge was observed across metros, tier-1 cities, and other Indian cities, indicating a nationwide trend. The peak in orders occurred during dinners and late-night orders, with the gross merchant value reaching 2.5-3 times that of other days.
Pti: Ground Zero 9.0: Flagship Business Event of Redseer concluded successfully with the Launch of Digital Public Infrastructure Report, co-authored by Nandan Nilekani
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Festive Season Sales: Economists point to an easing in inflation and a pickup in wages, especially in the rural countryside, where a majority of India’s population live. Consumer confidence reached a four-year high in September, the latest central bank figures show, while demand for bank loans is hovering near a 12-year high despite interest rate hikes this year.
The 2023 festive season sale in India saw online platforms generating a Gross Merchandise Value (GMV) of Rs 47,000 crore in the first week, a 19% growth compared to the previous year. Despite the majority of the sale period falling during the shradh period, mobiles, electronics, and large appliances accounted for 67% of the GMV. According to Redseer s survey, 30% of consumers who purchased high ASP categories used financing options. In the remaining festive season, over 55% of consumers surveyed plan to make more purchases, with fashion being the top category.