E-commerce companies clock sale of US$ 3.5 billion

In the first four days of the festive season sales that started last week, e-commerce platforms recorded sales of Rs. 24,500 crore (US$ 3.5 billion), driven by demand for mobile phones and fashion items, according to a report by Redseer Strategy Consultants.

In a report evaluating the effectiveness of the first leg of the online sales events, the consulting firm stated that this marked a better-than-expected start to the festive season online sales. The first festive event, according to Redseer, is the first round of holiday sales, which include the Big Billion Day Sale on Flipkart, the Great Indian Festival on Amazon, the Mega Blockbuster Sale on Meesho, and sales on websites like Myntra, Ajio, and Nykaa.

Mobile phones are still doing well, helped by upgrade programmes, fresh launches, and value deals. The average gross merchandise value per day for mobile devices increased by 10 times compared to business on usual days. The major e-commerce businesses sold cell phones for an estimated Rs. 11,000 crore (US$ 1.34 billion) during the course of the first four days.

In the first four days, an estimated 6-7 million mobile phones were sold. According to the report, e-commerce platforms and their partners were able to offer aspirational brands like Apple's iPhone and OnePlus at fair prices.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.