Bengaluru
India’s e-commerce sector is projected to hit ₹1 lakh to ₹1.2 lakh crore in gross merchandise value (GMV) during the festive season, driven by high demand and premiumisation trends, according to a report by Redseer Strategy Consultants. This represents a 20% year-on-year growth for the industry.
The report highlights that key categories like mobiles, electronics, and fashion are expected to see significant momentum, while beauty, personal care, home goods, and grocery are already performing well and could see over 25% growth during the festive period.
Kushal Bhatnagar, Associate Partner at Redseer, noted that affordability options for premium products in mobiles and electronics will drive consumer interest this season. Sellers and platforms are expected to optimise pricing and selection to unlock pent-up demand.
E-commerce platforms are increasingly targeting aspirational customers, especially in tier 2 cities and beyond, by offering discounts and special offers. Brands are pushing premium products at discounted rates to encourage higher spending.
Quick commerce, which gained significant traction in 2023, is anticipated to contribute about 8% to overall e-commerce growth, up from 5% last year. Categories such as home and kitchen appliances are expected to be aggressively promoted on these platforms, helping to boost average order values and profitability.
