During COVID, e-commerce businesses have seen a huge boost in sales due to obvious factors. This is why India’s 2020 festive season has seen a massive growth of sales amounting to $8.3 billion. The sale date ranges between 15th October and 15th November, which is quite a small time frame for such an increase in sales. In 2019, the total sales amounted to $5 billion, which means the increase in net sales was by 65% in 2020.
E-commerce sale increase in 2020
It is obvious that due to covid, most people didn’t go out of their houses to get gifts for their family. And this was the primary factor that drove the sales in the festive season. In September of 2020, the total sales amounted to $3.2 billion which more than doubled during the festive season. The report from RedSeer said that the total sales were divided into various parts or let’s say sections as the different sales progressed.
In the 1st part, the sales were the highest amounting to $4.2 billion, which is more than half of the total gross. While in the 2nd, 3rd, and 4th parts, the sales were $1.2 bn, $1.4 bn and $1.5 bn respectively. Another important thing to note is that 88% of the total sales were on Amazon, Flipkart, and Myntra. At the same time, Flipkart beat Amazon by having a 66% share in the combined sales made by them.
What gave a boost to this year’s sales apart from COVID?
Amazon and Flipkart’s huge discounts were one of the main reason that attracted many new buyers during the 2020 sale. The sales went so well that it even crossed the forecasted amount of $7 billion by almost 20%. It is also necessary to take into account the precautions that these e-commerce sites have taken while delivery. This made new and existing buyers much more comfortable in making their purchase decision.
According to the reports, mobile phones were the most sold items during the sale. And as compared to last year the sale of furniture and home decor increased while sales for fashion decreased. Research also shows that were more customers during this sale because the per-customer spending dropped in 2020.
Did you buy anything for yourself or your family during India’s 2020 festive season sale? Or are you saving for that Goa trip after the pandemic? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.