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Fueling an estimated 18-20% growth in the demand and sales this season will be about 14 crore shoppers who are expected to shop at least once in the months to come.
The upcoming festive season is about to get a whole lot cheerful for e-tailers, who are anticipating sales worth Rs 90,000 crores during the later half of 2023. As per a recent report by Redseer, this period, catalyzed by festivals such as Diwali, Dussehra and more, is projected to drive about 17% of the total annual sales of various Indian e-tailers.
Fueling an estimated 18-20% growth in the demand and sales this season will be about 14 crore shoppers who are expected to shop at least once in the months to come. Starting August, prominent online retailers begin rolling out discounts and deals, like Amazon’s great freedom festival sale.
Hearteningly, the highest contribution of about 60% to these online sales comes from small cities, or those ranking after the top 100 Indian cities by population. According to a report by Bain and Company, every 1 in 3 new shoppers added to India’s ever-widening shopper’s base of approximately 22 crore individuals.
However, given that the economy is currently battling an unemployment rate of 7.5%, shoppers would like to scout for deals and compare prices across platforms before hitting checkout. But online retailers are already gearing up, going on a massive hiring spree for temporary workers. For instance, Flipkart announced the creation of 1,00,000 seasonal jobs across its supply chain and delivery hubs to counter the surge of demand during festive seasons.
According to media reports, an estimated 6,00,000 to 7,00,000 temporary jobs are likely to be generated during the upcoming seasons. Roles like that of support staff, delivery executives and warehouse pickers would remain in high demand.
As per Mrigank Gutgutia, partner at Redseer, “Over the last several quarters, we are seeing enhanced GMV (gross merchandise value or platform sales) contributions from categories beyond electronics. Continuing with this trend, we expect increasing GMV contributions from non-electronic categories like fashion, BPC (beauty and personal care), home and general merchandise and more this festive period