The Online Shopping Craze:
In recent times, the craze for online shopping news (ऑनलाइन शॉपिंग) has been on the rise among people. Especially during festive seasons and sales, everyone prefers to indulge in online shopping (ऑनलाइन बिक्री). It is expected that during the upcoming festive season, online sales data will see an annual growth of 18-20%, with the sales figures estimated to reach up to ₹90,000 crores, as reported in a recent study.
The Current Scenario
According to market research firm Redseer Consultants, the upcoming festive season could potentially be the most successful season in terms of margins. Redseer predicts that India’s e-tailing industry will generate approximately ₹90,000 crores in the 2023 festive month, which is 18-20% higher than the sales from the previous year’s festive season.
14 Crore People to Shop This Time
The company anticipates that at least 14 crore people, during this festive month, will make at least one online purchase. This staggering number signifies the growing popularity of online shopping in India.
E-commerce Sales Surge During the Festive Season
The increase in the number of online shoppers and the return of the economy to the track after a challenging three-year period are expected to boost e-commerce sales during this festive season.
A Potential ₹5.25 Lakh Crore Business
As per the statement, in 2014, the total Gross Merchandise Value (GMV) of the entire e-commerce industry was ₹27,000 crores. It is expected to reach approximately ₹5.25 lakh crores in 2023. This astounding growth illustrates the exponential expansion of the e-commerce sector in India.
Surge in Electronics Sales
Mrigank Gutgutia, partner at Redseer Strategy Consultants, stated that electronic products sell more during the festive season. Over the past several years, the trend of diversification in the festive sales category has been evident. He noted that this continued trend is expected to contribute to the GMV during this festive season, encompassing fashion, beauty and personal care, home, and other non-electronics categories.
In conclusion, the online shopping trend in India is on an upward trajectory, with the upcoming festive season expected to witness record-breaking online sales. As the economy rebounds, more people are turning to e-commerce for their shopping needs, making it a lucrative market. With a projected GMV of ₹5.25 lakh crores, the e-commerce industry is poised for remarkable growth in the near future .