Festive season brings more than a glint of hope not only for the e-commerce players but also for scores of startups. They obviously crave for higher sales volumes and a good spike in revenue that will eventually help them to fulfill their growth ambitions. Every year the festive season of Diwali has traditionally proved to be good from a business perspective for India’s e-commerce industry. However, this time the festive season will coincide with the sober mood cast over by the pandemic shock.
How will the Indians buy online during the festive season this year as the country tries to come out of the pandemic shock? Will it dampen the mood of online shoppers or the pandemic blues will prove to be blessing in disguise for India’s ecommerce industry. To get decisive answers, Redseer Consulting firm conducted a survey and their findings do bring a great sense of optimism.
In a huge sigh of relief, Redseer’s survey found out that more buyers are going to shop online this festive season than the previous year. People’s hesitation in indulging in physical shopping in a quest to outdo coronavirus is probably going to prove to be a boon for the e-commerce industry. Check out the survey’s findings in the below illustrated graph. The below chart clearly shows that more buyers across the region (including tier 1 & tier 2 cities) are bullish about buying online.
In another interesting finding, survey has found out that the fashion is likely to emerge as the most dominant category during the festive season. This will be followed by mobile phones and beauty & personal care. Check out the chart below to know which categories are going to dominate along with the average customer spend.
Buyers have cited various reasons for splurging on these product categories. From improving your wardrobe collection to gifting their loved ones.
Last but not least, sellers across the major portals have expressed bullish sentiment over sales figures. They are expecting sales to spike by nearly 34% this festive season as compared to last year’s festive season. Owing to the bullish sentiment, the survey found out that sellers are willing to spend significantly to offer additional discounts. But the survey has also found out that small sellers don’t share the same bullish sentiment.