Amazon India declared its 2023 festive sale as the most successful in its 13 years of operations in the country, fueled by robust demand, news agency PTI reported.
According to Redseer Strategy Consultants, the online sales for the entire ecommerce industry during this festive season are anticipated to grow by 18-20 per cent, reaching Rs 90,000 crore.
The initial four days of this year’s festive season sales by etailers exhibited a 16 per cent year-on-year (YoY) growth, achieving a gross merchandise value (GMV) of Rs 29,000 crore.
Reports indicate that the government-supported Open Network for Digital Commerce (ONDC) has also experienced a surge in retail orders, predominantly for food, beverages and groceries during this festive period.
Rural areas and smaller towns demonstrated significant growth, with 80 per cent of Amazon’s orders originating from tier II, III, and IV markets, according to Amazon director (consumer electronics, personal computing, and large appliances) Nishant Sardana said.
Sardana did not disclose the GMV of goods sold. The festive sale on Amazon is set to continue for four more days.
Amazon emphasised that it has increased its capacity and technology interventions to cope with the heightened demand during the sales period.
