Festive Season
Sellers expect 15% jump in festive sales this year, ramp up ad spend
Despite modest sales growth on e-commerce platforms recently (only 40 per cent of sellers surveyed reported a 10 per cent increase in current quarter sales), anticipation for a festive sales boost among the sellers is high across categories, according to market intelligence firm Redseer Strategy Consultants.
Akshaya Tritiya may present a pleasant surprise for gold buyers
For the past one week before Akshaya Tritiya, gold price has been holding near Rs 60,000 per 10 gm, down from Rs 61,350 odd levels in MCX. Thus, investors buying the yellow metal on the auspicious occasion of Akshaya Tritiya shall keenly expect prices to drop somewhat for getting a bargain, said Jateen Trivedi, Vice President (Research), LKP Securities.
Estimated 32 lakh weddings till Dec 14 with a trade of Rs 3.75 lakh cr
During this period, around 32 lakh weddings will be solemnised across the country with a massive flow of about Rs 3.75 lakh crore by way of wedding purchasing and obtaining various services in the business being conducted by trading community, as per a survey conducted by the CAIT Research & Trade Development Society.
India sees $5.7 bn worth online festive sales, 56k mobiles sold per hour
Mobile phones continue to lead the market with 41 per cent contribution in gross merchandise value (GMV) and nearly 56,000 mobile handsets were sold every hour, according to the report by market research firm Redseer Strategy Consultants. A whopping 75-80 million shoppers placed orders across all platforms in the first week of festive sales.
Myntra onboards record 1.2 mn new users during its Big Fashion Festival, with 45% of overall visitors from small-town India
As customers shopped in plenty for fashion, beauty and lifestyle products during the event, the 'Myntra Big Fashion Festival' saw over 45 percent of visitors coming from tier 2 and 3 cities. The top non-metro cities during BFF were Guwahati, Bhubaneswar, Dehradun, Jammu, Imphal, Mysore, Siliguri, Udaipur, Cuttack, and Jalandhar.
Ahead of festive season, prices of essential commodities continue to spiral up
As far as wheat is concerned, prices have gone up considerably in the last few months. As per traders at Delhi's wholesale markets, wheat prices have seen a spike crossing a record Rs 2,560 per quintal, due to slower supplies and robust demand.
According to traders, the heat wave led to lower production of wheat this year, impacting the domestic supplies of the agricultural produce.
India sees Rs 24,000 cr worth online festive sales in 4 days, mobiles lead
"We had earlier projected a GMV of $5.9 billion (over Rs 41,000 crore) for the first week of festive sales and as expected, we are on track to achieve this figure," said Sanjay Kothari, Associate Partner, Redseer Strategy Consultants. Nearly 1,100 mobile phones were sold each minute, with a total of Rs 11,000 crore of mobiles sold on large e-commerce players.
Flipkart festive sales witness record 1.6 mn users per second
The number of Flipkart Plus customers using Early Access during the sale also saw a healthy growth as compared to last year's event, according to the company. Categories like laptops, smartwatches and true wireless wearables witnessed the highest demand, while makeup and fragrance category also saw high traction.
Samsung expects 45% sales growth in consumer electronics in festive season
Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India, told IANS that across its consumer electronics portfolio, "we are expecting a growth of 80 per cent in the premium segment". "Consumers are back in stores and the festive buying sentiment along with upgrade trend is at an all-time high. We have doubled our retail investment to enhance the shopping experience of our consumers," he added.
India online festive sales to log 28% increase to reach $11.8 bn
The festive month is generally defined as a period starting from the first sales event and lasting roughly till Diwali week. In the first festive week, the sales are estimated to reach $5.9 billion, projecting a 28 per cent increase from $4.8 billion last year, according to Redseer Strategy Consultants.
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