By Anjali Sharma
NEW YORK – According to a report issued on Thursday stated the Indian e-commerce is projected to reach $12 billion in gross merchandise value, marked a 23 per cent increase from last year when the GMV was $9.7 billion in the same period in 2023 in the festival season of October to December 2024.
According to a report by logistics firm Shiprocket, growth is driven by consumer demand in fashion, electronics, beauty, and personal care, along with a surge in quick commerce, which is expected to contribute $1 billion in GMV.
Artificial intelligence-based shopping recommendations and social media influencers are shaping consumer behavior this year, particularly in the fashion and beauty categories.
The report said that 84 per cent of consumers made purchases based on promotions or influencer suggestions.
Festival season e-commerce growth is led by digital penetration in Tier-II and Tier-III cities, according to the report.
Fueled by improved internet accessibility, rising disposable incomes and digital literacy beyond Tier-1 cities, almost 60% of online festival orders are expected to originate from non-metro areas.
It recorded over 26.5 million orders during the festive period, contributing to its full-year order volume of 112.5 million.
In terms of customer acquisition, Shiprocket saw a 15 per cent increase in sellers joining the platform during the festive season of 2023.
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