E-commerce sales seen at Rs 1.2 lakh crore in GMV

Driven by high pent-up demand and the premiumisation wave, e-commerce sales in India are estimated to reach Rs 1 lakh-Rs 1.2 lakh crore in gross merchandise value (GMV) this festive season, according to a report by Redseer Strategy Consultants. This will be a 20% year-on-year growth for the e-commerce sector. Mobiles, electronics and fashion categories are set to gain momentum while other categories have had a better business as usual (BAU) performance and will see an incremental upside, taking their festive growth figure to north of 25%. Moreover, sellers and platforms have the potential to unlock the pent-up demand in the category by optimising pricing and selection. Quick commerce, which saw significant traction in 2023, is set to contribute approximately 8% to overall e-commerce growth, up from 5% last year, as per a report.