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Summary:

Indian e-commerce is expected to generate US$ 12 billion in gross merchandise value (GMV) over the festival season from October to December 2024, up 23% from US$ 9.7 billion in 2023. This growth is driven by demand in the fashion, electronics, beauty, and personal care sectors, as well as an increase in rapid commerce, which is estimated to add US$ 1 billion to GMV. Non-metro areas are expected to account for around 60% of all online festival orders.

 

This year, artificial intelligence-driven shopping recommendations and social media influencers are changing consumer behavior, particularly in fashion and beauty, with 84% of shoppers making purchases based on promotions or influencer endorsements. Notably, 55% of festival season orders are expected from first-time customers. Weekend shoppers account for 27% of overall festival purchases, with 13% on Sundays and 14% on Saturdays. Mr. Saahil Goel, Shiprocket's Managing Director and CEO, emphasized the expanding e-commerce momentum in Tier II and Tier III cities, as well as the US$ 12 billion opportunity for MSMEs.

 

Source: IBEF 

 

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