E-commerce retail sales reached 24,000 crore rupees in two days; venture funding declines due to lack of major deals

According to the consulting firm Redseer Strategy Consultants, e-commerce retailers realized goods worth approximately 24,000 crore rupees during the first two days of the holiday sales season. This growth is attributed to an increase in order volumes, with mobile phones accounting for the largest share by value.

The consulting company calculated that customers placed about 8-9 crore orders across all platforms, including Amazon, Flipkart, Meesho, and Ajio, as well as many other marketplaces.

Nikhil Dalal, a partner at Redseer Strategy Consultants, told PTI that the first two days demonstrated the expansion of the Indian e-commerce shopping basket. The growth is stimulated by the increase in the number of orders, as consumers are allocating their spending not only on mobile devices but also on clothing, electronics, and home appliances.

He noted that 'fashion products occupied a significant place, as buyers from second-tier cities and smaller towns purchased festive clothing at affordable prices.' In the first two days, the total Gross Merchandise Value (GMV) exceeded 2.5 billion US dollars (close to 24,200 crore rupees), and about 60-65 million customers participated in the sale.

The firm reported that the GMV growth was approximately six times higher than the daily average during normal times. Players like Amazon and Flipkart actively utilize their quick delivery divisions for sales, increasing their significance on the platform, where GMV was 4-5 times higher than the average daily figure during normal times.

According to estimates, sales of large home appliances and electronics grew faster than the market, even though mobile phones remained the largest category by value. Mobile phones accounted for an estimated 38-40 percent or approximately 9,100-9,600 crore rupees of the total sales volume.

Redseer forecasts that the share of consumer electronics in total sales will be around 25-27 percent, or 6,000-6,500 crore rupees, and the share of fashion products will be in the range of 15-18 percent, or about 3,630-4,350 crore rupees. Together with televisions, large home appliances and electronics accounted for approximately 25-27 percent of the GMV.

Televisions, refrigerators, and air conditioners made up more than two-thirds of large home appliance sales. 55-inch screen TV models from TCL, LG, Samsung, and Xiaomi represented over 75 percent of the best-selling TV models.

Redseer estimates that by the first half of 2026, electronics sales have already grown by more than 20 percent, partly because consumers were making purchases in advance anticipating price increases in the second half of 2026.

The first two days of holiday sales registered an average of 14 times more orders than usual, with laptops and Internet of Things (IoT) devices leading the electronics category. GMV in the fashion segment grew by 22-25 percent year-on-year in the first two days, capturing 15-18 percent of the total GMV and reaching 3-5 times the average GMV during normal times.

Redseer estimates that Generation Z comprised about one-third of the customers on the first day. Of approximately 6-6.5 crore customers who made purchases in the first two days, Redseer believes that about two-thirds came from second-tier cities and rural areas. Approximately 15-16 crore unique customers typically make transactions on e-commerce platforms in a normal month. As Dalal noted, 'Thus, the first two days attracted more than a third of this monthly customer base to the holiday sale. The number of first-time buyers doubled compared to last year. We expect 100 million customers to shop during the entire 11-day first phase.'