According to the paper, "We project the 2023 holiday season GMV (gross merchandise value) to be around Rs 90,000 crore for the entire holiday month for India e-tailing, up 18-20% from last year's holiday month sales. "This will be driven by about 140 million shoppers who are expected to be transacting online at least once during this festive month."
This is the 10th year of the festive season sales for online retailers in India. The first ever Indian e-tailing festive season sales happened in 2014. Over these 10 years, Indian e-tailing has transformed almost entirely as the annual GMV (gross merchandise value) for overall e-tailing industry has grown almost 20 times in the period. In 2014, the industry clocked a GMV of Rs 27,000 crores in the whole year. Redseer said this year (2023) the same is expected to be approximately Rs 5,25,000 crore. In the process, the number of annual transacting users has jumped 15x.
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