After bumpy 3 qtrs, online sellers expect to see 15% rise in festive sales

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After a rocky first three quarters of 2023, online sellers expect to see at least a 15 per cent jump in festive sales year-on-year, according to a report by Redseer Strategy Consultants that underlined market readiness and bullish sentiments for a profitable festive season up ahead.

The latest report of Redseer which surveyed a few hundred sellers (primarily the smaller sellers) prior to the festive sales 2023, said anticipation for a festive sales boost among the sellers is "high across categories".

"After a rocky first three quarters of the year CY23, online sellers expect at least a 15 per cent jump in festive sales year on year," Redseer said in a release.

The findings revealed that despite modest sales growth on e-commerce platforms recently, anticipation for a festive sales boost amongst the sellers is high.

Sellers expect a minimum 15 per cent online sales growth compared to last year's festive event, with the median growth figure of 26 per cent sales increase expected.

E-Commerce platforms are tailoring solutions to meet the optimism of sellers and as a consequence of which, seller perceptions around support provided by eTailing platforms have seen an uptick.

"Through our surveys, sellers have highlighted the strong support received from platforms in terms of data analytics, trends predictions, consumer visibility, among others," it said.

Driven by seller bullishness, they are expected to ramp up their ad spendings on the online platforms meaningfully, thus creating the right sales impact for themselves and also benefiting the platforms.

"The festive period is expected to enable sellers especially the smaller ones to come out of the challenging sales environment seen through this and sellers are optimistic of strong sales growth," Mrigank Gutgutia, Partner at Redseer Strategy Consultants said.