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<ul><li>Overall online retail gross merchandise value to grow by 30% to reach $68 billion in 2022, predicts a report by <keyword id="14932981" type="General" weightage="50" keywordseo="red-seer-strategy-consultants" source="Orion">Red Seer Strategy Consultants</keyword>. </li><li>Urban Indians in north and central India are more excited about shopping around Diwali than those in <keyword id="6364822" type="General" weightage="50" keywordseo="south" source="Orion">South</keyword> and East India, says a <keyword id="15508" type="General" weightage="80" keywordseo="yougov" source="Orion">YouGov</keyword> survey. </li><li>Shoppers from Tier 2+ cities expected to drive festive sales higher. </li></ul> India’s upcoming festive season is expected to see buoyant sales as consumers give in to the post-pandemic impulse buying and return to the online markets with a vengeance. An uptick in disposable incomes will also bolster the overall mood to spend, experts believe. A report from Bangalore-based Red Seer Strategy Consultants estimates online sales in the festive month starting 24 September to touch $11.8 billion, a 28% jump from the pre-pandemic levels of 2018. In fact, in the first week of the festive season itself, sales are projected to reach $5.9 billion. E-commerce companies have lined up their big online sales starting October, including <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword> Great Indian Festival sale and <keyword id="3113730" type="General" weightage="50" keywordseo="flipkart-big-billion-days" source="Orion">Flipkart Big Billion Days</keyword>, to take advantage of the festival shopping. “Compared to pre-pandemic sales in 2018, the report is projecting a 3x growth in online festive sales GMV (Gross Merchandise Value) this year,” said Red Seer Consultants. The massive growth in festive sales will further push the overall online retail GMV, which stood at $52 billion in 2021, to grow by 30% to reach $68 billion in 2022, according to the report. After the festive season sales, the end-of-season sales that usually happen in July or December make for the next best occasion to shop, followed by New Year and traditional New Years ( such as Pongal, <keyword id="42861" type="General" weightage="50" keywordseo="gudi-padwa" source="Orion">Gudi Padwa</keyword>), Christmas and Eid/ Ramadan. This time around the festive sales are expected to be boosted by post-pandemic revenge shopping and impulse buys. “More than a third (35%) agreed with the statement – I am looking forward to Diwali this year since the rest of the year has been quite dull because of Covid-19,” according to the YouGov Festival Survey <a href="https://business.yougov.com/content/43451-yougovs-diwali-spending-index-shows-highest-ever-s">Report</a> 2022. Over 27% of respondents of YouGov gave “an increase in gross household income from the past year” as another reason for shopping. Spirits high in rural &amp; Tier2+ cities Interestingly, rural India is more pumped up about the approaching festivities but there will be a drop in average spending online, Red Seer Consultants said. About 48% shop more during the festive season, compared to the rest of the year. A majority of these shoppers are from rural India, reveals <keyword id="14932980" type="General" weightage="50" keywordseo="axis-my-india-sep" source="Orion">Axis My India Sep</keyword> CSI Survey 2022. There is an increase in shoppers from Tier 2+ cities (from 42% in 2018 to 60% in 2021) who tend to shop from lower average selling price categories like fashion, home and beauty personal care, reported Red Seer. “We are forecasting 4x growth in the number of online shoppers from 2018. This growth has been driven by accelerated digital adoption and increasing penetration in Tier 2+ cities. We expect this expanded customer base to reflect in higher sales during the festive sales period as well,” said Sanjay Kothari, associate partner, <keyword id="13724596" type="General" weightage="50" keywordseo="redseer-strategy-consultants" source="Orion">Redseer Strategy Consultants</keyword>. Urban Indians in North more excited about festival shopping Urban Indians in north and central India are more excited about shopping around Diwali, followed by residents in West India. Enthusiasm for the festival in South and East India is comparatively lower, reveals YouGov. Navratri/Durga Pooja is the most anticipated shopping event in East and North-east India as compared to other regions. “This is majorly due to increasing awareness of the festive sales among the shoppers, growing reach, targeted selection, and expansion of products within the affordability range for shoppers across city types,” added Kothari. The launch of new e-commerce models such as live/video commerce is further expected to drive the growth of online shoppers during festivities, estimates Red Seer Consultants. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/this-amazon-grant-winning-startup-is-saving-the-environment-one-tote-bag-at-a-time/articleshow/94071570.cms">This Amazon grant winning startup is saving the environment, one tote bag at a time</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indigo-shares-fall-over-4-as-co-founder-rakesh-gangwal-offloads-2000-cr-worth-stake/articleshow/94065345.cms">IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000 cr worth stake</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-onboards-american-apparel-company-bebe-ahead-of-festive-season/articleshow/94023466.cms">Flipkart onboards American apparel company Bebe ahead of festive season</a>

Online festival sales likely to be 28% higher than pre-Covid levels at $11.8 billion: report

<ul><li>Ownership of electric 2-wheelers can result in cost savings to the tune of 20-70% says a Red Seer report. </li><li>Battery performance, charging times, and range are challenges to adoption. </li><li>The government has been the fundamental enabler for the early adoption of EVs with FAME and PLI schemes. </li></ul>Electric 2-wheelers are set to grow at a rapid pace in India, thanks to their popularity among B2B players such as <keyword id="3000688" type="General" weightage="20" keywordseo="food-aggregators" source="Orion">food aggregators</keyword>, and last mile delivery services, according to a report by Redseer Strategy Consultants. Low cost of ownership is also a reason for B2B players to shift to electric vehicles. India is the largest two wheeler market in the world with an estimated 375-400 million two wheelers on the road. Since affordability is the biggest driver of 2-wheeler sales among customers, savings that are brought about by ownership of 2-wheelers are expected to drive growth. According to the report, ownership of electric 2-wheelers can result in anything from 20-70% in cost savings. <cmsannotation type="cmsannotation" annotationid="Going local" comment="subhead2" text="Going local">Going local</cmsannotation> Given the relatively lower barriers to entry, the <keyword id="3333089" type="General" weightage="100" keywordseo="electric-two-wheeler" source="Orion">electric two wheeler</keyword> market has seen hundreds of new players. Most of these players are ‘assemblers’ who import a significant portion of their components and even technology from China and other countries. Given the government’s push for indigenization and original equipment manufacturers or OEMs’ own need to protect from supply shocks, there is room to go for growth in localization too. The report also indicates that consumers will also reward the more integrated and sophisticated players. Not only will such OEMs be able to provide a more cost-effective product but also offer a superior experience that builds on in-house capabilities to improve and innovate, as per Red Seer. According to the PWC report, ‘Winning the EV race through localisation: An India perspective’, the regulatory push has helped initiate the journey towards EV localisation. This is especially true with electric 2-wheelers and manufacturers focusing on localisation to claim Faster Adoption and Manufacturing of Electric Vehicles (FAME)II benefits which provides a 40% subsidy to EV makers on the cost of the vehicles. Yet, there are challenges. Battery performance, charging times, and range remain the primary challenge for both existing electric 2-wheeler users and prospective buyers. While the range of most electric 2-wheelers exceeds the average distance travelled by over 90% of their consumers, ‘range anxiety’ still remains, Red Seer says. Reliable charging infrastructure is needed to build user confidence on electric 2-wheelers as a fully viable mode of transport. “Recent buyers of internal combustion engine (ICE) 2-wheelers have indicated that they will buy an electric 2-wheeler next time if more charging stations and fast charging are ubiquitous,” says Red Seer. The 4A’s: adaptability, awareness, availability, and affordability is a complete approach to persuade consumers to switch to electric 2-wheelers in the coming years. It’s however essential to add that the government has been the fundamental enabler for the early adoption of EVs with FAME and Production-Linked Incentive (PLI) schemes. The Red Seer report says that it’s crucial that the government continues incentivizing the switch to electric 2-wheelers to encourage consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-sbi-life-hdfc-life-among-stocks-in-focus/articleshow/97567830.cms">Sensex, Nifty50 end lower due to sell off in metals, IT stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a>

Last mile deliveries, food aggregators to drive E2W growth says Redseer

<ul><li><keyword id="541988" type="General" weightage="20" keywordseo="snapdeal" source="Orion">Snapdeal</keyword>’s IPO consists of a fresh issue of ₹1,250 crore.</li><li>The company plans to set up offline centers through offline stores and new franchises.</li><li>It also wants to invest and set up new Power Brands, which is owned by the company but manufactured by someone else.</li></ul>Indian ecommerce giant Snapdeal is now looking to set up offline distribution network, the company revealed in its preliminary paperwork for its initial public offering (IPO). Snapdeal’s IPO consists of fresh issue of ₹1,250 crore and offer for sale of over 3 crore equity shares. The company, in the draft red herring prospectus (DRHP), has highlighted that “a successful value ecommerce player with an omni-channel presence will be able to capture shoppers’ mindshare across both online and offline channels.” Value ecommerce brands are companies that offer affordable products. Snapdeal already competes with online-only players the likes of Amazon and Flipkart, but it will enter into competition with offline value retailers like V Mart, Future Retail and D Mart. <div type="image" title="Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion" msid="88408070" hostid="261"></div> As a part of its expansion plan, the company will create distribution channels through offline stores, existing neighbourhood stores as well as new franchises. This will help the company increase the customer’s trust in the brand and allow them to try the product before purchase. According to a Redseer report, the majority of India’s overall value lifestyle retail segment sales happen offline and most of it is unorganised and unbranded. The top 15 offline retailers had a combined annual revenue of approximately $5.5 billion in the fiscal year 2020, which accounted for less than 6% of the overall value lifestyle retail market. “The market is very fragmented, with the top retailers accounting for only a fraction of the overall market,” the management consultancy firm noted, highlighting that there is a large headroom for revenue growth in this segment. Snapdeal, while citing the RedSeer report, also noted that they would not have to worry about delivery reliability, return experience, shipping costs and user interface in the offline value distribution. Snapdeal also wants to invest and set up new Power Brands, where the company owns the intellectual property of the brand but licences to third-party sellers for manufacturing. It already has 13 such power brands, including mens grooming brand MoochWale, watches brand David Miller, healthcare brand 9+ lives. These brands made up for 5.6% of all purchases on Snapdeal between April to September 2021. <div type="image" title="Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion" msid="88408047" hostid="261"></div>SEE ALSO <a href="https://www.businessinsider.in/science/health/news/covishield-vaccine-not-as-effective-after-three-months-so-consider-booster-shot-says-lancet-report/articleshow/88404738.cms" data-type="tilCustomLink">Lancet article makes a case that those who took Covishield vaccine need booster shots</a> <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms" data-type="tilCustomLink">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-valuation-to-deliver-product-in-10-minutes/articleshow/88394937.cms" data-type="tilCustomLink">Two teenage Stanford dropouts have made their startup worth half a billion in 7 months</a>

Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion

<ul><li>After a couple of dull years and a few failures, online grocery in India is back with a bang. </li><li>SoftBank has put in fresh funds in Grofers while Reliance Industries Limited is reportedly looking to buy a majority stake in Grab. </li><li>Swiggy had recently announced its foray into online grocery delivery with Swiggy stores. </li></ul> There was a time when the online grocery vertical had become the hot favourite with major players trying their luck in the game. But soon with failures piling up one over the other, exits were announced. Come 2019 and it seems like it’s going to be the year hyperlocal grocery delivery again. Sector leader BigBasket may become the first unicorn – clock a valuation of $1 billion – of 2019, and food delivery startup Swiggy threw in its hat into groceries with Swiggy Stores. Swiggy, which raised a whopping $1 billion in funding in December, has already piloted the operations in Gurugram and has tied up with <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. However, these startups will be battling the deep pockets of Mukesh Ambani and the Japanese Softbank. Reliance Industries Limited is <a href="https://timesofindia.indiatimes.com/business/india-business/ril-in-talks-for-majority-stake-in-startup-grab/articleshow/68192744.cms">reportedly</a> in talks to buy a majority stake in Grab, a hyperlocal delivery startup for groceries, medicines and food based out of Mumbai. Grofers has raised <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-raises-fresh-funds-from-existing-investor-softbank-as-e-grocers-valuation-hits-425m/68203728">fresh funds</a> from SoftBank Vision Fund (the Japanese firm had earlier too invested in the e-grocery company) which takes its valuation to $425 million. This excitement was missing in the space the last few years. E-grocery startup PepperTap had to shut its operations in 2016. In a blog on <a href="https://yourstory.com/2016/04/peppertap-journey-navneet-singh">YourStory</a>, Navneet Singh, founder of PepperTap, wrote about the problem they faced. “The integration of our app with our partner stores was not great. In the race to pepper the whole country with PepperTap, we had brought too many stores online far too quickly,” he wrote. Another unicorn startup Paytm too had explored the e-grocery space with Paytm Zip, only to shut shop in 2015. So, even with clear failures in the past, what makes today’s unicorns still find their way into the space? A simple answer - the demand still exists. Grocery stores aren’t called convenience stores for nothing. For today’s millennial who is busy with work to order groceries on a tap is an easy, convenient way out. A report on the online grocery space in India by Red Seer consulting states, “Inspite of all these disruptions and changes, one thing that did not change was the massive potential for online grocery- as indicated by India’s USD 500+ Bn grocery market out of which a mere 0.2% is online (~USD 1.2 bn overall and ~USD 1 Bn considering only hyperlocal grocery).” The proof that it still works is seen in BigBasket’s <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbaskets-wholesale-unit-revenue-up-35/articleshow/67358734.cms">revenue</a> report. In the year 2017-18, BigBasket saw its revenue grow by 35% while losses dropped by 53%. In FY19, the company expects the revenue to grow by <a href="https://www.moneycontrol.com/news/business/companies/bigbasket-chief-hari-menon-expects-75-revenue-jump-in-fy19-to-rs-3500-crore-3183251.html">75%</a>. Grofers which had posted a net loss of <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-narrows-loss-to-rs-258-cr-as-sales-double-in-fy2018/68105608">₹268 crore</a> in FY 17, managed to post a loss of ₹258 crore in FY18. The company has also added <a href="https://www.moneycontrol.com/news/business/grofers-eyes-rs-2500-crore-revenue-in-fy19-adds-2-5-lakh-new-customers-in-january-3453911.html">2.5 lakh</a> new customers in January, while also aiming for a revenue of over ₹2500 crore. And with big backers like Mukesh Ambani and Softbank entering the fray, the competition, too, will be intense. The battle for dominance may mean more discounts and cashbacks for consumers. See Also: <a href="https://www.businessinsider.in/swiggy-in-talks-to-acquire-ubereats-india-operations/articleshow/68110377.cms">Swiggy wants more on its plate, in talks to acquire Ubereats India</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a> <a href="https://www.businessinsider.in/these-are-the-25-most-sought-after-startups-in-india-report/articleshow/65866420.cms">These are the 25 most sought after startups in India: Report</a>

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Online festival sales likely to be 28% higher than pre-Covid levels at $11.8 billion: report

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Last mile deliveries, food aggregators to drive E2W growth says Redseer

Anagh Pal

Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion

Kritti Bhalla

Online grocers are back in business in India with billions more to burn – and that may be good for consumers

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