E-commerce GMV to increase 23% to $12 bn in 2024 festival season: Report

Indian e-commerce is projected to reach $12 billion in gross merchandise value (GMV) in the festival season of October to December 2024 to mark a 23 per cent increase from last year, according to a report by logistics firm Shiprocket.

GMV was $9.7 billion in the same period in 2023. Growth is driven by consumer demand in fashion, electronics, beauty, and personal care, along with a surge in quick commerce, which is expected to contribute $1 billion in GMV.