- According to Redseer, there will be a 70% year-on-year increase in online shoppers.
- Reports say that SMBs are expecting to see 100% growth compared to the previous year's festive sale.
- This year festive sales may touch $7 billion in GMV (gross merchandise value) from $3.8 billion in sales compared to the previous year festive sale.
After the COVID-19 lockdown over, E-commerce companies are expecting a big increase in sales in the next two-month festive sales compared to the previous year's sale.
E-commerce companies expect more customers will shop online this year due to the COVID-19 pandemic. Additionally, this festive period like Diwali can double their sales compared to the previous year's festive sales. COVID-19 lockdown led customers to shop online from platforms like Amazon and Flipkart.
Further, eCommerce platforms are also making changes to get more customers on their platform. Earlier this week, Flipkart partnered with Paytm for the payment gateway service. The partnership will lead customers to pay through Paytm on Flipkart while ordering.
Flipkart spokesperson said, "we will integrate this before the festive period so that customers can take full advantage during the festive sale period."
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According to the reports, Direct-to-consumers (D2C) SMBs (small-medium business enterprises) are expecting to see 100% growth during the festive sales compared to the previous year's sale.
According to the Redseer estimation, there will be a 70% year-on-year increase in online shoppers.
Due to COVID-19, Customers are now more comfortable to shop online rather than buying from offline markets. Even the Reliance Retail already launched its e-commerce retail platform that allows customers to buy groceries and other daily needs products online.
E-commerce platforms like Amazon and Flipkart are more focused on electronic products and expect electronic products will be a huge part of this festive sales revenue.
Flipkart spokesperson said, We are more focused on delivering the products more safely and securely to the customer and will continue to invest in these measures.
"The e-commerce market is booming in India, especially as more people continue to join the digital bandwagon from tier 2 and tier 3 cities," said Saahil Goel, Co-Founder, and CEO of Shiprocket -- a logistics platform for small and medium businesses (SMBs).
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