E-commerce firms to clock Rs 51K cr sales this festive season

E-commerce companies are set to witness close to 85% year-on-year growth in festive season sales this year owing to the new wave of customers shopping online due to the Covid-19 pandemic.

Driven by the massive growth in shoppers, online sales during the festive months of Dasara and Diwali are likely to witness gross merchandise value (GMV) of $7 billion (over Rs 51,000 crore). During the same period last year, the sales stood at $3.8 billion. However, during the first sale of the upcoming season, online marketplaces like Amazon and Flipkart among others are set to rake in $4 billion (Rs 29,000 crore). This is a growth of 50% over $2.7 billion (Rs 19,828 crore according to the current rate) worth of sales witnessed last year, according to data available with RedSeer, an internet research firm.