E-commerce firms sell goods worth $4.1 bn in first week of festive sale

E-commerce firms reported a 55 per cent jump in sale goods to $4.1 billion (~29,000 crore) across platforms during the first week (October 15-21) of festive sales, research firm RedSeer said on Tuesday.

RedSeer, in its report, said the comparative number stood at $2.7 billion last year. RedSeer in its pre-festive sale had forecasted that platforms will clock $4 billion worth of sales.

Smartphones led the sale accounting for 47 per cent of total festive sales, driven by new launches and affordable models with Rs 1.5 crore worth of smartphones being sold every minute across the online platforms in the first week of 2020’s festive sales.