E-commerce festive sales to touch $11.8 billion: Redseer

E-commerce retailers are expected to garner sales of $11.8 billion in gross merchandise value (GMV) during this year’s festive season, up 28% year-on-year, according to a report by consultancy firm Redseer. The first week of the festival season itself is expected to garner sales of $5.9 billion.

However, the report said that the festive season’s share of annual GMV is dropping, due to increasing frequency of transactions fuelled by sale events throughout the year.