Ecommerce platforms set to see $7 billion worth sales this festive season

The upcoming online festive season sales are likely to witness 50% growth year-on-year over 2019 owing to the new wave of customers due to Covid-19 pandemic.

Driven by the massive growth in shoppers, the festive sales for the first event is likely to reach $4 billion this year, according to estimates from internet research firm Redseer. The firm expects festive season sales to almost double in the next couple of months to touch $7 billion in terms of gross merchandise value (GMV). During the festive season last year, the total sales were in the order of $3.8 billion in GMV terms.