Festive season may see sales growth of 18-20% to $11 billion: report

Ecommerce sales are expected to grow 18-20% to around $11 billion during the upcoming festive season, as per a report by market research firm Redseer. This is higher than the gross merchandise value (GMV) growth seen by ecommerce marketplaces during the first half of the year but less than last year’s festive season sales.

The ecommerce platforms saw a modest increase of about 10% year-on-year from January to July in 2023 compared to the same period in 2022. The festive season sales thus are of significance as companies would try to generate a significant chunk of their sales during this period.