Indian e-commerce sector to lose USD 600 million in next two weeks: Market research firm Forrester

BENGALURU: The 21-day lockdown announced by the Indian government to prevent the spread of coronavirus will cost the country’s e-commerce sector nearly USD 600 million in the next two weeks, according to market research firm Forrester.

There has been a loss of nearly $400 million over the past one week due to the slump in overall sales, especially after the government barred the retail and e-commerce industries from selling non-essential products. The slump in sales of products under non-essential categories — such as large appliances, smartphones, consumer electronics and fashion — which constitutes 70 per cent of the e-commerce sector in India, is likely to hit the industry in a big way.