Online festive sales to be bigger than last year: People to buy 50% more, beat coronavirus blues

While the coronavirus pandemic has affected businesses and consumer retail has also been one of the sectors to face the blues, it is expected that online sales ahead of and during festival season will beat the gloom. In fact, sales via e-commerce will be even grander than last year, according to a report. “RedSeer anticipates the festive sales for the first event to grow 50% on-year over CY19,” according to RedSeer’s Online Festive Forecast Report 2020. Thanks to the expected strong performance this year, e-commerce sales are likely to touch $38 billion, reporting 40% on-year growth.