Sales are likely to cross $4.5 billion in the festive season offer of online retails
A big spike in online retail sales due to festive offers of giant companies like Amazon and Flipkart. The total sales are expected to cross the $4.5 billion mark as estimated by a consultancy firm Forrester. These sales include a big contribution of around $1.7 billion and thus avoiding the effect of COVID-19, the sales are 20 percent higher than that of last year.
“Online retail sales have been in line with our expectations, and in the first week, sales have been between $4.5 billion and $4.8 billion,” said Satish Meena, senior forecast analyst at Forrester. The firm estimated that the total sales for the festive month would be over $6.5 billion and smartphones and other electronic items will contribute around 50 percent to this amount.
“TVs were the main category to be impacted, and some large appliances were also not available in a few small towns, as per our data. In previous years, there would usually be some issue about logistics, but this year, the issue was about product availability among some brands,” Meena added.
“The first few days of this year’s online sale season saw a more explosive start vs last year. The key themes driving this year’s sale were affordability, smartphones, and tier 2 growth resulting in more recovery for brands and sellers,” the firm said in a report.