This is a 30 per cent growth compared with $3.7 billion in the corresponding festive week in 2020. E-commerce platforms have garnered $2.7 billion in gross merchandise value (GMV) in the first four days (October 2 to 5) of festive season sales, according to estimates of Bangalore-based Redseer Consulting. Smartphones have contributed to 50 per cent of the GMV in these four days of sales. Typically Amazon holds its ‘Great Indian Festival’ and Flipkart holds its ‘Big Billion Day Sale’ at the beginning of its festive sales. Buy now and pay later is an emerging trend which is likely to account for around 10-15 per cent of the festive sales.

Source: The Telegraph October 09, 2021 19:52 UTC