Diwali online sales may touch $7 bn |
Even as Indian capital markets are going up and down amid slowdown in number of global economies, India`s e-commerce market is hoping to have its festive splash in October. The festive month, which includes Puja and Diwali, is expected to see e-commerce sales of $7 billion. The six-day sales around Puja itself could garner sales of $3.7 billion. The gross sales revenue of $7 billion expected for the month would mark a 60 percent jump, from $4.3 billion, clocked during last year`s festive month. The Puja week, which starts from September 29 and ending by October 4, alone may see 60 to 65 percent growth in sales to $3.7 billion, against $2.3 billion, a year ago. More than 75 million gross transactions are expected over this six-day period. Compared to usual business days, e-tailers may see a gross merchandise value (GMV) spike of 7X on these festive days against 6X last year. The number of shoppers making purchases is also expected to go up by 60 percent to 32 million from 20 million last year. The growth will be primarily driven by new shoppers from smaller towns and cities. Newer customers will get attracted to e-commerce due to a host of factors, including the new vernacular interface of platforms, which are breaking the accessibility barriers.
|
|
|
|