Covid-19 impact: E-commerce companies may see 50% rise in festive sales

The upcoming festive sales are expected to push up the annual gross merchandise value (GMV) of e-commerce companies to around $38 billion, a growth of 40 per cent from the previous year. With Covid restrictions playing a spoil sport for physical retail, e-commerce festive sales could cross the $7-billion mark, according to a report by research firm RedSeer Consulting. This is estimated to be 50 per cent more than what e-commerce players had garnered last year from these sales.