E-tailers may post record $7 billion festive month sales | Business – Times of India Videos

E-commerce companies are expected to post nearly 50% jump in gross sales to $4 billion this Diwali, a two-year high, during the five-day sale events of Flipkart, Amazon India and others, according to the latest estimates from market research firm Redseer. With Covid-19 accelerating digital adoption and traditional offline shoppers moving online, the festive season is expected to see an over 70% jump in consumers with 45-50 million digital buyers. Of these, over 50% are likely to be from tier-II cities and beyond, Redseer estimates. The entire festive month is expected to clock gross sales of $7 billion in 2020 against nearly $4 billion last year, a 75% jump.