Indian eCommerce platforms reported USD 8.3 bn GMV during festive Sales
New Delhi, 28th Nov 2020: India's e-commerce festive sale season from October 15-November 15 this year delivered USD 8.3 billion (about Rs 58,000 crore) worth of gross sales for brands and sellers, up 65 percent from USD 5 billion (Rs 35,000 crore) last year, research firm RedSeer said on Friday.
This was also higher than the pre-festive forecast of USD 7 billion, RedSeer said in its report titled 'The Festival of Firsts'.
About USD 3.2 billion (Rs 22,000 crore) worth of gross sales was registered in September this year, which zoomed to USD 8.3 billion in the festive period, the report said.
Of the USD 8.3 billion, USD 4.2 billion (Rs 29,000 crore) was logged in the first event, USD 1.2 billion (Rs 8,700 crore) in the second event and USD 1.4 billion (Rs 9,700 crore) and USD 1.5...