E-commerce firms such as Amazon, Flipkart, and others witnessed blockbuster festive season sales of about $9.2 billion this year, surpassing the pre-pandemic sales of $5 billion seen during the positive month in 2019. The Coronavirus (Covid-19) pandemic has accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency than last year, according to media reports.

• PM Modi to Inaugurate Noida Airport on 28th March
• Fullife Raises Rs 300 Cr, IPO Plans a Few Years Away
• NBD Bank Gets Nod from Central Bank to Acquire Stake in RBL Bank
• LIC Gets Slammed with Rs 6,146 Crore Tax Demand
• L&T Tech Planning to Sell its Unit to AMI Paradigm Solutions

The year 2021 saw India witness its most significant ever Festive Sales, with brands clocking a gross merchandise value (GMV) of $9.2 billion through online channels over this period, according to consulting firm RedSeer’s e-commerce festive season report. RedSeer came close in predicting this figure with its forecast of $9.6 billion for this year’s GMV falling within just a 5 per cent range of the actual figure ($9.2 billion).

As has been the case for the last five years or so, festive online sales in India continued to grow at a blistering pace and saw a 23 per cent year-over-year growth in GMV.

“A slew of new launches and easy financing options meant that mobiles continued to remain the most widely-sold product category during this time, accounting for more than a third of the total GMV,” said a media report.