This would translate into an 18-20% growth over the previous season. Sales are expected to be driven by some 140 million shoppers who are likely to make online purchases at least once during the festive season, which typically runs from the onset of Navaratri to Diwali. The festive period is projected to drive about 17% of the annual e-commerce sales for 2023.
“E-tailing sales growth in the past couple of quarters has been the lowest historically. With the economy normalising, the festive season will catalyse demand,” analysts at the firm said.
Major e-commerce firms like Flipkart and Amazon offer a plethora of deals during the festive season to get more users to transact on the platforms. In fact, over the course of the past few festive seasons, companies have attracted a lot of new users from small towns, who often like to compare offers across platforms. Coming in the wake of tricky inflation data and a depressed job market characterised by layoffs, this festive season may see more consumers hunting for online deals.