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. Top e-commerce firms would host flagship sale events such as Flipkart’s ‘Big Billion ...
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