Etailers expect sales to hit $3 billion during festive season

New Delhi: With the festive season nearing, ecommerce firms expects sales to double to $3 billion as about 20 million people are likely to shop on various platforms during the season, according to a report.

In 2017, as per the report by RedSeer Consulting, ecommerce firms saw about 13-24 million shoppers transact on e-commerce sites during the five-day festive sale last year and 10 million in 2016 around the same time frame.

The annual festive sale, which not only brings in discounts and deals for customers, also acts as a showdown between Amazon India and Flipkart.

While the two firms are yet to announce the sale dates for this year, it is likely to be held in early October.

According to the consultancy firm, the daily gross merchandise value (GMV) during the five-day sale period is expected to be around $527 million. GMV refers to the total sales value of merchandise sold through the platform over a certain period of time.

During May-July 2018 period, the GMV was around $62 million, while it was about $280-300 million during last year’s five-day festive sale.

The report also said the share of items like electronics and furniture during the sale could be higher this year due to “affordability” initiatives being undertaken by the e-commerce players.