The festive season sales registered a lower growth this compared to last year.
Chennai: The macro-economic sentiments did have a bearing on the online festive sales this time. The festive season sales registered a lower growth this compared to last year. The growth rate was even lower than that of a non-festive business day.
The 15-day festive season sales period saw e-commerce companies clocking aggregate sales of Rs 31,000 crore against Rs 25,600 crore last year, as per the data from RedSeer Consulting. While this year, the festive season recorded a sales growth of 20.2 per cent, last year the growth rate was as high as 70.7 per cent. Even in 2017, festive sales grew by 43 per cent.
More interestingly, the growth rate, though from a higher base, was even slower than the sales growth on a usual business day. During regular days of 2019, e-commerce sales grew by 32 per cent. It was slightly lower than 36 per cent last year.
According to RedSeer, the year-on-year growth came down due to tough macro-economic environment and decreased consumer spending. Slower growth in mobile sales also contributed to the trend.
