Festive season sale: Indian e-tailers generate Rs 150 bn in 5 days

In the five days festive sale period that ended October 14, India’s e-commerce marketplaces are estimated to have sold goods worth Rs 150 billion (approx $2.3 billion) according to market analyst RedSeer Consulting.

Led by giants Amazon and Flipkart, sales on online platforms grew by around 64 per cent, facilitated by higher than ever awareness about online sales. The results were, however, lower than RedSeer’s initial estimates of India’s online retail industry grossing between $2.5-3 billion this festive period.

During the festive sale period in 2017, online retailers had grossed an estimated $1.4 billion in sales, which represented a 43