According to Forrester Research, e-commerce retailers are expecting to make huge sales and generate almost $4.8 billion this festive season, which will put an end to the general economic slowdown.
Big Billion Days and Great Indian Festival events carried out by e-tailers such as Flipkart and Amazon respectively, will contribute to 80 per cent of the total sales. There will be 36 per cent rise in sales for this period, as estimated from over $2.9 billion registered last year to $3.8 billion for this year.
Several factors that are contributing to this sudden rise includes the shift in spending from offline to online, a slow first-half and increased buyers from Tier III cities. According to Satish Meena, Senior Analyst at Forrester Research, buyers in Tier III cities will spend more online during this festive season as compared to last year as they become more comfortable with online channel, getting access to brands and affordable financing options.
The report further states that smartphones will remain the largest online spending category, followed by fashion.