Online Festive sales grow more after pandemic
The economy was facing a lot of issues when it came to retail sales. Due to the global pandemic, it has become harder for businesses to survive. But, people have been spending more money online for festive sales. There are more than $1 in every $4 spend are in online shopping.
The digital penetration was boosted a lot due to the global pandemic. The sales grew at a lot more speed when in the year-end. Online revenue was skyrocketed at year-end in November-December. The sales rose around 6% to 25.7%. Earlier, the rate was 19.2%.
In the holidays, online retailers saw a huge increase in volume for festival sales. Big retailers like Amazon reported the highest sales during the holidays. This proves that people are more using online platforms for shopping. Cyber 5’s had more time for the sales which boosted more sales on the holidays.
Top Estimated Reason for Increase in Online Festive Sales
- Increase in Online Traffic and hence conversation rate, as the majority of Physical retail stores, were closed or forced to close.
- Digital Marketing Paid off. Big brands presented the Holiday period as a golden period for online discounts and deals
- Increase in Online Payments and Shipments, due to No touch rules.
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