Along with local business, they also earned huge amount in Diwali, e-commerce and online broke records. - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Monday, November 13, 2023

Along with local business, they also earned huge amount in Diwali, e-commerce and online broke records.


The festival of Diwali is over, but due to Diwali-Dhanteras, business worth millions has been done in the country. In this, local businessmen and online e-commerce have earned a lot. There has also been a tremendous surge in the business of online companies on Diwali. After a slow start in the first half of the year, festive season sales have accelerated online shopping. At the same time, during this period, a lot of things like food, grocery and jewelery have been sold on online e-commerce. Even though offline retail is working in full force, data from consulting firm Grant Thornton India estimates that more than 50% of total festive sales will come through online platforms in 2022, compared to 45% in 2022.

They sold well

E-commerce companies and online brands made better sales in the electronics, food, grocery and jewelery segments as compared to last year. On Diwali, people liked online retail along with offline shopping. This year almost 50 percent shopping was done online. This month there was a business of about 10 to 11 crore dollars.

Online shopping increased due to EMI

Expensive smartphones and home appliance business segments have a major contribution in online shopping. Due to the easily available EMI option, people have started preferring to buy them online. Along with this, they also get good discounts and cashback options. It is expected that about 14 crore people will do online shopping during the festive season.

Digital payment companies also in profit

Digital payment companies have also benefited due to increased online sales during the festive season. There has been an increase of about 50 percent in digital payments in food, grocery, household goods and jewelery segments as compared to last year. In October, Flipkart started Big Billion Days and Amazon started Great Indian Festival Sale. According to the National Payment Corporation (NPC), about 12 billion UPI transactions took place between September and October. There were 7 billion transactions in the same period last year.

There was a lot of online shopping even in small towns

There was a lot of online shopping in small cities during the festive season. Small cities have the biggest contribution in the progress of online shopping. According to Amazon, during the festive season it got about 80 percent customers from small cities. Last year this figure was 75 percent. The company added approximately 40 lakh new customers this year.

Business will increase so much since last year

According to Unicommerce data, order volume for e-commerce grew by nearly 37% during the festive season sales this year compared to last year 2022, with online retail registering 22% growth in GMV terms. According to the industry report It is estimated that the GMV of the festive month will be around 10-11 billion dollars.

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