The E-cart overload
The big discounts are likely to last a few more days, so the final figure will be higher
The government has shifted a tax incentive meant for vacations to the purchase of big-ticket items
India’s annual festive season sales have been buoyant so far, with online offtake hitting $3.1 billion in about four days, according to market researcher RedSeer. This exceeds the gross merchandise value, or the total value of goods sold online, of $2.7 billion achieved last year. The big discounts are likely to last a few more days, so the final figure will be higher. A sudden release of pent-up demand after a prolonged lockdown partly explains that bounce. But that might not be the only reason. Signs of a revival in economic activity may have perked up the Indian consumer’s mood.