Synopsis
Industry executives and analysts attributed the 7-10% year-on-year (YoY) decline to a slowdown in mobile phone purchases following price hikes, the absence of the GST cut-led demand boost seen last year, and a growing share of seasonal spending shifting to quick commerce.
The festive season opened flat as ecommerce and online retailers clocked Rs 29,800-30,900 crore in gross merchandise value (GMV) sales—excluding discounts and returns from total sales at online marketplaces—over the first four days compared to Rs 33,200 crore in the same period last year, according to data shared by Datum Intelligence with ET.Industry executives and analysts attributed the 7-10% year-on-year (YoY) decline to a slowdown in mobile
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