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E-tail to take USD 1 Bn hit in lockdown

Mar 30, 2020 by The Passage Team
E-tail to take USD 1 Bn hit in lockdown

The 21-day lockdown will lead to a loss of at least $1 billion in gross sales as India’s largest online retail platforms like Amazon and Flipkart stop selling non-essentials till at least the middle of next month, based on current government directives.

What’s of further concern is that the online retail players are expected to grow only by 5% this year, in the most optimistic scenario, compared to about 26% growth in the previous year to reach $23-24 billion in gross sales. Overall e-commerce sales, including movie tickets and other platforms, was USD 32 billion in 2019, according to market research firm Forrester’s data exclusively shared with TOI.

Source: Economic Times

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