Festive Sales See Shoppers Log In, But Hold Back On Big-Ticket Purchases

The festive season, usually a time to splurge, is telling a different story this year. A smaller number of card transactions and weaker smartphone sales are hinting at consumers tightening their purse strings amid mounting pressure on household budgets. Early data from Redseer estimated that India’s online festive sales clocked $7-8 Bn in gross merchandise value (GMV) during the first leg, from October 8 to 18.