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E-Commerce Festive Sales to Touch ₹1.2 Lakh Crore; Quick Commerce Leads Growth
GST: Sales across several categories have more than doubled due to the GST cut. Car sales for Maruti Suzuki, Hyundai, and Tata Motors have increased by 100-133% during Navratri. Two-wheeler bookings are also on the rise.
A significant surge in festive purchases across the country is being seen after the GST rate cut. The impact of festive demand is also evident on the Navratri economy, which is growing robustly under supportive buying conditions. Importantly, both the urban and rural markets are experiencing robust purchases across a broad gamut of products ranging from automobiles to two-wheelers, TVs, refrigerators, cosmetics, and premium and luxury watches.
Businesses say that sales across several categories have more than doubled due to the GST cut. Car sales for Maruti Suzuki, Hyundai, and Tata Motors have increased by 100-133% during Navratri. Bookings for two-wheelers are also on the rise. Tractor sales are expected to increase by 30-40 percent, driven by strong billings over the past five days.
According to traders, due to a good monsoon and festive offers, customer inquiries are now turning into purchases. There's also an increased trend towards purchasing premium products in rural areas.
