Offline retail Diwali sales soar despite Covid fear

New Delhi, 7/11: Despite Covid-related hiccups, offline retail Diwali sales generated a whopping Rs 1.25 lakh crore after which traders body CAIT said it is a strong and credible answer to those who said that gone are the days of offline trade as e-commerce will overtake retail trade in India soon.

“The unprecedented turnout of consumers in physical markets leading to record-breaking figure of 1.25 lakh crore Diwali festival sale across the country has once again established the confidence of the consumers on traders and also the vibrancy of offline trade in India is reiterated. It is also a strong, fittest and credible answer to all those so-called think tanks, economists and retail experts and some section in government quarters who were repeatedly saying gone are the days of offline trade…,” said Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT).

The purchasing pattern of the consumers has greatly prompted the CAIT to demand the government to put an end to the unholy nexus of foreign-funded e-commerce companies, big brands providing exclusivity and banks providing cashback on purchase from online portals.

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