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Fintech
The Covid-19 pandemic showed the world that consumers are happy to shop online from the comfort and safety of their homes. The first post-pandemic festive season, though, saw them come out in droves, embracing the touch-and-feel charm of offline retail therapy.
Despite this, however, even pessimistic estimates of how sales would grow in the festive season didn’t pan out. With inflationary trends and overall macro headwinds blowing strong, consumption was impacted.
According to industry estimates, offline transactions saw a higher growth rate compared to online ones during the festive season. And, as Rajeev Agrawal, chief executive officer of Innoviti Payments, points out, there was a systemic shift towards organised retail.
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