Twenty million shoppers likely to generate $3 billion worth of sales in just five days of Diwali
The busiest time of the year for etailers is fast approaching. The festive season (September to December) accounts for a majority of annual sales for ecommerce players, and this year is likely to see record numbers. The depreciating rupee is unlikely to play spoilsport.
“This festive season, the online shopping market is set for a mega clash of the titans—Amazon vs Walmart,” says Anuj Puri, chairman of Anarock Property Consultants, which also runs a retail advisory unit. “Unlike earlier, when Flipkart competed with Amazon by offering deep discounts, this season will see the two US giants battle it out in the Indian market.”
According to a report by market research firm RedSeer, the five days of Diwali are expected to fetch a gross merchandise volume of $2.5 billion to $3 billion, up from about $1.5 billion in 2017. Amazon has just introduced a Hindi interface, which will help it grab a greater slice of the tier-1 and tier-2 markets, the report adds. Flipkart recently introduced an independent platform for refurbished goods called 2GUD, which is likely to increase sales of returned mobiles, laptops and electronic accessories.
The rundown to the festive season has already begun at Paytm Mall, says COO Amit Sinha. “We have had wonderful sales in the past few weeks and expect to have equally impressive results in the future.”