Flipkart, Amazon Festive Sale: 50 Lakh Indians Will Buy Rs 50,000 Cr Of Online Goods!
Given the upcoming festive season in India, e-commerce companies are expecting a huge growth in their business, as much as 50%!
Especially now that social distancing is a must, people are preferring to shop online which has already resulted in a huge boost to the online shopping platforms.
Read on for all the details!
E-commerce Companies To Record $7 Billion Sales This Festive Season
Diwali is just around the corner and reports have suggested that there might be a huge 50% jump in the gross sales of e-commerce companies – up to $4 billion in the upcoming festive season.
This will be a two year high, as predicted by the latest estimates coming in from the Online Festive Sales 2020 Forecast’ report by market research firm Redseer.
Last year, the penetration of online retail was only 3% with as much as 135 million online users. But there will be a drastic change in the picture, as reported by Redseer. People from metro cities and tier-1 cities will be contributing to 35% and 25% of the sales respectively in the next two months.
More than 70% boost has been expected with 45 to 50 million digital buyers of which 50% are most likely to be from tier 2 cities and beyond.
Redseer also suggests that during the entire festive season eCommerce companies will record gross sales of $7 billion in 2020. This will be a 75% jump from last year’s $4 billion.
Redseer Predicts 150 to 160 Million eShoppers; Focus on Non-Electronic Products
As we all know, Flipkart has already announced that it will be creating jobs for 70000 people which will include posts in its supply chain management. The Walmart owned e-commerce behemoth has cited the upcoming festive season and the Big Billion Days sale for this mass recruitment drive.
Redseer has said that India has 150 to 160 million e-shoppers. Also, the market research firm has predicted that the focus in this festive season will be on non electronic products.
There is not much news about the date of the extremely popular sale, but eCommerce platforms have already started collaborating with brands, sellers, and logistics players.
As per reports, industry executives are also working with sellers and brands so that there wouldn’t be any issues in the supply chain and investment when there is a significant spike in the demand.