CAIT claims that foreign e-commerce companies will adversely affect the country’s economy, retail market, e-commerce business, agriculture, and other areas thanks to which the consolidation of the “nationalist forces had become vital .”
This year’s online festive season sale, which customers and online marketplaces await with bated breath throughout the year, seems to be tousled even before it could begin.
The sale, which is seen together of the most important annual events for Amazon and Flipkart, is witnessing the 2 companies locking horns weeks before the particular event. For the primary time ever, the 2 companies have gone back to drawing boards to revise their announced dates fearing early competition from the rival.
So much in order that they need decided to start out the sale during Shradh, unlike the previous years once they waited for this era to urge over for the festivities to start .
Like per annum , this year also Flipkart was the primary to announce the dates for its Big Billion Days. On September 21, it said its week-long flagship sale would begin from October 8.
Three days later, Amazon announced that it’ll begin its flagship sale the good Indian Festival from October 4.
This announcement got Flipkart into a frenzy, which each day later advanced the large Billion Days to October 3, each day before Amazon’s sale was scheduled to start .
If you thought that was the top of it, wait!
A day later Amazon also advanced its sale dates which might now begin from October 3, clashing with Flipkart’s Big Billion Days.
Is it mere optics? Experts would really like to disagree.
Covid has changed tons of things within the world, including the way people live and shop.
“It’s not the optics of who started it first the maximum amount as what day one among a purchase does usher in as harvested revenue. there’s a really large overlap of common audiences using both these platforms together. He who reaps latent money first on day one does well,” said Harish Bijoor, Brand Guru and Founder, Harish Bijoor Consults Inc.
Even though the economy is recovering post the second wave of Covid, customers are still cautious with their spending. This happens at a time when offline retail has also opened , unlike the last year when people were mostly resorting to online purchases bruised and scared by the primary wave of Covid.
This translates to limited money being available within the marketplace for online festive purchases.
Calling this behaviour imitative exuberance, Dilip Cherian, image guru, said while 50 percent of those consumer purchases usually are planned, the remainder 50 percent has always been impulse buying and therefore the game will enter favour of the corporate offering better pricing.
Interestingly, the businesses have also taken an enormous plunge during a market which is driven by religious sentiments by launching the sale during the Shradh period this year.
Customers await the auspicious festive season to start to form big-ticket purchases like mobile phones, television and consumer appliances. These also are a number of the key categories which drive the gross merchandise value (GMV) for the businesses during the sale.
This year grocery, loosely called the everyday essentials category, is additionally expected to contribute to the GMV during the sale.
“It may be a big move. the businesses must have monitored the sales that are happening during the regular days. it’s likely that they saw more traction than the last year. This gave them the arrogance that the majority of the consumers are still purchasing new products and this is often not a big thing. they appear to be confident this point that they’re going to be ready to pull it through,” said Satish Meena, senior analyst of worldwide marketing research firm Forrester.
According to consulting company Redseer, the primary week of the web festive sales this year are likely to clock a GMV of $4.8 billion in 2021 reporting a growth of 30 percent as compared to 2020.
Further, these sales are expected to clock over $9 billion GMV during the whole month of festivities. this is often a 23 percent increase from 2020, wherein the players clocked a GMV of $7.4 billion.
This year’s sale also happens at an important time when the 2 e-commerce companies face investigations from multiple agencies including the Competition Commission of India (CCI) over alleged anti-competitive practices, predatory pricing and preferential treatment of sellers among others.
Currently, Amazon is additionally reported to possess found out an indoor investigation following a whistleblower complaint alleging that cash purchased legal fees was funnelled into bribes by the company’s legal representatives.