Amazon, Flipkart, Paytm Mall festival sales may cross Rs. 10,000cr
What's the story
Indian e-commerce firms are ready to battle it out this festive season with big discounts. According to market research and advisory firm RedSeer, they might end up selling over $1.7 billion or Rs. 10,880 crore worth of goods. There are three major players - Flipkart, Amazon and Paytm Mall. This year's sales are expected to be up by 60% from last year. Here's more.
Money
The stakes are high
Reportedly 2016 festive season witnessed sales worth $1.05 billion. However, things have changed a lot since then. Snapdeal is no longer a part of the festival discount race. The number of people shopping online has increased significantly thanks to, Reliance Jio's data plans. Flipkart, with the backing of Tencent, eBay and SoftBank, has created a $4 billion war chest to provide discounts this season.
Amazon
The e-commerce players
Amazon India is also pulling out the big guns. The e-commerce giant has been building up a steady customer base via its Prime subscription service and it's the right time to see if that translates into substantial sales. The new entrant in the scene is Paytm Mall. It's their first festive season and the platform has an impressive Rs. 1,000 crore budget to spend.
Prime
Amazon Great Indian Festival Sale
Amazon will give 40,000 offers between September 21 and 24. The e-commerce giant will have 500 offers on mobiles, 2,500 offers on electronic items, 10,000 offers on home appliances and 300,000 offers on Amazon Fashion items. There will be a new deal every hour and 6,000 offers on Amazon exclusive products. Its Prime members would get early access to the sale from September 20.
Flipkart
Flipkart's Big Billion Day Sale
Home-grown Flipkart's Big Billion Day Sale will commence from September 20 and end on September 24. During this sale, the firm plans on giving huge discounts, no cost EMI and product exchange offers to woo customers. Over 150 exclusive phones from 15 brands will be made available during this sale. There will be 10% instant discount on payment via SBI debit and credit cards.
Paytm Mall
Paytm Mall with Rs. 1000 crore budget
Paytm mall is yet to come out with the dates of its sales. However, it is planning on making a big impact with its debut. The platform plans on giving 100% cashback on select products. Paytm Mall, COO, Amit Sinha said, "The offers will be a mix of cashback, Paytm Gold and other stuff...we are going to be as aggressive as any other platform."
GST
However, there is also caution in the wind
According to some analysts, the pre-GST sale has led to a fatigue in the consumer spending. They've already splurged when the platforms were offloading their stocks at heavily discounted rates and customers might refrain from joining this upcoming festive season sale, opined the experts. Tier 2 and 3 cities are not expected to spend as much as metros and top 10 cities this season.