While the ongoing pandemic has left crores of Indians in deep financial trouble who are struggling to make ends meet, the Aspirational India — riding on the pent-up demand and discretionary income — is all set to embark on a record online festive sale journey that begins this week.
E-commerce marketplaces Amazon, Flipkart and Snapdeal are ready with festive discounts and mega offers that will begin raining on the consumers from October 16 and those five-six days are set to defy the pandemic-induced economic distress that has engulfed the masses, according to industry experts.
Driven by the small-town India, the festive sales are looking to break earlier records. As per some estimates, the forthcoming festive season sale is projected to generate a gross merchandise value (GMV) of $7 billion — a massive 84 per cent growth compared to $3.8 billion in GMV sales in the same period last year.
According to Prabhu Ram, Head- Industry Intelligence Group (IIG), CMR, the festive season sales will be driven by two broad consumers’ cohorts.
“On the one hand, premium buyers will seek to engage in impulsive shopping to make-up for the lost time. On the other hand, there will be the value buyers, including many first-time ecommerce shoppers from aspirational bharat,” Ram told IANS.
According to industry reports, the festive season shopping is going to witness huge demand from consumers with over 45-50 million shoppers coming online.
“The focus of eCommerce platforms will be to drive accessibility, availability and affordability for consumers in tier II, III and beyond (including smaller towns), with the intent of driving sales,” Ram emphasised.
“Emerging from the throes of the pandemic, all the indicators point to a bigger than usual sales during the festive season. This may seem definitely at odd with the overall economic scenario, low consumer confidence and curtailed discretionary spending,” Ram told IANS.
Source: Telengana Today