Published By : 10 Oct 2017 | Published By : QYRESEARCH
Flipkart and Amazon India have geared up well for the festive Diwali period with combined sales of more than US$450 million in the second leg of the festive sales in India. The monsoon and winter months are crucial for the Indian retail industry, as a spate of holidays considered auspicious according to local traditions leads to a bumper rise in sales volume. Diwali represents the major month for any online retailer in India, as people are keen to make extravagant purchases to celebrate the festival.
The momentum generated by the robust second leg of the festive sales is likely to rub off on the pre-Diwali sales period starting this weekend. The Diwali month is generally the most profitable for retailers in India and this year is no exception, with the ongoing month of October expected to generate an opportunity twice that of October 2016 for retail players in India.
The second leg of the 2017 festive sales had a decided tilt towards fashion purchases. Diwali sales tend to focus on electronics these days, as smartphones and TVs have become the favorite option for Indian consumers. Amazon has allegedly already ordered two lakh smartphones to be stocked up before the Diwali sale, while televisions and other domestic appliances would also be stocked at the same scale. The new iPhone is likely to be a major part of Amazon’s Diwali sale plans. Flipkart is also expecting significant purchases of smartphones, having taken a lead over Amazon in smartphone purchases in recent months.