India E-commerce eyes festive sales |
Indian E-commerce companies are waiting anxiously and hoping that they will be able to buck the downturn in the economy during the much anticipated Festival sales which will start later this month. Over half a dozen industry stakeholders — e-tailers, brands, sellers, analysts — the upcoming festive sales may not see consumers hold back with their spending. However, the rate of growth this festive sale might be lower than last year. Amazon India says that the company did not see any signs of a slowdown in its last two sales and it expects to double down on the momentum going into the festive season. It is planning to launch a range of new products during the Diwali sales. Both Amazon and Flipkart have stitched up various partnerships with third-party brands across segments like smartphones, large appliances, electronics and fashion among others. Last year, e-commerce sales grew by 33% during the annual festive sale events, totaling up to $2-2.3 billion. According to analysts, this year the sales growth could be about 20% and the growth would be at least as much as last year during the five-day sale when Amazon and Flipkart start their respective events.
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