HONG KONG (CNN BUSSINESS)- With the festive season round the corner in India, the country?s major online retailers are battling against each other to grab a larger mass of the growing remunerative e-commerce market.
The two most extensive e-commerce rulers, Walmart owned Flipkart and Amazon are hypercompetitive with their own shopping events. The Big Billion Days and the Great Indian Festival can see a new corrival; Jio Mart in the race.
A senior forecast analyst Satish Meena market researcher for Forrester says, the sales sortie during Diwali is critical for companies because? they get a big chunk of spending during this period.”
This year, amidst the Pandemic hit economy fall, despite the relaxation by the government; millions of Indian shoppers still resort to online facilities rather than venturing into stores physically. Meena predicts a growth more than 34% this year which could count $6.5 billion.
?This is the time when consumers are actually in spending mode,: he said, adding that this seasons sale could sum up to 18% of India?s total online shopping for 2020.? That?s why every company wants to win the battle during the festive period.?
Flipkart?s Competitive Edge During The Festive Season
2018 saw the growth of its first online retailers, Flipkart with 31.9% shares according to Forrester. In the same year WALMART took over the home company for $16 billion in 2018.
On Friday, Flipkart?s Big Billion Days, began.
The companies strategies are to sell affordable good to the middle class and lower middle class customers in India, said Rajneesh Kumar, Flikart?s Senior Vice president and chief cooperate affairs officer.
? A significant number of people in India look for value for money,? Kumar said.
? If you provide the right value and the right customer experience, you will win.?
Amazon gives a cut-throat competition, with just 31.2% shares in the market, it still hold strong eminence in the e-commerce market in India. It ranked the most trusted e-commerce retailer in the year 2019, according to the survey conducted by TRA.
?Flipkart and Amazon are neck-to-neck in the e-commerce wars, in terms of their product offerings, their initiatives to bolster affordability and increase consumer confidence, and most importantly, their last mile delivery initiatives`,? said Prabhu Ram, head of the Industry Intelligence Group at research firm CMR.
The Importance Of Diwali
Post lockdown, Flipkart and Amazon have earned numerous orders and stumbled to fulfill their orders due to Corona virus fear.
Since then they have improvised their delivery strategies and set up warehouses in Bangalore this month to handle the spurt in holiday orders and hired 100,000 seasonal workers, 10,000 more than the previous year.
While Flipkart hired 70,000 additional warehouse an delivery workers to handle the hike.
Illustrating their interface in multiples languages, the firms have added a star to their service.
?We have geared up really strongly for the festive season,? said Minari Shah, director of public reactions at Amazon India. The Great Indian festival begins on Saturday, but the prime subscribers have it a day earlier.
?Since I need to buy a couple of gadgets, I feel that I can wait for a couple of weeks until the sale starts and get a better deal,? said Anshul arzare, a banker from Mumbai.
Jio Not A Major Threat, For Now
To compete with the existing e-commerce retailers, Asia?s richest man makes a debut with his e-commerce facility JioMart, which is a part of Mukesh Ambani?s growing cluster of Jio Platforms; Reliance Industries.
?Thought it is fairly nascent, Jio Mart is ambitious, and with cocktails of attractive discounts and cash back offers, will seek to entice online shoppers,? said Ram, of CMR.
For now JioMart is only selling grocery and is planning to extend its services later.?In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead,? Ambani said at Reliance Industries? annual meeting in July.
Whether it is Flipkart, JioMart or any other e-commerce sector, Amazon will always be top-notch.
HONG KONG (CNN BUSSINESS)- With the festive season round the corner in India, the country?s major online retailers are battling against each other to grab a larger mass of the growing remunerative e-commerce market.
The two most extensive e-commerce rulers, Walmart owned Flipkart and Amazon are hypercompetitive with their own shopping events. The Big Billion Days and the Great Indian Festival can see a new corrival; Jio Mart in the race.
A senior forecast analyst Satish Meena market researcher for Forrester says, the sales sortie during Diwali is critical for companies because? they get a big chunk of spending during this period.”
This year, amidst the Pandemic hit economy fall, despite the relaxation by the government; millions of Indian shoppers still resort to online facilities rather than venturing into stores physically. Meena predicts a growth more than 34% this year which could count $6.5 billion.
?This is the time when consumers are actually in spending mode,: he said, adding that this seasons sale could sum up to 18% of India?s total online shopping for 2020.? That?s why every company wants to win the battle during the festive period.?
Flipkart?s Competitive Edge During The Festive Season
2018 saw the growth of its first online retailers, Flipkart with 31.9% shares according to Forrester. In the same year WALMART took over the home company for $16 billion in 2018.
On Friday, Flipkart?s Big Billion Days, began.
The companies strategies are to sell affordable good to the middle class and lower middle class customers in India, said Rajneesh Kumar, Flikart?s Senior Vice president and chief cooperate affairs officer.
? A significant number of people in India look for value for money,? Kumar said.
? If you provide the right value and the right customer experience, you will win.?
Amazon gives a cut-throat competition, with just 31.2% shares in the market, it still hold strong eminence in the e-commerce market in India. It ranked the most trusted e-commerce retailer in the year 2019, according to the survey conducted by TRA.
?Flipkart and Amazon are neck-to-neck in the e-commerce wars, in terms of their product offerings, their initiatives to bolster affordability and increase consumer confidence, and most importantly, their last mile delivery initiatives`,? said Prabhu Ram, head of the Industry Intelligence Group at research firm CMR.
The Importance Of Diwali
Post lockdown, Flipkart and Amazon have earned numerous orders and stumbled to fulfill their orders due to Corona virus fear.
Since then they have improvised their delivery strategies and set up warehouses in Bangalore this month to handle the spurt in holiday orders and hired 100,000 seasonal workers, 10,000 more than the previous year.
While Flipkart hired 70,000 additional warehouse an delivery workers to handle the hike.
Illustrating their interface in multiples languages, the firms have added a star to their service.
?We have geared up really strongly for the festive season,? said Minari Shah, director of public reactions at Amazon India. The Great Indian festival begins on Saturday, but the prime subscribers have it a day earlier.
?Since I need to buy a couple of gadgets, I feel that I can wait for a couple of weeks until the sale starts and get a better deal,? said Anshul arzare, a banker from Mumbai.
Jio Not A Major Threat, For Now
To compete with the existing e-commerce retailers, Asia?s richest man makes a debut with his e-commerce facility JioMart, which is a part of Mukesh Ambani?s growing cluster of Jio Platforms; Reliance Industries.
?Thought it is fairly nascent, Jio Mart is ambitious, and with cocktails of attractive discounts and cash back offers, will seek to entice online shoppers,? said Ram, of CMR.
For now JioMart is only selling grocery and is planning to extend its services later.?In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead,? Ambani said at Reliance Industries? annual meeting in July.
Whether it is Flipkart, JioMart or any other e-commerce sector, Amazon will always be top-notch.