Positive festive demand cheers Future Group
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Biyani believes his stand on e-commerce’s predatory pricing and steep discounting by some e-commerce players will last 6-18 months, and then brick and mortar will make a comeback. Meanwhile, the world's largest online store, American giant Amazon and Future Group has inked an agreement to jointly sell goods online. The move by the latter comes after its Biyani expressed concerns over heavy discounting strategy adopted by Flipkart on its ‘Big Billion Day’ sale event.
To begin with, Future Group is expected to retail over 45 own labels of apparel initially, followed by in-house brands in the home, electronics and food categories and Amazon will look after the order fulfillment and customer service for the merchandise on its portal. Both firms will also develop a new line of products across categories to sell exclusively on Amazon and Future Group's retail stores.