Organised retail races ahead with festive push

Finally, organised as well as online retailers are a satisfied lot. Festive rush of shoppers to grab deals and discounts has led to positive jump in sales figures. While brand stores and malls have witnessed 20-25 percent growth this festive

season, online players are way ahead with 60-70 percent rise in sales.

Traditional or unorganised market on the other hand, which still holds a large chunk of the total market pie has suffered a set-back. The Indian retail market is estimated at Rs 31 lakh crores and the unorganised segment rules it. However, rising consumer awareness about brands, increasing reach of e-commerce and brand stores in small towns coupled with ease of shopping and lucrative offers have given the upper-hand to organised retail.

Festive boom brings in retail rush

The e-commerce market in India is currently witnessing a festive boom. Thanks to the festive season. A large number of consumers are hopping on to e-stores for their festive buys and last minute shopping and web-stores are offering heavy discounts to lure them. A recent Assocham report says, e-shopping during festive season has witnessed a 65 percent increase in comparison to last year for products like mobile phones, e-tablets, consumer electronics, home appliances, home decor, furnishings and apparels among others.

Different web platforms are coming up with unique deals. During Navaratra and Dusshera, Snapdeal.com offered an additional 6 percent cashback on all prepaid transactions, whereas Jabong unveiled a special catalogue of ethnic ensembles for different festivals like Durga Puja and Diwali. Yebhi.com introduced daily offers on men’s apparels, footwear and others apart from a flat 25 percent discount on all other products on offer.

Consumers’ rush to stores, malls

Brand stores and malls are seeing a sudden rush of consumers buying apparel, footwear and accessories in larger numbers than expected, pushing up sales by almost 20 to 25 percent. After witnessing a longer than expected dull retail season, retailers did everything from maximising in-store discount periods, loyalty programs, value-based freebies such as meals, movie tickets or beauty treatments by partnering with companies to free parking at malls, free home deliveries and so on. No wonder, apparel retailers and brands such as Future Group’s Central, Louis Philippe, Van Heusen, Arvind Brands, Max Retail are busy catering to the customers at their stores. Most of the leading brands are looking to a growth of up to 40 percent during this festive season.

While the festive shopping will end with Diwali, people would start their purchases for the wedding season and then winter. The shopping trend is expected to gather pace in the weeks to follow bringing cheer to the organised retail.