Festive boom boosts e-commerce sales in India

In the ongoing festive season, India’s e-commerce market is witnessing a boom. Consumers are logging on to online platforms for their festive buys and last minute shopping. What’s more lucrative deals and discounts are luring them to loosen

their purse strings. As per a recent Assocham report, e-shopping during festive season for apparels, consumer electronics, home appliances, home decor, furnishings among others, has witnessed a 65 percent increase compared to last year.

Deals and freebies push up e-sales

The online market estimated at Rs 52,000 crores and growing at 100 percent per year, is witnessing good demand from consumers even in small towns. And e-shopping portals are doing everything to woo consumers on a shopping spree. For example, during the Navaratra and Dusshera festivals, Snapdeal.com offered an additional 6 percent cashback on all prepaid transactions. Another leading platform Jabong.com unveiled a special catalogue of ethnic ensembles for different festivals like Durga Puja, Dusshera and Diwali. While Yebhi.com introduced daily offers on men’s apparels, footwear and others apart from a flat 25 percent discount on all products on offer.

E-commerce takes centrestage

Many online shopping portals like Flipkart, Jabong, Snapdeal, eBay, Indiatimes et al, are racing ahead while fiercely competing with each other. New entrants are trying their best to grab a pie of this booming marketplace. They are offering exclusive services and tying up with popular brands to appeal to demanding consumers.

The interesting part of this whole e-commerce story is its widening reach in Tier II and III towns. Rise in fashion and brand conscious consumers, nuclear families, working women and higher disposible incomes has lead to almost all leading online players tapping consumers in smaller cities. They are expanding their product portfolio to suit the taste of consumers belonging to different regions.

Even though the e-commerce model is still in its nascent stage in India, compared to most western countries, it is definitely seeing a huge growth momentum.