Ecommerce Companies Expecting 7 Billion USD Festive Sales

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As per the reports, Ecommerce companies have already started working with brands, logistics, and sellers for the upcoming big sale. Notably, the etailers have observed a 70% jump in their digital buyers, with nearly 50 million new users. It is likely to get more deals in the upcoming festive month compared to last year. 

The big three ecommerce giants are likely to fight for market dominance this year. It includes Reliance JioMart, Amazon, and Walmart-owned Flipkart. They have already started working with brands, logistics, and sellers for the upcoming big sale. Though, the sales dates are yet to release. 

 

New Challenges for Ecommerce Companies in 2020

The players will also have to keep the government rules in mind this year compared to previous years. In 2020, the government of India has set new consumer protection rules. As per the new law, it is mandatory to list the products with their “country of origin”. Other critical provisions of Ecommerce consumer protection norms, 2020, include grievance offers and customers’ resolution within a month from receiving complaints. Notably, the ecommerce industry associations have asked the government to give them a 6-7 month extension to comply with new rules. 

The DPIIT, Department for Promotion of Industry and Internal Trade  (1), proposed in July that August 1 would be the deadline for etailers to display the “country of origin” on all their products on its websites.

 

Enthusiasm of Ecommerce Players for Festive Sales

Flipkart and Amazon recorded a combined value of 3 billion USD or 19,000 Crore INR for its gross merchandise value in India during their festive season sale. These etailers made up almost 90% of the ecommerce sales during the gifting season. 

Notably, the discounts help ecommerce giants to drive sales during peak seasons. One of the most significant festive sales in India is held between Diwali and New Year. Our readers can call it the Indian version of Blac Friday sell. The companies make up 60% of the sale during these festive sales compared to their annual sales. 

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Rucha Joshi, currently managing a team of over 20 content writers at TimesNext is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student and a passionate leader.

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