India is welcoming the festive season and ready to celebrate with great enthusiasm while adapting to the new normal brought on by the pandemic. Festive months are generally a time to indulge in heavy shopping, which increases our budget spent in light of the ongoing festive vibe and running promotional sales offers.
Festive season 2021 is expected to bring numerous opportunities for retailers and ecommerce companies. Festive sale offers have already begun and with buyers becoming more comfortable with online shopping, Forrester Research expects online retailers to generate about $9.2 billion in sales during this period. That’s a 42 percent year over year increase from their evaluation of $6.5 billion in festival months sales during 2020.
We are excited to witness this exponential jump in India’s ecommerce market. As per the estimates by RedSeer Consulting, ecommerce platforms such as Flipkart and Amazon India got $2.7 billion in the first four days of festive sales that began on 2 October 2021.
The excitement with festive promotional sales offers will create massive online traffic, impact product sales and company turnover, and put enormous pressure on companies’ supply chain processes. Companies might equate the ecommerce platform as the “brain” and the supply chain as its “heart”. Both must perform in tandem to fully meet and satisfy customer expectations.
Festive months are a crucial period when companies can make a lasting, positive impact on consumers.