Inside the billion-dollar battle for India's online shoppers
October 17, 2020 at 00:34
Millions of Indian shoppers are still wary of venturing into physical stores, and Meena expects online sales to grow more than 34% to $6.5 billion this year.
Flipkart's competitive edge during the festive seasonFlipkart was India's single-largest online retailer in 2018 with 31.9% market share, according to the most recent report from Forrester.
Last year, the US firm was ranked as India's most trusted online retailer in an annual survey conducted by TRA.
Flipkart has hired 70,000 seasonal workers to handle the festive sales rush.
But he added that when it comes to festive sales, Flipkart has "an edge in terms of the amount of money customers spend."
That's because Flipkart dominates online fashion sales, Meena said, adding that the company has strong tie-ups with smartphone brands to offer big discounts.
Like Flipkart, Amazon declined to talk about past or projected festive sales figures, but Shah noted that "undoubtedly, [the holiday season is] a very important part of our calendar."
Like the US retail events Black Friday and Cyber Monday, India's online shoppers are loading up virtual carts ahead of time as they wait for sales to kick in.
Arzare said he has seen a spike in online shopping since the pandemic started.
Jio is not a major threat, for nowThe festive sales battle is taking place as Asia's richest man makes a play for the country's growing e-commerce market.
Growing India's e-commerce industry "requires so much investment on the ground to build supply chain," Kumar said.
E-commerce sales account for just 5% of India's total gross merchandise value, according to an August report from consulting firm McKinsey.