Indian e-commerce giants Myntra and Ajio’s online shopping festivals, which will take place July 3-8 and July 1-5 respectively, will reveal whether consumer sentiment in the country, devastated by a second wave of Covid-19 this year, is on the road to recovery.
The 14th edition of Myntra’s End of Reason Sale (EORS) event will feature over 900,000 styles from over 3,000 brands; traffic to the platform during the festival is expected to get a 75 percent boost compared to last year’s event, the company said in a press release. Meanwhile, Ajio’s Big Bold Sale will see it introduce discounts of up to 90 percent on 2,500 global brands and over six million styles while tapping local celebrities like Sonam K Ahuja and Kahal Aggarwal.
Many will look to the events as litmus tests for demand in the fourth largest retail market, where consumer confidence dropped to record lows in May.
“The fashion ecosystem, including brands, suppliers, artisans, SMEs and delivery partners, among others, are eagerly awaiting a positive business momentum,” said Myntra CEO Amar Nagaram in a press release. “We hope that this edition of EORS will be the catalyst for confidence and growth that needs to emerge hereon, on which the industry can thrive.”