The retail giants are slated to launch their annual autumn promotions in India on Oct. 3, with overall sales predicted to exceed $9 billion, Nikkei Asia reports.
Walmart-owned Flipkart and Amazon’s Indian business each have a share of the local e-commerce market exceeding 30 percent; both companies have changed their schedules to launch promotions earlier, in an attempt to beat out the rival firm. India’s Shradh festival season is expected to be a lucrative one, seeing as the country’s Covid-19 cases are falling and social distancing measures have eased.
According to consultancy RedSeer, sales could exceed $9 billion over the festive season — up 23 percent from $7.4 billion last year. The firm expects mobile phones, electronics and fashion to be the top-performing categories.
During lockdown Indian e-commerce platforms attracted a bonanza of international investment from the likes of Facebook and a fund backed by LVMH. What can fashion brands do now to tap into this complicated but colossal $43 billion opportunity?