New Delhi: Amazon India on Friday announced that its festive season sale – The Great Indian Festival (GIF) – is set to begin on October 4.
The company said it would see participation from lakhs of small sellers, including over 75,000 local stores.
“This year’s Great Indian Festival is a celebration of the resilience of local shops and small and medium vendors. We are humbled by their spirit and delighted at the opportunity to partner and enable their growth, especially given the recent challenges due to the pandemic, Amazon India Vice President Manish Tewari told reporters, as quoted by news agency PTI. .
There are more than 8.5 lakh sellers on Amazon India Marketplace.
Ahead of the festive season, many online shopping platforms organize several sales events around Dussehra and Diwali.
Flipkart has also announced its annual ‘The Big Billion Days’ sale from October 7-12 this year. Flipkart’s sale will last for 6 days as per the initial announcement, while Amazon’s GIF will be a month-long event, reported PTI.
GIF 2021 will see over 1,000 new product launches from brands like Samsung, OnePlus, Xiaomi, Levi’s, Adidas, American Tourister, Pedigree and more.
The event will also include products from Amazon sellers under various programs such as Amazon Launchpad, Amazon Saheli and Amazon Artisan.
Amazon India Vice President Manish Tewari cited a recent study by the company and a study by Nielsen to say that sellers on Amazon.in are optimistic about this festive season.
According to him, 98 percent of the sellers surveyed said that technology adoption and e-commerce have positively impacted their business.
Expected to see an increase in festive season sales
E-commerce companies see a significant portion of their business during festive sales and they make significant investments ahead of time to enhance their efficiencies and features to be able to handle the spike while ensuring a seamless experience for buyers. connects to. Seller
According to consulting firm RedSeer, e-commerce platforms are expected to register a gross GMV (gross merchandise value) of over $9 billion during the festive season this year as compared to US$7.4 billion last year – a growth of 23 per cent.
In the first week of the festive season, the gross GMV of these platforms is expected to grow by 30 per cent year-on-year to USD 4.8 billion.
Gross GMV is the total value of goods sold on the Platform before deducting cancellations or refunds.
According to the report, the mobile segment will continue to dominate the category. This will be driven by new launches – and will account for 11 percent of the gross GMV (USD 4.8 billion) in the first week of festive sales.
The electronics and appliances segment is also expected to grow (from 14 per cent share in festive sales last year to 16 per cent this year), while fashion this festive season is expected to see a steady improvement – due to greater outdoor mobility and steady rebound from consumers. is fashion / office wear.
Affordable construction including EMI and Buy Now Pay Later (BNPL) is expected to be a strong growth lever in this category, as reported by PTI.
Amazon India Vice President said that three broad categories – electronics, fashion and everyday essentials – GIF is expected to do well during 2021.
“Customers look forward to Diwali for many shopping needs and I would divide it into three broad areas, the first is electronics… the second is everything around fashion and beauty… the third is an important bucket that is used in everyday life. Everything is needed, from home to grocery,” he said.
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