Amazon’s highly anticipated shopping extravaganza, the Great Indian Festival, is set to dazzle online shoppers starting from October 10. This year, Amazon is once again rolling out the red carpet for its loyal Prime members, granting them exclusive early access to this grand sale. The e-commerce titan unveiled this exciting news through its app on September 25, building up anticipation in the hearts of eager shoppers.
In a fascinating twist, Amazon’s arch-rival, Flipkart, has yet to unveil the dates for its flagship event, the Big Billion Days (BBD). However, history tells us that these two retail giants often find themselves in a head-to-head showdown during this festive season, and 2023 is no exception.
For e-commerce behemoths, these festive season sales are a make-or-break moment, as they have the power to sway consumer sentiment and significantly impact business performance. In fact, these annual shopping extravaganzas contribute a staggering 50 percent to the gross merchandise value (GMV) of e-commerce companies.
With consumers in high spirits, this year’s festive season sales are poised for remarkable growth, with a potential year-on-year (YoY) surge of up to 20 percent, projecting a whopping GMV of Rs 90,000 crore, as anticipated by industry analysts at Redseer.
During these sales, many customers eagerly add items to their wishlists and finally hit that “purchase” button, enticed by the irresistible discounts offered by these e-commerce giants. Amazon’s Great Indian Festival, for example, promises jaw-dropping discounts ranging from 40 to 60 percent across a myriad of categories, including smartphones, electronics, home and kitchen essentials, fashion items, and even televisions. To sweeten the deal, Amazon is joining forces with India’s largest lender, the State Bank of India (SBI), to offer additional discounts to cardholders.
Despite our attempts to gather more details about this monumental sale event through email, Amazon’s lips remain sealed.
Shoppers are also eagerly awaiting the opportunity to snag the newly launched iPhone 15, a product that has already taken India by storm. While some dedicated enthusiasts queued up outside Apple stores for hours to secure this coveted device, others are biding their time, patiently waiting for it to go live on e-commerce platforms during the sale.
All of this unfolds against the backdrop of an e-commerce industry that’s facing a somewhat slower growth trajectory and contending with inflationary pressures. Nonetheless, Amazon remains undaunted, with Amazon India’s head, Manish Tiwary, expressing optimism about 2023 potentially being the most stellar festive sales year in recent memory. He shared his excitement for Diwali during a company event last month.
In the lead-up to the Great Indian Festival, Amazon has taken significant strides to enhance its product delivery capabilities. The e-commerce titan has inked a Memorandum of Understanding (MoU) with the Indian postal service and forged a strategic partnership with the Indian Railways to establish a dedicated freight corridor, streamlining deliveries for its valued seller partners.
In a remarkable move, Amazon has even opened the doors of its extensive logistics network to be utilized by merchants who don’t typically operate on its platform. This forward-thinking approach underscores Amazon’s commitment to revolutionizing the e-commerce landscape in India.