India Business News: E-commerce platforms in India have generated around Rs 29,000 crore ($3.9 billion) in sales during the first four days of the festive shopping period,
After a surge during the first two days of the festive sales, especially on Amazon and Flipkart, discounts started tapering early, despite several days of the sale still ahead. This meant that sales also tapered out. While brands and sellers overachieved their targets, some platforms pared down the discount burn, leading to sellers following suit.
E-commerce companies in India, such as Amazon and Flipkart, are expecting a record-breaking festival season with virtual shoppers predicted to spend a record $11 billion, nearly 20% more than last year. Both retailers have hired temporary workers and added new sellers to meet the rush. Market research shows that over 80% of urban consumers are expected to shop online during this festival season
Amazon India has made its "best-ever start" to the peak period in the shopping calendar, according to country manager Manish Tiwary, reporting a record 95 million customer visits in the first two days of its Great Indian Festival 2023 campaign.