Photos: E-commerce companies launch massive sales to woo shoppers
E-commerce giants Amazon and Walmart-backed Flipkart kicked off a crucial battle for shoppers on Sunday ahead of the festive season as retailers search for a much-needed boost to sales amid a slowing economy. October and November -- when much of the country’s 1.3 billion population celebrates several major Hindu festivals and consumers traditionally go on spending sprees -- are critical for retailers, with some raking in almost half of their annual sales during the period. But sales this year have been hit by falling consumer demand as a liquidity crunch crimps personal loans and unemployment soars to its highest level since the 1970s.
Updated On Oct 01, 2019 09:48 AM IST
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Updated on Oct 01, 2019 09:48 AM IST
A vendor arranges sarees inside at a shop ahead of upcoming Hindu 'Dushhera-Vijaya Dashami' festival, marking the end of 'Durga Puja' that honours goddess Durga's victory, in Hyderabad, Telangana. E-commerce giants Amazon and Walmart-backed Flipkart kicked off a crucial battle for shoppers on Sunday ahead of the festive season as retailers search for a much-needed boost to sales in a slowing economy. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST
Vendors make garlands at a flowers shop ahead of the festive season. October and November -- when much of the country’s 1.3 billion population celebrates several major festivals and consumers traditionally go on spending sprees -- are critical for retailers, with some raking in almost half of their annual sales during the period. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST
However, sales this year have been hit by falling consumer demand as a liquidity crunch crimps personal loans and unemployment soars to its highest level since the 1970s. Less than five percent of India’s $600 billion retail market is online, but the sector is expected to expand to 8-9 percent of the market by 2022 thanks to smartphone adoption and a rising middle class, according to RBC Capital Markets. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST
Amazon -- which recently opened a massive campus for 15,000 employees in the southern city of Hyderabad -- has taken out full-page newspaper ads to promote its “Big Indian Festival” sales and is offering discounts of up to 90 percent. (Dhiraj Singh / Bloomberg)
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Updated on Oct 01, 2019 09:48 AM IST
Flipkart has Indian mega-star cricket Virat Kohli as the face of their “Big Billion Days” sales campaign and has slashed prices on fashion items and home appliances. The two platforms -- which have almost 75 percent market share of the e-commerce market -- hope to attract cash-strapped shoppers with financing options, and have hired hundreds of thousands of temporary staff to cope with expected increased demand. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST
Customers stand out of a shopping mall which is decorated for the upcoming festive season, in Hyderabad. Amazon and Flipkart’s six-day festive sales are estimated to reach $3.8 billion, up from $2.9 billion last year, despite the wider economic slowdown, Forrester Research senior forecast analyst Satish Meena said. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST
A vendor carries a mannequin outside a readymade sales shop. Economists are saying that a raft of recent government measures to revive the flagging economy, including a corporate tax cut, would improve sentiment in coming years. (Noah Seelam / AFP)
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Updated on Oct 01, 2019 09:48 AM IST