NEW DELHI:-The two biggest retailers Walmart and Amazon are for the first time refreshing for a brutal battle to take a bigger share of the Indian wallet in the upcoming festive season, which accounts for almost 40-50% of the total consumer spend in the country.Walmart owned Flipkart and Amazon India, the world’s two largest e-commerce marketplaces, have placed more than twice as much the volume of orders for televisions, appliances and smartphones as a year before, and have bargain record low sourcing prices with vendors that they intend to pass on to consumers as discounts.
Walmart has given a free hand to Flipkart management to run out the sale this year with a authority to assure it is ahead of Amazon in both sales number of units sold. Flipkart is likely to invest a part of the $2billion$ equity funding it received from Walmart for this year’s festival season sale, three of them said. Amazon,too, is keen to emerge as the leader this year, which means that there could be a heavy discounting war between the two, they said. “ The e-commerce market have clearly indicated that they will offer higher discounts on this year and accordingly negotiated for lower prices in return of sourcing higher volume, ” Mangement sales head of a leading consumer electronics firm. “They have said that this year discounts will run for almost the entire period of the festive season till Diwali unlike previously when the big discounts were reserved for the special events. Just that the special events this year will have more higher discount and cashback,” he said
An Amazon India representative said that company forecast the upcoming festive season to be its enormous so so far in the terms of sales, web traffic, Add new customers and digital payment acceptance. “ Apart from the best deals of year on the biggest brands across all categories, customers can look forward to more savings and accessibility with schedule such as no cost EMI and exchange on sale product ,” the person said ““Over 3.8 lakh sellers will accordingly offer over 170+ million products.” The first leg of online festive sale is expected from October 9 to 11. prices so far in popular screen sizes like 32 inches, 43 inches and 50 inches this Diwali season.
Officials at consumer electronics brands such as Vu, BPL, Thomson, Skyworth, Onida and Kodak confirmed a huge surge in online order volume for Diwali, but declined to share specifics citing confidentiality clauses. An executive of an online exclusive television maker said the brand’s order book for Diwali is triple of what it was last year. Ajit Nambiar, chairman at electronics brand BPL, said competition in the online space is going to be fierce this festive season. He said volumes of BPL, which sells exclusively on Amazon, have doubled compared to last year.