gear up for festive shopping! Major E-Commerce sites like Amazon, Flipkart, Myntra, Ajio, Snapdeal, and more have already announced the dates of their mega-sale events for the year 2022. Soon you will start seeing ads for the ‘Amazon Great Indian festival’, ‘Flipkart Big Billion Days’, ‘Myntra Big fashion festival’, in leading newspapers, TV channels, and online. Both Retailers and shoppers are looking forward to a great season ahead. Are you ready with your shopping list?
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Positive Consumer Sentiment Propelling Festive Shopping In India
After two years of uncertainty due to the pandemic, sentiments are looking much better this year. As per the Centre for Monitoring Indian Economy (CMIE), the Index of Consumer Sentiment (ICS) grew by 6.7% in July 2022. This is significant as compared to previous months. This is the highest growth registered since September 2021. The Reserve Bank of India’s (RBI) survey shows a similar trend.
Projections and Preparations
Major Online retailers in India expect sales worth $11.8 billion this festive season, a whopping 28% growth over last year’s figure of $9.2 billion. There are many reasons behind such a neck-breaking growth forecast.
- The pandemic has accelerated online shopping reach to Tier-II and Tier III cities much faster than expected.
- A vast population of new buyers from these cities is waiting in excitement to shop online during this festive season.
- Online retailers are better prepared this year compared to last year.
- Though mobiles, electronics, and fashion will remain dominant categories, other categories like Wellness and Beauty are also expected to do well.
- Manufacturers and retailers are more focused on product pricing and affordability across demography.
- E-retailers using advanced digital marketing tools like the deployment of influencers, short videos, and WhatsApp marketing to push sales down to small cities.
- Robust distribution network with fast delivery promises. Major players like Amazon, Flipkart, Myntra, Ajio, and Tatacliq have additional manpower to meet the demands.
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festive Shopping Tips For Maximum Benefits
1. Decide on a budget: This year, festivals start in the last week of September and stretch up to 3rd week of October. For most of the working class, it will be a one-salary cycle. You should know how much you can spend this festive season. So, decide how much you can set aside for your shopping.
2. Make a Wishlist: Discuss with your family and make a family Wishlist.
How can you allocate your budget unless you know what you have to buy?
- Start encashing reward points on your debit or credit cards and convert them into coupons if possible. Include them in your budget.
- Identify products you can buy in under exchange schemes.
- Start adding targeted products to your cart as soon as possible on various E-commerce sites.
3. Explore bank offers: Check with your banks for upcoming festive offers that you can avail of on your debit or credit cards. They usually offer cash back or interest-free EMIs or reward points. Also, check offers on digital wallets like Paytm, Lazypay, Phonepe, etc. Try to avail of those schemes clubbed with retailers’ schemes and avail maximum benefits.
4. Try offline: Sometimes, we only look for convenience and ignore our budget. This festive season, check-out prices at your nearby stores also. You might get better offers in local markets. It also gives you the joy of shopping with your family and friends. After all, festivals are about having fun with families and friends.
So, if you are planning to buy a new smartphone, a funky gadget, a pair of sneakers, or upgrade your wardrobe, these festive season sales are probably the right opportunity to get the best deals on your favorite brands.
