Online Shopping During Festivals: The Economic Angle
Online Shopping During Festivals: The Economic Angle
The festive season in India is here again. India being a diverse country has festivals and
celebrations throughout the year. However, the months from September to December are
more of a season with one festival coming up after another.
Festivals mean lights, joy, togetherness, and celebration. It also means shopping! From
small items like footwear, clothes, and accessories to big appliances like TV, Car, Washing
machines, we tend to buy almost everything in the wake of festivals.
All of us have heard of the Big Billion Days or the Great Indian Festival. With the onset of
October, all we can see or hear around us is sales, attractive prices, discounts. E-commerce
giants like Flipkart and Amazon with their attractive offers and convenient buying options,
win big during the festive season. Ecommerce platforms are rolling out elegant deals across
key consumer durables like fashion, electronic devices, smartphones, home appliances, and
decorative material.
Last year, during these two mega sale events, online retail in India grew more than 60% to
$2.3 billion with Flipkart claiming a 70% share.
With 34% CAGR, Indian e-commerce is expected to have considerable growth in the coming
years. This growth will change things for the better for the Indian economy.
Let us look at the effects on the Indian economy
1. Financial development
With greater discounts on manufacturing, transport and electrical sales, e-commerce
sure fosters an environment of financial growth in various sectors
2. A greater reach to remote places
Retail shops couldn't reach remote towns or villages. Online markets and sales are
now reaching every corner of the country. Hence, generating a wider audience. With
cash on delivery and one-day delivery options, we are spoilt for choice and
convenience.
3. Boost in export rate
Startups or freelancers in India can sell their products online through various
platforms. This may boost exports from the global audience.
4. Employment availability
E-commerce platforms today are providing more than a million jobs to the Indian
workforce. Over the coming decade, we can expect massive growth in employment
opportunities, with increasing demand and newer jobs coming in.
The Indian e-commerce industry along with their big discount sales don't fail to engage us in
shopping more and more. It also helps boost retail sales, increasing the overall demand for
goods.
The festive season in India is here again. India being a diverse country has festivals and
celebrations throughout the year. However, the months from September to December are
more of a season with one festival coming up after another.
Festivals mean lights, joy, togetherness, and celebration. It also means shopping! From
small items like footwear, clothes, and accessories to big appliances like TV, Car, Washing
machines, we tend to buy almost everything in the wake of festivals.
Online shopping with crazy sales
All of us have heard of the Big Billion Days or the Great Indian Festival. With the onset of
October, all we can see or hear around us is sales, attractive prices, discounts. E-commerce
giants like Flipkart and Amazon with their attractive offers and convenient buying options,
win big during the festive season. Ecommerce platforms are rolling out elegant deals across
key consumer durables like fashion, electronic devices, smartphones, home appliances, and
decorative material.
Last year, during these two mega sale events, online retail in India grew more than 60% to
$2.3 billion with Flipkart claiming a 70% share.
How does this affect the Indian economy
With 34% CAGR, Indian e-commerce is expected to have considerable growth in the coming
years. This growth will change things for the better for the Indian economy.
Let us look at the effects on the Indian economy
1. Financial development
With greater discounts on manufacturing, transport and electrical sales, e-commerce
sure fosters an environment of financial growth in various sectors
2. A greater reach to remote places
Retail shops couldn't reach remote towns or villages. Online markets and sales are
now reaching every corner of the country. Hence, generating a wider audience. With
cash on delivery and one-day delivery options, we are spoilt for choice and
convenience.
3. Boost in export rate
Startups or freelancers in India can sell their products online through various
platforms. This may boost exports from the global audience.
4. Employment availability
E-commerce platforms today are providing more than a million jobs to the Indian
workforce. Over the coming decade, we can expect massive growth in employment
opportunities, with increasing demand and newer jobs coming in.
The Indian e-commerce industry along with their big discount sales don't fail to engage us in
shopping more and more. It also helps boost retail sales, increasing the overall demand for
goods.
Cedrus Wealth Partners
Pune, Maharashtra.
www.cedruswealth.com
Pune, Maharashtra.
www.cedruswealth.com
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