Mumbai, October 10: With the festive season kicking in India, the e-commerce industry is expecting Diwali to be a big bang. The entire e-commerce ecosystem is gearing up for a bumper Diwali.
Diwali season in 2020 was a boon for e-commerce players as they clocked USD 8.3 bn in sales which were 65% higher than the preceding year. The same trend continued in 2021, with the e-commerce platform touching USD 9.2 bn in sales during Diwali. Despite a reigning pandemic, supply and transport constraints and pent-up consumer demand resulted in e-commerce firms witnessing phenomenal sales over the past two years.
With all covid related restrictions lifted and life limping back to normalcy, the industry is expecting e-commerce players to witness a bumper Diwali season. Tier II and tier III towns are expected to lead the Diwali sales backed by higher internet penetration and a greater number of pin codes being serviced by logistics players.
Mr Shrikant D. Nibandhe, Managing Director, One World Logistics Pvt Ltd, believes,” This Diwali, we are expecting a sharp increase in e-commerce sales with the volume expected to touch 2-2.5x of the previous year. The rise in sales is expected to be fuelled by a rise in discretionary income on the back of an increase in salaries across sectors and industries. Also, post a 2-year gap and with all the restrictions lifted, we expect a sharp jump in travelling and gifting during the festive season. The rise in e-commerce sales is expected to be led by electronic products, apparel, consumer goods and food products. We expect demand for electronic goods to increase by 30% and that of ready-made garments to go by 30-40 % this festive season.
On the EXIM side, exports from India have gone up due to some shift in the manufacturing base from China to India. Also, with the Atmanirbhar Bharat push from the government, we are witnessing a decline in the import of consumers good on the back of increasing demand for homegrown products. We envisage that rising exports and a decline in imports should help in restricting India’s trade imbalance.”
Abhilaya, a leading player in rural last-mile delivery, is gearing up for the festive season. The firm plans to strengthen its same-day delivery business and expects to handle 4mn+ shipments during Diwali, which is 80% higher than the volume handled during the previous festive season.
If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours