E-commerce platforms experienced a slow start to their biggest annual sales, which started on 26th September, but they began to pick up steam after Navratri when people started receiving their monthly pay cheques, Diwali bonuses, and the end of the unfavourable Shraadh period, which is when people don’t usually make new purchases.
After sluggish sales for over four quarters, manufacturers of consumer products are optimistic that demand would pick up even more by Diwali. For many businesses, the holiday season accounts for up to 35 per cent of yearly revenues, making it the highest consumption time of year in the nation.
Devaranjan Iyer, CEO of department store chain Lifestyle, reported strong garment sales since Navratri, with double-digit overall growth and high single-digit same-store sales growth. “Sales are better than last year which has been a big relief,” he stated.
After the first period of festive sales till Dussehra, the second wave will begin 7-10 days before Diwali even though ecommerce sites such as Amazon and Flipkart will continue their sales offers.
