Dark horse rising in online clash for festive season supremacy
The Arc reported last week. To be sure, most quick commerce platforms already offer a limited number of items such as earphones, toasters and induction cooktops. The companies are expected to expand stocks and add new categories for the festive season.
“We have recently launched in Kochi, Vijayawada, Bathinda and Haridwar. We plan on increasing coverage to more cities in the next few weeks and are looking to expand our service to cover more neighbourhoods in these markets," a Blinkit spokesperson said in response to Mint’s queries. A spokesperson for Instamart did not respond to an emailed query.
India's festival season kicks off with Raksha Bandhan in August and lasts until the New Year, featuring Onam, Ganesh Chaturthi, Diwali, Durga Puja, Navratri and Christmas in between. Known for high spending, the period is critical for manufacturers and retailers of electronics, consumer durables and apparel, who unwrap new models, offer discounts and roll out easy payment schemes to attract customers. The first week of last year’s festive season sale saw online platforms clocking a gross merchandise value (GMV) of about ₹47,000 crore, up nearly 20% from the previous year, according to estimates by Redseer Strategy Consultants.
Redseer had projected that e-commerce firms will touch GMV of ₹90,000 crore by the end of the festive season. Overall, e-commerce companies expect sales to jump 35% this festive season, according to a report by recruitment and hiring services platform TeamLease, aided by the rise of quick commerce and consumer spending capacity. If logistics partners are willing to onboard large appliances, brands may consider partnering with quick-commerce platforms, executives of several brands said.
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