Winning Bizness Desk
Mumbai. If we go buy the rising trend of shopping by the Indians during this ongoing festive season, we find that they have no fear of inflation or recession. Even in the uncertain environment around the world, Indians are shopping as much as they did not even before the pandemic. According to a report, an increasing number of Indians are not only buying cars, houses and jewelry, but they are spending a lot of money on roaming too. According to the report, the suppressed demand for a long time has come out in the open, which is benefitting from FMCG sector to tour and travel sector. And there is a possibility that this time the festive sales can reach beyond Rs 2 lakh crore.
Sales of Rs 2.2 lakh crores !
The report quoted industry estimates as saying that the current festive season, which began in late September and will continue till early November, could cross $27 billion in sales. This amount is close to 2.2 lakh crores at the current level of Rs. At the same time, this figure is 25 percent more than last year. Also, in 2019, it is twice as compared to the festive season before the pandemic. At the same time, market consultant Redseer has estimated that this year online sales can also reach about $ 12 billion i.e. about Rs 1 lakh crore, which will directly benefit players like Amazon and Flipkart.
Online shoppers making all the difference
According to the report, the number of online shoppers has increased by 4 times to close to 200 million since 2018 and they are making all the difference. Small cities have witnessed the biggest growth where people are buying from clothes to expensive mobiles. According to the Confederation of All India Traders, the share of offline sales out of the total sales can be more than $ 15 billionz which was $ 8.5 billion in the year 2019. According to the data of FADA, the sales in 9 days of Navratri have increased by 57 percent as compared to last year.