The festive season is a major factor responsible for driving the online retail market of India. This market is among the fastest growing markets of the country. Other factors pushing the growth of this market are increasing penetration of internet, growing use of smartphones, ease of payment and captivating commercials. Furthermore, convenience of shopping and access to large variety of products at one place is also attracting more customers to opt for online shopping.
Mentioning the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said that, “festivals and events greatly impact the Indian online retail market. These festivities bring in a great wave of enthusiasm for both the customers and the retailers as they mark the arrival of festive sale period through which great offers and discounts are provided to the customers”.
The online retailers have given different names to the sales taking place during the festive seasons of the country. For instance, Flipkart holds its annual festival sale by the name of Big Billion Days. On the other hand, Amazon India holds festive sale by the name of the Great Indian Festival. Captivating offers and great discounts are provided during these festive sales which help in attracting more customers to purchase products online. This results in increase in online sales which in turn provide enhancement to the online retail market of India. This market is forecasted to reach an approximate value of more than 100 Billion by 2022 as per RNCOS analysis.
Various initiatives such as “Digital India” campaign are being launched in the country to help the Indian online retail industry. The “Digital India” campaign was started by Prime Minister Modi in 2015. The aim is to make the country digitally empowered especially in the field of technology by improving internet connectivity and online infrastructure. The success of this initiative will offer major thrust to the growth of online retail industry of India.
With more than a decade of experience in retail industry, RNCOS can act as a potential growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with your business and devising the right strategies.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
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