Businesses are gearing up for festive sale without COVID-19 curbs

0
67

E-commerce majors Amazon and Walmart’s Flipkart have already announced heavily discounted sales.

NEW DELHI:

The companies are hiring thousands of temporary workers, expanding into smaller cities and launching new products as the country prepares to celebrate its peak party season for the first time in three years without COVID restrictions.

Many people in the country of 1.4 billion people decorate their homes and buy new clothes, cars, telephones and other goods en masse between September and November around UK Time News festivals of Durga Puja and Diwali. E-commerce majors Amazon and Walmart’s Flipkart have already announced heavily discounted sales.

The Confederation of All India Traders (CAIT), which says its 80 million small and medium-sized businesses generate annual revenues of more than $1.5 trillion, predicts revenues this Diwali season will be at least 30% higher than last year .

See also  NBA Bans Suns Owner Robert Sarver For One Year For Harassment At Work, Using Racist Comments

“Consumer sentiment is very optimistic after two years of restrictions,” said CAIT Secretary General Praveen Khandelwal, who has traveled to many parts of the country this month urging traders to stock up and ensure that they have a variety of products to compete with online. players.

He said demand for CAIT members has already returned to over 90% of pre-COVID levels.

While annual retail inflation broke a quarterly downward trend to accelerate to 7% in August, Khandelwal said the trick was to offer customers options to suit their budgets, something he held nationwide sessions for companies he named. represents.

Ecom Express, which supplies products on behalf of e-commerce companies, said it had doubled its parcel handling capacity to 6 million units per day and expects volumes to rise to 65% during the holiday season, with much of the growth coming from smaller cities. .

See also  Pakistan is not asking for debt relief from commercial creditors – Finance Minister

Smartr Logistics, which launched a year ago, said it was expanding to a dozen mostly smaller cities, in addition to adding new centers in many other major cities such as New Delhi, where it already has a presence. It cited the growing demand around the time of the festivals and the goal of connecting smaller towns.

“We aim to strengthen connectivity beyond metro cities to bring greater accessibility and ease of doing business for smaller and medium-sized enterprises in the second and third cities,” said Smartr founder Yogesh Dhingra.

Online delivery platform Dunzo, backed by retail-to-energy conglomerate Reliance Industries, said August was a busy month due to its many festivals and demand typically surges 30% during the overall Diwali season.

See also  The extended tax UKTN is fast approaching for 19 million Americans. What you need to know if you still have not filed a tax return?

“We have planned our inventory so that we stock our assortments based on the festivals celebrated in each city,” said Dunzo chief executive Mrunmayi Oke.

Logistics operator Delhivery Ltd said late last month it would create more than 75,000 seasonal jobs around September to meet “significantly higher volumes during the holiday season”.

Automakers such as Tata Motors, Mahindra & Mahindra and Maruti Suzuki have recently launched or plan to launch new models soon.

The trade association Society of Indian Automobile Manufacturers said earlier this month that while a good monsoon and the upcoming holiday season would likely boost demand, high fuel prices were a concern.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here