Amazon India expects unprecedented sales during the biggest e-commerce online event, the Great Indian Festival, this year.
In an interview with CNBC-TV18 on Day 1 of the Amazon Great Indian Festival, Manish Tiwary, the Country Manager of the India Consumer Business, said the company expected to achieve unprecedented sales this year.
According to Tiwary, both the marketplace sellers and Amazon managers have seen a surge in annual online festive sales from day one. It is estimated that this year’s festival “will definitely be the biggest event we have ever seen,” bringing about Rs 90,000 crore in sales this festive season.
The growth of e-commerce sales in India this year is largely driven by the segments of consumer electronics, fashion and luggage. Besides, special offers by grocery brands proved to be very successful this year as well.
When asked whether there were any worries over inflation affecting sales, Tiwary said inflation and rising prices hadn’t affected the previous sales in July and August and were not expected to hinder October sales as well.
In September Amazon unveiled new tools designed for use by sellers who interact with the company’s program called Buy with Prime. According to Peter Larsen, vice president of Buy with Prime, sellers who have already used the new solution recorded a 15% increase in purchases after adding a shopping cart to Buy with Prime checkout.
The e-commerce giant also introduced a new set of generative AI capabilities to simplify creating listings for Amazon sellers. This new tool helps merchants draft more thorough and captivating product descriptions, bullet points, titles, and other listing details.
These and other innovations help Amazon facilitate both sellers’ and end users’ experience with its platform in preparation for annual shopping events across the globe.