? Cool Title, but what’s the news?
Walmart Inc.’s first big battle with Amazon.com Inc. in India will be for festival sales of up to $3 billion.
? Okay, but what does it mean?
India’s largest online retailer Flipkart, now controlled by Walmart, will square off with Amazon in the five-day Diwali sale in October. E-commerce gross sales during the period are expected to hit $2.5-3 billion (up to Rs 21,000 crore), according to a latest report from RedSeer Consulting. That will make the biggest ever and twice as much as last year’s $1.5 billion.
? Why should I care?
The Diwali festival, considered auspicious for buying, is the most important sale season for e-commerce companies. They generate nearly 30 percent of the overall sales during the month, according to Satish Meena, forecast analyst at Forrester Research.
Both Amazon and Flipkart attract users with discounts, exclusive tie-ups, new products and faster delivery.