With the occasion of “Akshaya Tritiya” at hand, the forecasts indicate that gold sales will soar this year. As the festival is considered auspicious for buying gold and other valuables, the Indian market is getting ready for the splash. In the mean time, online websites and shopping portals are at haste to roll out their special offers and products for the masses. During festivals, when Indian buyers are keen to buy jewellery and other expensive items, it is crucial for businesses to project their marketing plans to be on a same page with their customers. In Indian context, although, online shopping still has a long way to go, from the prospect of its huge populace extended to its rural fringes, the concept of online market is fast catching up and rather, has already made a competitive head start against traditional retailers. With penetration of e-commerce and m-commerce into tier II and tier III cities across the country, many people are vying for online shopping websites for purchasing products through mobile devices, laptops and PCs instead of driving through a maze of traffic and wait for their turn at local bazaars where the turnout of visitors in quite high on festive and religious occasions such as “Akshaya Tritiya”.
Embracing e-commerce and m-commerce for shopping at e-stores has many advantages. The reasons for the exponential growth of online market are the conveniences and load of features that are provided via these channels. Especially while shopping for festivals and special occasions like marriages, the online platforms are quite favourable. The ‘time saving’ factor is the best feature that has led to an undisputed victory for e-shopping over traditional shopping. While buying through online channels one does not require going shopping in the market and spend time searching for the right merchandize at the right price. Instead, people prefer to decorate their homes and prepare for celebrations whilst they buy online or at their leisure by just clicking on the computer screen. Mobile devices make it easier; one just needs to tap!
Services such as doorstep delivery, product exchange/return policy, EMI options and round-the-clock customer service have rendered e-commerce as well as m-commerce popular among the masses. In festival times, people remain busy and bringing items from the market is unavoidable. Online shopping has emerged as a great relief as people can invest the saved time for other activities. The comforts offered by online shopping portals has become a reason for many to access their services. One simply needs to log-on to the website or access the mobile application to search for the wide range of items required for the occasion. In matter of minutes, they select the products and process the order. Within a day or two, those items reach their doorstep. One can choose for cash on delivery or opt to pay online at the time of ordering. What is more intriguing about shopping online is that, these services offer a complete range of products right from food to decoration items. These sites can be compared to large shopping plazas with every item, large and small, fitted into a smart phone or a computer.
As India is a country of myriad festivals, traditions, rituals and customs, celebrations are lined up one after another throughout the year. Every festival has a special significance and stature with varied requirements and unique type of celebrations. This aspect of the country adds to a potential selling proposition in the Indian e-market. Compared to countries such as the US, where grand celebration time comes only once in a year during Christmas, in India such occasions arrive every month. Therefore, the retail market in the country experiences frequent upsurges. For instance, during “Akshaya Tritiya”, buying gold is considered as auspicious, the gold market is certain to get the hit every year. The same is with other festivals such as Dussehra, Diwali, Onam, Pongal and so on.
Not only expensive products such as gold find prominence in the market, but also many items specific to traditions and rituals are have a huge demand during festivals, paving a golden opportunity for online shopping websites. They roll out customized products during festivals and give attractive offers also for the convenience of the buyers. During Diwali it is certain for online portals to offer a diverse set of products from crackers to designer ‘diyas’ and clothes to electronics. Thus, people are bestowed with the convenience to purchase everything they need at one place and that too delivered right at their doorsteps.
On this “Akshaya Tritiya”, gold sales are expected to get a hike of 25%. The online market community has prepared quite well with personalized products highlighted in their websites. Pure gold jewelleries with variety of designs are available at attractive prices. This is a peak time for online retailers to roll out their stocks, as people are sure to turn to their favourite shopping website!
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