Myntra, Ajio kick off mega sales amidst wedding season boom
Online fashion retailers Myntra and Ajio have unveiled their highly anticipated sales events: 'End Of Reason Sale' and 'Big Bold Sale,' respectively. Strategically timed to coincide with the upcoming wedding season from November 23 to December 15, 2023, experts estimate sales during this period could reach a substantial Rs 4.25 lakh crore, according to the Confederation of All India Traders.
The Big Bold Sale by Ajio, which kicked off on December 7, 2023, reported an impressive 40 per cent surge in orders during the early access phase compared to business as usual (BAU). Meanwhile, Myntra's 19th edition of the ‘End Of Reason Sale’ anticipates attracting approximately 10 lakh new customers.
Economist Teresa John from Nirmal Bang Institutional Equities predicts a robust wedding season following the festive period, providing further impetus for short-term industry growth. In anticipation of the demand surge, companies have been actively investing in various supply chain solutions to ensure timely deliveries. The 2023 Global Warehousing Study by Zebra Technologies reveals that about 75 per cent of warehouse decision-makers in India and other Asia Pacific markets are enhancing performance to meet the evolving demands of e-commerce.
According to the study, approximately 58 per cent of warehouse decision-makers have plans to implement next-generation technologies such as radio frequency identification (RFID) by 2028. This strategic move aims to provide real-time inventory visibility and mitigate out-of-stock scenarios, especially during peak demand seasons like the festive celebrations in India.
