E-tailers likes of Reliance Retail, Ajio gear up for 'blockbuster festive season sales'
27th August 2021, Mumbai:
Industry insiders believe e-tailers are likely to witness blockbuster festive season sales this year as consumers will continue shopping online due to the threat of a possible third wave of COVID-19.
The retail arm of Reliance Industries (RIL), Reliance Retail is eyeing more than 50 per cent growth in the fashion marketplace Ajio and likes to attain half the size of online fashion market leader Flipkart-Myntra combined this festive season.
The oil-to-retail conglomerate is targeting at least two times growth in electronics and groceries segments over last year and wants to grab the market leader position in groceries.
The Ambani-led company is bullish to gain traction and take advantage of higher order volume and its exclusive brands like BPL, Kelvinator, and upcoming JioPhone Next affordable smartphone.
Reliance Retail has increased its festive order volume up to 400 per cent in an attempt to push most of the business through its online retail marketplaces such as Ajio, Jiomart and the web store of Reliance Digital.
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Ajio had posted sales of about Rs 2,900 crore last fiscal, whereas this year, in the April-June quarter itself, the fashion marketplace has breached Rs 1,000 crore mark despite the pandemic-induced lockdown, the daily cited another executive as saying.
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