Legend has it that festivals are one of the most thriving thresholds for retail businesses across the globe to make a killing. While Brick & Mortar retail has been so far successful in captivating consumer’s eyeballs in India during the festival seasons, on the contrary online retail has also joined festive bandwagon and prioritized over offline as it is convenient and trouble free to shop.
Indrayni Das (36), a busy hotel executive working with multinational hotel was in catch 22 situation as she was willing to send a special Puja Thali for her mother but did not able because of the time constraint last year. However, this year she is looking forward to it, “I was surprised to get the fresh flowers on my marriage anniversary from one of the close friend, later I came to know that it was sent via an online retailer. Similarly, this year I would be able to send my warmth and wishes to my mother this Kaali Puja through an online retailer”, she said.
In order to satiate festive frenzy online retailers begin their preparation right from August as the festive flavors prolong till February. Festive season in India starts with Ganpati and continues till Valentine Day. Sharing the strategy to tap the festive season,Pawan Gadia, CEO, Ferns & Petals said “we at FnP experience 60 to 80 spate in orders during the entire stretch of festive season, however we register 1000 percent increase in order on peak days like Dussehra, Dhanteras, Diwali and valentine day. Puja Thali (constitutes of diya, rodi, achhat etc), dry fruits, sweets along with chocolate and flowers contribute most of the sale”. Later he added that during this enthused shopping scenario FnP backend team work aggressively with vendors to bring more merchandises before consumer’s shopping cart, apart from that we stress on providing better illustrations and pictures to entice more and more consumers.
Festivals are the better way to track the consumer’s wallet but retailers need to pay attention to the following tips:
- Retailers should analyze previous years festive trends from data and start persuading potential consumers through mailing and calling
- Use festive centric marketing strategies in order to have better visibility of their offering, deals and special offer
- Spruce up customer support system for better assistance to the buyers
- Try avoiding any new features or functionality to avoid any inconvenience to the consumer though the storefront can be changed according to festive moods
- Largely Category independent buying patterns in this festive season can be capitalized by retailers
- This is the time when strong customer loyalty can be attained by the retailers which can mark up sales even in off festive seasons for that retailers should devise strategy to give a customer the best buying experience.
However, cutting through the consumer’s wallet is not easy and retailers providing value for the money with diverse product categories would definitely close maximum transactions. Stressing on discount driven mindset of Indian consumers, Kashyap Deorah, President, Futurebazaar said “this festive season including Diwali, the challenge with all digital retailers would be to cut through the noise and focus on bringing best deals to the customer”. Electronics, consumer durables, apparels and mobile phones seem to lead the show during this season, concluded Deorah.
Meanwhile retailers are gearing up to facilitate enticing deals to the consumers, services supporting online retailers like payment gateways and logistic are also on their toe in ramping up their stakes. Logistic players serving the industry such as aramex, DTDC and Gati have been chalking out strategies to deliver the orders on time. Beside logistics, payment gateways are also better equipped to avoid any pester while closing transactions. Speaking on preparation of EBS, Priti Shah, President (ecommerce) said “We see the increase in payments traffic by 50 to 60 percent during this season, in order to meet this influx of transactions we have strengthen our technology and backend team. We at EBS focus to facilitate uninterrupted business for our clients”.
Festive season is undoubtedly an opportunity to encash for online retailers, however it needs better planning and flawless execution. Last year online retail gave good competition to modern retail and this time it sets to make some new records and attain greater horizon in terms of transactions. Let’s see where our Industry and consumer behavior reaches after the festive season and makes it a golden ball rather than a so called bubble. We all expect a great Online buying festival