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- Offline Market Vs Online Market: Businesses Expect A Turnover Of 1 Lakh Crore, But The Customer Will Not Get Any Offer
new Delhi27 minutes agoAuthor: Varsha Pathak
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- China has lost about Rs 5,000 crore on Rakhi and has lost 500 crore in Ganesh Chaturthi.
- Now this money will remain in the Indian markets in the festival this year and it will benefit 7 crore traders.
The festive season is close, but the brightness is missing in the markets. Delhi’s Chandni Chowk, Karol Bagh, Khan Market and Kolkata’s New Market, Dharmatalla have heard everything. There are no customers in the market, no festive frills. If anything, the businessmen sitting in the hope of selling and these traders are eagerly waiting for Diwali. Because, the market across the country, which is facing the recession due to Kovid-19, now has high expectations from this Diwali.
Traders are looking to raise stock as the slowdown in the corona epidemic has gained momentum in the festive season. So that, when customers come, do not leave the store disappointed. National General Secretary of the Confederation of All India Traders (CAIT) Pravin Khandelwal told NewsBust India that this year, Diwali could be worth up to Rs 1 lakh crore. This figure was close to 60-70 thousand crores last year.
How to expect so much about offline shopping?
According to Praveen Khandelwal, for the last seven months, people have bought only items of need. In such a situation, customers have savings. Moreover, those mantleys are also ready for shopping. They say that year-round customers wait for Diwali. Even if you do not do more shopping, you will still shop. On the other hand, due to increased cases of online fraud in lockdown and fake goods on e-commerce, customers still have confidence in offline shops.
The decision of the government will also have an effect
The new LTC cash voucher scheme of the government to increase spending by customers will strengthen the falling market. This is expected to provide some relief to traders who have been depressed and suffering losses for the past several months. Due to the savings made by the people in the last seven months, the central government recently facilitated the government employees to convert LTC into cash and the traders spend all the money of the purchases made from China every year on the festive season. By March 2021, about 2 lakh crore rupees are expected to be spent in the country’s markets. Businessmen across the country are excited about this.
Indian businessmen will benefit from Chinese sentiments
According to Praveen, after the India-China military skirmish, the boycott of Chinese goods was launched throughout the country. Its widespread support and impact is visible across the country. Every year, China exports about 40 thousand crores of festive goods to the festival season which runs from Rakhi to Diwali. But this time the Indian customer’s thinking about China has completely changed. The hallmark of which has been seen in recent festivals like Raksha Bandhan and Ganesh Chaturthi.
China has suffered a loss of about Rs 5,000 crore on Rakhi, while Ganesh Chaturthi has lost 500 crore. Now this amount will remain in Indian markets in the festival this year. 7 crore merchants will benefit from this.
Most retailers are not in a mood to offer offers on Diwali this year.
Bharat Ahuja, a businessman from Chandni Chowk in Delhi, said that this year, special preparations are being made for Diwali. The goods which could not be sold due to lockdown, will have to be sold at cheap prices. However, no discount will be available on the new stock. Shopkeepers have suffered a lot in the last seven months. They say that no investor is behind us on the online market, nor the support of any bank. In such a situation, where do we offer offers?
Offline business grew by 30-40 percent
Khan Market (Delhi) organization president Sanjeev Mehra said that due to Corona, markets and trade were completely closed. The business has soared 30-40 percent since the lockdown opened. Trade across the country has not yet returned to track. Now with this Diwali festival season there is every possibility of increasing footfall and shopping in the market. However, this year in the Khan market, Diwali is expected to be about 40% less than last year. Regarding offers, Sanjeev says that this year the demand for furniture, clothes, home appliances will increase, but it is not possible to give offers.
E-commerce will be in double advantage in this festival as compared to last year
According to a report by Redseer, the gross merchandise volume of e-commerce could reach $ 7 billion (Rs 51.52 thousand crore) in the festive season this year. This will be almost double that of last year. Talking about the e-commerce sector, at this time, giant companies Amazon and Flipkart are offering attractive offers to customers to increase sales. Amazon’s Great Indian Shopping Festival and Flipkart’s Big Billion Days Sale offers are the main ones. The festive sale event can sell up to 4 billion dollars (about 30 thousand crore rupees).
This report says that online market has seen tremendous growth due to cheaper 4G data in the market. Reliance Jio holds the largest stake in it. Jio started offering the lowest price internet data to customers. This is the reason that currently the Indian e-commerce market has grown to $ 50 billion (Rs 3.68 lakh crore). According to the report, by 2019, India had access to 48 crore people. Of this, 90 million people are online shoppers.
This time almost all e-commerce companies have focused more on Tier-2 and Tier-3 cities. It includes giants like Amazon, Flipkart, Snap Deal. The report estimated that by 2020, the number of online shoppers could cross 16 crore, while total e-commerce sales could reach $ 38 billion (Rs 2.80 thousand crore).