India's largest shopping season has begun. Amazon and Walmart-owned Flipkart have started to offer discounts of up to 80% as Indian shoppers prepare for Diwali, the Hindu festival of lights.
- Total e-commerce sales are expected to be between $6.5b and $7b as shoppers are expected to stay home due to COVID-19. India currently has the second-most confirmed coronavirus cases in the world behind the U.S.
- Flipkart began its "Big Billion Days" event on Friday, which runs until Oct. 21. Amazon's "Great Indian Festival" began on Saturday, a month-long event that will end on Diwali, on Nov. 14.
- A Forrester Research study revealed Flipkart has 31.9% market share in India, while Amazon has 31.2%. However, Amazon is the most desired internet brand.
- Amazon has invested $6.5b into India, including a $1b investment earlier this year. It expects to create 100,000 seasonal jobs. Flipkart has said it will create 70,000 seasonal jobs.
- During this shopping season, both companies will have to compete against Reliance Industries Ltd.’s JioMart, a homegrown e-commerce platform that has backing from Facebook.