Amazon and Flipkart are practically synonymous with festive sales. Their Great Indian Festival and Big Billion Days sales, respectively, dominate the general public’s mind space when it comes to online shopping. This year, however, they had the unlikeliest of challengers—HDFC Bank.
HDFC, India’s largest private bank, decided that after years of partnering with the e-commerce giants’ sales, it would strike out on its own by building a deals platform. Called Festive Treats, the platform runs offers from around 1,000 brands and 10,000 retailers (mostly offline) across categories as diverse as apparel, consumer durables, jewellery, furniture.
HDFC Bank takes on Amazon, Flipkart in festive sales power tussle
India’s largest private bank has launched its own deals platform, Festive Treats, to rebalance the scales of power between e-commerce behemoths and banks
HDFC Bank launched Festive Treats, its own deals platform. This pits the bank against e-commerce leaders like Amazon and Flipkart
The move is HDFC's attempt to reclaim lost leverage at a time when the relationship between e-commerce companies and banks is skewed in the former's favour
E-commerce companies have also successfully delinked the shopping and payments experiences, further putting banks in a spot
With Festive Treats, HDFC is hoping to regain its hold over customers