Amazon Unveils 'Buy Now, Pay Next Year' Ahead of Great Indian Festival Sale

Amazon sale offers will be on top of the shoppers' minds when the Great Indian Festival starts, and to sweeten the deal, the e-commerce company will provide for the first time the option to purchase products and pay for them in instalments after three months. Named 'Buy now, pay next year,' the offer will be available to HDFC Bank credit card holders. The shoppers will be able to make purchases in the upcoming Amazon sale, but will be required to pay the installments starting January 2018 only, Arun Srinivasan, category leader of consumer electronics at Amazon India told Gadgets 360. The Amazon sale starts on September 21, but Prime members will have early access to sale deals from 12pm IST on September 20 itself. To coincide with the Amazon sale, the 'Buy now, pay next year' offer is being rolled out on September 20 for Prime members and September 21 for everyone else.

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The move comes as Amazon looks to make it more convenient for customers to purchase products from its website. This time it is putting more focus on expanding its affordability options to customers, Srinivasan said. As part of the move, Srinivasan says the company has partnered with 11 banks and Bajaj Finance service to provide a range of enticing offers including zero EMI and cash back. HDFC debit card holders will get an additional 10 percent discount on purchases, the company said.

As part of the Amazon sale, the company will be offering more than 500 offers and up to 40 percent discounts on mobiles. More than 40,000 offers will be available across the four days of the sale, with 2,500 offers on electronic items and new deals every hour. There will be over 10,000 offers on home appliances and 300,000 offers on Amazon Fashion items. The Great Indian Festival sale will end on September 24, but the company will be holding a couple of more sales in the next one month as Diwali nears, it said. "We expect this to be the biggest season in terms of sales for us," Srinivasan said.

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Diwali, the festival of light which will be celebrated across India on October 19, has been historically of great significance to Amazon India, bringing in more new customers to its service than in any other season. "During Diwali, smartphones and other electronics products see a significant jump in sales," Srinivasan said. "Television is another such lineup that attracts many customers," he added.

Amazon India also recently introduced a new programme called "cross category exchange" through which it is allowing customers to turn over their smartphones, for instance, when they are purchasing a new TV or a tablet, or a laptop. This programme will be valid throughout the Amazon sales held till the end of Diwali.