bengaluru indias top online marketplaces amazon and walmartowned flipkart are launching promotional events beginning august 6 aimed at helping sellers liquidate old inventory and free up working capital ahead of mega festival sales according to company executivesamazons twoday sale will be its first large promotional event since the easing of the lockdown flipkarts fourday event will focus on electronics appliances and fashion an analysis of the deals on the platform showsthe sales are largely a result of pressure from sellers said a top ecommerce executive to help move inventories theyve been sitting on since before the lockdown and free up working capital ahead of the festive period advt for both ecommerce majors hosting the sale this week has become a matter of urgency as the moratorium on working capital loans for sellers granted by the government to ease disruption caused by the pandemic is due to expire on august 31with the moratorium period coming to an end and no clear visibility on extension its time for sellers to take actionable measures said a top executive at one of the leading invoice discounting platformsthe central banks monetary policy committee is due to meet on august 6 to review any extension of the moratoriumeyeing business revivalaccording to a nielsen report commissioned by amazon 43 sellers are citing business revival as a primary objective for participating in the event prime day provides an opportunity for the smallest of businesses to participate rebound from recent challenges and grow their business an amazon spokesperson told et adding that more than 77 of sellers are participating in prime day for the first time and 68 are launching new productsindustry executives said that while the upcoming sales will last for a few days it typically takes 23 weeks for all shipments and settlements to be completed at the sellers end citing this as the reason for the rush to host a sale even before independence day which typically registers a spike in consumer spending driven by nationalistic fervour advt we really want these sales to happen said aman gupta cofounder at electronic accessories brand boat this is the first sale happening in a long time and ecommerce sales are critical this is a good time for all of us to test the waters before the diwali salesflipkart did not respond to ets queries on the developments analysts expect the ecommerce marketplaces to post a strong performance during the upcoming festive period as consumers continue to prefer online shopping due to fear of covid19brands in fashion consumer electronics large appliances and furniture are seen as drivers of the salesthe reason why brands and marketplaces are preparing for the festive sales is because its critical for them to get off the blocks said ankur pahwa partner at ey especially in discretionary categories like fashion and consumer electronics which are yet to fully restartwhile the ecommerce sector has recovered nearly 90100 of its gross merchandise value in july this has largely been driven by categories such as grocery personal