'It's Now or Never': Amazon’s Zeba Khan talks about India's playbook for the Great Indian Festival 2026
India’s festive shopping season and Amazon's Great Indian Festival 2026 sale are just around the corner. Despite global chip shortages and rising component costs, consumers are set to benefit from attractive trade-in and financing options.
- Sep 21, 2026,
- Updated Sep 21, 2026 10:30 AM IST
India is entering the most-awaited time of the year, as e-commerce giants gear up for the biggest festive shopping season. Amazon has started teasing the Great Indian Festival Sale, while the offers, deals, and financing options remain under wraps. This is one of the most exciting times for consumers who are planning to upgrade in the electronics sale.
This year, the festive sale has come at an unusual time as the entire consumer electronics industry is navigating an unprecedented market landscape amid rising component costs and global chip shortages. In a conversation with Business Today, Zeba Khan, Director, Consumer Electronics at Amazon India, described 2026 as unlike any year the industry has seen. However, she mentioned that Indian buyers are refusing to cut back and making premium and informed purchases.
Must read: Amazon Now hits $1-billion run rate as Amazon takes quick commerce deeper into India
Advanced AI features, attractive trade-in programs, and flexible, easy-financing options reportedly drive the strong market. With demand continuing to grow across segments, Amazon's sales strategy revolves around delivering maximum value and accessibility during the festive season.
A "black swan" year for electronics
In recent months, memory component prices have risen roughly fourfold, about 300% since September 2025, according to figures cited by ICEA and Counterpoint Research. Amid the pressure, electronic brands including Apple, Samsung, Oppo, and others have started passing the price increases on to customers.
"It is a very unique, peculiar year for electronics where the costs are increasing by a big quantum with the chip shortage and the cost price increases," Khan said. "At the same time, there are supply shortages and allocations as well. Predicting demand is becoming very, very difficult because of continuous price increases."
If we have a closer look at the data, TrendForce data shows that DRAM contract prices are surging 90-95% quarter-on-quarter in the first quarter of 2026 alone, with NAND flash climbing 55-60%, and LPDDR memory. This showcases a rise of roughly 90% in the same period, which is said to be the steepest jump the category has recorded.
Must read: Amazon Great Indian Festival 2026: Rufus AI reveals possible sale dates, deals and ways to save more
According to an IDC report, DRAM supply is expected to grow by only 16% and NAND supply by 17% in 2026, which is reported to be below historical norms, suggesting that memory availability will remain constrained. This is projected to continue until the second half of 2027.
"It's a black swan event. It has never happened," Khan added.
‘Now or never’: Festive sales meet rising device prices
Despite the challenges, Khan gives a clear message to consumers ahead of the Amazon Great Indian Festival sale. She said that the discounts, deals and pricing available during the festive sale will be a “now or never” opportunity, and the prices could be the most attractive prices consumers will get on electronics in 2026.
"They know that in the Great Indian Festival, given this whole price increase trend in electronics, which will continue, this is the best price they'll see in the year," Khan said. "So, it's literally now or never for upgrades." However, the urgency does not come with any compromises from the consumer’s front, and the premiumisation will continue even during these challenging times.
Khan teased that we could see several upgrades happening during the upcoming Amazon sale. Large appliances, 55-inch-and-above TVs and flagship smartphones, she said, are growing exponentially faster than the rest of their categories, across metros and tier 3 or tier 2 cities.
Amid price uncertainties, consumers are heavily turning to financing options. “In Prime Day itself, if we look at EMI rates in smartphones, at least one out of five customers who bought a smartphone bought it on EMI,” Khan said. “And within those five people who bought it, four out of five were on no-cost EMI.”
According to a Counterpoint study, the trend is expected to grow further as EMI and financing options will account for 42% of India's smartphone sales this year, as buyers stretch big-ticket upgrades over months rather than paying upfront.
New categories, same appetite
Beyond phones and laptops, Khan highlighted that wearables, smart glasses, smart rings, and health-and-wellness devices are some fast-growing corners of the festive catalogue. She also noted that Amazon has become the largest online retailer of smart glasses in India, what she called an "overwhelming response" despite carrying a premium price tag.
In terms of health and wellness tracking, Khan noted a shift from basic step-tracking to more comprehensive health monitoring, and brands like Whoop and Apple Watch are reshaping consumers’ approach to health.
Amazon Great Indian Festival 2026: What to expect?
Amazon has started teasing the Great Indian Festival 2026 sale, but bank tie-ups, cashback structures and EMI tenures remain under wraps. Although Khan did not share any specifics, she teased that s shoppers can expect “the best bank discount structures, the best EMI tenures, no-cost EMI, pay later" once the sale is formally announced. Therefore, we will have to wait for the official unveilings to see what the upcoming festive sale has in store for the buyers.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine
India is entering the most-awaited time of the year, as e-commerce giants gear up for the biggest festive shopping season. Amazon has started teasing the Great Indian Festival Sale, while the offers, deals, and financing options remain under wraps. This is one of the most exciting times for consumers who are planning to upgrade in the electronics sale.
This year, the festive sale has come at an unusual time as the entire consumer electronics industry is navigating an unprecedented market landscape amid rising component costs and global chip shortages. In a conversation with Business Today, Zeba Khan, Director, Consumer Electronics at Amazon India, described 2026 as unlike any year the industry has seen. However, she mentioned that Indian buyers are refusing to cut back and making premium and informed purchases.
Must read: Amazon Now hits $1-billion run rate as Amazon takes quick commerce deeper into India
Advanced AI features, attractive trade-in programs, and flexible, easy-financing options reportedly drive the strong market. With demand continuing to grow across segments, Amazon's sales strategy revolves around delivering maximum value and accessibility during the festive season.
A "black swan" year for electronics
In recent months, memory component prices have risen roughly fourfold, about 300% since September 2025, according to figures cited by ICEA and Counterpoint Research. Amid the pressure, electronic brands including Apple, Samsung, Oppo, and others have started passing the price increases on to customers.
"It is a very unique, peculiar year for electronics where the costs are increasing by a big quantum with the chip shortage and the cost price increases," Khan said. "At the same time, there are supply shortages and allocations as well. Predicting demand is becoming very, very difficult because of continuous price increases."
If we have a closer look at the data, TrendForce data shows that DRAM contract prices are surging 90-95% quarter-on-quarter in the first quarter of 2026 alone, with NAND flash climbing 55-60%, and LPDDR memory. This showcases a rise of roughly 90% in the same period, which is said to be the steepest jump the category has recorded.
Must read: Amazon Great Indian Festival 2026: Rufus AI reveals possible sale dates, deals and ways to save more
According to an IDC report, DRAM supply is expected to grow by only 16% and NAND supply by 17% in 2026, which is reported to be below historical norms, suggesting that memory availability will remain constrained. This is projected to continue until the second half of 2027.
"It's a black swan event. It has never happened," Khan added.
‘Now or never’: Festive sales meet rising device prices
Despite the challenges, Khan gives a clear message to consumers ahead of the Amazon Great Indian Festival sale. She said that the discounts, deals and pricing available during the festive sale will be a “now or never” opportunity, and the prices could be the most attractive prices consumers will get on electronics in 2026.
"They know that in the Great Indian Festival, given this whole price increase trend in electronics, which will continue, this is the best price they'll see in the year," Khan said. "So, it's literally now or never for upgrades." However, the urgency does not come with any compromises from the consumer’s front, and the premiumisation will continue even during these challenging times.
Khan teased that we could see several upgrades happening during the upcoming Amazon sale. Large appliances, 55-inch-and-above TVs and flagship smartphones, she said, are growing exponentially faster than the rest of their categories, across metros and tier 3 or tier 2 cities.
Amid price uncertainties, consumers are heavily turning to financing options. “In Prime Day itself, if we look at EMI rates in smartphones, at least one out of five customers who bought a smartphone bought it on EMI,” Khan said. “And within those five people who bought it, four out of five were on no-cost EMI.”
According to a Counterpoint study, the trend is expected to grow further as EMI and financing options will account for 42% of India's smartphone sales this year, as buyers stretch big-ticket upgrades over months rather than paying upfront.
New categories, same appetite
Beyond phones and laptops, Khan highlighted that wearables, smart glasses, smart rings, and health-and-wellness devices are some fast-growing corners of the festive catalogue. She also noted that Amazon has become the largest online retailer of smart glasses in India, what she called an "overwhelming response" despite carrying a premium price tag.
In terms of health and wellness tracking, Khan noted a shift from basic step-tracking to more comprehensive health monitoring, and brands like Whoop and Apple Watch are reshaping consumers’ approach to health.
Amazon Great Indian Festival 2026: What to expect?
Amazon has started teasing the Great Indian Festival 2026 sale, but bank tie-ups, cashback structures and EMI tenures remain under wraps. Although Khan did not share any specifics, she teased that s shoppers can expect “the best bank discount structures, the best EMI tenures, no-cost EMI, pay later" once the sale is formally announced. Therefore, we will have to wait for the official unveilings to see what the upcoming festive sale has in store for the buyers.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine