The festival season is arriving ahead and most retailers, both offline and online are gearing up to attract maximum customers to their stores. The festival season has proven to derive heavy sale of products in various categories.
WallMart backed Flipkart is all set for its (BBD) Big Billion Days and had been preparing for it from last few months.
In July 2018 flifkart planned to increase its delivery and warehouse workforce to 1,00,000 which was earlier near to 30,000-35,000.
Flipkart’s flagship (BBD) Big Billion Day is huge opportunity for its sellers, where they can create sales of one month in just five days. They have already started hiring manpower for the operation efficiency.
Such sales create huge revenue not only for sellers but also for this online retailers. According to data, the Big Billion Day 2-6 October 2016, flipkart sold 15.5 million units and ranked in sales of about Rs.3000 crore.
This Big Billion Day is very important for Flipkart, as it gives a momentum for next 6-12 months and creates a way to raise more funds on desired valuation.
This operation not only increase its revenue, but also helps it grow its customers base. As the use of internet is rising rapidly in India, they get huge number of application download. This helps them increase their customer reach.
This event, helps to grow and expand the company in Many ways. It provides huge data of consumers who has visited their site and also they get data of consumers behavior like their choices, preferences and all this data helps them to target consumer with the right product.
All this data are used for future operations and planning and also to plan next year’s event.
This data are of great helpful for marketing strategy planning, which is one of the important aspect to drive sales.
As, mentioned above this data and future predictions derived from it also guide them to create operational planning like weather to increase warehouse and labors for next season.
Here we have prepared some major takeaways that you can derive from this and apply to your own business, to grow it exponentially.
Create Sale/offers/discount events –
Try creating this type of events in your business. Figure out what is the best time in your business to create event and boom the sales.
For example in India, if you are having a clothing business then Diwali is the most favorable time your business to create event.
People really respond and take a look at such events like Sales/offers/discount.
For this you would have to slightly decrease your margins, so that you can get higher number of sales.
This events will help you reach out new customers and grow your business.
Also your would get huge data, which would help you in different ways for your future business operations.
You could study the customer buying pattern and then plan according to it.
At last this events would bring out huge revenue for your business in very days. Which will help you sustain for next few months of time and would also help you in raising funds.