While everyone is celebrating its loot that they purchased during festive season sale, the e-commerce giants like Flipkart and Amazon are also in festive spirit about the business they made during their respective sales.
E-commerce giants and industry analysts claimed that they have generated a whopping $2.3 billion (Rs. 15,000 crore) sales roughly in these five days.
Compared to their last year sale which was around $1.4 billion (Rs. 10,325 crore) in 2017, the industry has made 64 percent year-on-year growth, according to RedSeer consultancy report.
RedSeer’s Engagement Manager said ” The industry witnessed a higher growth this time compared to last year. This was driven by multiple drivers, key being a larger shoppers base from Tier-2+ cities. Also affordability and loyalty schemes introduced by e-commerce players also played a huge role in converting the visitors into shoppers”
According to report,
The main key drivers of this festive sales were:
• Increase in number of shoppers from Tier ll and Tier lll cities.
• Affordable schemes along with bank and wallet offers.
• Awareness of sale due to great advertising, attracted more people online.
• Loyalty and subscription schemes.
It was the first biggest sale event after Walmart acquired 77% stake in the company with a $16 billion deal. Flipkart estimated that it saw a figure close to 25 million people visiting its app on one of the day during sale.
Flipkart also pointed out that it had almost 50 percent growth in number of new customers.
“Flipkart has recorded around 70% share of entire Indian e-commerce market in the BBD of 2018. Matching scale with global marquee retail events GVM(Gross merchandise value) grew by 80% over last year, while the units grew by close to 2X year on year” a Spokesperson form Flipkart said.
While, Amit Agarwarl (Amazon India Senior Vice President) claimed that their ‘Great Indian Festival’ sale surpassed the numbers registered in same period last years within first 36 hours of sale alone.
“The event exceeded our most aggressive plan among all the categories. More than 80% of customers came form small towns, and we gained orders from 99% of serviceable pin-codes in the country in just four days,” he pinned.
Also he explained that Fashion was the largest category in terms of acquiring new customers with 63% orders coming from Tier ll and Tier lll cities. We also reported 2 out of 3 customers using schemes like exchange, EMIs and bank offers.
Amazon’s Hindi Website saw 2.4 times new customers coming and shopping on the platform as compared to a non-sale day.
WalMart backed Flipkart claimed that it’s latest Big Billion Days sale has smashed all the existing records and set a new benchmark for the entire Indian retail industry.
It also spotted that it had registered five times increase in transactions and sales compared to regular days, with around 60 million visitors reaching platform during sale.
And also, over 2 lakhs shoppers participated in the sale.
Paytm started it’s sale from October 9, a day before than others.More offers are expected to come out before Diwali.
Now it would be interesting to watch, how next year’s festive season comes out to be.