E-commerce majors Flipkart and Amazon India on Sunday said they have seen a strong start to this year’s festive sales, with demand picking up in tier-II and -3 cities. Walmart-owned Flipkart on Sunday said its ‘Flipkart Plus’ program (loyalty program) saw a 40 per cent growth this year as compared to last year, while customer demand for around 45 per cent in Tier-III cities and beyond. has been. .
In a separate statement, heroine Manish Tewari, India’s vice president, said the platform saw a 60 percent increase in sellers who achieved their highest single-day sales year-on-year on Amazon. “Amazon Great Indian Festival In 2021, our month-long festive celebrations have taken a strong start with millions of customers shopping from small sellers listed on Amazon.in, including local shops, start-ups and brands, artisans, weavers and SMBs .
“During Prime Early Access on October 2, the number of local stores participating in the event more than doubled compared to last year,” he said. Tewari said Prime subscription continues to be a favorite of customers across India, with two out of three newbies. Prime sign-up customers coming from Tier-II and -III cities and shopping in eight Indian languages. “We also saw a 60 percent increase in sellers who got their highest single-day sales year-over-year on Amazon. In; There was a 21 per cent increase in the number of sellers receiving orders from Tier II/III cities, and 16 per cent more sellers receiving orders as compared to the previous year,” he said.
He said the opening figures on the first day indicate a strong start across categories for the month-long festive season. As in previous years, the competition between the two giants is expected to be intense. Flipkartbelonged to Big Billion Days Sale And Amazon India’s Great Indian Festival (GIF) has started from Sunday. Both the platforms offered early access to Plus (Flipkart) and Prime (Amazon) customers. Flipkart’s The Big Billion Days (TBBD) sale is an eight-day event that will end on October 10, while the Amazon India GIF will last for a month.
Other players such as Myntra, Snapdeal and others are also organizing similar sales events on their platforms. In a statement, Flipkart said the 8th edition of its TBBD opened on a positive note, with the initial trends reflecting the upbeat consumer sentiment in the country. “Early access for Flipkart Plus customers witnessed a 40 per cent increase over the previous year. Interestingly, around 45 per cent of customer demand has been from tier III cities and this is beyond indicating a strong preference for high value goods/goods.
Flipkart further said that “the anticipation of this festival was clear as over two million customers pre-booked five million products just ahead of Early Access by paying just Re 1. One lakh in curated offers from “BBD Specials”. Customers are placing orders for these products in the first 12 hours of early access, it noted. “This year, TBBD has started to see enthusiastic participation by customers and sellers. E-commerce evident It is gaining increasing acceptance among the masses, and it is clear that user-friendly technical and financial constructions are helping drive adoption,” said Nandita Sinha, Vice President (Customer & Development), Flipkart. She said that the company will expand and strengthen its ecosystem of vendors and MSMEs (Micro, Small and Medium Enterprises), enable better income and livelihoods for millions and expand its reach across the country.
Sharing early trends, Flipkart said that one in five customers have chosen to exchange their smartphone for a new one, with 82.6 per cent customers looking to pay for their next smartphone using prepaid payment options. The Apple 12 and Apple 12 Mini are currently the preferred smartphone models, accounting for most of the two million Apple iPhone 12 devices sold so far. Sales of sports shoes, outdoor wear and men’s clothing picked up in the fashion category, while financial creation such as Flipkart Pay Later, no-cost EMI, Flipkart Axis Bank co-branded credit cards and others enabled customers to get easy credit are. Make high value purchases.
“There are 124 new cities/towns from where vendors transacted in the first 24 hours; These include Hingna (Maharashtra), Baghpat (Uttar Pradesh), Attingal (Kerala), Sambhal (Uttar Pradesh) and Deva (Uttar Pradesh) and others. “The top categories for marketplace sellers are grooming, mobile protection, home furnishing, household and women’s ethnic contemporary,” Flipkart said. E-commerce platforms like Amazon and Flipkart offer new launches and offers to woo buyers during the festive season. Events that are around Dussehra and Diwali.
Players see a major part of their annual turnover during festive sales and they make significant investments ahead of time to enhance their efficiencies and to be able to handle the spike in orders while ensuring a seamless experience for buyers and sellers. add features. . According to consulting firm RedSeer, e-commerce platforms are expected to exceed $9 billion GMV (gross merchandise value) during the festive season this year, as against $7.4 billion, a 23 per cent growth last year.
During the first week of the festive season, these platforms are expected to register a 30 per cent year-on-year growth in gross GMV to USD 4.8 billion. Gross GMV means the total value of Goods sold on the Platform before deducting cancellations or refunds.
The report highlights that in terms of categories, this festive season is expected to see a steady improvement in fashion in line with greater outdoor mobility of consumers and steady rebound of fashion/office wear.
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