E-commerce discounts keep online festivities in business

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Updated: October 29, 2015 10:06:23 AM

The ongoing e-commerce festival orchestrated by the E-commerce biggies continue unabated. The e-tailer Snapdeal has announced another sale called “The ultimate Monday sale” on November 2.

e-commerce industryIn the case of Amazon, its sales in India have grown four times during this festive season when compared to last year.

The ongoing e-commerce festival orchestrated by the E-commerce biggies continue unabated. The e-tailer Snapdeal has announced another sale called “The ultimate Monday sale” on November 2.

The sale promises to be a round-the-clock marathon with discounts as deep as 80%, the company said. According to Snapdeal, the 24-hour sale on November 2 will see new deals unlocked every hour from products across categories such as electronics, mobiles, home products and fashion. Rahul Taneja, vice president category management, Snapdeal said, “We have received a tremendous response from our customers for our series of Monday sales through the festive season. The Ultimate Monday sale promises to take the festive offers a notch higher with the widest assortment of products and brands across electronics, fashion and home categories on sale.”

The e-commcerce industry is expected to touch $70 billion by 2019 from $17 billion in 2014. The festive sale bonanza started last year with intense competition among the biggies – Flipkart, Amazon & Snapdeal – and this year the scale has got bigger. While both Flipkart and Amazon came up with mega sales between October 13 and 17, Snapdeal had a periodic discount sales on Mondays.

This festive bonanza has already brought in more than $300 million of Gross Merchandise Value (GMV) for Flipkart with close to two-third of it driven by the mobile segment. The homegrown e-commerce major termed their offers as a big success with 2015 sale being thrice that of last year in terms of volume.

In the case of Amazon, its sales in India have grown four times during this festive season when compared to last year. Amazon senior vice-president and CFO Brian T Olsavsky during an investor call, said “We’re really encouraged with what we are seeing, both on the customer side and the seller side. On the customer side, active customer accounts are up 230%.”

Snapdeal, claimed that it saw 17 times growth in GMV during the Electronics Monday sale on October 12, which had discounts on smartphones, laptops, other electronics and home appliances. “We are well on track to reach $100 million sales on our Electronics Monday Sale,” said Rahul Taneja, vice-president, category management, Snapdeal.

The competition among the e-commerce majors is a welcome sign, according to Ankit Nagori, chief business officer, Flipkart. In an earlier interaction with FE, he said such competition will only help in expanding the e-commerce segment in the country.

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