Home grown e-commerce major, Flipkart has claimed that shoppers enjoyed total savings of R1,000 crore during its just concluded festival sale – the Big Billion Days sale - during which it sold 15.5 million units during the five days from...
Home grown e-commerce major, Flipkart has claimed that shoppers enjoyed total savings of R1,000 crore during its just concluded festival sale – the Big Billion Days sale – during which it sold 15.5 million units during the five days from October 2 to 6.
In a thank you note to the shoppers that FE reviewed, Flipkart also claimed that shoppers also saved R150 crore in total through their no cost EMI and exchange offers scheme. Binny Bansal, CEO, Flipkart said, “We have had a flawless Big Billion Days this year.
Starting from marketing, merchandising to supply chain and technology, all teams came together to deliver and the results have been stunning. Some of the key landmarks of the sale was when we made a history in the Indian e-commerce by crossing R1,400 crore in a day.”
Providing details of the festive sale, Flipkart said one headphone was bought every second while 20 units of women’s tops were sold every minute. Mobile handsets which are generally the top selling item for the e-commerce players saw Flipkart dispensing 2.5 million smartphones during the sale period. “More smartphones sold in five days than entire sales of mobile phones in India in a week,” the company claimed.
Flipkart said on Friday that it has crossed its internal target by 40%. About 99% of all its units were above the selling price of R200 and 95% above the selling price of R300.
The festive sale by the e-commerce players in 2016 witnessed fierce competition among the key players – Flipkart, Amazon and Snapdeal, where all the three almost simultaneously ran their shopping bonanza.
Amazon claimed that it sold over 15 million units during its Great Indian Festival sale and it was three times bigger than the last year. The global online retailer also claimed that it received orders from 90% of the pin codes across India.
According to RedSeer Consulting, a research and advisory firm focused on the consumer internet market, the gross merchandise value (GMV) for the e-commerce industry during the festive week was around R6,500-7,700 crore with estimated 35-40 million units sold.
RedSeer Consulting CEO Anil Kumar, said, “Our research shows that the ongoing festive sales week has proved to be a tremendous success for e-tailers. Customers, both regular shoppers and first-timers, have come online to shop in millions, from across the length and breadth of the country. As a result of this bumper sales performance, we see the industry being on track.”
This sales performance comes at a critical period for the Indian e-tailers, as growth in the sector had stagnated over the last couple of quarters. The festive sale also comes in the backdrop of the DIPP regulations which has barred the e-commerce from offering deep discounts and restricting the sales from a single seller to 25%.
According to RedSeer, the industry GMV for the entire festive month of October 2016 is expected to be R11,000-13,000 crore.
– P P Thimmaya