Sales increased by 16 per cent as a result compared to the same period last year. On October 8, this year, two of the biggest online retailers, Flipkart and Amazon, began their annual holiday deals. The platforms’ various promotions on high ASP (average selling price) products and simple financing choices like free EMIs contributed to the spike in demand, according to researchers at the consultancy firm.
E-retailers were able to better assess client demand and plan thanks to features like price-lock and pre-book that were provided by platforms. These features allowed customers to lock in pricing of high-value products like electronics before the sale began.
As per Redseer, the first day of the sale was estimated to have seen a seven-fold increase in sales over the usual period, and throughout the course of the four days, daily sales increased by an average of six times. To give an example, in the first 48 hours following the start of the sale event, 9.5 crore users visited Amazon.com. According to the company earlier this week, 75% of clients from tier 2 and tier 3 towns and beyond placed large bets on smartphones.
According to Flipkart’s initial data, people are spending money on items like electronics, clothes, appliances, and mobile phones.
The remaining days of the festive sale will probably witness a spike in sales in categories including fashion, beauty and personal care, and home goods, as per Redseer. While Amazon’s Great Indian Festival is anticipated to last for a month, Flipkart’s Big Billion Days are scheduled to conclude on October 15. Online retailers usually hold their holiday sales in stages from Navratri to Diwali. Redseer predicted that during the entire holiday season, e-tailers would bring in a combined total of Rs 90,000 crore in sales.(With inputs from TOI)
