Flipkart, Amazon Festive Sale: 5 Cr Indians Will Buy Rs 47K Cr Of Products In 30 Days; Smartphones #1
According to forecast data from Forrester, for the period between October 15 to November 15 (festive sale period) the overall e-commerce sales in India are expected to be worth around Rs 47,000 crore ($6.5 billion).
Amazon and Flipkart also claim their festive sales, Great Indian Festival, and Big Billion Days respectively have garnered great responses.
Read on to know more…
The Forecast Predicts Fashion Sale to Drop in the Pandemic Festive Season!
Forrester, an American market research company predicts a sale worth $4.8 billion (Rs 35,000 crore approx) to take place from October 15-21 with a participation of over 5.5-6 crore online buyers. This is about 75% of the predicted sales amount in just the first week.
Out of the above-mentioned Rs 47,000 crore, 34% will be brought in by the smartphone category followed by 17% coming in from consumer electronics and computers, 16% from fashion, 14% from appliances, and 6% from homeware & furniture, and 6% from the grocery.
As the customers will avoid going out during this festive season the occasion-based apparel shopping will decrease. The fashion category will likely see a drop by 9% with respect to last year’s festive season, according to the forecast data.
With customers waiting for the festive season sale to upgrade their devices, smartphones sale is expected to rise by 26% and consumer electronics by 43%. This sales rise will be fueled by new phone launches in India.
According to Satish Meena, Senior Forecast Analyst, Forrester, grocery will arise as the fastest-growing category, with platforms like BigBasket, Grofers, JioMart, and more in India.
The year 2020 will also witness a 34% year-on-year (Y-o-Y) growth in online retail spending from $3.8 billion (approx Rs 28,000 crore) in 2019 festive month (September 25 to October 29).
Satish Meena, said in a Forrester blog post, “Since its launch in 2014, Flipkart has led spending during the festive month due to its strength in the smartphone and fashion categories, which account for around 50% of total online retail sales in India. This year, Flipkart has also launched 22 smartphone models since mid-September to maintain the lead.”
Amazon and Flipkart Festive Sale Made Many Vendors Crorepatis and Lakhpatis!
On Sunday, Flipkart had said that over 70 vendors turned ‘crorepatis’ and around 10,000 became lakhpatis. The firm cites this success to early access and the three days of its sale. Flipkart’s Big Billion Days sale went live on October 17 and will end on October 21.
According to Satish Meena, Amazon will depend on its Prime members to buy more frequently and in more categories during this month.
Amazon’s Great Indian Festival sale also went live on October 17. On the same day, Amazon had claimed that in just 48 hours of the sale, 1.1 lakh vendors received orders, opening with Prime early access on October 16. The e-commerce platform also claimed that sales worth Rs 10 lakh were recorded by over 5,000 sellers.
Meena added, “During festive month 2020, smartphone and fashion will account for 50% of total sales, allowing Flipkart to maintain the lead.”