(BENGALURU) Affordability seems to be the festive season theme for Flipkart this year.
The ecommerce bigger expects gross sales from its upcoming 5-day Big Billion Days (BBD) annual sale to double from last year’s event to over $1 billion. At least half of this is drive by payment new schemes that make buying even expensive products online feasible for shoppers.
- Flipkart has partner with Amitabh Bachchan, Deepika Padukone and Virat Kohli to bring in its flagship sales event.
- The company expects gross sales from (BBD) annual sale to double from last year’s event to over $1 billion.
- Amazon India and Flipkart are looking to clock about $2.5-3 billion each in GMV during the festive period.
Walmart _owned Flipkart recently pumped in about Rs 3,463/- crore into its main ecommerce unit, Flipkart Internet, signal a full coffer for the coming sale season that begins next month. Flush with cash, the company is not holding back on marketing efforts, and has partnered with some of India’s biggest superstars celebrity including actors Amitabh Bachchan and Deepika Padukone and Virat Kohli to bring in its flagship sales event. “We are looking at multiple the number (gross merchandise value or GMV) we had done last (BBD),” Smrithi Ravichandran, senior director in Flipkart, told “The main theme this time is affordability and more than 60% of this GMV will be driven through all the affordability instruments we offer.”
Over the many years, Flipkart has launched a slew of affordability initiatives to help customers purchase high-value products. This year, these instruments are expected to add close to 2 million new shoppers to the Flipkart platform over the 1-month festive sale period.
Some of these so-called affordability instruments include no-cost EMI, debit card EMIs, product exchange offers, buy-back guarantees, a buy now pay later feature, and cashless credit of up to ——– 60,000. previous year around one third of the company overall GMV during the festive season was driven by such affordability instruments.
According to marketplace industry sources, both Amazon India and Flipkart are looking to clock about $2.5-3 billion each in GMV during the 30-day festive period. Flipkart (BBD) is slated for October 10-14 and Amazon India is expected to begin its flagship sales around the same time. Experts are tracking the space expect this year’s festive season to fetch signifiy sales for ecommerce companies as the post GST and post-demonetization dust has settled and customers appear ready to spend again.
Also, as Flipkart’s and Amazon India double down on offers and discounts, daily shipments are expected to surge past 3 million during the festive season, up from an average 2 million during the corresponding period last year, recently reported citing industry experts. “Ecommerce companies will do much better in this year when compared to last year turnover, with a minimum increment of 30-40%,” said Satish Meena, senior forecast analyst at Forester Research.