Flipkart, Amazon eye 20-25% sales growth during festive shopping season | News
E-commerce giants such as Flipkart and Amazon are expected to achieve a growth of 20-25 per cent in their festive season sales this year, based on the initial response observed during the first three days of sales, The Economic Times reported, quoting data from Datum Intelligence.
From September 26 to 28, online retailers experienced approximately a 26 per cent increase in sales compared to the previous year, amounting to around Rs 26,500 crore, according to Datum Intelligence, which specialises in tracking e-commerce data. The firm projects total sales of $12 billion during this festive season, reflecting an estimated growth of about 23 per cent, inclusive of discounts and returns.
Flipkart, a major player in the e-commerce sector, appears to be on course to meet its internal sales targets for the festive season based on the performance observed in the first three days. The initial day of sales was exclusively available to paid VIP and Plus members, akin to Amazon Prime, the report said.
Strong start to festive sales
The initial week of the festive sale, featuring Flipkart’s Big Billion Days and Amazon India’s Great Indian Festival, is critical within the 45-50 day sales period. This week establishes the momentum for the remainder of the festive season leading up to Diwali. Numerous brands in various sectors, including luggage, electronics, accessories, and household goods, have reported significant growth compared to their typical daily sales, the report said.
The report quoted Satish Meena, advisor at Datum Intelligence, as saying that sales during this period were dominated by mobile devices, electronics, consumer durables, and home and general merchandise, which together represented 79 per cent of total sales.
Additionally, categories such as fashion, grocery, beauty, and personal care experienced a surge, with sales increasing two to four times, Meena said.
Orders skyrocket from Day 1
Vidit Aatrey, co-founder of Meesho, an e-commerce marketplace targeting smaller cities and towns, shared on X on Saturday that by 2 PM the previous day, they had already exceeded last year’s record for the highest number of orders placed on Day 1, and by the end of the day, that figure had more than doubled.
Meena noted that while sales in the mobile, consumer durables, and home segments met expectations, other categories such as fashion and beauty and personal care also saw significant increases. The mobile category is projected to grow by 19 per cent in terms of value, he said as quoted by the report. Smartphones, large appliances, electronics, and fashion items are the primary sales drivers during the festive season. With the availability of fast delivery options, the sales mix is evolving across different platforms.
First Published: Sep 30 2024 | 12:05 PM IST
