Despite concerns about inflation and discretionary spending, millions of buyers went online on Friday to take advantage of special bargains offered by e-commerce companies such as Flipkart, Amazon, Meesho, and Myntra. Experts say that early trends show that consumer demand is higher than what online businesses thought it would be.
The ninth iteration of “The Big Billion Days,” Flipkart’s annual flagship event, had 1.6 million concurrent users on the app each second. Flipkart’s main rival, Amazon.in, also announced a record-breaking 36 hours of shopping with Prime Early Access and Day 1 of the Great Indian Festival.
According to Flipkart, the number of Flipkart Plus customers who used Early Access during TBBD 2022 increased from the previous year’s event. The majority of these clients came from tier 2 and above cities. Early indications suggest that overall consumer enthusiasm about holiday shopping is positive. Mobile phones, major appliances, fashion products, furnishings, and household appliances are all in high demand.
“This year’s event is noteworthy for a variety of reasons,” said Manjari Singhal, Flipkart’s senior director of customer, growth, and events. “These include the expanding strength of our seller and partner ecosystem, as well as innovations that have enabled consumers to get access to greater diversity and affordability.” Laptops, smartwatches, and truly wireless earphones were the most popular categories, with people eager to make high-value electronic purchases online. The BGMH (general merchandise and household) sector gained traction as well. People were also very interested in the beauty and fragrance categories. Kajal was the most popular product, with one sold every second.
Excited with increased user
According to Flipkart, many senior executives personally deliver items to customers. After three years, this was the first in-person TBBD for staff. Amazon.in, on the other hand, had the highest number of single-day Prime sign-ups – 1.9 times more than the previous year – with 68% coming from tier 2 and 3 cities.” .
We are humbled by the increased number of new Prime member sign-ups and customers buying across categories,” said Manish Tiwary, vice president, and national manager, Amazon India Consumer Business. Small and medium enterprises, start-ups, artists, and female entrepreneurs offered the most products and sold approximately 1 million unique products to customers in the first 36 hours. During the 24 hours of “Prime Early Access,” there were 1.75 times as many sellers who signed up as on a normal business day.
In addition, there was a 90% increase in flight bookings by Prime members compared to a typical business day. One of every four purchases was made on EMI, while two of every three products were offered on no-cost EMIs. Shopsy, Flipkart’s low-cost e-commerce platform, gathered the majority of its clients from tier-2 cities and beyond.
The most popular items were sarees, men’s t-shirts, and headphones. Shopsy, which debuted in July of last year, just surpassed 100 million users. The majority of the orders came from New Delhi, Bengaluru, and Hyderabad. Berhampur, Howrah, Lucknow, Kolkata, Chennai, Jaipur, Karnal, Patna, Bhubaneshwar, Visakhapatnam, Surat, Agra, and Ghaziabad were also driving demand.
Flipkart in tier-2 cities
Flipkart’s foothold in tier-2 and smaller cities has grown dramatically. These regions supply a rising number of its vendors and kirana partners. This year, up to 1.1 million businesses, including those on Shopsy, took part in Big Billion Days. In comparison to last year’s edition, TBBD 2022 saw increased involvement from kirana outlets through Flipkart’s kirana delivery program. The number of kiranas collaborating with Flipkart for TBBD deliveries increased from 27,000 in 2019 to 200,000 in 2022.
According to RedSeer, e-commerce retailers headed by Amazon and Flipkart are predicted to capture $11.8 billion in sales this holiday season, more than double the pre-pandemic record of $5 billion in 2019. This year’s figures are expected to grow by 28% over 2021 when festival season revenues totaled $9.2 billion.
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