We always hunger for holidays. But the e-commerce sites celebrate it. They are making an opportunity to make money out of it. Consumer buying behavior has changed drastically due to the pandemic Covid-19 and their priorities also changed.
The online business gained acceleration over the physical store sales. The major festivals in India come in the month of October and November. The major eCommerce platforms in India Flipkart and Amazon launch their offer seasons during this time. Flipkart gives us the ‘Big Billion Day Sales’ while Amazon brings us ‘The Great Indian Festival 2021’.
RedSeer, the Management consultancy in says that the eCommerce giants Flipkart and Amazon together registered a sale of over $2.7 billion and crossed $4.8 billion of Gross Merchandise Value (GMV) in the first week of sales 2021. The reports shared by the group point out that 40 million shoppers came from tier II and beyond cities
Mobile phone sales dominate the market. The fashion sale is coming back to track after vaccination and rise in economic level. The fashion giant Myntra, an integral part of Flipkart reported 6 lakhs over-purchase in the first hour itself, and nearly half of it came from the tier II and III cities. The eCommerce platforms target more value-conscious people and fascinate them with offers and discounts.
There observed a sale of $2.7 billion across e-commerce platforms during the first half itself and expecting another further $2.1 billion over the next 5 days as per Ujjwal Chaudhry, associate partner at RedSeer. More than 50% of the annual sales occur in the festive season. For boosting the sales during this time, they are managing their manpower, logistics, and infrastructure that can handle 3 times the volume.
For providing the customers seamless purchase experience, the warehouse, supply chain, and logistics are analyzed and planned well. The delivery time is planned to lessen by 5 hours compared to the previous year.
Apart from logistics and supply chain, the capital and credits are planned well to meet the festive rush. The fear of not losing the ‘limited period offers’ made people urge to purchase the wanted and unwanted items. The ‘Buy Now Pay Later(BNPL) scheme is introduced to is expected to contribute about 10-15% of sales says the consultancy. Online presence is ensured to showcase the product to the right people at the right time.
Loyalty is ensured only with proper customer service. The joyful experience is gained only if there is a perfect buyer-seller relationship. The business achieving attaining targets while the customers experience a happy and satisfied shopping experience.