After a brief lull, the online sale season is back in spite of the government’s directive against influencing the price of goods. Ecommerce players have found a loophole to continue showering discounts on customers without getting penalized by authorities.
Myntra’s EORS, a grand success
Describing it as one of the best end-of-season sales, Myntra’s CEO Ananth Narayanan said,
“The fourth edition of EORS has received phenomenal response so far. On the first day of the sale, we have seen installation of half a million Apps and 25 million visits to our platform with two million product orders by the end of the day. We also exceeded the 20x daily sales target.”
During the 2-day (2nd & 3rd July) event, the fashion portal witnessed:
- Products worth Rs.700 crore were added to the Myntra EORS’ wish list
- Revenue grew by 23X compared to non-sale days
- 30% transactions were carried out by new shoppers
- 3 million orders were placed with 2 million in the first day
- 7,000 orders per minute during peak time
- 90% of the revenue was generated from app
Narayanan also added,
“As always, the branded sports category has been doing exceptionally well and has clocked almost 3x of all sales across India of top sports brands per day. Basis the current traction, we have also exceeded all of offline sales put together for the top men and women wear brands as well yesterday.”
Flipkart rolls up sleeves for Big Billion Day 2016
That’s why without wasting any time, the ecommerce biggie has already started to work on its annual October sale event ‘Big Billion Day’. The etailer is looking to introduce new elements in this year’s edition.
Two of the alleged changes are:
Instead of consecutive days, the sale will be spread over the entire month
Last year’s Big Billion Day sale was held between October 13 and 17. It followed the conventional route, i.e. successive days for sale. But this year Flipkart is planning to spread out the event across October.
A source close to the development revealed,
“BBD was earlier planned for 15-16 October but Flipkart has preponed it to the first day/week of October. What’s being discussed right now is that the first BBD will be the big one, followed by medium and small BBDs.”
Pre-approved loans for buyers
In bid to increase sales and attract more buyers, the ecommerce leader may offer loans to online shoppers with ‘buy-now-pay-later’ option.
“Flipkart is in talks with several banks to disburse these loans, which will be underwritten by it. Flipkart is launching its loans product just to promote repeat purchases during BBD and win back the Metros,” disclosed one source.
Will Flipkart and Online Sellers call a truce?
To pull off a grand sales event like Big Billion Day, Flipkart would need sellers’ support. But with the ongoing tussle between the marketplace and vendors, will it ruin Flipkart’s big plans for October? Or will sellers grudgingly agree to all the terms & conditions and keep their listings active?