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 is the latest one that managed to pull off a successful sales event. The fashion etailer’s 2-day End of Reason Sale (EORS) revenue doubled this year compared to previous EORS editions.
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:
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.”
After a spate of bad news, the encouraging figures of Myntra’s End of Reason Sale must have lift spirits of parent company Flipkart.
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.
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.”
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.
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?
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