E-commerce platforms Amazon and Flipkart witness massive sales on day one of the festive season sale 2019 that has crossed the last year’s numbers. The outstanding beginning, to an extent, should relieve any fears of an impact from the economic slowdown.
Earlier, the e-commerce giants faced hurdles for their festive sales when CAIT (Confederation of All India Traders) asked the government to put a blanket ban on such massive festive sales.
The online big shots host their exclusive sales, that is, Amazon’s Great Indian Festival and Flipkart’s Big Billion Day, each year just before the commencement of the festivities.
According to a statement by Flipkart, the company said that it registered two times growth in sales on day one of The Big Billion Day 2019 in comparison to the last year’s festive sale’s opening. Amazon, on the other hand, said that the customers who shopped on the e-commerce platform this Great Indian Festival is more than ever with 91% of the new consumers hailing from Tier II & Tier III towns.
Expansion of credit
It looks like this year Bharat has given a great pump to the e-commerce sales in India. Amazon claimed that it saw its first most massive day of sign-ups for its premium Prime customers with 66% hailing from Tier II & Tier III towns. Flipkart stated that the amount of transacting consumers from Tier II and beyond has doubled over The Big Billion Days 2018 on the first day.
The sale this year also witnessed the expansion of credit options with 100% more Amazon customers opting for EMI over the previous year with 75% of the new credit customer base coming from Tier II & II cities. Flipkart also said that the consumers opting for affordability options spent 2.5 times more than other consumers.
At war for mindshare and wallet-share of the online buyers, Amazon and Flipkart have said that there has been a rise in sales across all the categories including fashion, smartphones, large appliances, grocery, and furniture.