The festive season is just around the corner, and the ecommerce industry is gearing up for a massive surge in sales. According to recent reports, ecommerce festive sales are expected to reach a whopping $12 billion this year, with quick commerce gaining significant ground.
Quick Commerce: The New Kid on the Block
Quick commerce, also known as q-commerce, is a relatively new concept in the ecommerce space. It involves the delivery of products within a short span of time, often within a few hours or even minutes. This model has gained immense popularity in recent times, especially among millennials who value convenience and speed.
According to a report by Datum Intelligence, quick commerce is expected to account for $1 billion of the total ecommerce sales this festive season. This is a significant jump from last year’s figures, and it’s clear that quick commerce is here to stay.
Ecommerce Giants Gear Up for Festive Sales
The festive season is just around the corner, and ecommerce giants Amazon and Flipkart are gearing up for their annual festive sales. The sales are expected to start on September 27 and will last for about a month, offering customers a wide range of products at discounted prices.
Amazon Great Indian Festival
Amazon has announced that the Amazon Great Indian Festival will start on September 27, and Prime members will get 24 hours of Prime Early Access. The sale will see new launches across categories, including smartphones, fashion & beauty, large appliances & TVs, consumer electronics, grocery, and more from top brands. More than 1.4 million sellers will be offering millions of products to customers on Amazon.in.
In terms of financing options, Amazon has offers from partner banks, such as a 10% instant discount with SBI debit and credit cards and credit EMI. Amazon is also offering Prime customers 5% unlimited cashback on shopping when they use their Amazon Pay ICICI Bank credit card, along with no-cost EMIs on both debit & credit cards.
Flipkart Big Billion Days
Flipkart has announced that The Big Billion Days will take place from September 27 to October 6, 2024, with early access for Flipkart Plus members starting on September 26. The sale will see deals by sellers on a range of products from top brands, including smartphones, home appliances, laptops, electronics, fashion, beauty, home, etc.
In terms of financing offers, Flipkart has partnered with HDFC Bank to offer customers 10% off on debit cards, credit cards, and EMI transactions. The Flipkart Axis Bank Credit Card will also offer 5% unlimited cashback, and customers can avail themselves of instant credit and no-cost EMIs with Flipkart Pay Later, along with daily cashback for customers using Flipkart UPI.
Meesho Mega Blockbuster Sale
Meesho has announced its Mega Blockbuster Sale, set to commence on September 27. The sale will see over 200,000 sellers and 120 million product listings across 30 categories.
Meesho Mall, which has been expanding its portfolio of ~1,000 national, D2C, and regional brands, has, in the last two months, launched brands like Liberty, BATA, Red Tape, W, Aurelia, Go Colors, and Twinbirds on its platform.
Myntra Big Fashion Festival
Myntra’s Big Fashion Festival will feature ~3.4 million styles, marking a 47% increase from its previous edition. It also said in a statement that the sale will see participation from more than 9,700+ leading brands across domestic, international, and homegrown labels.
In terms of financing options, the sale will offer an additional 7.5% + 5% off using Myntra’s co-branded credit card in association with Kotak Mahindra Bank. In addition to cashback from PhonePe, through financial banks like ICICI, Kotak, and Axis, shoppers can also avail themselves of up to 10% off while making their festive purchases.
Brands in Action on Amazon and Flipkart
As the festive season is just around the corner, various brands are gearing up to make the most of the opportunity. Here’s a look at what some of the top brands are doing:
Electronic Brands Launch Direct Price War
Electronic brands like Samsung, Xiaomi, and LG are offering aggressive discounts on their own online stores to clear unsold stock. These offers often surpass those available on e-commerce giants Amazon and Flipkart. This strategy helps brands save costs associated with offline retail and effectively liquidate inventory during the festive season.
For instance, Xiaomi is selling its Redmi Note 13 Pro with exchange bonus and higher value instant discount at its own e-store, whereby the net discount is about Rs 3,000 more. Samsung is sweetening the deal on a host of products such as Galaxy Z Flip 6, Fold 6, S24, and Book4 on its e-store with offers like higher exchange value, assured buyback, additional warranty, bank discount on all cards unlike specific ones in marketplaces, and newer colors.
LG is offering exchange facility, additional discount for registered users, and through coupon codes and flash sales on its India e-store. Whirlpool is offering easy returns, express installation, and lightning deals.
Wakefit and Boat Expect Double-Digit Growth
Chaitanya Ramalingegowda, co-founder of Wakefit, said consumer demand has steadily rebounded over the past 10 months, raising high expectations for the festive sales. He expects double-digit growth, with key days seeing sales up to 10 times the usual levels.
Gaurav Nayyar, chief operating officer at homegrown wearable and audio products brand Boat, said the company is seeing great traction on quick-commerce platforms and is actively working with all the large quick-commerce platforms. Having said that, e-commerce remains the largest channel and critical to focus on these platforms to drive revenues.
Farmley and Scapia Expect Significant Contribution from Quick Commerce
Abhishek Agarwal, co-founder of snacking brand Farmley, said the platforms have been growing quite rapidly, and along with that, they are looking to grow their category share as well. It is unlocking market access for them.
Anil Goteti, founder of the travel-focused fintech firm Scapia, said for the upcoming festive and travel season, Scapia is projecting a 50% growth in international travel. This surge will be further fueled by a 5-6-fold increase in credit card spending on online festival shopping, through which customers will earn rewards redeemable for travel bookings on the app.
Meesho’s Preferred Categories
Meesho’s preferred categories are fashion, home and kitchen, BPC, electronic accessories, as well as office and stationery. Popular searches include smartwatch, water bottle, ready-to-wear sarees, shoe rack, nail polish, and lunch bags.
Conclusion
The ecommerce industry is expected to witness a massive surge in sales this festive season, with Amazon, Flipkart, Meesho, and Myntra gearing up for their annual festive sales. With a wide range of products at discounted prices and attractive financing options, it’s clear that this year’s festive season is going to be a bumper one. So, get ready to shop till you drop!
