Update on 11th September, 2019: Flipkart has officially announced that its flagship event “Big Billion Days” would be held from September 29 to October 4. The sale starts from midnight of September 29 and Flipkart Plus members will have 4-hours early access to the event.
Flipkart also offers an instant discount of 10% for AXIS Bank debit and credit cardholders and also ICICI credit card customers. During the 6-day event, Flipkart is also offering a 10% instant discount and 5% unlimited cashback for Flipkart Axis Bank co-brand card customers.
On September 29, consumers can avail offers on products across Fashion, TVs & Appliances, Home & Furniture, Beauty, Sports, Toys, Books, Smart Devices, Personal Care Appliances, Travel & more.
The offers on Mobiles and Electronics and Accessories would be disclosed from September 30.
Original Story Follows:
Flipkart is all set to kick off the festive season in September with the “Big Billion day sale 2019” which is scheduled from September 29 to October 2. With Diwali, just around the corner, the Walmart-owned e-retailer is hoping to cash in on the festive season. Although Amazon is yet to announce the official dates of the “Great Indian Festival sale 2019”, it did inform the sellers to be prepared for it. Even though the country’s economy seems to slow down, the e-retailers are confident that it won’t impact the customer’s buying pattern and are indeed banking big on the Diwali sale. But analysts predict the rate of growth to be on the lower side as compared to last year.
Amazon and Flipkart banking big on Diwali Festive season sale
Both e-retailers Flipkart and Amazon contribute a major chunk of online festive sales accounting to 80-90% of online festive sales. Amazon and Flipkart have exclusive partnerships with third-party brands across various segments such as Smartphones, fashion, large electronics, appliances and more. Manish Tewary, VP Amazon India is optimistic about the festive season sale and expects to double down as compared to the previous quarter. He further said that Amazon would be launching a range of new products during the sale event.
Online Sales Estimates presents a grim picture during this festive season
Even though companies and brands are confident about witnessing a good festive season sale, few market research executives are skeptical about it. The sales statistics do present a clear scenario of what to expect this festive season. According to Market Research companies Forrester and RedSeer, e-commerce sales grew by a whopping 33% during the last year’s festive season. However, Forrester’s senior forecast analyst Sathish Meena predicts the sales growth to be 20%, a considerable decline of 13% as compared to the previous year.
Many brands are worried about the dip in consumer average spending. The offline retail sector has been hard hit by this phenomenon and recorded only single-digit sales. The old stock of fashion merchandise gets piled up in online stores leading to additional discount offers. All in all, it would impact the margin of profits for online stores.