Ease of Doing Business for MSMEs: MSMEs and other sellers on e-commerce platforms and social commerce platforms, which have enabled about $2.7-billion worth gross merchandise worth (GMV) throughout the initial 4 days of festive sales, are supplying extra discounts for greater sales volume. Sellers on platforms such as Amazon, Flipkart, Meesho, and so on., stated they are offering up to 40 per cent or more extra discounts on the back of “a favourable perspective of forecasted volume sales and growth during the upcoming festive season,” management consulting firm RedSeer stated in its report on the initial week of the festive sale.
In a survey of sellers across e-commerce and social commerce platforms in September, the majority of respondents stated they are offering extra discounts of 30-40 per cent followed by respondents who are supplying discounts involving 20-30 per cent. For instance, the survey noted that on an e-commerce platform (with out disclosing its name) 32 per cent respondents claimed supplying 30-40 per cent extra discount followed by 21 per cent respondents supplying 20-30 per cent extra discount, 20 per cent supplying 10-20 per cent discount, 19 per cent supplying more than 40 per cent discount, and so on.
Amazon and Flipkart had launched their annual festive sales on October 3, 2021. While Flipkart’s Big Billion Days would conclude on Sunday, Amazon’s Great Indian Festival sale would last for a month. Meesho’s Maha Indian Shopping League was scheduled from October 6 to 10. Importantly, the report noted that the initial 4 days of the festive week last year accounted for 63 per cent of the all round festive week sales vis-a-vis this year’s about 57 per cent of the projected sales. Smartphones had contributed about 50 per cent of GMV throughout the initial 4 days of sales.
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“With the festive sales lasting longer than last year (9 days compared to 7 days), we are observing the customer demand being more spread out across the period than being concentrated in the first half of the festive week. To that tune, we have observed sales of around $2.7 billion across e-commerce platforms and we expect another further $2.1 billion over the next five days,” stated Ujjwal Chaudhry, Associate Partner, RedSeer.
According to Amazon, its more than 8.5 lakh sellers in India such as more than 75,000 neighborhood shops from 450 cities and other sellers beneath many Amazon programmes such as Amazon Launchpad, Amazon Saheli, Amazon Karigar are participating in the sale. Walmart’s Flipkart had last month stated that more than 1 lakh kiranas and all round more than 3,75,000 sellers from across India would participate in the Big Billion Days. It plans to have 4.2 lakh sellers on its platform by December 2021.