Festive season offers on e-commerce platforms fell on the third day of the biggest annual online sales due to sellers already overachieving their target with an over 25-30 per cent surge in sales by value compared to same period a year ago.
Sales of LG India grew by 30 per cent on back of televisions, washing machines and refrigerators. Samsung and Xiaomi sold record numbers of televisions and smartphones, while Flipkart sold over 4 lakh units of Apple’s iPhones in this period, industry executives told ET.
Brands sold products of the premium segment more than entry to mid-level. Myntra on the opening day recorded over 100 per cent growth in demand for categories like beauty, personal care and jewellery.
Avneet Singh Marwah, Chief Executive of Super Plastronics, said the players capitalised on the traffic in the first two days for maximum business. “Since brands have achieved healthy numbers, they have reduced discounts from Day 3. Hence, prices have gone up by more than 5-7 per cent,” he said.
Samsung increased the price of its 32-inch smart TV to Rs 11,990 from Rs 9,999 on the third day. Additional exchange bonus offered on several flagship smartphone models also disappeared.
Pankaj Rana, LG India business head, online and D2C business, said all indicators of consumption are positive after several months of impact due to macro-economic issues. "A positive mood is set for Diwali shopping," he said.
Flipkart and Amazon started their festive sales, Big Billion Days and Great Indian Festival, respectively, on October 8 with early access for member customers on October 7. Other platforms such as Myntra and Reliance Retail’s Ajio and Jiomart too started their sales.