The most anticipated e-commerce sales of 2017 are here and CashKaro.com has key industry insights.
Increase In Large Appliance Sales
Noticeable off the bat is the 850% increase in sales of Large Appliances like Televisions, Washing Machines and Refrigerators. E-commerce sites like Amazon.in and Flipkart among others are resorting to using four key measures to push sales: Free Installations, No-cost EMIs, Bank Credit Card Offers and Exclusive Brand Tie-ups.
Example: Amazon.in has tied up with heavy appliance manufacturer BPL to provide exclusive discounts and free installations on televisions, refrigerators and microwaves.
Tata Cliq is emerging as a strong contender among top retailers in multiple product categories. This can be attributed to competitive prices, which seem to be reaching beyond brand loyalties and is converting users. For Example: A 32 Inch Samsung, HD Ready LED TV worth Rs. 29,990 was sold at Rs. 16,920 after sale discount and CashKaro Cashback.
Best Selling Categories For Retailers (Day 1)
- Amazon: Electronics and Computers
- Flipkart: TVs and Large Appliances
- Shopclues: Home and Kitchen
- Paytm Mall: Mobile phones
- Tata Cliq: Mobiles and Electronics
- Myntra: Sports Shoes
- Jabong: Clothing
Amazon, Jabong, Flipkart, PayTm Mall have all experienced 10X growth in the above mentioned categories.
Category Wise Rise In Sale on CashKaro: Normal Days vs. Festive Period (Day 1)
- Mobiles and Electronics: Over 1200% Increase
- Fashion: 700% Increase
- Home and Kitchen: 400% Increase
Additional Factors Aiding Sales
The rise in sales is being powered by more than just big discounts; additional benefits being offered by e-commerce sites are also aiding buyer decisions. Trust in e-commerce brands is a non-tangible but crucial factor that has improved sales. Customers have clearly exhibited more faith in the industry by purchasing large appliances.
Retailers too are providing the right push to customers. For example: Flipkart offers extra discounts on payments through PhonePe wallet and is also seeing a spike is sales of Gold Coins thanks to a 10% Instant Discount for those using SBI cards. Similarly, Amazon gives exclusive discounts and Cashback to Amazon Pay Balance users and has partnered with HDFC and other banks to give no-cost EMIs to users.
Another popular trend is offering exchange bonuses on large appliances like Washing Machines, Air-Conditioners etc. This gives customer’s an extra incentive to get rid of their old appliances and get new ones at a lower price.
CashKaro.com Co-Founder Rohan Bhargava Weighs In On Festive Sale Trends: “Flipkart’s Big Billion Day and Amazon’s Great Indian Sale mark the beginning of India’s Online Sale Season. This year seven big e-commerce sites launched their sales simultaneously. This is great news for consumers who are now spoilt for choice. The raging bull for this sale season has been the TVs and Large Appliances Category, which witnessed a year-on-year increase of over 850%.”
“Most transactions however have been driven by the Clothing Category, followed closely by Personal Care and Home Furnishing. These figures are just from Day 1 of the big sales that went live today. Day 2 will likely be even more exciting since all retailers will launch their Mobile Phone sales as well. Like every year; this is a key category that rakes in a high volume of sales. These sales numbers will play a crucial role in determining which e-commerce site comes out on top, this Diwali.”
Purchases Fueled By Cashback
CashKaro.com offers extra Cashback on all purchases made through their website, this helps shoppers earn while they spend. Since this Cashback is paid over and above all sale discounts, CashKaro users always get the best deal. These Cashback deals have substantially aided sales. A brief analysis of sales figures revealed the best received Cashback deals as on Day 1 of the festive sale:
- Jabong – T-shirts – 40-70% Off + Rs 250 CashKaro Cashback
- Myntra – Sport Shoes – Flat 50% Off + Upto 6.5% CashKaro Cashback
- Tata Cliq – Powerbanks – Flat 60% Off + 8% CashKaro Cashback
- Shopclues- Kitchen products – Flat 70% Off + 8.25% CashKaro Cashback
More To Follow..
Almost anyone who shops online looks forward to this sale period and buyers often postpone purchases till the sale period. The period around Diwali has always been a high volume period for the e-commerce industry and this year promises to see a steep rise in sales. If Day 1 is a sign of how things will pan out, we can expect a lot more in the coming days, especially since Mobiles which is one of the hottest selling categories is yet to go live.