India’s biggest online retail firm Flipkart plans to hold its annual flagship Big Billion Days sale from 20 to 24 September this year, also aims to more than double sales from the five-day event in comparison to last year.
This will soon be the fourth edition of Flipkart’s Big Billion Days sale, which was first started by the e-commerce firm in October 2014 and has been partially inspired by the Singles Day sale that is held by China’s Alibaba team every calendar year.
During the five-day occasion, Flipkart is predicted to woo new customers with deep discounts, no-cost EMIs as well as other brand new offers like debit card EMIs.
Arch rival Amazon India is also predicted to hold its Great Indian Sale around the same time in September in what will be the biggest show down in Indian e commerce, which has effectively converted into a two-horse race in between Flipkart along with the American e commerce giant.
According to a top firm executive, Flipkart will aim to grow earnings by “just two to 3 times” in contrast to last year’s numbers. This past calendar year, Flipkart had established product earnings of at least Rs3,000 crore (or close to $500 million) during the five-day occurrence, Mint noted about 8 October 2016.
If Flipkart will not figure out how to hit on those ambitious targets, and sometimes even get near to those amounts, it would place Big Billion Days in the same league while a Singles Day sale.
“The Big Billion Days numbers which we are looking for this past year–coming on the back part of past year which itself was a very successful BBD–we are talking about a (figure that is) 2x to 3x of this,” said Smrithi Ravichandran, ” a senior director at Flipkart.
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“We’re in an industry in which your competition is cut throat also it is effectively a fight among two players… we would like to be certain that people widen our gap with all our closest competitor,” Ravichandran extra.
Earnings during Big Billion Days would generally be driven from important categories including as smartphones, significant appliances and also the newly launched furniture business, as well as fashion in which Flipkart is currently a market leader, including earnings from its Myntra and Jabong units, Ravichandran said.
“The prices and discounts will soon be there, no two ways about it…this year we have also added new features like buy back warranty and debit card EMIs,” Ravichandran said. “We’re hiring rapidly on both the customer support front as well as the distribution chain side (for BBD)… a whole lot of those hiring will not merely function as BBD, but also for lots of new differentiated offerings that individuals will launch post-BBD.”
Buoyed by its mammoth fundraising in April and July as it collectively raised close to £ 3 billion, Flipkart is yet again expected to guess that the house on Big Billion Days as it seems to be to widen its lead on Amazon India.
Flipkart, which has been started 10 years ago by Sachin Bansal and Binny Bansal (not associated), has raised roughly $2.8 billion this year in two separate tranches from the likes of SoftBank, China’s ten-cent, Microsoft, and eBay.
Flipkart will venture into the Big Billion Days flush with funds and a war chest of £ 4 billion–a far cry from last year when it had been under tremendous force to pull off a successful Big Billion Days in order to raise more capital.
“Our emphasis this year is to ensure a high uniqueness quotient to our own selection over categories. We are completely ready to process a billion wishes in time during India’s biggest event of this season.