Sales at e-commerce platforms boom this festive month
During the festive season, e-commerce platforms have paid equal attention to all categories, including groceries
Smartphones, consumer electronics, apparel and daily necessities have sold like hot cakes on e-commerce platforms this year as its share in the overall sales pie touched new highs in the first fortnight of this month, according to market trackers and companies, The Economic Times reported. According to a research firm, Counterpoint Technology, the Covid-19 pandemic, supply shortage and more days of pre-Diwali sales turned the tide on online channels’ favour.
During the first fortnight, the share of smartphone sales online increased to about 60% from around 55%, the market research firm’s early estimates showed. Televisions sales increased to 40% from 31% in the same period last year. Though refrigerators, air-conditioners, washing machines and kitchen appliances inclined from 6-8% to 9-10%, according to industry executives.
Panasonic India reported that several customers from tier-3 towns purchased expensive products online as the reach of e-commerce is expanding. It added that reach, coupled with behavioural changes accelerated by Covid-19 is driving adoption. For example, online AC sales have doubled this month over last year led by premium models.
The two dominant e-commerce marketplaces, Amazon India and Walmart owned Flipkart, kicked off their festive season sales events from October 2nd and unlike the previous years they are running it for longer this time around. During the first two to three days, they are also offering higher discounts.
FMCG sales increases on e-commerce platforms
During the festive season, e-commerce platforms have paid equal attention to all categories, including groceries, instead of typical focus on electronics and apparel, according to Parle Products.
The share of online channels in the overall sales mix of consumer good makers has tripled since March last year, as lockdowns led to thousands of consumers clicking online for essentials and non-essentials. E-Commerce accounts for 6-10% of their total sales currently, as compared to 3-5% a year ago.