FLIPKART FESTIVE SEASON SALE
At zero dark 100, Flipkart to fire up quick commerce in festive season
Flipkart is set to open 100 dark stores before the Big Billion Days sale, entering the quick commerce arena. Competition with Zepto, Blinkit, and Swiggy Instamart intensifies during the festive season. Quick commerce growth expected to drive demand with focus on fast deliveries and expanded product offerings.
Flipkart in Q-fest; AI upskilling
Happy Monday! Flipkart has upped the quick commerce ante ahead of crucial festive season sale. This and more in today’s ETtech Morning Dispatch.
Domestic PV wholesales up 3% at 3.4 lakh units in June: SIAM
Passenger vehicle wholesales in India increased by 3% to 3,37,757 units in June 2024, according to SIAM. Two-wheeler wholesales rose 21% to 16,14,154 units, while three-wheeler wholesales saw a 12% increase to 59,544 units compared to June 2023.
Price rise takes sheen off gold, Q1 demand dips 15%
In the April-June quarter, India's demand for gold dropped by up to 15% compared to the previous year, largely due to soaring prices deterring consumers. With fewer auspicious wedding dates in July, jewellery sales haven't seen a significant uptick, although some regions experienced sporadic increases during the Rath Yatra festival. Gold prices have risen sharply to around ₹73,000 per 10 gm, up 15% from the beginning of 2024. Jewellers are cautiously optimistic, expecting a potential revival in demand during the upcoming festive season and noting a shift towards investment in gold amid subdued jewellery purchases.
On this season of corporate earnings, Nifty50 companies likely to give solid show
Nifty 50 cos expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.
Online discounts to rain heavy from July, ease dry spell of electronics, apparel cos
Brands are gearing up for a surge in online discounts and promotions starting this month, aiming to clear unsold inventory ahead of the festive season. Expectations are high for the discounts to be the steepest since Covid-19, particularly in categories like smartphones, electronics, and apparel, which have faced sales pressure in the first half of the year. Multiple sales events are planned by marketplaces like Amazon and Flipkart, including Prime Day and Independence Day sales, extending till Diwali.
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Auto sales muted as extreme heatwave cools demand in July
Vehicle registrations in June were nearly flat, up just 0.73% from the previous year, with 1,895,552 units registered. Extreme heatwaves and delayed monsoons dampened retail sales, notably impacting two-wheelers and passenger vehicles. Despite optimistic forecasts for the monsoon season, the auto industry faces challenges, including high inventory levels and subdued market sentiment.
This festive season, mission is possible: Companies to stockpile weapons of mass consumption
Manufacturers are gearing up for a surge in demand, anticipating a boost in sales for smartphones, refrigerators, wearables, and two-wheelers during the upcoming festive season. The industry is optimistic about growth, especially in rural India, with expectations of exceeding previous sales records.
Car sales lose pace in June, SUVs stay in front
Passenger vehicle sales in India remained sluggish for the third consecutive month in June due to a high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from a year earlier but slightly declined from May, with 340,784 units sold compared to 328,710 last year. SUVs comprised 53% of sales.
Jewellery and fashion retailers hope for demand boost during festive, wedding season
Fashion and jewellery retailers are optimistic about increased demand during festivals and the wedding season in the latter half of the year. A good monsoon is expected to boost consumption among those in the agrarian sector. The mass segment suffering due to cautious spending behaviors. Retailers are concerned about flat demand growth and are closely monitoring the upcoming Union Budget for industry implications.
More worries for China, sales at big e-commerce festival drop for first time
This year the shopping festival failed to stir up much excitement among shoppers, industry experts said, even as major platforms extended offers to a weeks-long period to woo consumers who have been tightening their belts amid a gloomy economic outlook.
Auto sales enter slow lane in May, expected to bounce back in the festive season
In May, automobile sales slowed down due to heatwaves, election uncertainties, and a high base effect. Maruti Suzuki's sales grew 4.4% year-on-year, but this was lower than the 13.8% growth seen in May 2023. Hyundai Motor India and Tata Motors also saw modest growth, while Mahindra and Mahindra and Toyota India experienced significant increases in sales. Industry leaders expect a sales rebound post-election and with a good monsoon forecast. The auto sector's growth aligns with India's 8.2% GDP rise in 2023-24.
Gold demand expected to primarily revolve around festive period: Kavita Chacko, WGC
After a generally weak March and April, gold demand was resurgent ahead of and around the Akshaya Tritiya festival on 10 May. Considered one of the two most important days for buying gold traditionally, anecdotal evidence suggests that demand exceeded expectations, with strong activity observed in both urban and rural areas; some industry participants even hinting at record buying in value terms.
Back-to-school season spurs surge in retail and e-commerce sales
As students gear up for the new academic year, retailers and stationery companies prepare for a surge in demand during the April to June peak back-to-school shopping period. This significantly boosts sales for brands like ITC and DOMS, laptop manufacturers such as Dell, Lenovo, and Samsung, and retailers like Reliance Retail's Smart Bazaar stores, with sales increasing fivefold according to industry experts.
Expect 30-40% growth in air conditioner sales this year: B Thiagarajan, Blue Star
B Thiagarajan, MD of Blue Star, discusses the growth and outlook of the AC industry for FY24, including unexpected growth in March and projected growth in April, market hold up post 2023 summer, potential for India to overtake China by 2040-2045, consumer finance trends, and capacity planning to meet increasing demand.
Platforms see scorching summer sending ecommerce sales soaring
Early summer heatwave boosts online demand for cooling products, driving significant growth in ecommerce sales. The surge in appliance sales leads to concerns of supply shortage. Offline markets also witness substantial growth in cooling-related appliance sales.
Ecommerce clicks dip in December, triggering growth concerns
Across categories—from electronics and accessories to fashion and household items--there was a slowdown in December, a top industry executive said, adding the dip was steeper than usual after a festive month. The ongoing Republic Day sales, however, have brought some respite to online shopping platforms, with a spike in consumption demand as per early trends.
Electronic items see higher sales this festive season on discounts and financing options
During this festive season, offline sales of televisions, smartphones, laptops, refrigerators, and air conditioners have shown significant growth compared to the previous year, according to data from sales tracker GfK. GfK attributes this growth to strategic discounts, promotional offers, cashback, and consumer finance options by brands.
Indian retailers see weak festive boost; get 7% sales growth against double-digit expectation
Retail sales in October and November 2023 grew by only 7% compared to the same period in 2022, despite the festive season, according to a survey by the Retailers Association of India (RAI). Many retailers faced muted footfalls, and sales were similar to the previous year. The growth varied across regions, with East India signaling an 11% growth, South India 7%, North India 6%, and West India 5%.
Festive season demand fuels automobile retail sales to record high: FADA
Fueled by robust demand, India's automotive retail sales hit a record during the festive season, with overall sales surging 19% YoY. Passenger vehicle retail sales increased by 10%. Inventory levels for passenger vehicles remain a concern. Two-wheeler registrations rose 21% while three-wheeler registrations saw a 41% increase. Tractor sales experienced a slight decline.
Diwali magic: Online platforms get back their bang after muted start
According to data from Unicommerce, which helps businesses sell online, order volumes for e-commerce grew about 37% during the festive season sale this year, compared to 2022. In terms of gross merchandise value (GMV), online retail registered a growth of 22%.
Festive sales may fetch Flipkart up to Rs 36,000 crore in gross sales
This year, during the first week of the festive season sales on ecommerce marketplaces, GMV grew by about 18% to around $4 billion, according to Datum Intelligence, a market research firm.
The great Indian premium trip is lighting up etailers’ festive season
According to Saurabh Srivastava, the Vice President of Amazon India, e-commerce is experiencing a significant trend of premiumisation across various categories. This shift is attributed to the expanding middle class with increasing disposable incomes.
Online platforms clocked GMV of Rs 47,000 crore during week one of the festive season sale
The 2023 festive season sale in India saw online platforms generating a Gross Merchandise Value (GMV) of Rs 47,000 crore in the first week, a 19% growth compared to the previous year. Despite the majority of the sale period falling during the 'shradh' period, mobiles, electronics, and large appliances accounted for 67% of the GMV. According to Redseer's survey, 30% of consumers who purchased high ASP categories used financing options. In the remaining festive season, over 55% of consumers surveyed plan to make more purchases, with fashion being the top category.
Flipkart claims 1.4 billion customer visits during Big Billion Days sale
Flipkart claimed that the artisan community, onboarded under its Samarth programme, observed a six-fold growth compared to the pre-festive period.
Clicking towards record: India's festival season spurs online shopping spree
E-commerce companies in India, such as Amazon and Flipkart, are expecting a record-breaking festival season with virtual shoppers predicted to spend a record $11 billion, nearly 20% more than last year. Both retailers have hired temporary workers and added new sellers to meet the rush. Market research shows that over 80% of urban consumers are expected to shop online during this festival season
Here's how you can avail huge discounts on the MacBook Air M2 on Flipkart
Flipkart is offering substantial discounts on the MacBook Air M2 13-inch during the upcoming festive season sale. The laptop, originally priced at Rs 1,14,990, can now be acquired for just Rs 77,990. HDFC Bank cardholders can enjoy an additional discount of Rs 5,000, reducing the price further to Rs 72,990. There is also an extra exchange bonus of Rs 3,000 available. When these discounts are combined, the MacBook Air M2 can be purchased for Rs 69,990.
Etailers bet big on Apple iPhones; steep discounts and deals expected to drive festive season sales surge
Indian e-commerce platforms like Amazon and Flipkart heavily rely on the iPhone as their "hero" product for festive season sales. Online sellers are expected to offer maximum discounts on iPhone 12-14 series, with e-commerce contribution to iPhone sales projected to increase from 40% to 50-55% during the festive season. These high iPhone sales boost marketplace sales value, increase traffic, and help increase average ticket sizes.
Amazon, Flipkart, Meesho, other ecommerce companies may rack up $11 billion festive sales: report
Sales in terms of gross merchandise value are likely to be between $9.7 billion and $11 billion this festive season, rising roughly 15-16% from a year earlier, according to data. Companies are betting on premiumisation and non-urban markets.
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