My friend Megha ordered beautiful Diwali gift packs online for all her friends this year while my brother placed an online order for kurta Payjama for the same occasion. I came to hear many such other remarks from my several other acquaintances ordering various products online this festive season. Some owing to the lack of time while others were being lured by various lucrative discount offers, I would say that this year’s Diwali was a great success for online retailers.
With Diwali season just faded away and festive season finally came to an end with Bhai Dhooj, the e-commerce websites are celebrating their new touched heights. With ever growing e-tailors business, this year was no different and the boom in online business was quite evident. Started with Big Billion Day Sale by Flipkart and then continued with super discount offers by Snapdeal and Amazon, a whole new level of distinction was achieved by such online retailers. An array of products was bought by the customers from mobile phones and electronic items to gift packs and home décor items.
According to the Chief Financial Officer of Snapdeal.com, a huge increase in traffic has been seen on online markets and e-commerce sites this Diwali season. “We have seen a multi-fold growth in our orders. With the increase in order volumes the delivery maybe impacted due to unprecedented delivery demands on the logistics companies. We have not seen delay in our deliveries due to any taxation issues or confiscation though,” said Moondhra.
In similar case, Flipcart.com big billion day sale was a big hit. The website was able to receive around 1 billion hit in 10 hours. The figure of Rs. 600 crores sales in first 10 hours speaks volume of its success. The e-tailer sold about 500,000 lakh units each in mobile and fashion segments in a day. Although several technical glitches and logistic based problems were faced by the website which was followed by an apology letter but the sales definitely escalated.
However, non-deliverance of goods on time was a big letdown. Several customers cancelled their orders on last moment while others are till date waiting. A high pressure build up owing to the festive season lead to huge pile up of orders and thus a few loose ends were seen. This also paved way for consumers towards traditional retailers who witnessed last moment rush towards big brand showroom and various shopping malls. Although the sales were reduced by several degrees for by big names but the major sufferers were the small fishes in the pond.
Although e-commerce accounts for hardly less than 1% of the overall retail market in India, its impact was way more powerful than its proportion. Regarded as one of the fastest budding retail channel, the frenzy it created during this Diwali season was proof enough.