E-commerce giants Amazon and Flipkart would have collectively earned more than $1 billion in sales easily during their recent events — Amazon’s Prime Day/Freedom Sale and Flipkart’s Big Saving Days, as per a study by LocalCircles, a consumer network based in Noida.
The survey that covered over 17,000 people across 211 districts, found that despite the sale commencing from Aug 6, the momentum picked up only in the second half with significant volumes happening on Saturday, Sunday, and Monday.
“It appeared that a large number of consumers shopped on Saturday, Sunday, and Monday, indicating a pent-up demand since April," said Sachin Taparia, Founder, LocalCircles.
The study revealed the way Indians spent during the days of sale — 7% of the e-shoppers did shopping up to ₹1,000, 27% spent over a ₹1,000 while one in every five customers spent between ₹1,000 and ₹10,000. Besides, 7% were heavy spenders who bought items worth more than ₹10,000. On the flip side, as many as 36% of people browsed through the sale but did not shop.
“The country has over four crore active e-shoppers and as per our analysis, 20% of them would have bought things worth around $600 million and 7% of the e-shoppers accounting for another over $400 mn,” said Mr. Taparia.
The trends in how Indians shopped can be traced to the coronavirus pandemic - almost 80% admitted to shopping online due to the fear of COVID. However, more than 40% were lured by heavy discounts on e-commerce platforms.
