It seems like the best time for online retail giants and their loyal customer following. Even amid the challenges of the lockdown, a look at the consumer sentiments may reveal that their heart is indeed in the same place, much to the surprise of the businesses. The recent story that validates the latter statement is Myntra’s four day online sale. The much loved e-tailer is said to have sold over 10 million products which was purchased by around 3.5 million consumers in a snap of four day’s time period, winning it big in the market. As opposed to the biannual sale conducted last December where it saw 2.85 million consumers placing 4.2 million orders for 9.6 million items.
The most sold item during the sale was the BOAT wireless earphones which accounted for 16600 units. While the most popular men’s product t-shirts which accounted for a sale of 17 lakh units whereas the most popular woman’s product were Kurtas, which accounted for a sale of 8 lakh units. These sales mainly comprised of consumers from the regions of Top tier 2 and tier 3 cities like Guwahati, Bhubaneswar, Imphal, Panchkula, Dehradun and Aizawal with a record 86 percent increase in the purchase from these cities which is considered to be highest thus far. Myntra also said that the Kirana stores that it has collaborated with on its platform are delivering close to 2.4 lakh items per day.
Amar Nagaram, the CEO of Myntra said that the current edition witnessed the successful integration of technology with 400 offline stores. The e-tailer also had 13.5 million unique visitors on its platform during the sale, generating close to 120 million sessions. They also said that of the 3.5 million consumers who shopped; close to 7 lakh were first-timers from tier 2 cities and beyond. The ‘End of season sale’ at Myntra that was held during 19th to 23rd June also saw 4 million orders being placed on the platform by consumers across the country.
While this has also met with curation of similar deals by other major e-tailers operation in the country such as Flipkart and Amazon who also buckled up to clear their old inventory that got accumulated during the lockdown, through aggressive offers pushing the consumers to par take in the event. Post the lifting of restrictions; Flipkart came up with its first sale event namely ‘Big saving days’ on 23rd June which was a five day sale that covered diverse category of products from electronics to home essentials to apparels and much more. The platform has said to have offered up to 70 percent off on its various items.
As the businesses challenge the new normal, there is a climate of optimism especially among online retail platforms that has not left a stone unturned when it comes to raising the demand. The success of Myntra has also made us realise that the spending habits of the people around the world is intact and with the right integration of technology in major areas of business, would ensure comfort and safety among consumers which is of utmost importance to them at the moment and also help the businesses to run smoothly.
