New e-com, fashion brands see sales increase at the start of the holiday season, Retail News, ET Retail
Fashion e-commerce giant Myntra reported a record 19 million visitors on the first day of its sale and 6 lakhs of items were purchased in the first hour. On day one, customers purchased over 4 million items, of which 40% of orders were from cities level 2 and 3 and beyond.
The main categories for women were ethnic clothing for women, western clothing for women, beauty and personal care, and for men it was casual wear, formal wear, work wear and clothing. sport.
“The remarkable 20% new customer participation at the opening of the event and 40% of orders placed from level 2 and 3 cities and beyond, shows the impact of our engagement initiatives consumers, celebrity associations, as well as a substantial festive offering, has created, ”said Amar Nagaram, CEO of Myntra.
Part of the Flipkart group, Myntra has partnered with more than 5,000 leading fashion and lifestyle brands nationwide.
Ajio, the online fashion retailer of Reliance Group, which held festive sales from September 30 to October 4 with many celebrities like Sidharth Malhotra and Sonam K Ahuja endorsing its #BigBoldSale campaign, received a tremendous reception from across the country .
Luxury lifestyle platform Tata CLiQ Luxury is holding its annual ’10 out of 10′ sale from October 6 to 15, which will feature attractive deals on luxury brands across all categories,
Thanks to the “10 out of 10” sale, Tata CLiQ Luxury plans to double its sales in all categories.
“For the 10 out of 10 sale, we’ve curated a range of thoughtful gift options to celebrate special stories and ties this holiday season. To deliver the best deals this season, we’ve expanded our assortment and are introducing some deals. interesting on luxury brands across multiple categories, ”said Gitanjali Saxena, Business Head-Global Luxury, Tata CLiQ Luxury.
Tata CLiQ is owned by Tata UniStore Limited of Tata Group and operates in categories such as electronics, fashion, footwear and accessories.
“With over 100% year-over-year growth and an increase in customer base, we expect a strong holiday season this year,” added Saxena.
According to Prabhu Ram, Head-Industry Intelligence Group (IIG), CyberMedia Research (CMR), this is where highly specialized, ultra-luxurious and bespoke e-commerce platforms for niche consumers are doing extremely well.
“Unlike the big ecommerce platforms that cater to value-conscious shoppers with compelling discounts and offers, these niche ecommerce platforms prioritize convenience over cost,” Ram told the IANS.
Global market research firm Forrester expects online retailers in India to generate around $ 9.2 billion in sales in the holiday month of 2021, up 42% (year-on-year) compared to the estimated $ 6.5 billion in holiday sales in 2020.
In the first week alone (October 3-10), he estimates that $ 6.4 billion in online sales, or roughly 70% of the holiday month’s total online sales, will occur.
Now, users in level two and level three cities are also contributing significantly to the growth of the market. About 75 million online shoppers will participate during this holiday season, of which 50 million will be from level cities. two and beyond, “said Jitender Miglani, senior forecast analyst, Forrester.