"Big Billion Days" Flipkart records sales more than Rs.3000 cr in just 5 Days!!
Online marketplace Giant, Flipkart had Announced Its Annual Big Billion Day Sale Between 2nd - 6th October 2016. It is estimated that Flipkart has posted its highest ever daily sales during the Big Billion Days (BBD) festival this year.
Flipkart Internet Pvt. Ltd generated gross sales of at least Rs3,000 crore during its five-day flagship sale Big Billion Days (BBD), which ended on Thursday, three people familiar with the matter said on condition of anonymity.
The first five minutes of the Big Billion Days sale this year saw highest number of concurrent users on the website. During the first hour of the sale on October 2, the retailer sold about 5 lakh products which showed consumers were enthused by the homegrown retailer's annual sales event.
The firm on October 3 (Monday) sold goods worth Rs 1,400 crore. In 2015, the firm said goods worth $300 million (Rs. 2,000 crore) were sold during the five day sale from October 13 to October 17, 2015, a report in The Economic Times said.
According To reports, Flipkart outsold arch-rival Amazon India during the first sale event of the all-important festive season, recording unit sales of 15.5 million compared with 15 million units for the US-based online retailing giant. Half a dozen e-commerce executives said Flipkart’s numbers were 3 times far ahead of Snapdeal’s. Flipkart’s numbers include those for its fashion portals Myntra and Jabong.
Flipkart’s performance signals a sort of comeback to its heydays when it was known for offering an unrivalled product assortment and the biggest discounts. The performance will erase doubts about the company’s ability to take on Amazon and marks a big win for chief executive Binny Bansal and in particular, Kalyan Krishnamurthy, who moved back to the company from Flipkart’s largest investor Tiger Global Management earlier this year to run its key retail business.
Flipkart’s best-selling products included Apple Inc.’s iPhones, Motorola phones, Xiaomi phones and VU televisions.
This festival season is the most significant period for Indian e-commerce companies, particularly for Flipkart, which had bet on BBD to revive sales growth and win back market share from Amazon, which generated higher sales than Flipkart on a standalone basis for two months in a row. Including sales from its fashion websites, Flipkart was still ahead.
A successful October for Flipkart may give the company the platform to keep improving its results and raise a fresh round of funds.