Online retailer, Flipkart is targeting sales of $1.5-$1.7 billion in its annual Big Billion Days sale, nearly double of what it did last year. Aggressive targets have been set for senior management overseeing key businesses such as smartphones, fashion and large appliances.
The projected target for the sale, likely to be held in October, also includes sales from online fashion retailers Myntra and Jabong, both owned by Flipkart, according to a report in The Mint which quoted three people familiar with anonymity said. The projected target also takes into account sales from fashion retailers Myntra and Jabong, both owned by Flipkart.
ALSO READ: Circa 1995: When VSNL launched data plan at Rs 25,000 for 9.6 kbps
In its five-day Big Billion Days sale last year, Flipkart generated gross sales of more than Rs 5,000 crore driven by iPhones, Xiaomi phones and VU televisions.
The people mentioned above added that the targets might be revised right before Big Billion Days, likely to be held in October, news report said.
Amazon and Flipkart have grown this year was mainly driven by multiple sale events that offer big discounts on smartphones, televisions, clothing and other products.
The e-commerce market is widely expected to continue accelerating over the next few quarters because of faster internet connections, increasing familiarity with online shopping among consumers and heavy investments by Flipkart and Amazon on discounting, advertising and supply-chain expansion, said the The Mint.
ALSO READ: Trade deficit widens to a 5 year high in July
Flipkart typically starts preparing for Big Billion Days as early as May, ramping up logistics and inventory, hiring thousands of temporary workers and upgrading the technology that runs its marketplace.
Over the past two years, Flipkart has beaten rival Amazon India during the Diwali sale.
Amazon is also leaving no stone unturned in its effort to win the festive season sale face-off with its own flagship five-day Great Indian Festival sale.
Mint reported on Tuesday that Amazon had pumped in Rs 2,700 crore into its Indian business, bringing its total investment in India to roughly $4 billion at least till date.
Amazon India typically boasts of a greater assortment of products during the festive sale. Flipkart, on the other hand, focuses more on putting together a compelling collection of exclusive brands and products for such sale events