MSMEs and Consumers from Tier-2 & Beyond Drive Festivities for India
News Desk, News Nation 360 : Over 3 lakh sellers out of which ~60% coming from Tier 2 and beyond have enabled festive cheers to 250mn + consumers across India this Big Billion Days. Fuelled by affordability and value purchasing, The Big Billions Days has seen India pivoting to meet consumer demand that caters to the ‘new normal’. This year has witnessed the whole retail ecosystem come together to form partnerships - from Kiranas to MSMEs and brands bring a uniquely inclusive event for the country - ‘The Big Billion Days’. Local MSMEs witness festive cheer : Bringing all this together were the marketplace seller, local MSMEs, artisans and weavers, with 60% of them coming from Tier 2 cities and beyond. The seller base reach has expanded by 20% this year totalling up to 3000+ pin codes. In just about 2 days of TBBD, 2020 marketplace sellers have witnessed growth that they saw during the 6 days of TBBD 2019, showcasing the pent up demand they have seen from consumers across India. This also highlights the support for the safe supply chain & robust SOPs of Flipkart logistics. This festive period has seen over 70+ sellers become Crorepatis and ~10,000 become Lakhpati through Early Access and the three days of TBBD 2020. As essential products continue
to remain in demand with consumers across the country taking necessary precautions to safeguard themselves are their families against COVID-19; sellers in categories such as household products personal care continue to see day-on-day growth. India played big on affordability : The Big Billion Days in the first 72 hours has been a huge catalyst to the Digital India campaign with Flipkart witnessing over 60% increase in digital payments transactions in comparison to non-festive event days. There is particularly strong growth in adoption of UPI based instruments as a result of joint efforts with NPCI to bring the benefits of digital payments to customers, especially in Tier 2 and Tier 3 cities across India. Indian shoppers redefine essentials : Ahead of the festive season (September 1 - October 14), there were more than 36 million new app downloads by customers across the country. Besides metros, majority of these downloads happened from smaller cities such as Ranchi, Medinipur, Cuttack, Guwahati, Darbhanga. This year Flipkart Wholesale, the digital B2B marketplace of the Flipkart Group and the Best Price Stores joined The Big Billion Days ecosystem to bring great value for retailers and kiranas as they prepare for the festive season. In the first two days of TBBD 2020 (16 -17 October) both Flipkart Wholesale and the Best Price (cash-and-carry) stores witnessed over 35,000 retailers and 18,000 Kiranas operating in categories such as Fashion, Fashion accessories and Grocery joining the festivities. For Flipkart Wholesale tier 2 and tier 3 cities accounted for almost half of the sales. The digital B2B marketplace witnesses continued demand for casual and loungewear in addition to seeing a surge in men and women’s ethnic wear, especially from Surat and Jaipur as fashion retailers gear up for the upcoming festive season. The Best Price (cash-and-carry) stores alone witnessed an average adoption of (over) 15% of purchases through e-commerce in which the stores from southern India dominated digital uptake. With over 95% of products locally sourced, the demand came from cities such as Agra, Mysore, Karimnagar, Kurnool, Meerut, Amravati, Bhopal, Amritsar amongst others. While cities such as Bangalore, New Delhi, Mumbai, Hyderabad and Kolkata continue to lead the pack, the Tier 3+ cities made up for almost 60% of the demand, this year. Customers from new cities including Jhumri Telaiya (Jharkhand), Chamba (Himachal Pradesh), Cumbum (Andhra Pradesh), Thottiyam (Tamil Nadu) have shopped during TBBD.
Pic : Courtesy
Report : Anustup Kundu