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Tag: Flipkart’s The Big Billion Days

  • The ‘Big Billion Days’ on Flipkart Boosts Walmart’s international Q3 Sales Figure

    American retail giant Walmart said on 19 November that its third-quarter foreign sales were boosted by Flipkart’s ‘Big Billion Days’ sales event in India. Walmart, which uses a fiscal year that runs from February to January, recorded sales of $31.5 billion from its overseas division, representing an increase of 12.4% in constant currency.

    According to Walmart’s earnings announcement, the timing of Flipkart’s The Big Billion Days (BBD) event helped growth in Q3 and will have an effect on growth in Q4. Walmart International, which has operations in 18 countries outside of the US, including India, reported that Flipkart, Walmex (Mexico), and China were the top three nations in terms of sales growth.

    Details of Q3 Sales’ Growth

    Walmart International stated that marketplace and store-fulfilled pickup and delivery were the main drivers of the 43% increase in e-commerce sales in the third quarter. Furthermore, it stated that Flipkart spearheaded the 50% growth in Walmart International’s advertising division. For the 2024 festive season, Flipkart’s Big Billion Days sales event began on September 26 and ran through October 6.

    However, Walmart also stated that the scheduling change of Flipkart’s The Big Billion Days (BBD) sales event, which was held earlier, “partially offset” its overall gross profit. The Flipkart Big Billion Days sale in 2023 ended on October 8 and ran through October 15.

    Gross Profit Rate and Overall Performance of the Company

    Compared to the same period last year, the company’s gross profit rate increased to 24.2% for the quarter. Walmart said that the schedule change of Flipkart’s BBD sales event largely negated the increase. In the meantime, the shift in BBD scheduling caused Walmart International’s gross profit rate to drop by 85 basis points. Growth in Q3 benefited from Flipkart’s BBD event timing, while growth in Q4 will be impacted. 

    Flipkart reported last month that it received 7.2 billion visitors during this year’s festive season. It further stated that over the festive season, vendors saw a 40–50% YoY increase. In the third quarter, Walmart’s operating income was $6.7 billion. This was a 14% decrease from the $7.9 billion in the previous quarter, but an 8% gain over the $6.2 billion in the previous year. Flipkart is currently trying to reduce its losses and strengthen its top line. In the fiscal year 2023-24 (FY24), Flipkart Internet, the company’s marketplace division, reported a 41% YoY decrease in its net loss to INR 2,358 Cr. Over the course of the year, its operating revenue increased by 21% to INR 17,907.3 Cr.

    In 2018, Walmart paid $16 billion to acquire a 77% controlling stake in Flipkart. After that, it increased its ownership and currently holds more than 80% of the largest e-commerce company with its headquarters in Bengaluru.

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  • Flipkart Logs 7.2 Billion Visits from Customers

    From September 1 to October 28, the e-commerce company Flipkart saw 7.2 billion visits overall in terms of customer engagement during this festive season. The company saw a record 282 million unique visitors during that time, largely due to premiums and individualised preferences, particularly in Metros and Tier-2+ cities, which set new standards for e-commerce in India and reflected a rise in consumer sentiment and digital adoption.

    The 11th edition of Flipkart’s The Big Billion Days (TBBD) 2024 sale event kicked off on September 27. Flipkart VIP and Plus customers had early access starting on September 26. The event lasted for eleven days. September 27 also marked the beginning of Amazon’s month-long celebratory sale, known as the Amazon Great Indian Festival (AGIF).

    The Big Billion Days (TBBD) 2024 Sale

    A record 1.4 billion people used Flipkart’s marketplace during TBBD last year. The figures for this year’s TBBD event were not disclosed by the company. Speaking about the increase throughout the festive season, Flipkart’s head of growth (vice president), Harsh Chaudhary, said this year’s response highlights the company’s efforts to bring e-commerce to even the most remote areas of the nation.

     The company has been able to empower an ever-expanding network of merchants and provide millions of customers with improved shopping experiences by leveraging technology and broadening its reach, Chaudhary added. In addition to providing customer satisfaction, this season has become a crucial component of India’s retail scene by boosting economic growth and creating possibilities for local communities all around the nation.

    Growing Popularity of E-Commerce

    Customers from all around the nation, according to Flipkart, depend on online purchasing for a wide range of demands. In comparison to the previous year, the East region of India saw a 14.86% increase in unique visits and a 12% increase in consumers. Growth was comparable in urban and non-metro areas, indicating strong demand overall.

    During this festive season, some sellers also saw an increase of 40–50% year over year. In comparison to the previous year, the marketplace platform’s sellers had a notable increase in sales, greater offers, and increased involvement overall.

     This festive season’s top Flipkart shopping patterns also show how buyers have been flocking towards different categories. Fashion, technology (particularly laptops and tablets), household necessities, appliances, cosmetics, and general goods are among them. The growth of premium and mid-premium Android smartphones was strong, and users were particularly interested in the AI-powered capabilities. Flipkart claimed that its creative affordability structures, created in collaboration with banks and outside partners, were the main factor in this success.

     The eighth iteration of Samarth’s special sale event, Crafted by Bharat, was also successfully concluded by Flipkart. With contributions from hundreds of artisans, weavers, government agencies, non-governmental organisations, LGBTQ+ communities, rural business owners, and female entrepreneurs, more than 25,000 distinctive handmade items were on display. During the sale period, Samarth Sellers’ growth increased by 16%, or 1.6 times. 

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    StartupTalkyNitin Konde