Big Billion Day: Flipkart readies 'exchange offer' strategy to drive white goods sales
Besides product exchange programme, Flipkart also sees its no-cost EMI scheme and low prices to boost its market share in large appliances category
India's largest online marketplace firm Flipkart is certainly pulling out all stops to make its Big Billion Day (BBD) sale a major success this year. Under the product exchange programme, the country's largest ecommerce company is looking to spruce up sales of large appliances such as televisions, washing machines and refrigerators, a Mint report said.
In the television segment, Flipkart said it will keep prices of TVs lower by asking brands to do away with select non-essential features. In effect, the company said customers will get smart TVs of some big brands at prices the basic TVs are sold. For instance, 32 inch TVs will be sold at the price of 24-inch TVs, the Mint report said quoting Flipkart's head of large appliances, Sandeep Karwa.
While the TV segment makes up for more than half of the large appliances business for the company, Flipkart has set a target to triple its market share to 20 percent of all LED TVs sold in the country in October, the report said. The online retail major has partnered with brands like BPL Ltd and Vu Technologies to drive sales of its appliances business.
The Bangalore-headquartered firm has tied up with several brands such as China's Leeco, Vu, and others such as Sansui, BPL, who will be offering their wide range of products. The etailer has also signed exclusive deals with LG, Samsung, among others to sell some of their products, a Times of India report said.
In comparison with other online retail players, Flipkart said several of these products will be offered Rs 3,000-4,000 cheaper, the ToI report added.
India's largest online marketplace firm will most probably launch its Great Festive Sale offer on 3 October. The company will reportedly spend Rs 30 crore on marketing and advertising for this year's Big Billion Day sale, even as reports suggest that the company could be facing severe fund crunch this year due to its discount offers and acquisition of companies.
At a time, when the company is battling dwindling sales and rising competition from its arch rival Amazon, Flipkart is certainly gearing up for the challenge through several initiatives.
Flipkart has also planned several initiatives for its over 1 lakh seller base. The company is looking at providing incentives for best-performing sellers such as low-cost loans for them via tie-up with State Bank of India, besides offering support at packaging, pick-up and delivery, a recent Economic Times report said.
Further, Flipkart will be looking to add temporary 10,000 odd staff to help its sellers cope up with the additional burden during the dale. The company will also include its fashion unit Myntra, which acquired rival Jabong in July, to participate in this BBD sale event.
The Fortune Global 500 is an annual ranking of the 500 largest corporations across the world as measured by total revenue. This year, Life Insurance Corporation (LIC) broke into the list at the 98th position, making it the highest-ranked Indian company
Thirteen Lives is led by a stellar cast, that does its greatest job by not imposing themselves, and their reputations on a truly unbelievable story.
Siddhant was seen in the web-series Inside Edge and then became a sensation with Zoya Akhtar's Gully Boy in 2019. He was last seen in Shakun Batra's Gehraiyaan earlier this year.