Amazon India’s Prime Day sales, its first major event after the virus outbreak, have surpassed the daily number of its flagship sales, according to two people aware of the matter.
Amazon India’s Prime Day sales, its first major event after the virus outbreak, have surpassed the daily number of its flagship sales, according to two people aware of the matter. It clocked up over $600 million in two days of last week’s Prime Day sale as demand for products, primarily electronics, surged online after Covid-19 kept home shoppers. But there will still be lower gross aggregate numbers for Prime Day sales as the Diwali celebration happens over five days.
Amazon India ‘s president, Amit Agarwal, told TOI this was his biggest Prime Day ever, with no number sharing. “Prime Day 2020 has been the largest 48 hours on Amazon India for small and medium sellers ever.
We had the highest participation of nearly 1 lakh sellers, who received orders from across 97% of India’s pin codes,” he said.
Initial forecasts for Amazon ‘s flagship sale events were in the region of $400-500 million over 48 hours, according to sources, analysts and sellers, but the continued demand for products from e-commerce and customers moving online for their purchases has given the event a boost. Like fashion and food products gained comparatively less success, electronics, tablets, small and large appliances emerged as the top-grossing categories.
“It wasn’t pent-up demand that generated a sales jump, but a broader measure of the online change in overall demand. Prime Day was far bigger per day during Diwali than the biggest day, “said one of the people listed earlier. Another source gave the same proof.
His sales (electronic accessories) doubled during Prime Day as compared to an ordinary day, according to an independent seller.
Amazon India has seen new paid subscription sign-ups double as compared to 2019 sales for its famous Prime service. Agarwal said up to 65 percent of new subscribers were from outside of the top 10 cities. Amazon has 150 million Prime customers worldwide but doesn’t disclose precise figures for India. Aside from the annual subscription, Prime is also available in India every month.
“The reason numbers are higher is also attributed to high-priced categories such as smartphones, laptops, and other devices selling more compared to one of the top fashion segments during Diwali. But that is now fairly small, “said Satish Meena, senior forecast analyst at marketing research company Forrester Research.
Fashion, for instance, accounted for around 24 percent of last year’s Diwali revenue, but projections show it will now be about 12 percent — down to half. The proportion of appliances (12 percent) and consumer electronics (16 percent) should have risen in 2020 as shoppers purchase more products for work-for-home and home-schooling.