Flipkart is looking to double its sales during its flagship Big Billion Day (BBD) event. The company aims for about Rs.1 trillion ($14 billion) in this fiscal year in Gross Merchandise Volume (GMV) which is a rise in at least 45% from last year.
According to research and advisory firm, in 2018 Flipkart had a 60% share of the $2.5 billion sales by e-tailers, throughout the five-day event.
Flipkart’s group that includes Jabong and Myntra had posted a GMV of $7.5 billion for FY18, according to British bank Barclays.
It was confirmed by Flipkart that this year’s Big Billion Day would be its biggest yet. This sale is one of Flipkart’s annual flagship sales where discounts are as high as 80%.
“The Big Billion Day for us brings forth all the values we stand for in our customers’ mind — access and affordability. With innovation as our rallying call, we are confident that this BBD will be one of the biggest that the ecosystem as a whole will experience. From our nurtured sellers to our trusting patrons, there is something for everyone,” said Kalyan Krishnamurthy, CEO, Flipkart.
Customers of BBD will have the opportunity to earn the company’s SuperCoins which can be earned by shopping either at Flipkart or SuperCoin’s partner firms.
During the festival season, Flipkart will also provide credit to almost 50 million of its customers through other options such as Flipkart Pay Later, Cardless Credit and Debit card EMI. Nearly 50 different fashion labels will also be available for customers to browse through.
Flipkart’s aggressive pricing will help the business grow in a market with slow economic growth and falling demand but it will all come down to how much the company promotes its sale and offers.