What has been the initial response to The Great Indian Festive Sale? What is the anticipation and expectation for the rest of the festive season ahead?
For us, the festive season started during the time of Onam. At this time of the year, there are a series of festivals — Raksha Bandhan, Onam and then, of course, this full month which is there and we had two large events before entering into the festive season which is The Independence Day Sale and The Prime Day Sale and both were very successful. We opened the Amazon Great India Festival Sale yesterday. In the first 23.5 hours, we focussed only on the Prime Members and the response has clearly surpassed our expectations. The first 24 hours of the sale has been really good.
I am guessing sales of smartphones and other electronics are the main contributors particularly in the festive season, accounting for nearly 55-60% of your sales. Will the trend be similar this year too? Will people buy more smart phones and electronic gadgets?
We have still not closed today and I would not get into any exact numbers. There are two ways to look at it – one is what do phones and electronics contribute? We are more focussed on increasing the base which makes the sellers successful. So for us, the benchmark of success for a Great India Festival is about new customers, more Prime customers and number of sellers who are successful. The first 24 hours look very promising on all three trends.
How different is the purchasing pattern this festive season versus last year? Any change which you are spotting in terms of purchasing or in terms of a pattern there?
If I restrict myself to commenting on the first 24 hours of The Great Indian Festival Sale it is like last year, just the scale and size of it is better. There are some reports about consumer sentiment being muted. We have not experienced that on the first day of the sale, like I said it is slightly ahead of even our internal expectations