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34% Online Sellers Focus On Promotion, Discount: Report

The poll was carried out to determine how prepared internet vendors were for the festivals and to comprehend how they evaluated performance during such occasions

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According to a recent Meesho-Kantar study, 34 per cent of merchants aim to concentrate on promotions and discounts, while 1 in 3 MSMEs intend to introduce new products before the online festive season sale. Leading ecommerce companies have begun their holiday sales as of September 23. Along with Meesho, which is supported by Softbank, Amazon, Flipkart, and Myntra have also declared that their holiday sales will start on the same day.

The poll was carried out to determine how prepared internet vendors were for the holidays and to comprehend how they evaluated performance during such occasions.

The survey says, "Of all the sellers who participated in the study, 36 per cent said they introduce new selections ahead of the festive season while 34 per cent said they roll out promotions and discounts. Importantly, 33 per cent of suppliers said they invest in improving product quality before the festive to drive greater customer satisfaction."

Based on responses from 787 online sellers, the survey. Metropolitan, tier 1 and tier 2 cities, such as Surat, Jaipur, Pune, Mumbai, Hyderabad, Banglore, Tiruppur, Salem, Erode, Coimbatore, Panipat, Kanpur, Delhi, Kolkata, Patna, and Cuttack, were home to the online sellers.

To satisfy holiday demand, over 32 per cent of small businesses stated they generate more inventory.

In addition, 36 per cent of respondents emphasised the significance of speaking with peers to comprehend market trends. Other actions done by sellers include expanding into new product categories, redesigning packaging, hiring more staff, and increasing advertising expenditures. 

The study discovered that small businesses use a variety of reliable metrics, in addition to sales and profit, to evaluate the performance of their holiday season sales.

"Nearly 41 per cent of sellers want to create a distinct brand identity, 40 per cent aim to reach out to new customers while 37 per cent want to identify and create a set of repeat customers," further adds the report.

As the report mentions, over 41 per cent of sellers think it is critical to increasing customer pleasure, while 42 per cent think enhancing product quality is a key indicator of success and 41 per cent want to have a distinctive brand identity.

Tags assigned to this article:
online shopping festive season e-commerce