The Goods and Service Tax (GST) rollout from 1st July 2017 ushered in Pre-GST sales as many retailers anticipated a higher tax rate under the new system. CashKaro.com, a Cashback and Coupons website, dug up some information to find out the key insights on how these sales fared for e-commerce companies.
The Pre-GST Sale period saw 165% rise in average number of orders received compared to normal days. In fact, the average order value rose by 24%during this period. What must be noted though is that the average discounts offered by retailers also went up from 30-50% to 40-80%.
While most top retailers had eye-popping sales lined up for all users, the most significant discounts were served by Myntra, Nykaa, Jabong and Flipkart. Adding to it, users got some pretty sweet deals with Extra Cashback offered by CashKaro over and above the great discounts.
CashKaro offered upto 40% Extra Cashback as real cash on all sales placed during Pre-GST period.
Owing to these massive discounts, retailers performed exponentially better during the Pre-GST sale period. Flipkart and Nykaa saw a whopping 105% and 250% increase in number of orders placed via CashKaro, respectively. Myntra witnessed a massive 276% increase in sessions while Jabong and Amazon saw over 100% increase in clicks from CashKaro.
Commenting on the insights, Rohan Bhargava, CoFounder, CashKaro.com said, “The Pre-GST Sale period was no less than pre-Diwali season. While end-of-season sales (EOSS) coincided with the GST roll out from 1 July, a shopping frenzy gripped everyone given the uncertainty in prices after GST. All top retailers unveiled a bevy of offers to entice shoppers including those retailers who don’t usually offer discounts. While the average discounts offered by retailers grew from 30-50% to 40-80%, at CashKaro, we witnessed 165% rise in the average number of orders. It turned out to be a great success since these discounts were coupled with increased Cashback rates from CashKaro.”
In terms of the categories that sold the most during these sales, our data pointed towards Mobiles & Electronics (25%), Fashion (23%), Large Appliances (20%), Health & Beauty (17%), and Grocery (15%). Now that top brands and quality products are available online, consumers are clearly lapping them up.