Flipkart India, the wholesale arm of the Walmart-owned e-commerce marketplace, aims to clock sales worth $3 billion during the festive period this year, with the Big Billion Days sale happening from September 29 to October 4. The e-commerce marketplace received Rs 1,616 crore investment from its Singapore-based parent entity. This is the second fund infusion after January, when Flipkart pumped Rs 1,431 crore into the wholesale unit, which purchases goods in bulk from manufacturers and sells them to preferred sellers.
Flipkart plans to launch special products during the Big Billion Days sale, with some packaged as Flipkart exclusives, create buzz and intrigue with pre-orders, contests, cross-sell across different categories, and do a few select trial generation deals priced at Rs 49-Rs 99. The company has also offered brands to tap 50-70 per cent off and ‘buy one, get one free.’ For some of these exclusive launches and BBD branded product, Flipkart India is buying inventory from brands.
Wholesale units of ecommerce marketplaces have come under the scanner following a revision in the foreign direct investment rules for the sector in December. The introduction of a 25 per cent cap on the goods sellers can purchase from an ecommerce company or its affiliates had caught both Flipkart and Amazon off guard.
While this caused some temporary disruption in sales, both firms told their investors that they did not see too much of a slide in sales due to the new regulations.