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Flipkart Group trumps Amazon in festive sales

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Flipkart Group trumps Amazon in festive sales

The e-commerce sector in the festive sale period between mid-October to November clocked $8.3 billion in gross merchandise value (GMV), up around 65% from the previous year. Flipkart Group including Myntra emerged as the leader, said management consulting firm Redseer.

Flipkart Group comprised 66% of the overall GMV clocked by e-commerce firms in the festive season. Last year, GMV clocked by e-commerce firms stood at $5 billion during the festive month.

This year’s festive sales also saw 88% customer growth from last year, as close to 40 million shoppers coming from Tier 2 and beyond cities bought on e-commerce platforms.

Overall, 88 million shoppers purchased goods on e-commerce this festive season, with 55% coming from Tier 2 towns, and 45% from metros and Tier 1 cities.

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Last year, close to 47 million shoppers bought from e-commerce during festive season sales.

Factors like presale awareness, pent up demand by customers, wide selection across categories, disruption of offline stores along with multiple credit and affordability constructs helped major e-commerce players to drive growth this festive season.

“One clear lesson from this festive season is that e-commerce has become more mainstream than ever. And it has proven that with the right assortment at the right prices which is delivered quickly in the safety of customer’s homes – the value proposition of e-commerce is very powerful.

Thus, it is imperative for brands and sellers to shift their focus to online quickly and enable a seamless online experience for the customer in order to thrive in a post COVID world,” said Mrigank Gutgutia, director, e-commerce, RedSeer Consulting.

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In the category mix, smartphones continued to dominate across all the products, with an increasing share of users from Tier 2 cities. With covid forcing individuals to work-from-home, even electronics and large appliances saw a jump, clocking 29% of the overall GMV, during this festive sale.

On the other hand, fashion took a minor hit during this festive sale as covid placed restrictions on ‘stepping out’ behaviour of consumers. GMV per customer also dropped to ₹6,600 from ₹7,450 in last festive season, Redseer added.

Earlier, Mint had reported that a total of 52 million shoppers flocked on e-commerce websites, in the first week of 2020 festive sales, with 57%, or 31 million customers coming from smaller cities and towns.

Tap To Explore More : Economic Times

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Movie

The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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