Amazon India, the e-commerce behemoth, is gearing up to kick off its much-anticipated flagship sale event, Prime Day, commencing precisely at the stroke of midnight on July 15th and concluding on July 16th, 2023. The forthcoming edition of Prime Day promises a staggering influx of over 45,000 new product launches hailing from more than 400 esteemed Indian and global brands. Renowned entities such as OnePlus, Samsung, Motorola, boAt, Sony, Allen Solly, Lifestyle, Titan, Fossil, Puma, and Tata, among numerous others, are all set to unveil their latest offerings.
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Furthermore, Amazon Prime, the esteemed video streaming platform, shall witness the unveiling of several captivating new shows and movies, bolstering the alluring repertoire available to discerning subscribers.
Amazon India, the e-commerce behemoth, is gearing up to kick off its much-anticipated flagship sale event, Prime Day, commencing precisely at the stroke of midnight on July 15th and concluding on July 16th, 2023.
Reserved exclusively for esteemed Amazon Prime customers, this extravagant retail extravaganza spans a generous 48-hour period and customarily precedes the auspicious festival of Diwali.
Meanwhile, Amazon’s chief contender in the realm of e-commerce, the formidable Flipkart operated by Walmart, also orchestrates a similar retail spectacle around this time. These festive season sales hold paramount significance for online retailers, particularly in light of the recent deceleration in e-commerce sales.
Notably, the gross merchandise value (GMV) of e-tailing has witnessed a remarkable ascent, soaring by a staggering 44 percent from $25 billion in FY20 to $36 billion in FY21. This impressive growth trajectory persisted in FY22, as GMV surged by an additional 36 percent year-on-year (YoY) to reach $49 billion. However, the pace of YoY growth significantly diminished to a modest 22 percent in FY23, culminating in a GMV of $60 billion, as per the discerning analysis of Redseer, a distinguished consultancy firm.
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The significance of festive season sales, including the much-anticipated Prime Day and its likes, lies in their contribution to the overall annual GMV of e-commerce players, which currently accounts for a substantial 17.4 percent. However, this proportion has witnessed a gradual decline from 17.8 percent in 2021 and 19.5 percent in 2020, due to the proliferation of sales events—an aspect underscored by industry analysts.
This year heralds the arrival of the highly anticipated seventh edition of Prime Day. To the delight of customers, Amazon promises the fastest delivery speeds ever witnessed in India. Prime members residing in 25 cities across the nation will relish the luxury of same-day or next-day delivery for their orders, while Prime members in most Tier 2 cities can expect their Prime Day purchases to arrive within a swift timeframe of 24 to 48 hours.
Akshay Sahi, the esteemed Director of Prime and Delivery Experience at Amazon India, expressed his fervent desire to augment the value and convenience afforded to Prime members, while concurrently empowering small and medium businesses nationwide.
It is worth mentioning that Amazon recently apprised its sellers of a revised fee structure, a consequential development that may entail price hikes for select items retailed on the platform. The most notable increase in seller fees pertains to the over-the-counter (OTC) medicine category, which has witnessed a substantial surge from its previous rate of 5 percent to 12 percent for items priced below Rs 500, and an even more formidable escalation to 15 percent for items surpassing the Rs 500 mark.
The forthcoming edition of Prime Day promises a staggering influx of over 45,000 new product launches hailing from more than 400 esteemed Indian and global brands. Renowned entities such as OnePlus, Samsung, Motorola, boAt, Sony, Allen Solly, Lifestyle, Titan, Fossil, Puma, and Tata, among numerous others, are all set to unveil their latest offerings. The bonanza of deals and discounts extends beyond the confines of tangible goods, as enticing offers shall also encompass flight bookings, hotel reservations, homestays, villa rentals, and a cornucopia of other exciting prospects.
Furthermore, Amazon Prime, the esteemed video streaming platform, shall witness the unveiling of several captivating new shows and movies, bolstering the alluring repertoire available to discerning subscribers.
Aptly reflecting the tremendous growth trajectory witnessed in previous iterations, Amazon India aims to perpetuate the upward trajectory, with nearly 18 percent more sellers anticipated to surpass the noteworthy sales benchmark of Rs 1 crore, while an impressive 38 percent surge is expected in the number of sellers reaching the Rs 1 lakh milestone during Prime Day 2022. In total, Amazon boasts a colossal user base of over 200 million Prime members spanning 25 countries, with India constituting a vital market within this expansive network.
