SUMMARY
Nykaa’s Pink Friday sale, which witnessed 400 orders per minute on its first day, will continue until November 28th
On the first day of the Pink Friday sale, makeup, skincare and haircare were the top three categories that recorded the highest products sales
It said that 57% of online purchases were made by shoppers coming from Tier-II and Tier-III cities in India
Beauty ecommerce giant Nykaa has recorded 8 Lakh orders (400 orders per minute) on the first day of its Pink Friday sale. The Pink Friday sale will continue until November 28th.
Nykaa said that on the first day of its Pink Friday sale, the startup’s sales orders were up 40%, as compared to the Pink Friday sale a year ago.
Makeup, skincare and haircare were the top three categories that recorded the highest product sales, up 14x, 12x and 9x, respectively, compared to regular days.
Further, Nykaa recorded a digital footfall of over 10 Mn visitors, a 37% increase from the Pink Friday sales last year. Of this, 5.8 Mn were unique shoppers that visited the platform on the day one of the sale, as compared to 4.3 Mn unique visitors recorded in the previous Pink Friday sale, Nykaa said.
The ecommerce platform said that it received the highest number of orders from Lucknow, Chandigarh, Ghaziabad, Jaipur, Guwahati and Jammu. The company added that 57% of online purchases were made by shoppers coming from Tier 2 and Tier 3 cities.
“The phenomenal consumer response to our Pink Friday sale on Day 1, right after a successful festive season, reiterates our leadership in beauty. Our unparalleled curations and interactive experiences such as Watch and Buy have driven extremely high engagement. Overall, we are observing that our offers are being received well by consumers and we are looking forward to offering them the best deals throughout Pink Friday,” said a spokesperson of the company.
The ecommerce unicorn shared that it is offering a 50% discount on top brands listed on its platform. It is employing deep discounting practices such as price drops and flash sales during the four-day Pink Friday sale.
Founded in 2012 by Falguni Nayar, the recently listed omnichannel ecommerce unicorn is currently managing three online platforms – Nykaa Fashion, Nykaa Man, and Superstore. It claims to have onboarded over 4,500 brands so far and is managing 4.6 Mn stock-keeping units (SKUs) via its website and mobile apps.
The development has come at a time when the ecommerce unicorn is losing momentum in the Indian bourses. Recently, Nykaa’s investor Lighthouse India Fund III Limited offloaded shares worth INR 335.7 Cr in the startup.
Meanwhile, another investor TPG Capital is also reported to be selling off INR 1,000 Cr worth of shares in the stock exchange market.
Most recently, its Chief Financial Officer Arvind Agarwal stepped down from the role to pursue other opportunities in the digital economy and startup industry.
Thoughts On Black Friday Sales
Similar to the west, Indian brands and ecommerce marketplaces have begun introducing Black Friday sales to allure consumers.
From the point of product sales, November and December are slow months for ecommerce and D2C startups. Therefore, Black Friday sales are being held to draw on revenue-driving products without utilising deep-discounting practices, ecommerce participants told Inc42.
Some of the perceptions relating to Black Friday sales are limited discounting and advertising unlike the US, attracting first-time and second-time online shoppers, improving the traction before the New Year sales and stimulating the growth of D2C exports.
