36 pc online MSME sellers plan to launch new products ahead of holiday season: Poll: Newsdrum

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New Delhi, Sep 19 (PTI) One in three MSMEs plan to launch new products ahead of online holiday sales, while 34% of sellers plan to focus on promotions and discounts, according to a Meesho-Kantar investigation on Monday.

The holiday season sale of major e-commerce players begins on September 23. Besides Softbank-backed Meesho, Amazon, Flipkart, and Myntra also announced the start of their holiday season sale on the same date.

The survey was conducted to assess online vendors’ festive sales readiness and understand how they measure performance during such events.

“Of all sellers who participated in the study, 36% said they were introducing new selections ahead of the holiday season, while 34% said they were rolling out promotions and discounts.

“Importantly, 33% of suppliers said they invest in improving product quality ahead of the holiday season to increase customer satisfaction,” the survey report said.

The survey is based on contributions from 787 online sellers. Vendors came from Tier 1 and Tier 2 metropolitan cities including Surat, Jaipur, Pune, Mumbai, Hyderabad, Bangalore, Tiruppur, Salem, Erode, Coimbatore, Panipat, Kanpur, Delhi, Kolkata, Patna and Cuttack.

Nearly 32% of small businesses said they were buying additional inventory to meet festive demand.

At the same time, 36% of respondents stressed the importance of communicating with their peers to understand market trends. Other actions taken by sellers include diversifying into new product categories, redesigning packaging, training additional staff, and investing more in advertising spend.

The survey found that small businesses have a robust set of metrics beyond sales and profit to gauge their sales success during the holiday season.

“Nearly 41% of sellers want to create a distinct brand identity, 40% aim to reach new customers while 37% want to identify and create a set of repeat customers,” the report states.

Nearly 43% of sellers believe it is imperative to improve customer satisfaction, while 42% believe that improving product quality is an important metric to measure success and 41% of sellers want to create a distinctive brand identity, according to the report. PTI PRS MR


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