Flipkart, Amazon Garner Billion in Six-Day India Sales Festivals
E-tailers in India such as Flipkart and Amazon could generate up to a record USD6 billion (nearly Rs 39,000 crore) in sales this festive season.
According to consulting firm RedSeer, Walmart Inc.-backed Flipkart and Amazon dominated 90 per cent of the market share.
Led by Amazon and Flipkart, e-tailers in India sold goods worth $3 billion (approx. Rs 19,000 crore) during Sept. 29-Oct. 4, an increase of 30 per cent in gross sales over last year, said the Bengaluru-based research firm.
Holding a 60-62% standalone GMV share during the festive sales Flipkart surpassed rival Amazon’s GMV share this year.
Flipkart-which hosted-‘Big Billion Days’ sales (including Jabong and Myntra), had higher sales of mobiles. Electronics sale helped Flipkart to maintain its leadership.
Amazon’s the ‘Great India Festival’ could only garner about 30 per cent of total gross sales.
Earlier, both the US-based Amazon and Walmart-backed Flipkart announced record transactions on their respective platforms.
Amazon’s GMV (gross merchandise value) growth was 22 per cent (year-on-year growth). However, its volume growth rate was more than 30 per cent (YoY).
The report by RedSeer said that the sales of Walmart and Amazon, however, rose 22 per cent and 58 per cent, respectively, over the last year.Get Breaking news and Latest News from India and around the world on GlobalPunjabTV.in. Like us on Facebook for news updates.