Flipkart and Amazon file mixed sale of $7.3 billion as on-line procuring will get a lift attributable to pandemic.
On-line procuring platforms Flipkart and Amazon swallowed round 88 % market share collectively this festive season which started mid-October and ended mid-November. Reportedly, the 2 e-commerce giants recorded a mixed sale of $7.3 billion through the month-long festive season, based on a report by RedSeer revealed on 26 November. Flipkart Group comprised 66 % of the general GMV (Gross Merchandise Worth) clocked by e-commerce companies within the festive season whereas Amazon comprised 34 %. Walmart backed Flipkart together with style portal Myntra took 58 % of the market share as in comparison with their opponents Amazon who took a 30 % share of the festive market gross sales.
This 12 months’s festive gross sales additionally noticed 88 % buyer progress from final 12 months. Final 12 months, near 47 million customers purchased from e-commerce throughout festive season gross sales. This was primarily attributable to two causes. One, the inflow of latest clients and the second, decline in offline procuring as a result of pandemic.
“This has been far more than the forecasted efficiency. The general progress story has been very bullish this festive season. We had forecasted $7 billion of gross sales however the precise figures surpassed our expectations, displaying how snug shoppers have turn out to be with procuring on-line even on this pandemic hit 12 months,” mentioned Mrigank Gutgutia, Director E-commerce, RedSeer Consulting.
“One clear lesson from this festive season is that e-commerce has turn out to be extra mainstream than ever. And it has confirmed that with the proper assortment on the proper costs which is delivered rapidly within the security of buyer’s properties – the worth proposition of e-commerce may be very highly effective. Thus, it’s crucial for manufacturers and sellers to shift their focus to on-line rapidly and allow a seamless on-line expertise for the shopper with the intention to thrive in a submit COVID world,” additional mentioned.
A consultant for Amazon mentioned, “we can’t touch upon speculative reviews with out clear methodology,” in an emailed response to ET’s queries on RedSeer’s estimates available on the market shares of the 2 on-line majors. Flipkart declined to remark.
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