Led by Amazon and Flipkart, e-tailers in India achieved a record $3 billion (nearly Rs 19,000 crore) of Gross Merchandise Value (GMV) in the first six days of the festive sale. Walmart-owned Flipkart and Amazon dominated 90 percent of the market share during the six-day sale event held between September 29 and October 4, said Bengaluru-based research firm RedSeer Consultancy. Given the momentum seen in the first edition of the festive sale, the entire month of October is expected to generate up to $6 billion (Rs 39,000 crore) in online sales, almost shared by Amazon and Flipkart.
Flipkart continued to lead the festive sales in GMV terms, with 60-62 percent standalone Gross GMV share during the sale event, and nearly 63 percent share, if other group entities (Myntra and Jabong) are also included, said the report.
“Strong performance across categories including mobiles was the key reason for Flipkart leadership. This was, in turn, enabled by strong value prices, high EMIs adoption and diverse selection across categories, all marketed aggressively to reach customers widely,” the RedSeer report said.