No Slowdown Here !! Flipkart and Amazon sell goods worth Rs 19,000 Crores in 7 days
As per a report by consulting firm RedSeer, festive sales hosted by the e-commerce sector ended last week, with a record $3 billion (about Rs 19,000 crore) of Gross Merchandise Value (GMV)
This is a solid 30% Year on Year
growth for ecommerce sector lead by market leaders Flipkart and Amazon.
With this performance at
backdrop, the whole festive month of October is expected to generate up to $6
billion or Rs 39,000 Crores in GMV sales. This is BIG indeed.
Flipkart dominated the scene with
almost 2/3rd share of sales. It’s GMV share this year was a 60-62% Meanwhile,
Amazon’s showed year-on-year growth of 22%, and its market share was around 28%
to 30%
Anil Kumar, founder, and chief
executive officer, RedSeer Consulting, said the first wave of the festive sale
event has seen record GMV of almost $3 billion despite challenging macro
environment, indicating that consumer sentiment on online shopping remains
bullish.
Among customers, tier II and III
cities contributed a large share in driving the festive sales growth. “The
biggest theme of the festive season was ‘value shopping’ as indicated by a
large chunk of customers from Tier 2+ cities who shopped online owing to wide
selection supposed by affordability initiatives,” said the report.
Mobile phones,
like in the previous years, continued to dominate sales and accounted for over
55 percent of the GMV in the festive sale, the report added.
Prior to the sales, RedSeer had predicted a 60% jump in the number of
online shoppers from 20 million last year to 32 million this year, with
majority of shoppers coming from Tier-2 cities indicating last-mile
deliveries and breaking of vernacular problems.
image courtesy : DNA
About Us
We are a neo advisory firm that believes in Goal based investment. We offer advisory services in Mutual Funds and retirement/ Life insurance domain. For any clarification / investment needs call us on +91 9325295502.
We are now on Instagram. Visit us on www.instagram.com/growwealthadvisors
No comments