E-commerce festive sales: Amazon, Flipkart, Snapdeal sell goods worth Rs 19,000 crore in 6 days
BusinessToday.In October 9, 2019
E-commerce companies comprising the likes of Flipkart, Snapedeal and Amazon sold goods worth Rs 19,000 crore ($3 billion) during the six-day festive sales, according to a RedSeer Consulting report.
The report further claims that the entire festive month up to October-end is likely to garner around Rs 39,000 crore ($6 billion) in Gross Merchandise Value (GMV) sales. It further states that there is a 30% increase in combined festive sales of Amazon and Walmart-owned Flipkart in terms of GMV in the year 2019 as compared to what they generated in 2018.
Flipkart dominated the festive sales (in GMV terms) with nearly 60% standalone GMV share as compared to 51% share in 2018 as well as 63% market share comprising other Flipkart group firms namely Myntra and Jabong, the report stated.
Meanwhile, Amazon held a 30% market share during this year's festive sales. Other online sellers clocked only 10% of the entire 2019 festive sales which is below the nearly 18% mark in 2018.
Like the previous year, the festive sales this year (2019) were mainly spearheaded by the mobile phone category which comprised around 55% of the overall GMV. Tier-II and III cities drove a significant percentage of sales, the report stated without divulging the numbers.
"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. Consumers have saved for and delayed their mobile purchases to the festive season, indicating the strong value shopping proposition of festive days," the report adds.
"The larger push has come from Bharat customers migrating to online shopping driven by the strong value provided from the online retailers across categories including mobiles, which have shown a strong surge during the sale event despite having a relatively slow growth in the first half of fiscal 2019," said Anil Kumar, founder and CEO of RedSeer Consulting.