New Delhi: 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 from September 29-October 4, a new report said on Tuesday.
Walmart-owned Flipkart and Amazon dominated 90 per cent of the market share during the six-day sale event, 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.
"The first wave of the festive sale event has seen record GMV of almost $3 billion despite the challenging macro environment, indicating that consumer sentiment on online shopping remains bullish," said Anil Kumar, Founder, and CEO, RedSeer Consulting.
Giving more details on their performance, a spokesperson from Amazon India says, “We cannot comment on speculative reports that lack robust and credible methodology. During the Great Indian Festival (Sept 28 – October 4), Amazon led with the highest share of transacting customers at 51%, order share of 42% and value share of 45% across all marketplaces in India according to Nielsen’s E-Analytics empaneled read of 190k digital users across 50+ cities. With orders from 99.4% pin codes, over 65,000 sellers from 500+ cities receiving orders in just five days, customers from over 15,000 pin codes joining Prime and over 88% new customers coming from small towns, this event has been our biggest celebration ever.”