E-commerce firms, including Flipkart, Amazon, rake in Rs9,000 crore during festive season sale: RedSeer
New Delhi: E-commerce companies generated sales of an estimated Rs9,000 crore in the festive season sales offered last week on most platforms, research firm RedSeer Consulting said Monday.
“E-tailers generated their higher ever sale performance over the five festive days from September 20-24, 2017.... For these festive sale days, RedSeer analysis shows that the e- tailing industry managed to generate Rs9,000 crore/ USD 1.5 billion of sales,” the report said. This translates into a 40% year- on-year growth when compared to $1.05 billion generated in the 2016 edition, the report added.
According to the RedSeer report, Flipkart group, which included Myntra and Jabong, accounted for 58% of the gross merchandise value (GMV), while Amazon had a 26% share. Other online retail firms accounted for the remaining 16% of the $1.5 billion GMV clocked during the five days.
“Driven by their sharp advertising, robust offers and flawless execution, e-tailers have managed to largely match their pre-sales expectations and deliver the biggest sale period ever for e-tailing industry,” the report said, adding that this sets up a strong base for robust growth in the sector in the upcoming quarters.
RedSeer’s analysis, it said, was based on over 9,000 consumer surveys, more than 1,000 seller interactions among other metrics.