New Delhi: Led by Amazon and Flipkart, e-tailers in India achieved a record of $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 percent 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. The year-on-year (YoY) growth during the festive sale period was 30 percent, with significant share coming from customers in tier II and III cities. Mobile was the category leader, contributing to over 55 percent of GMV in festive days. (IANS)