New Delhi, October 8
Led by Amazon and Flipkart, e-tailers in India achieved a record $3 billion (nearly Rs 19,000 crore) of Gross Merchandise Value 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 has seen record GMV of $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 y-o-y growth during the sale period was 30 per cent. — IANS
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