Led by Amazon and Flipkart, e-tailers in India achieved a record
$3 billion (nearly Rs. 19,000 crores) 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 crores) 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.
Nearly 15,000 sellers more than doubled the sales while millionaire sellers including "crorepati" sellers exceeded 21,000 sellers in the sale.
Aiming to bring the next 200 million consumers to the e-commerce fold, Flipkart said that "The Big Billion Days" sale witnessed almost 50 percent growth in the number of new customers compared to last year, with 70 billion views in six days of the sale.
Clocking record sales powered by shoppers and sellers from tier 2 cities and beyond, more than 50 percent of Flipkart Plus shoppers were from smaller cities and towns, while sales from tier 3 cities grew by 100 percent (YoY).
Nearly 50 percent of top sellers on Flipkart witnessed 3X growth and over 40 percent of transacting sellers during the sale were from Tier 2 and beyond towns.
