Lodged amid the festive season in India, the major annual sales did turnout huge sales figures for both Flipkart and Amazon. The ‘Big Billion Days Sale’ and “The Great Indian Sale” by Flipkart and Amazon respectively started on the 29th September and went on till 4th October 2019. The sales featured massive discounts, flash sales, financing options and new product launches that kept the customers glued to their screens all along.
When it comes to business, we all love to see the sweet rivalry between the Indian hero Flipkart and the worldwide Mogul Amazon. They are known to deploy deep and mind-blowing strategies to capture the most number of customers in the Indian market. However, it is not always sunshine for both brands. This year’s festive sales were not about the sale numbers and profits. Instead, it was a straight-out battle to see who is the leader of the Indian e-commerce market.
According to a survey by Redseer, the e-commerce industry amassed $3billion worth Gross Merchandise Value (GMV) during the period (September 29-October 4) massively led by Amazon and Flipkart, the e-tailers’ year-on-year growth during the 6-day sale was 30%, said the report, which had predicted a 60-65% growth with a $3.7 billion GMV.
Walmart-owned Flipkart surpassed the Amazon’s GMV share this year holding a 60-62% standalone GMV share during the festive sales and 63% share if other entities are included (Myntra and Jabong), said the report. Meanwhile, Amazon’s GMV year-on-year growth was 22 %, and its volume growth rate year-on-year was more than 30%.
This year the e-commerce marketplaces focused on offering value shopping which became a great idea as it attracted many customers from the Tier-2 cities. The marketplaces provided their customers with amazing affordability initiatives, extended logistics and breaking the vernacular barriers. Manish Tiwary, Vice President, Category Management, Amazon India had said that events like the Great Indian Festival helped the firm bring the next 100 million customers online, many of these from tier 2, 3 or even 4 towns.
As per RedSeer, the whole festive month is expected to generate up to $6 billion or Rs 39,000 crore in sales. It can be a great opportunity for small brands to get maximum number of sales this year. Take your business online with FinPlus and see your business skyrocket this diwali.
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