Miles ahead of Amazon? Flipkart claims it got 70% mkt share during festive sales
Flipkart has claimed it was miles ahead of Amazon during the five-day festive sales, called the Big Billion Day, which ended during the midnight of September 24. The Indian firm was confident it had captured 70 per cent of the country’s online shopping market during this period. While none of the two firms shared their data on gross merchandise value (GMV) or the number of units sold, Amazon refrained from even giving its market share figures. The preliminary data collated by RedSeer Consulting show that Flipkart is not very far from its claim. “We had estimated that sales during this period would reach Rs 10,000 crore, but now it looks like they will reach Rs 8,500 crore. Our preliminary analysis shows that Flipkart’s GMV will be close to double that of Amazon during the five-day period,” said Anil
Kumar, chief executive officer, Redseer. According to RedSeer’s initial estimates, the ecommerce market during the festive sales has grown 35 per cent over that of last year. If these figures don’t change much, Flipkart will have come close to achieving its target of $1 billion in sales during the period.
Article source-business standard