India's famed online festive sales season spanning five days concluded on Thursday, and the verdict is out that India's home-grown online retailer Flipkart has put out a spectacular performance, outselling both close rival, Amazon and also, Snapdeal.
The combined sales of all the three e-commerce entities was pegged at around Rs 6,500 crore, up 20 percent over the previous year, according a report in Financial Express
By selling 15.5 million units in the five days online spectacle, the Bengaluru-headquartered Flipkart pipped its nearest US-based online retail giant Amazon, whose Indian arm in comparison sold 15 million units during the period, a Mintreport report said.
The company's flagship Big Billion Days (BBD) sale event registered gross sales of approximately Rs 3,000 crore during the five-day event, the Mint report said. However, industry sources told FE that the five day sale netted Flipkart a total gross merchandise value (GMV) of around Rs 2,200 crore - Rs 2,300 crore.
Gross sales of Rs 3,000 crore, however, appears to be far less than Flipkart's internal target to achieve gross sales of Rs 4,000-5,000 crore during the sale season.
Earlier this week, Flipkart said that the company recorded its highest-ever single day sales on Monday, selling products worth Rs 1,400 crore.
“Flipkart’s Big Billion Days is one of the signposts that defines our vision for transforming commerce in India by delivering high quality products to every customer that shops on Flipkart and to make these products accessible and affordable," the Mint report said quoting a Flipkart spokesperson.
Although Amazon India's sales numbers in value terms were unavailable, its figures are more likely to be lower than that of Flipkart, the Mint report said.
However FE reported that Amazon India's GMV stood at Rs 1,550 crore - Rs 1,650 crore, up 41 percent over the previous year. Similarly, Snapdeal's GMV sales rose 7 percent over the previous year to Rs 800 crore.
A day earlier, Times of India reported that the Amazon, the US online retail giant's Indian arm registered orders of around 1.5 crore units during the sale season, which could translate into sales of around Rs 3,000-3,500 crore of gross sales. Snapdeal also claimed that nearly 11 lakh buyers from over 2,800 cities and towns across India bought products on its marketplace in the first 16 hours of its sale.
Flipkart's impressive sales numbers, both in volume and value front, comes as a major respite to the company, especially given its subdued sales performance earlier this year and Amazon's rapid march backed by its robust capex plans.
While Amazon has committed to spend $5 billion on its Indian arm, and recently indicated that it would infuse another $2 billion this fiscal, Flipkart, too, is reported to be in talks with US retail giant Walmart to sell a minority stake in return for a cash infusion of $1 billion.
Published Date: Oct 07, 2016 12:05 pm | Updated Date: Oct 07, 2016 03:02 pm