Amazon India gross sales higher than Flipkart, says Barclays report

By

Maverick Martins

Published
Nov 29, 2018

Global e-commerce firm Amazon has toppled Indian e-commerce major Flipkart in gross sales by a wide margin in the year ended March 2018, according to a report by investment bank Barclays. However, Flipkart is still ahead of Amazon India in terms of revenue.
 

Amazon is estimated to have had gross sales of $7.5 billion in the year, compared to Flipkart’s $6.2 billion. Flipkart continues to be bigger than Amazon in terms of revenue ($3.8 billion vs $3.2 billion), although Amazon is catching up quickly and continues to grow much faster (82% vs 47%), the report said.
 
The Barclays report further said that it expects Amazon to report gross sales of over $11 billion in the ongoing financial year, and Flipkart (excluding Myntra-Jabong) about $9 billion.

Flipkart and Amazon have been locked in a fierce battle to gain share in India’s burgeoning e-commerce market, which is tipped to grow to be worth $45 billion a year by 2020, according to Barclays.
 
Amazon declined to comment on the report while a Flipkart spokesperson told Times of India that “Flipkart remains an unquestioned leader and it has also been established by independent research houses which track the industry in India closely.”
 
Last month, a Redseer Consulting’s report had declared Flipkart as the winner of the festive sales. Flipkart had a 51 percent share while Amazon managed just 32 percent share during the festive sale.  Amazon spokesperson back then termed the report as “speculative”.