E-commerce players to generate $6 billion sales this festive season: Redseer
today Oct 9, 2019
Consulting firm Redseer has in its latest report has said that e-commerce companies in India such as Flipkart and Amazon could generate up to $6 billion (Rs 39,000 crore) in sales this festive season.
Redseer said that there was a 30 percent year-on-year growth during the first festive sale event held by the etailers from September 29 to October 4 which registered sales of close to $3 billion or Rs 19,000 crore.
The consulting firm further said that e-commerce giants Flipkart and Amazon had complete dominance over the smaller e-commerce players with a combined market share of more than 90 percent.
Redseer also said that Flipkart dominated the festive sales outperforming Amazon, a claim which has been dismissed by Amazon spokesperson as speculative.
"Flipkart continued to lead the festive sales in GMV terms, with 60-62 percent share of the standalone gross GMV share during sale event, and about 63 percent share if other group entities are also included (Myntra and Jabong),' RedSeer said in its report.
“Amazon's GMV growth was 22 percent y-o-y, while its volume growth rate was more than 30 percent y-o-y,” it added.
"We cannot comment on speculative reports that lack robust and credible methodology. During the Great Indian Festival (September 28-October 4), Amazon led with the highest share of transacting customers at 51 percent, order share of 42 percent and value share of 45 percent across all marketplaces in India according to Nielsen's E-Analytics empanelled read of 1.9 lakh digital users across over 50 cities," an Amazon spokesperson told news agency PTI.
Redseer, however, has backed its report and said that its approach incorporates feedback from consumer surveys, tech-based research, and behavioral analyses and validations from broader e-tailing and logistics ecosystem.