Flipkart, Amazon sold goods worth $3.1 billion

During the ongoing festive sales, major e-commerce platforms such as Flipkart, Amazon and Snapdeal have already garnered 77% of the estimated sales so far. Between October 15 and October 19, online retailers have already enabled the sale of goods worth $3.1 billion, out of the probable gross sales worth $4 billion. In the series of festive season offerings, the first sale event is usually marked with The Big Billion Days by Flipkart and the Great Indian Festival sale by Amazon. Apart from this, similar events by other online platforms such as Paytm Mall, Snapdeal and Shopclues took place. Due to the safety in ordering online, we have seen the consumption recovery in recent times.

As compared to the sales of festive days of 2019, the rise in sales is slated to be about 50% more. However, this would lead to only 75% of the about $6.5 billion sales between October 15 and November 15. Apart from this, in the festive month, about 55-60 million e-shoppers may take part in the festive month. This festive month, some marketing research reports have estimated a 34% growth in online retail spending from $4.8 billion during last year’s festive month. Last year’s festive sales took place from September 25 to October 29.

Due to its strength in the fashion and smartphone categories, Flipkart has headed spending during the festive month since its launch in 2014. In India this accounts for about 50% of total online retails sales. So far, the festive sales have seen a good enough turnout despite the pandemic.

Courtesy: Financial Express

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