Here is the etail pecking order post festive sales
, ET Bureau|
Updated: Sep 26, 2017, 09.53 AM IST
BENGALURU: Overall growth rate of the Indian ecommerce industry during the five-day festive sales slowed down marginally this year, with the market reaching $1.5-billion gross merchandise value (GMV). This number continue to remain a far cry from China, where ecommerce giant Alibaba raked in $17.8 billion in a single day during its flagship sale event in 2016.
Data from RedSeer Consulting points to year-on-year growth for 2017 being slower at 40%, compared to the 46% growth recorded between the festive sales of October 2015 and October 2016.
According to RedSeer, Amazon has lost some marketshare to Flipkart during the crucial flagship sales over the past week.
From 32% marketshare in the festive period last year, Amazon is now at 26%.Flipkart has been able to grow marketshare from 50% last year to 58%.
Flipkart had, at the beginning of the sale, said it would reach a marketshare of 70%, with the company claiming that it had achieved the target.
"This year's BBD (Big Billion Day), we have set new standards by doubling our sales versus last year, stepping up our geographic coverage and vastly increasing the reach of affordability constructs like No cost EMI, Product Exchange and Buy Back Guarantee. We believe, that our market share during the BBD event will be more than 70% of the online market," a Flipkart spokesperson said.
Amazon said it remained the largest marketplace.
"What we can say based on our data is that we remain the largest marketplace in India and the fastest growing...We have noticed poorly informed speculative reports with irrelevant sample sizes whose numbers do not add up to what we are seeing in the industry." Manish Tiwary , vice-president, category management, Amazon India.
Data from RedSeer Consulting points to year-on-year growth for 2017 being slower at 40%, compared to the 46% growth recorded between the festive sales of October 2015 and October 2016.
According to RedSeer, Amazon has lost some marketshare to Flipkart during the crucial flagship sales over the past week.
From 32% marketshare in the festive period last year, Amazon is now at 26%.Flipkart has been able to grow marketshare from 50% last year to 58%.
Flipkart had, at the beginning of the sale, said it would reach a marketshare of 70%, with the company claiming that it had achieved the target.
"This year's BBD (Big Billion Day), we have set new standards by doubling our sales versus last year, stepping up our geographic coverage and vastly increasing the reach of affordability constructs like No cost EMI, Product Exchange and Buy Back Guarantee. We believe, that our market share during the BBD event will be more than 70% of the online market," a Flipkart spokesperson said.
Amazon said it remained the largest marketplace.
"What we can say based on our data is that we remain the largest marketplace in India and the fastest growing...We have noticed poorly informed speculative reports with irrelevant sample sizes whose numbers do not add up to what we are seeing in the industry." Manish Tiwary , vice-president, category management, Amazon India.
