Festivals are a massive business opportunity in India, and like every year, e-commerce companies went all out to milk it this time, too.
During the six-day festive sales event between Sept. 29 and Oct. 4, online retailers in India collectively clocked a gross merchandise value (GMV) of around $3 billion (Rs19,000 crore), Bengaluru-based consulting firm Redseer said in a press release from Oct. 8. GMV is the total value for goods or services sold through a marketplace.
“Flipkart continued to lead the festive sales in GMV terms, with 60-62% standalone GMV share during sale event, and ~63% share if other group entities (Myntra and Jabong) are also included,” RedSeer noted. “Strong performance across categories including mobiles was the key reason for Flipkart leadership.” The company said more than 20 models sold over 100,0000 units each during the Big Billion Days 2019—a first for any event, it claimed. “We cannot comment on speculative reports that lack robust and credible methodology. During the Great Indian Festival, Amazon led with the highest share of transacting customers at 51%, order share of 42% and value share of 45% across all marketplaces in India according to Nielsen’s E-Analytics empaneled read of 190,000 digital users across 50+ cities,” an Amazon spokesperson told Quartz.
Flipkart’s glory run was “enabled by strong value prices, high EMIs adoption and diverse selection across categories, all marketed aggressively to reach customers widely,” RedSeer said. The share of transactions via affordability constructs such as EMIs, Flipkart Pay Later and Cardless Credit increased by 70% compared to last year.