Five day sale garners Rs 9,000 crore; Flipkart eats into Amazons revenue pie

Key Highlights

• The e-tailing industry generated Rs 9,000 crore in this festive season sale.
• Cash burning in the e-tailing industry was expected to reach upto $ 370-400 million this year on the back of large scale discounts.
• Flipkart increased its market share while Amazon and others decreased.

Pre-Diwali sales that concluded last week spiked revenue of e-commerce websites by 40% since last year’s sales. In the five days from September 20 to 24, during which many e-commerce websites held festive season sales gross merchandise value (GMV) for the industry reached Rs 9000 crore.

“For these festive sale days, RedSeer analysis shows that the e-tailing industry managed to generate Rs 9,000 Crores/ $ 1.5 billion of sales. This is compared to $ 1.05 billion generated in 2016 edition, a y-o-y growth of nearly 40%,” the report dated September 25 said.

In October 2016, GMV reached $1.05 billion and was even lower at $720 million in 2015, as per RedSeer data.

Bargain hunting Indians help e-commerce companies shore up GMVs