Amazon Says 14 Times Value Growth On Day 1 Of Sale Boosting The Global E-Commerce Market
Amazon India claimed that it has posted a 14 times increase in value over business typically on the 1st day of its Great Indian Festival sale that ended recently. The company claims that this was possible due to sales of handsets, which might have probably taken the Day 1 sales of the company in the range of Rs 1,100–1,400 Crore. This boosted the global e-commerce market with a huge impact.
The firm claimed that it witnessed a 2.5 times growth by value over Day 1 of previous Diwali. Flipkart, its rival, had previously claimed that it is aiming to get a 2–3 times increase from last year in GMV.
The average business of Amazon characteristically is almost Rs 70–80 Crore, while average business of Flipkart is almost Rs 100 Crore, according to an industry analyst, while another claimed that average business of Amazon was almost Rs 100 Crore and that of Flipkart’s was more than Rs 115 Crore. Both requested to be unnamed.
A 3rd analyst claimed that Flipkart had reached Rs 1,500 Crore in GMV (gross merchandise value) last week at the Day 2 of its Big Billion Day sale, which was aimed on sales of smartphone.
“On Day 2, the in general sales of the industry were at Rs 3,500 Crore, while Day 1 showed Rs 1,000 Crore,” claimed CEO at RedSeer, Anil Kumar, to the media.
“On Day 1, owing to the Shraadh phase ongoing in the north till afternoon, Flipkart lost on GMV. It also sold less ASP fashion goods, and in general, its GMV on Day 1 was on par with that of Amazon’s (which had started its sales to Prime users only for 12 Hours). On the other hand, on Day 2, Flipkart has taken a noteworthy lead and appeared to have the impetus to cross its goal,” claimed Kumar.
Flipkart had set down a goal of more than $1 billion for the 5-day sale time frame and a 70–30% lead over rivalry. Last week, the Soft-Bank-supported firm claimed that it was drifting towards 60–65% share of the market for online sales at the time of BBD. The Day 3 of Flipkart’s sales witnesses a huge force for its electronics segment, with the firm saying that it had gamed a huge market share in the segment across both offline and online channels.