E-commerce companies clock Rs 40,000 crore sale in festive season sale, Flipkart tops order quantity: Redseer

E-commerce companies are estimated to have registered a 27 per cent development, clocking gross sales price Rs 40,000 crore, in the course of the not too long ago concluded seven-day festive season sale, a report mentioned on Thursday.

Flipkart Group, together with Myntra, Shopsy and so forth, maintains its management place, whereas Softbank-backed Meesho pipped Amazon to turn out to be the second-largest contributor so as quantity, the report by Redseer Technique Consulting mentioned.

“With the conclusion of festive sale 1, the web retail platforms have seen a sturdy 27 per cent year-on-year development, clocking a sale of USD 5.7 billion or Rs 40,000 crore,” the report mentioned.

The agency has completed an evaluation of festive sale week 1, together with sale occasions carried out by all on-line retail platforms between September 22 and 30, and for platforms that didn’t run a sale throughout any of those dates, the report thought-about enterprise as typical order volumes.

In keeping with the report, Flipkart Group led the festive sale 1 with round 62 per cent share by way of gross merchandise worth (GMV) adopted by Amazon with GMV of round 26 per cent.

“By way of order quantity, Flipkart group leads the market with about 49 per cent share and Meesho ranks second with about 21 per cent order share,” the report mentioned.

Amazon spokesperson known as the report speculative “with out strong and clear methodology particularly as these haven’t been shared with us”.

The corporate mentioned it has obtained the very best ever order in the course of the first 12 days of the festive sale.

“We witnessed the highest-ever begin to the occasion within the first 48 hours, with 8 occasions gross sales as in comparison with the typical enterprise days. This response is mirrored throughout all classes, and we now have total seen a considerable enhance in guests versus 2021. Our vendor neighborhood obtained considerably extra orders in comparison with final 12 months and are humbled by the response from clients and are grateful to our sellers and model companions,” Amazon spokesperson mentioned.

The expansion in gross sales was pushed by gross sales of cell phones.

“Cellular as a class continued to steer GMV (gross merchandise worth) share, contributing to 41 per cent of the GMV, translating to 56,000 mobiles bought per hour. However, trend contributed to twenty per cent of GMV, which grew 48 per cent Y-o-Y from final festive season,” Redseer Technique Consultants Affiliate Companion Sanjay Kothari mentioned.

When in comparison with BAU (Enterprise As Regular), cellular noticed the very best development at round 7 occasions whereas electronics and huge home equipment noticed about 5 occasions development, trend at about 3 occasions development, and different classes at near 2 occasions development. Flipkart Group maintains its management place, whereas Meesho is the second largest contributor so as quantity, in response to Redseer.

“Flipkart Group (Flipkart, Myntra and Shopsy) continues to take care of its management place with 62 per cent market share in GMV in the course of the festive sale week 1. By way of order volumes, Meesho, with its low common order worth and excessive penetration in Tier-2 cities, emerged because the second largest participant capturing round 21 per cent of the market share whereas Flipkart Group leads right here as nicely,” Kothari mentioned.

By way of transacting consumers, the quantity elevated by 24 per cent Y-o-Y with round 65 per cent of consumers coming from Tier 2 cities.

“A whopping 7.5-8 crore consumers positioned orders throughout all platforms in festive sale week 1. Tier 2 and past cities witnessed the very best Y-o-Y development in internet buyers. Furthermore, the spend per on-line shopper elevated marginally by 3 per cent in the course of the not too long ago concluded festive week,” Redseer mentioned.