Flushed with funds from their recent fund-raising rounds, e-commerce companies in India saw their highest ever monthly sales of $3.2 billion (Rs 19,000) in the one-month period of September-October.
Flushed with funds from their recent fund-raising rounds, e-commerce companies in India saw their highest ever monthly sales of $3.2 billion (Rs 19,000) in the one-month period of September-October. This was also the season that was dotted with flagship sales of e-commerce majors like Amazon and Flipkart. This revenue is 45% higher than the $2.2 billion of sales generated during the corresponding season of 2016. According to recent study by RedSeer, a consumer internet market research firm, e-tailers in India achieved the highest-ever monthly sales over the course of this festival month from September 20 to October 19, 2017. The report also said that the reason for strong sales performance in this month of current year was higher awareness of sales among the online customers, Jio’s influence that has increased internet penetration and better and more targeted selections and offers that online players gave this year compared to 2016. The other reason that the report cited was improved shopping and delivery experience.
The report also cited that because of the above mentioned reasons, there have been limited cases of shopper fatigue in spite of frequent sales events. It added that many shoppers have shifted their buying to online, attracted by the offers and greater than ever convenience of shopping. There has been of late a sort of war of words between the top two e-commerce players, Flipkart and Amazon. Both the firms have been claiming to be the leader in the market in the currently concluded festive season. Meanwhile, Noida based Paytm Mall that participated in the festive sale this year too claimed to garner a 20% market share in the recently held festive sale. The festive season sale has expanded the reach of these online marketplaces. Flipkart and Amazon have earlier stated that online sales have penetrated into hinterlands of India and lots of their new customers are coming from tier 3 and tier 4 centres.