A combined gross sales of Rs.6,500 crore in a mere 5 days shows the potential the e-commerce industry is heading to. Sales saw a 20% increase from past year.
Bengaluru, India. Red Newswire/--
India's most popular online festive season sale just ended on Thursday with spectacular results. The Indian online retailer, Flipkart has proved that Indian firms can certainly give a head on competition to western companies like Amazon.
According to a recent report by the Financial Express, the combined sales of the e-commerce companies, Flipkart, Amazon and Snapdeal totaled up to be around Rs 6,500 crore indicating a 20 percent increase as compared to the previous year. The Bengaluru-based e-commerce entity made a brilliant 15.5 million unit sale during the five day seasonal sale. The company has finally pipped its rival US online retail giant Amazon.
Flipkart's Big Billion Days(BBD) event registered a gross sale approximating to Rs 3,000 crore during the five day event as reported by Mint. However, according to industry sources Flipkart netted a gross merchandise value of around Rs 2,200 crore.
The gross sale amounting to Rs 3,000 crore during the period was however far more less than the company's expected internal target of Rs 4,000-Rs 5,000 crore. Flipkart also said that it registered its largest one day sale on Monday with a sale of products worth Rs 1,400 crore. Though the figures were not tallied with Amazon India as the sale amount in terms of value was not available, the figures are more likely to be lower than Flipkart according to a Mint report.
According to the Times of India, Amazon India received orders approximating to Rs 1.5 crore during the five day sale which turns out into a gross sale of about Rs 3,000-Rs 3,500 crore. The impressive achievement by Flipkart turns out to be a major reprieve for the company given to its suppressed sales early this year and Amazon's rapid success.