Online retailers make thousands of crores in one week


The largest online retailer in India has managed to make business of thousands of crores in the last week. This has marked the beginning of the festive season when the online retailers aim to poach a huge number of offline buyers and increase their market share.

The online retailer Flipkart claimed that it has managed to sell goods worth Rs 2,000 crore in the last five days of the discounted sale. This way, the company has increased its market share in the major product categories such as Fashion and Mobile by selling the products by almost 5 percent till December end.

The Head of Commerce at Flipkart, Mukesh Bansal stated that the retailer has achieved a market share of 60 percent in the mobile phone category and 60 percent in the fashion category as well. He stated that they aim to increase the same by 4 or 5 percent during the festive season.

Both Amazon and Flipkart have already commenced their festive season sales on October 13 while Snapdeal started its Diwali discounts on October 12. Bansal stated that the company has aggressive events lined up till December. He stated that Snapdeal will continue with its Diwali sales on Mondays till the festival of Diwali focusing on a particular category every Monday.

Flipkart ships around 8 million units per month on an average. However, the recent sale has helped the company to sell more than 8 million units in just five days. The gross value of the merchandise is almost three times more than the gross value of the merchandise that was sold in the last year.

Amazon received an unprecedented growth in the books and apparel segments. The retailer is giving free 1 kg gold for the lucky winners shopping on Amazon. The retailer has created history in the Books category by selling maximum number of books that were sold in India.




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