BENGALURU: Flipkart posted Rs 2,600-2,700 crore in gross merchandise value (GMV) during its five-day Big Saving Days sale, as the fear of stepping out amid the pandemic led a wider set of first-time and dormant users to buy online, people aware of the matter said.
This is the second such sale event organised by the Walmart-owned ecommerce major in the last two months, at a time when the battle for market share in ecommerce is getting more competitive with Reliance JioMart beginning to scale its digital presence.
GMV is the overall sales made on an online marketplace, excluding discounts and returns which are an integral part of the ecommerce market.
After a gap of almost four months, ecommerce giants resumed online sales beginning June, addressing continued demand from customers for home essentials including electronics and appliances.
“On Flipkart, there was a one-and-a-half-time spike across the platform on sale days compared to pre-Covid-19 volumes,” said a person directly in the know.
Amazon, which held its flagship Prime Day event exclusively in India on August 6 and 7, is estimated to have posted around $500 million (about Rs 3,700 crore) in GMV, according to market tracker Forrester Research. Other company executives and market insiders, however, put Amazon’s Prime Days GMV at Rs 3,000-3,200 crore.
The two e-tailers combined clocked Rs 5,600-6,000 crore of GMV, led by strong demand for categories like laptops, appliances and smartphones, which have a large ticket size compared with fashion and grocery.
Amazon and Flipkart declined to comment on the overall sale numbers.