gmv amazon: Amazon, Flipkart and other e-commerce firms may clock $9 bn GMV in festive sales this year: RedSeer

A total of million shoppers placed orders across e-commerce platforms during the first week of the festive season, said the Redseer report. The most recent one was after the yearly festival sales period when Flipkart claimed its market share during the period was more than 70% of the e-commerce segment in India. It said that its sales during the period doubled compared with last year, though its marketing spend was little changed.

The Competition Commission of India is investigating allegations that the two companies promote select sellers on their e-commerce platforms and use deep discounts to stifle competition. Prosus, the Dutch-listed arm of South African technology investor Naspers, said on Wednesday that Swiggy and PayU, its food-delivery and payments companies in India, have recorded strong growth this year. It also said it stopped equity accounting for Byju’s in September as it lost its “significant influence” over the company after its stake fell below 10%. The first four days of the previous year contributed to 59%, signalling a better-than-anticipated kick-off to the festive season this year. The Minister also reviewed the implementation and progress of some of the key initiatives being driven by GeM for inclusive growth.

With the conclusion of Festive Sale 1, the online retail platforms have seen a robust 27 per cent year-over-year growth, clocking a sale of $ 5.7 billion , according to the report by Redseer. However, in the online retail market per cent of the total orders were fulfilled through 3rd party logistics players, according to Redseer. While as Flipkart’s said it achieved a significant milestone of over 1 billion customer visits on its platform during the e-commerce firm’s 8-day long festive sale event ‘The Big Billion Days’ hosted between September 23-30. However, a Flipkart spokesperson said the company’s growth in the six-month period was in the mid-80s range. Therefore, the growth numbers have a time lag of three months in the report. The report has calculated growth numbers until June, though the reporting period is September.

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During the first week of the festive season, online platforms are expected to register 30% year-on-year growth in gross GMV to $4.8 billion. According to Redseer analysis, an estimated ₹5,500 crore worth of fashion items were sold in the first four days. Fashion saw a 4.5 times jump in terms of daily average GMV from business as usual days. „GeM has over 63,000 government buyer organisations as well as over 54 lakh sellers and service providers offering a wide range of products and services,” he said. Commerce and Industries Minister Piyush Goyal reviewed the progress of GeM and congratulated the team on its achievements.

For Flipkart, 49% of its gross sales came from smartphones as per FY21, as per Bernstein estimates, while fashion had 32% share, appliances 16% and groceries 3%. Annualised sales run rate is a projection of upcoming sales based on the sales clocked in a previous month. This year’s GMV run-rate indicates more than 50 per cent growth year on year for the Walmart-owned ecommerce giant even as the sector remains in a policy flux.

Since its inception, it has facilitated over 1 gmv amazon transactions valued at over Rs. 3.02 lakh crore. Until then, all Indian government procurement was routed through the Directorate General of Supplies and Disposals, which had its origins in the India Stores Department the British set up in 1860 to centralize goods buying. GeM, however, allows sellers to transparently list their products online, and helps the government buy products at the lowest possible price. ET reported in May that BigBasket became the second vertical e-tailer after Myntra to have clocked $1 billion of gross sales in FY21 as consumers flocked online to buy groceries. Owing to the pandemic, demand for grocery and other essentials continue to remain high and Flipkart is steadily scaling up its online grocery play.

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This comes at a time when online commerce adoption is increasing, with the pandemic nudging consumers across the country to try online shopping. This year, after the second wave of Covid-19 hit their sales in many states, ecommerce platforms saw a gradual recovery in sales to pre-second wave sales unlike last year when sales spiked immediately after the national lockdown. According to Bain & Company report, India’s social commerce gross merchandise value stood at ~US$ 2 billion in 2020. By 2025, it is expected to reach US$ 20 billion, with a potentially monumental jump to US$ 70 billion by 2030, owing to high mobile usage.

• ET reported in May that BigBasket became the second vertical e-tailer after Myntra to have clocked $1 billion of gross sales in FY21 as consumers flocked online to buy groceries.
• Flipkart was also a leader in terms of order volumes, Meesho emerged the second largest, capturing 21% of the market, said the report by Redseer, a strategy consulting firm.
• Fashion contributed to 20% of gross merchandise value, which was 48% higher than last year’s festive period.
• „This response is reflected across all categories and we have overall seen a substantial increase in visitors vs 2021.
• The report found that sellers are very bullish on this year’s sales and are looking to recover the losses suffered due to Covid.

„We witnessed the highest-ever start to the event in the first 48 hours, with 8X sales as compared to the average business days. Flipkart calculates its growth based on GMV which is the value of products sold through an online marketplace before discounts. Further, these sales are expected to clock over $9 billion GMV during the entire month of festivities. This is a 23 percent increase from 2020, wherein the players clocked a GMV of $7.4 billion. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate.

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This we expect will further lead to demand recovery in the build-up to Diwali,” RedSeer stated. From a category perspective, mobiles continued to lead GMV with a 41 per cent share. “Fashion emerged pretty strong and was the highest-growth category this year. One of the reasons was because people went out more compared to in 2021,” Chaudhry explained. The growth will be mostly driven by the accelerated online adoption which has been witnessed as an effect of COVID-19.

If GeM manages to achieve the Rs 2-trillion target by FY23-end, it will save around Rs 20,000 crore to the public exchequer and public sector undertakings. This has reduced the share of cancelled tenders to single digit in several states. Pick your 5 favourite companies, get a daily email with all news updates on them.

Indian consumers are increasingly adopting 5G smartphones even before the rollout of the next-gen mobile broadband technology in the country. Smartphone shipments reached 169 million in 2021 with 5G shipments registered a growth of 555% year on year 2021. Smartphone shipments reached 150 million units and 5G smartphone shipments crossed 4 million in 2020, driven by high consumer demand post-lockdown. According to a report published by IAMAI and Kantar Research, India’s internet users are expected to reach 900 million by 2025 from ~622 million internet users in 2020, increasing at a CAGR of 45% until 2025. The recent rise in digital literacy has led to an influx of investment in E-commerce firms, levelling the market for new players to set up their base, while churning out innovative patterns to disrupt old functioning.

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The number of internet connections in 2021 increased significantly to 830 million, driven by the ‘Digital India’ programme. Out of the total internet connections, ~55% of connections were in urban areas, of which 97% of connections were wireless. The smartphone base has also increased significantly and is expected to reach 1 billion by 2026. This has helped India’s digital sector and it is expected to reach US$ 1 trillion by 2030. This rapid rise in internet users and smartphone penetration coupled with rising incomes has assisted the growth of India’s e-commerce sector.

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https://1investing.in/’s e-commerce sector has transformed the way business is done in India and has opened up various segments of commerce ranging from business-to-business , direct-to-consumer , consumer-to-consumer and consumer-to-business . Major segments such as D2C and B2B have experienced immense growth in recent years. The overall e-commerce market is also expected to reach US$ 350 billion by 2030, and will experience 21.5% growth in 2022 and reach US$ 74.8 billion. Overall, the festive sales this year saw million online shoppers, up 24 per cent from a year ago. According to RedSeer estimates, in the period between September 22-30, e-commerce platforms clocked a GMV of $5.7 billion .

• The Minister also reviewed the implementation and progress of some of the key initiatives being driven by GeM for inclusive growth.
• With the conclusion of Festive Sale 1, the online retail platforms have seen a robust 27 per cent year-over-year growth, clocking a sale of $ 5.7 billion , according to the report by Redseer.
• Swiggy has joined a growing list of tech companies resorting to layoffs amid a tough funding environment.
• This will further boost business for MSMEs and help fuel India’s e-commerce growth.

Nearly 80 per cent of the sellers surveyed said festive sales will play a key role in recovery from Covid losses. In terms of categories, mobile will continue to dominate – driven by new launches – and account for 11 per cent of the gross GMV ($4.8 billion) in the first week of festive sale. GMV, in ecommerce parlance, refers to total value of sales on a platform during a given period. This year saw the world’s largest e-commerce company at one point lose a trillion dollars in market value as growth in online shopping slowed sharply and its forecast for the all-important holiday quarter disappointed. Mobiles continue to do well, driven by upgrade programmes and new launches supported by value offers.

India’s consumer digital economy is expected to become a US$ 1 trillion market by 2030, growing from US$ 537.5 billion in 2020, driven by the strong adoption of online services such as e-commerce and edtech in the country. The Festive Sale week 1 included sale events conducted by all online retail platforms between September 22 to 30. The shopper base increased by 24% year-on-year during the first week of sales, with over 65% shoppers coming from tier 2 cities.