Amazon, Flipkart, Snapdeal and others clock in $1.8 bn in revenue within 3 days of festive sales

• A Redseer report says that e-commerce companies have hit a gross merchandise value or GMV of $1.8 billion in the first 3 days of their festive sales.
• The Big Billion Days, Great Indian Festival sale, Snap-Diwali and others provide multiple offers and deals to consumers.
• The e-commerce sector will now meet 80-100% of the forecasted target of $3.7 billion GMV from the sale time alone.

It’s truly a festive season for Indian e-commerce players. A Redseer report says that e-retailers hit a gross merchandise value or GMV of $1.8 in the first 3 days of their sales.

From Flipkart to Amazon to Snapdeal, every Indian e-commerce player is currently hosting their annual sales. The Big Billion Days, Great Indian Festival sale, Snap-Diwali and others provide multiple offers and deals across products to consumers.

Redseer report further says that the e-commerce sector will meet 80-100% of the forecasted target of $3.7 billion GMV from their sales alone.

“The first three days have been a strong success for e-tailers despite challenging macro environment, indicating that consumer sentiment on online shopping remains bullish. We expect the industry to continue to do well in the remaining days of the sales event and achieve 80-100% of the RedSeer forecasted numbers for the whole 6-day event,” said Anil Kumar, Founder and CEO, RedSeer Consulting.

The mobile segment has led the sales, with 55% GMV coming from smartphones.

Amazon said that OnePlus, Samsung and Apple crossed ₹750 crore in sales within 36 hours of the sale.

In fact, OnePlus clocked in a record ₹500 crore revenue on the second day of Amazon Great Indian Festival.

“We’re honoured by the overwhelming response received as this stands testament to the highest level of customer satisfaction and the strong trust in our brand. India is one of our most important markets and we will strive to ensure an unparalleled, superior experience for our users,”said Vikas Agarwal, General Manager, OnePlus India.

This is gloom of an economic slowdown which has impacted the consumer sentiment. But the online sales seem to have altered it.

Both Flipkart and Amazon managed to open up new markets as well. As much as 91% of Amazon’s new customers came from Tier 2 and 3 towns.Flipkart said that its number of transacting customers from Tier 2 and beyond doubled over last year’s sale on the first day.