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<ul><li>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. </li><li>The Big Billion Days, Great Indian Festival sale, Snap-Diwali and others provide multiple offers and deals to consumers. </li><li>The e-commerce sector will now meet 80-100% of the forecasted target of $3.7 billion GMV from the sale time alone. </li></ul>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 <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-sales-beat-slowdown-blues-to-lift-consumer-sentiment/articleshow/71384852.cms">consumer sentiment</a>. 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.

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

<ul><li>Flipkart leads in <keyword id="554032" type="PERSON" weightage="20" keywordseo="Smartphone-sales">smartphone sales</keyword> with a share of 57%. </li><li>Amazon’s share also grew by 75% year-on-year. </li><li>Xiaomi drove growth on both Flipkart and Amazon. </li></ul>Indian e-commerce giant Flipkart is leading in online sales of smartphones in India. Amazon came in second while Xiaomi’s Mi.com platform came in third. The sales were driven by brands like Xiaomi, Realme and Samsung which continued to grow strong. Realme recorded a massive year-on-year growth. Flipkart leads the online smartphone market Flipkart accounted for 57% of the smartphones sold online in India in the third quarter of 2019. It recorded a healthy lead of 24 percentage points over Amazon. However, Amazon grew faster at 75% year-on-year, accounting for 33% of the smartphones sold online. Xiaomi’s Mi.com platform accounted for 9% of the smartphones sold online in the same period. Xiaomi continues to lead the Indian market Xiaomi capitalized on its strong line-up of value-for-money smartphones like the Redmi Note 7 Pro, Redmi Note 7S and the Redmi 7A. In addition to selling 9% of the total smartphones on Mi.com, Xiaomi also drove smartphones sales on both Flipkart and Amazon. In total, Xiaomi accounted for 38% of the total smartphones sold online. Realme, a relatively new entrant in the market registered massive growth in its sales. According to the Counterpoint <a href="https://report.counterpointresearch.com/posts/report_view/IndustryBeats/1561">report</a>, Realme registered a growth of 4.5 times year-on-year, leapfrogging its sister companies like Oppo and Vivo. Samsung made gains as well due to good line up Galaxy M30s, which offers long battery life thanks to its 6,000mAh battery. Vivo reached the fourth position for the first time ever thanks to aggressive pricing of smartphones like the Vivo U10, Z1x and the Z1 Pro. OnePlus has continued to lead the premium smartphone segment despite its prices creeping up with every launch. This segment registered a healthy growth of 79%.

Flipkart beats Amazon to become the top retailer of smartphones online

<ul><li>The customer may bear the ultimate brunt of new regulations implemented by the Indian government on the e-commerce giants, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. </li><li>One of the main perks of shopping online has been that items were generally more affordable, especially during the sales — which may not be the case anymore with the negation of deep discounts. </li><li>Products will no longer be ‘exclusive’ to any platform, potentially making it difficult for sellers to set up marketing budgets with the e-commerce companies. </li><li>There still may be one loophole that the companies can take advantage of, but the official statement is that they’re still evaluating what the new directives entail.</li></ul>E-commerce business have become a part our day-to-day lives. When you’re not in the mood to brave the holiday crowd — or maybe you’re just feeling lazy — online shopping offers an easy, not to mention efficient, reprieve. The <a href="https://www.businessinsider.in/indian-government-tightens-rules-e-tailers-like-flipkart-and-amazon-wont-be-allowed-to-sell-products-by-companies-they-back/articleshow/67266013.cms">new directives</a> issued by the Indian government aren’t just about how it’s going to affect Walmart’s bottom line after it’s expensive Flipkart acquisition or how either company is going to re-align its supply chain — it’s about how it’s going to affect your shopping experience come February 1, 2019, when the changes come into effect. Ultimately, it’s not the sellers or the e-commerce platforms that are going to bear the brunt. It’s going to be online shoppers, like you and me, who are now accustomed to deep discounts, who may end up paying the price — quite literally — at least in the short run. No more deep discounts Diwali, Holi and Christmas — even Republic Day and Independence Day — were joyous occasions with Flipkart (including its subsidiaries Jabong and Myntra) and Amazon offering huge discounts of up to 80%. Even the average rate of discounts leveled out is at somewhere around 60%. Those discounts may be not be around anymore. Until and unless the e-commerce giants can find a way around the new policy implemented by the Indian government, shopping online may not be as affordable. On the other hand, it’s also possible that a neutral marketplace could encourage more competition that could ultimately benefit the consumer. But online retail only accounts for 2.9% of all retail sales in India, so e-commerce penetration is pretty limited to begin with and not an immediate threat to traditional retail. No more ‘exclusive’ launches Initially you may think that it’s not a bad thing that products will be available on all platforms rather than just being a ‘Flipkart-exclusive’ or an ‘Amazon-exclusive’, but being exclusive is what played a big part in allowing products to bundle in special offers. For example, the ASUS Max Pro M2 is a ‘Flipkart exclusive’ phone and it’s able to offer Flipkart’s ‘Complete Mobile Protection’ at just ₹99, which is costs ₹999 otherwise. Being an exclusive vendor will Amazon and Flipkart has its own perks like asking for a commitment on their marketing budget allowing them price their product accordingly. That being said, the next Xiaomi or OnePlus launch is probably not going to be a Amazon or Flipkart ‘exclusive’. The business of affiliate companies So the main crux of the Indian government’s new policy is that ‘American companies are barred from selling products supplied by affiliate companies on their Indian shopping sites’. As a consumer, you’re hardly paying attention to the ownership of the company — if it talks like Amazon, walks like Amazon, then it’s probably Amazon. Unfortunately, that’s not quite the case. Under the law, these companies are barred from selling any products directly. That means they have to set up local companies to be able to sell all the products we see on the site — that includes everything from books, groceries to electronics — not just the Echo etc. Kishore Biyani, owner of the Future Group, <a href="https://www.ft.com/content/0c65e79e-0996-11e9-9fe8-acdb36967cfc">told local media</a> that a move like this would force the e-commerce companies to become ‘genuine marketplaces’. But, experts <a href="https://www.nytimes.com/2018/12/26/technology/india-amazon-walmart-online-retail.html">argue</a> that it’s going to be the customer that’s ultimately going to suffer because traditional Indian sellers aren’t in a position to offer a customers an experience that’s at par with what e-commerce companies were able to accomplish. Some have even termed the new regulations as being ‘regressive’. But, there’s still a loophole. Flipkart and Amazon can still buy whatever they want to buy, and buy as much as they want to buy. Since they can’t sell to consumers — they can sell the products to their affiliates. Now, the affiliates can’t sell on the platform either — but they can sell to other companies, or directly to consumers in some way, at whatever price they want. The impact of the new regulations will only play out once the deadline of February 1, 2019 hits. As of now Amazon and Flipkart have stated that they’re still evaluating the new regulations. The Indian government seems to have a taken a turn from rolling out the red carpet for foreign investors, to pulling it out from under their feet — at the behest of protests put up by the local retailers. See also: <a href="https://www.businessinsider.in/indian-government-tightens-rules-e-tailers-like-flipkart-and-amazon-wont-be-allowed-to-sell-products-by-companies-they-back/articleshow/67266013.cms">Indian government tightens rules: E-tailers like Flipkart and Amazon won't be allowed to sell products by companies they back</a> <a href="https://www.businessinsider.in/amazon-wants-to-sell-insurance-policies-to-indians/articleshow/65856480.cms">Amazon wants to sell insurance policies to Indians</a> <a href="https://www.businessinsider.in/clash-of-the-titans-amazon-walmart-and-alibaba-to-battle-it-out-in-india/articleshow/65491805.cms">Clash of the titans: Amazon, Walmart and Alibaba to battle it out in India</a>

The Indian government just dealt a serious surprise to Amazon and Flipkart — Here’s what that means for online shoppers

It’s a known fact that ecommerce in India has revolutionized the way people shop. With the best deals and better varieties, buyers are spoilt for choice. And now the Big Billion Days organized often by the ecommerce firms are another game changer in Indian retail. Why? 
Well, believe it or not, Flipkart has attracted 20 million visitors to its online marketplace in just the first 19 hours of 'The Big Billion Days' sale. 
 
The sale, which began yesterday is on for five days. 
 
Flipkart is running the mega sale at the same as 'The Great Indian Festive Sale' of its rival Amazon India and Snapdeal's 'Diwali Sale'. 
 
"We are seeing massive customer engagement with over 20 million total visits in just 19 hours since the event opened on midnight. We are confident that over time Big Billion Days will emerge as one of world's biggest online shopping event," said the spokesperson of Flipkart. 
 
Flipkart had earlier said that it had sold a million products in the first 10 hours of the sale. 
 
The company also credited itself for making these sale events an industry event for the e-commerce players. 
 
"Big Billion Days has become the de facto online shopping event for India. We are happy to note that other ecommerce players have followed Flipkart in making Big Billion Days an industry event," the spokesperson said. 
 
Earlier in the day Amazon India said October 13, the first day of the 'Great Indian Festive Sale' was the biggest day yin the history of the company, without disclosing total figures. 
 
Snapdeal, which conducted a sale of electronic goods on October 12 also announced that the sale had exceeded its expectation with an overwhelming response from customers across the country. The company recorded an increase of 17 times in revenue and was set to cross $100 million (about Rs 651 crore) in sales by the end of the day, it said.

​Unbelievable! Flipkart’s already had 20 million shoppers and its only been a day to the Big Billion Day sales!

<ul><li>E-commerce players in India including <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and Amazon reportedly stand to suffer a massive setback in sales if India’s new foreign investment restrictions come into effect on February 1. </li><li>Both Walmart-owned Flipkart and <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> are among companies whose sales may be hit by a loss of $46 billion by 2022. </li><li>However, the government change its stance on India’s new <keyword id="3557940" type="PERSON" weightage="20" keywordseo="e-commerce-policy">e-commerce policy</keyword> clarifying that e-commerce companies will still be able to sell their private labels. </li><li>If the change is implemented, it will probably force e-commerce players to rethink their supply chains. </li></ul>E-commerce businesses in India including Amazon India and Walmart-owned Flipkart may witness a decline in online sales to the tune of $46 billion by 2022 once new rules go into effect on February 1, Reuters reported, citing a draft analysis by PwC. The new regulation mandates that foreign e-commerce businesses can no longer sell goods from companies or entities in which they own a stake. But the government’s position is a unclear after they <a href="https://www.businessinsider.in/amazon-and-flipkart-are-off-the-hook-youll-still-be-able-to-buy-the-amazon-echo-and-marq-products-online/articleshow/67379751.cms">‘clarified’</a> that e-commerce companies can still sell products under their own private label. According to the report, the total volume of sales of goods sold online through digital platforms may see a decline by $800 million in the current fiscal year if the policy does come into effect in February. Revenue will continue to sharply drop over the next three years for those companies that will be forced comply with the new rule. Despite this, the sales may grow but won’t be able meet expectations because of the policy change. Both Amazon and Flipkart — who have majority (70%) of revenue share in the online retail industry of India — are <a href="https://qz.com/india/1525199/modis-new-fdi-rules-will-badly-hit-amazon-india-flipkart/">dependent on sales </a>through group companies for half of their sales, reported Quartz. The new e-commerce rules by the Indian government are aimed at safeguarding the interest of local traders. However, the new rules may also <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">impact consumers</a> who are now accustomed to deep-discounts and ‘exclusive’ launches, which may take a hit as a result of changes in their business model. Before the policy was announced on December 26, Morgan Stanley estimates showed that India’s e-commerce market would witness 30% growth year-on-year over the next 10 years reaching a value of $200 billion by 2027. Amazon and Flipkart, along with other stakeholders, are reportedly <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">teaming up</a> to lobby against the new regulations since it will severely impact their supply chain operations. See also: <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">The Indian government just dealt a serious surprise to Amazon and Flipkart — Here’s what that means for online shoppers</a> <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/amazon-and-flipkart-are-off-the-hook-youll-still-be-able-to-buy-the-amazon-echo-and-marq-products-online/articleshow/67379751.cms">Amazon and Flipkart are off the hook — You’ll still be able to buy the Amazon Echo and MarQ products online</a>

India’s curbs on e-commerce businesses could cost them $46 billion by 2022: Report

Revenue from online ticketing on Indian Railway Catering and Tourism Corporation (<keyword id="65866" type="COMPANY" weightage="100" keywordseo="IRCTC">IRCTC</keyword>) exceeds the total sales of <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword> India combined together. While both Flipkart and Amazon India had claimed to hit an annual gross merchandise value of a billion dollar in the last financial year, IRCTC garnered about $2.5 billion (Rs15,410 crore) through online sale of tickets. 
 
According to a media report, both Amazon India and Flipkart are in talks with IRCTC as they want to exploit its vast database of more than 21 million customers. "Tie-ups with portals like Flipkart, Amazon etc are in the process under which these portals would like to sell their merchandise through IRCTC's portal, it being one of the largest e-commerce sites in the entire Asia-Pacific region," said Sandip Dutta, public relations manager at IRCTC. 
 
However, in spite of having phenomenal web traffic, IRCTC can't boast of a valuation like Flipkart or Amazon. "Being a government company, its slow decision making, red tapism, less innovation leads to non interest by investors, which in turn leads to a lower valuation. Margins of travel are much lower than margins commanded by selling goods online too," said Rakesh Nangia, founder and managing partner of Nangia &amp; Co, a tax and transaction advisory firm. 
 IRCTC had partnered with <keyword id="889290" type="COMPANY" weightage="60" keywordseo="Yebhi">Yebhi</keyword>.com last year. But the contract wasn’t renewed after its expiry.

Amazon India, Flipkart May Tie Up With IRCTC To Leverage Its Vast Database

<ul><li>Amidst an economic <keyword id="29405" type="COMPANY" weightage="20" keywordseo="slowdown">slowdown</keyword>, e-commerce players are having a great run with their festive sales.</li><li>Flipkart CEO Kalyan Krishnamurthy said that e-commerce has uplifted the consumer sentiment.</li><li>Flipkart and Amazon have their annual festive sales ongoing – The <keyword id="2546653" type="PERSON" weightage="20" keywordseo="Big-Billion-Day">Big Billion Day</keyword> sale and The <keyword id="3723185" type="PERSON" weightage="20" keywordseo="great-indian-festival-sale">Great Indian Festival Sale</keyword>.</li></ul>Indian e-commerce has done what many sectors could not – reversed the dull consumer sentiment, with their festive sales. “There is no doubt that e-commerce has not only lifted consumer sentiment but has also driven the industry to set new benchmarks. Affordability and value driven themes clearly are the pulsating chords for India and Bharat,” said Flipkart CEO Kalyan Krishnamurthy. The opening day sales of both the e-commerce companies were twice what they saw in last year’s sale. On Amazon, brands like OnePlus, Samsung and Apple crossed ₹750 crore in sales, within 36 hours. Television sets like the Mi 50 4k was sold out in 30 seconds via flash sale. Harminder Sahni, founder &amp; MD, Wazir Advisors, agrees with Krishnamurthy that these sales uplifted the consumer sentiment. “Even if only a small percentage of total Indians buy online, the amount of noise e-commerce players make about sales excites all consumers. They go out to check whether same offers are available offline too and many times they find that these offers are there as well. So yes, while offline retailers are conservative in spending money on advertising they do get the benefit of e-commerce spending,” Sahni told Business Insider. More importantly, both Flipkart and Amazon also managed to open up new markets. Amazon saw 91% of new customers coming from Tier 2 and 3 towns, whereas Flipkart stated that its number of transacting customers from Tier 2 and beyond have doubled over last year’s sale on the first day. And it is not just discounts that is bringing in customers. “Affordability programmes such as no-cost EMI, exchange, instant bank discounts and more continue to enable record number of customers to upgrade to premium products. With more first-time shoppers from small towns than ever before and tens of thousands of small sellers across India already seeing success, we are excited,” said Manish Tiwary, Vice President - Category Management, Amazon India.

Flipkart and Amazon sales beat slowdown blues to lift consumer sentiment

<ul><li>Founded in 2007, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has been a Singapore-registered entity since 2011 and is today owned by US retail giant Walmart. </li><li>The US retail giant owns a 77% stake in Flipkart, which it acquired in 2018 for a whopping $16 billion. </li><li>However, Flipkart wants to stress on the ‘home grown’ part as competition from <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> grows.</li></ul>The competition is India’s e-commerce space is hotter than ever before. Amazon, Flipkart, and now, Reliance are fighting each other tooth and nail for the multi-billion dollar online retail pie in India. Flipkart’s Big Billion Days <keyword id="6371194" type="UNKNOWN" weightage="20" keywordseo="sale">Sale</keyword> kicking off today will be the 2nd mega sale for online shoppers this year after Amazon’s Prime Day. But burning cash through discounts isn’t enough to sustain the business, and all the players know that. Brand differentiation will be key. With that in mind, Flipkart is going for the ‘home grown’ tag. “We have very less focus on what the competition is doing but instead we focus on what customers are looking for. We take pride in every single thing we have done, it’s a local playbook, it’s not an adaptive playbook from somewhere else. Everything that we do our team brings us together, it’s not something that has happened in the US,” Flipkart’s Chief Corporate Affairs Officer Rajneesh Kumar told Business Insider in an interview. The fact is that Flipkart, founded in 2007, has been a Singapore-registered entity since 2011 and is today owned by US retail giant Walmart. The US retail giant owns a 77% stake in Flipkart, which it acquired in 2018 for a whopping $16 billion. Flipkart’s visionary founders Sachin Bansal and Binny Bansal, have now both left the organization, even though Binny continues to hold stake in the e-commerce company. This is not the first time. The company in multiple<a href="https://www.livemint.com/companies/news/with-an-eye-on-next-200-mn-internet-users-flipkart-introduces-hindi-interface-1567510409958.html"> interviews</a> has stressed upon being a ‘home-grown company’. And Flipkart isn’t shy of turning to Walmart when it’s needed. When talking about how Flipkart has a huge focus on the grocery segment, Kumar said, “We have a huge backing of our parent company which is best in grocery. Walmart’s business is 60-70% in food, so whenever Flipkart seeks the help, we can get the best practices.” However, Kumar is quick to add that, “Walmart really wants to ensure that the Flipkart DNA of entrepreneurial ability sustains. We call it the soft hug.” Amazon too calls itself ‘India’s Apni Dukaan’ Amazon founder Jeff Bezos had famously said, “Amazon is India’s apni dukaan’. Bezos’ gesture acknowledged India’s huge internet market where e-commerce still hasn’t seen its full potential, According to <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-india-gross-sales-to-hit-32bn-in-4-yrs-report/articleshow/70883574.cms">reports</a>, Amazon expects to have a 35% market share in India by 2023, with the Indian market making up for 4% of its total global sales. The number of online shoppers in India is expected to grow exponentially and both Amazon and Flipkart do not want the ‘outsider’ image to hamper their prospects. Ashwin Raghunath contributed to this article.

Flipkart wants to be an ‘Indian’ company even though Walmart owns it

Consumer spending in India is soaring during the festive season, with people splurging on cars, smartphones, TVs and other items, boosting the country's economic growth, media reports said. Sales at e-commerce platforms like <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> surged by almost a fifth in the first week of the festive season, compared to the same period last year. Digital payments made via Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) also increased by 40# in October from a year earlier. Economists see easing inflation and rising wages, especially in rural areas. Consumer confidence hit a four-year high in September, according to the latest figures by the central bank, and demand for bank loans is near a 12-year high despite interest rate hikes this year. According to the International Monetary Fund (IMF), India's GDP will grow at the fastest rate among major economies in 2023 and 2024, at 6.3% in both years. Aside from the festive season, the Cricket World Cup and the forthcoming wedding season are likely to boost consumption. Online sales from Amazon, Flipkart and others reached 47 billion rupees ($565 million) in the week through October 15, said the report by the market research firm Redseer Strategy Consultants. High average selling price (ASP) items such as mobiles, electronics and large appliances emerged as the largest contributor to the sales, driving 67# of the total sales, it mentioned. Flipkart Group continued to assert its leadership in week 1 of the festive season sale, further gaining market share over last year's sales to reach 63# in terms of Gross merchandise value (GMV). Amazon, Flipkart, Myntra and others began the festive season sales from October 7 which is expected to reach Rs 90,000 crore worth of online GMV in the festive month -- up 18-20# from last year's festive month sales.

Indians spent big on festive season sales, UPI transaction up 40% in Oct: Report

<ul><li>Flipkart Internet, which handles the e-commerce arm of the company, saw a 40% rise in losses adding up to ₹1,624 crore.</li><li>Amazon India’s e-commerce vertical – Amazon Seller Services saw a 9.5% decrease in losses to ₹5,685 crore.</li><li>Amazon Pay saw its losses grow by 24.7%.</li></ul>The e-commerce giants in India – Flipkart and Amazon, have both posted massive losses for the financial year ending March 2019. The report card Flipkart Internet, which handles the e-commerce arm of the company, <a href="https://www.livemint.com/companies/company-results/flipkart-s-net-loss-rises-86-to-rs-3-837-cr-in-2018-19-11572290528106.html">saw </a>its losses widen by 40% to ₹1,624 crore. However, its operating revenues grew by 51% to ₹4,234 crore. That’s not all, Flipkart’s net loss also expanded by a whopping 86% to ₹3,837 crore. Meanwhile, Amazon India’s e-commerce vertical – Amazon Seller Services saw a dip in its losses which came in lower by 9.5% dip at ₹5,685 crore. Amazon’s revenues also grew by 55% to ₹7,778 crore. Its total losses in India crossed the ₹7,000 crore mark. Another blow to Amazon came with its payment arm – <a href="https://www.livemint.com/companies/company-results/amazon-india-s-e-commerce-arm-narrows-fy19-loss-to-rs-5-685-cr-11572291190455.html">Amazon Pay</a> which too posted record losses. It posted a to ₹1,160.8 crore loss which was 24.7% more than its previous fiscal’s loss. Continued investment, despite losses Amazon and Flipkart put together hold about 80% of India’s e-commerce share. So, even with the losses mounting, the two companies continue to fight it out in the market with sales and discounts. In the run up to the festive season, Amazon hit 344 million visits, Flipkart and Myntra combined had 314 million visits in September. Amazon and Flipkart individually had over twice the number of visits than that of Snapdeal, Club Factory, Shopclues, Tata Cliq and Paytm Mall combined.

Flipkart and Amazon are selling more but losing even more

As the competition for the top spot in India’s <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> market heats up, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> India is throwing caution to the wind and slashing <keyword id="52650" type="ORGANIZATION" weightage="20" keywordseo="commissions">commissions</keyword> in order to increase sales in certain categories. As of 15 July, Amazon will cut the fees it charges from <keyword id="303254" type="PERSON" weightage="20" keywordseo="Sellers">sellers</keyword> across 22 product segments such as furniture - a potential growth driver - as well as watches, luggage, eyeglasses and undergarments. The fees charged to sellers include a referral fee, which is a fixed percentage of the total price of the item, as well as shipping and handling fees. Amazon has come under fire in recent years, not only in India but in the US as well, for the high discounts it offers on products, thereby resulting in lower returns for sellers. The move to reduce selling costs will result in improved margins for suppliers and help attract more of them to Amazon’s platform. Second reduction this year This is the second time that Amazon has modified its referral fee structure this year. In April, it reduced fees for around 32 categories of products - including the popular apparel and grocery categories - but increased fees for 24 other segments like footwear. The fee structure for electronic devices remained the same. <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> countered the move soon after with a reduction in fixed fees on all products that were less than ₹500. Amazon’s latest move follows Walmart’s decision to acquire a 77% stake in Indian e-commerce leader Flipkart. As competition between the two entities heats up, they will try and lure more customers with heavier discounts and suppliers with lower seller charges. According to <a href="http://browntape.com/ecommerce-seller-fees-calculator/">Browntape</a>, an online sales service, on an average, sellers actually receive the highest value for their products on Amazon, earning 81% of the selling price of a product compared to 72% for both Flipkart and Paytm Mall. This is mainly due to the fact that Amazon charges one the lowest marketplace commission rates. The latest round of reductions will be effective at the tail end of Amazon’s upcoming Prime Day Sale, which will take place between 7 and 15 July across all countries that it operates in. Over the course of the Prime Day Sale, Amazon offers lavish discounts to all its Prime subscribers.

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