Festive sales may fetch Flipkart up to Rs 36,000 crore in gross sales

economictimes.indiatimes.com:

The Walmart-owned ecommerce major, which has maintained market leadership over rival Amazon India over the past two years, began the second leg of its festive season sale on Sunday after a better-than-expected start to its flagship Big Billion Days sale in early October, they added. Typically, these sales are run in three stages in order to drive a significant chunk of the total annual sales during this period.

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“The start of the sale cycle has been positive, which began on October 8 and (Flipkart) should be on track to hit GMV of around $4-$4.5 billion,” said one person aware of the sales trajectory so far. This will mark an increase of up to 15-20% from the GMV recorded by the ecommerce major in 2022.

Also read | Flipkart India logs 9% revenue growth at Rs 55,823 crore; losses widen by 42%

GMV refers to the total value of the goods being sold on an online marketplace. Flipkart earns a commission on each sale for offering its marketplace, connecting merchants and consumers.

Flipkart also generates revenue through other seller services like advertising.

A spokesperson for Flipkart did not reply to ET’s queries on the sales numbers.

Flipkart and Amazon India — the two largest ecommerce players in the country — have both indicated in press statements that the festive sales have begun on a bright note. The two companies do not share individual gross sale numbers on their platforms.

Also read | Air travel bookings surge 90% during Flipkart annual sale