26 September 2022, Mumbai:
E-commerce marketplaces are looking at a high-growth festive season this year. Amazon and Flipkart have kick started their annual festive sales with a bang. Both companies are seeing robust growth in sales and gave early-access to paid users and saw strong growth in Tier II and beyond cities in some categories.
Amazon reportedly sold ten lakh unique products offered by small and medium businesses and startups on its platform during the first 36 hours of the festive season sale.The number of Prime members grew 1.9 times compared to last year.While the electronic and smartphone segments have traditionally driven festive sales, this year television brands were in high demand on the platform.
For Flipkart categories such as mobiles, large appliances, fashion, furniture, and home appliances saw the greatest interest.
This year, the Walmart-owned e-commerce platform has also announced a sale event on its digital B2B marketplace, Flipkart Wholesale, for its Kirana members. This sale, scheduled to run up to September 30, 2022, aims to extend the benefits of the sale to small retailers and Kirana members by giving them an opportunity to save more and increase profits.
Flipkart and Amazon dominate the e-commerce market in India. With the rise in the number of smartphones and the penetration of the internet, the Indian e-commerce market has seen rapid growth over the last few years.
