scorecardFlipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer
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Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer

Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer
Business3 min read
  • The e-commerce platforms in India achieved $5.7 billion of online retail sales during the first festive week.
  • A total of 75-80 million shoppers placed orders across e-commerce platforms.
  • Flipkart Group led the online retail sales in terms of GMV with Amazon placed second.
  • Over 56,000 mobile phones were sold per hour during the sale period, contributing to ~41% of the gross merchandise value.
Flipkart group remains the e-commerce festival sales leader in India with 62% market share in gross merchandise value (GMV), based on data from the first week of sales, according to Redseer’s Ecommerce Festive Season ‘22 report. Amazon was placed second with a 26% market share in terms of GMV.

GMV refers to the total value of items sold.

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.

As per reports, e-commerce player Amazon India has called the Redseer report on festive season sale numbers as "speculative which lacks transparency", while the consulting firm defended it as an independent research.

The e-commerce industry in India achieved $5.7 billion of online retail sales this year during the first week of festive sales, i.e 22 -30 September – which is a 27% year-on-year growth (for the first week of sales). E-commerce platforms in India usually hold three grand sales ahead of Diwali in India.

The Festive Sale week 1 included sale events conducted by all online retail platforms between September 22-30. And for platforms that did not run a sale during any of these dates, the report had considered BAU (business as usual) order volumes.

“Flipkart Group (Flipkart, Myntra and Shopsy) continues to maintain its leadership position with 62% market share in GMV during the festive sale week 1. In terms of order volumes, Meesho, with its low AOV (average order value) and high penetration in Tier-2 cities, emerged as the second largest player capturing 21% of the market share while Flipkart Group leads here as well,” Sanjay Kothari, associate partner, Redseer Strategy Consultants said.

A total of 75-80 million shoppers placed orders across e-commerce platforms during the first week of the festive season, said the Redseer report.

Over 56,000 mobile phones were sold per hour during the above-stated time frame. Mobile contributed to around 41% of the GMV. Fashion contributed to 20% of gross merchandise value, which was 48% higher than last year's festive period.

White goods (large appliances) are expected to gain momentum after the slower start, revealed Redseer.

The shopper base increased by 24% year-on-year during the first week of sales, with over 65% shoppers coming from tier 2 cities. The spend per online shopper also increased by 3%.

“Consumption, especially in Tier 2+ cities, generally tends to happen closer to festivities. While the beginning of last quarter was slow on demand, we saw a good uptick in consumer sentiment and consumption patterns in late August/ September. This we expect will further lead to demand recovery in build-up to Diwali,” said Redseer.

Spending on fashion, beauty and home decor is expected to rise further as consumers look to upgrade their homes and lifestyles, especially to welcome guests, estimated Redseer.

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