Flipkart Group dominates as online retailers clock 65% jump in GMV during festive sales

As per a RedSeer Consulting report, Flipkart Group, including Myntra, dominated as India’s online retailers clocked a 65 per cent jump in gross merchandise value (GMV) during festive season sales this year buoyed by pent-up demand and shopper worries on visiting retail stores during the pandemic.

The period, which stretched from mid-October to November, saw $8.3 billion in GMV, up from $5 billion last year, according to management consulting firm Redseer.

The Flipkart Group comprised 66 per cent of the overall GMV and Amazon the remainder.

This year’s festive sales also saw 88 per cent customer growth from last year, as close to 40 million shoppers from tier-2 and beyond cities tapped e-commerce platforms.

Overall, 88 million shoppers purchased goods on e-commerce platforms this festive season, with 55 per cent coming from Tier-II towns, and 45 per cent from metros and Tier-I cities.

This is sharply higher from last year’s 47 million shoppers. Factors like presale awareness, pent-up demand by customers, wide selection across categories, disruption of offline stores along with multiple credit and affordability features helped major e-commerce players drive growth this year.