We saw that e-commerce platforms like Amazon, Flipkart, Nykaa, Meesho, Jio Mart, and Tata Group offered several festive sale dates in 2022. This year, Meesho stands second to Flipkart in terms of sales during the festivals.
What is this all about?
Reports suggest that Flipkart is victorious both in terms of orders and also gross merchandise value or GMV. During the early weeks of the festival, Flipkart was able to clock about 62 percent of the market share.
Amazon has a market share of 26 percent and the other 12 percent was gained by other e-commerce giants. When it came to the volume of orders, Flipkart led the market with about 49 percent market share followed by Meesho, which is backed by SoftBank, which had 21 percent of the market share. Amazon is at the third spot as indicated by data.
All the e-commerce platforms are going toward the objective to grab most of the market share of the $ 45 billion to $ 50 billion e-commerce industry. The industry is also expected to grow to $ 350 billion by the year 2030.
Sanjay Kothari, who is an Associate Partner in Redseer Strategy Consultants said that “Flipkart Group (Flipkart, Myntra, and Shopsy) continues to maintain its leadership position with 62 percent market share in GMV during the Festive Sale Week 1,” and also added that “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 about 21 percent of the market share while Flipkart Group leads here as well”.
Growth figures from the sale :
The data was gathered from Amazon’s Great Indian Festival and Flipkart’s Big Billion Day which happened between September 22 to 30 and September 23 to 30, respectively. On the other hand, Meesho increases holiday sales by a 68% spike in its ‘Meesho Mega Blockbuster Sale’. This event continued from September 23 to 27, 2022. About 33.4 million orders were made by customers on Meesho’s platform and about 60 percent of the orders were from Tier 4+ regions.
Redseer said that Amazon and Flipkart were able to fulfill the orders with their ATS and eKart logistics. But a total 40 % to 50% of online orders were being made by third party logistics providers. 3PL logistics groups like Delhivery, Ecom Express, Xpressbee, and many others played a pivotal role in delivering the orders to the customers.
Some Takeaways :
Amazon said that “We are delighted by the wonderful customer response to the Amazon Great Indian Festival 2022, with our first 12 days receiving the highest-ever orders
We cannot comment on speculative reports without robust and transparent methodology especially as these have not been shared with us,”. When it came to transacting shoppers, there has been a year-on-year rise of about 24 % with about 65 % of customers coming from Tier 2+ cities