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Friday, March 31, 2023

Festive sales race hots up: Meesho overtakes Amazon; Flipkart leads

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SoftBank-backed Meesho has overtaken Amazon in terms of order volume during WeeK I of the
festive season this year. Meesho is now the second-largest player among the ecommerce platforms.

SoftBank-backed Meesho has surpassed Amazon in terms of order volume during the first week of the
holiday season to become the second-largest e-commerce platform.

Meesho, an internet commerce platform, owns about 21% of the market. According to consulting
company Redseer, the Walmart-backed Flipkart group dominated the market with a 49% share.

Flipkart leads in terms of gross merchandise value (GMV), or the total value of things sold, with 62%,
followed by Amazon with 26%.

Meanwhile, Amazon stated in a statement that it cannot comment on speculative reports because they
lack strong and transparent methodology.

An Amazon representative stated, “We had the highest-ever start to the event in the first 48 hours, with
8X sales compared to normal business days. This reaction is replicated across all categories, and we have
witnessed a significant boost in traffic compared to 2021.”

The company’s seller community got much more orders this year, according to the spokeswoman.

According to a Redseer analysis, online shopping platforms grew 27% year on year, with sales of Rs
40,000 crore ($5.7 billion).

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