This is what Amazon has to say on the report that claims Meesho beat it during festive sale – Times of India
The e-commerce giant Amazon India has termed the report of Redseer Strategic Consulting on festive season sale numbers as “speculative which lacks transparency”. The Redseer report claimed that while the Flipkart Group (including Myntra, Shopsy etc) maintains its leadership position, the Softbank-backed Meesho has pipped Amazon to become the second-largest contributor in order volume.
“We cannot comment on speculative reports without robust and transparent methodology especially as these have not been shared with us. We witnessed the highest ever start to the event in the first 48 hours, with 8 times sales as compared to the average business days. This response is reflected across all categories and we have overall seen a substantial increase in visitors vs 2021,” Amazon India spokesperson said. Amazon claimed that the first 12 days of the Amazon Great Indian Festival received the highest-ever orders.
Reacting to Amazon India spokesperson’s remark, Redseers said that the report is based on “an independent research and analysis” done every year. “While we make efforts to reach out to all major players about this exercise as well as encourage them to engage, some of them have not responded while others have. We generally do not share the results with platforms who do not wish to engage or participate in our research or discussions,” Redseer said.
What Redseer report claims
E-commerce firms are estimated to have registered a 27 percent growth, clocking sales worth Rs 40,000 crore, during the recently concluded seven-day festive season sale, the report said. “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. In terms of order volumes, Meesho, with its low average order value and high penetration in Tier-2 cities, emerged as the second largest player capturing around 21 percent of the market share while Flipkart Group leads here as well,” Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
In terms of transacting shoppers, the number increased by 24 percent Y-o-Y with around 65 percent of shoppers coming from Tier 2 cities.
Redseer has done an analysis of Festive Sale week 1 including sale events conducted by all online retail platforms between September 22 and 30, and for platforms that did not run a sale during any of these dates, the report considered business as usual order volumes. The growth in sales was driven by sales of mobile phones. “Mobile as a category continued to lead GMV (gross merchandise value) share, contributing to 41 percent of the GMV, translating to 56,000 mobiles sold per hour. On the other hand, fashion contributed to 20 percent of GMV, which grew 48 percent Y-o-Y from last festive season,” Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
(With agency inputs)
“We cannot comment on speculative reports without robust and transparent methodology especially as these have not been shared with us. We witnessed the highest ever start to the event in the first 48 hours, with 8 times sales as compared to the average business days. This response is reflected across all categories and we have overall seen a substantial increase in visitors vs 2021,” Amazon India spokesperson said. Amazon claimed that the first 12 days of the Amazon Great Indian Festival received the highest-ever orders.
Reacting to Amazon India spokesperson’s remark, Redseers said that the report is based on “an independent research and analysis” done every year. “While we make efforts to reach out to all major players about this exercise as well as encourage them to engage, some of them have not responded while others have. We generally do not share the results with platforms who do not wish to engage or participate in our research or discussions,” Redseer said.
What Redseer report claims
E-commerce firms are estimated to have registered a 27 percent growth, clocking sales worth Rs 40,000 crore, during the recently concluded seven-day festive season sale, the report said. “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. In terms of order volumes, Meesho, with its low average order value and high penetration in Tier-2 cities, emerged as the second largest player capturing around 21 percent of the market share while Flipkart Group leads here as well,” Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
In terms of transacting shoppers, the number increased by 24 percent Y-o-Y with around 65 percent of shoppers coming from Tier 2 cities.
Redseer has done an analysis of Festive Sale week 1 including sale events conducted by all online retail platforms between September 22 and 30, and for platforms that did not run a sale during any of these dates, the report considered business as usual order volumes. The growth in sales was driven by sales of mobile phones. “Mobile as a category continued to lead GMV (gross merchandise value) share, contributing to 41 percent of the GMV, translating to 56,000 mobiles sold per hour. On the other hand, fashion contributed to 20 percent of GMV, which grew 48 percent Y-o-Y from last festive season,” Redseer Strategy Consultants, Associate Partner, Sanjay Kothari said.
(With agency inputs)
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