Flipkart Tops the Chart of e-commerce Marketplaces in India

flipkart tops e commerce

27 April 2017, India:

Flipkart continues to dominate the Indian e-commerce marketplace followed by Amazon India. Paytm and ShopClues battle for the third position whereas Snapdeal has lost quite a margin and is now fifth in the rankings.

Flipkart recorded an average of 5 lakh shipments every day while Amazon closed in with about 4.5 lakh daily shipments, as per the report by ET. Snapdeal which was third on the list last year, saw its volumes dip significantly to 30,000 a day from a high of 1.5 lakh daily shipments in March 2016.

Also read- Kalaari Capital On Board for Snapdeal-Flipkart Deal

“We continue to see tremendous momentum despite our scale, growing at about 85% in Q1 this year. We cannot offer comment on any other financial details,” said a representative for Amazon India in an emailed response to ET.

Flipkart COO Nitin Seth said the group’s GMV went up by over 45% in March. He declined to share specific numbers.

Flipkart raised $1.4 billion, (that’s around Rs. 9,000 crores) one of the biggest round of funding on 10th April. It also acquired eBay India. The investment by eBay is accompanied by a strategic commercial agreement with Flipkart. In exchange for an equity stake in Flipkart, eBay is making a cash investment in and selling its India business to the company.

Binny Bansal, Co-Founder, Flipkart said, “Yeah, opportunities are definitely there on the payment side becoming a business on its own. Even if you look at the business today, a large part of the business comes from people sending money to each other on phone pay, UPI platform.”

Meanwhile, SoftBank is keen to merge Snapdeal with India’s largest e-commerce marketplace Flipkart. But, the board members are disagreeing to the terms.

Also read- 

 

Comments

comments

Send this to friend