Flipkart still maintains its leading position in Indian festival sales!

Although Snapdeal is generally considered to be the third largest e-commerce platform after Flipkart Group and Amazon, new players such as Meesho and DealShare are quickly catching up.

A recent report by local media Moneycontro l stated that Flipkart has begun to use Meesho, which has received approximately US$870 million in funding this year, as its main competitor, so much so that it has set up a team of 20-30 people to closely monitor its progress.

PGA Labs’ holiday sales data is consistent with data released by RedSeer Consulting last month. The company estimates that Flipkart Group will account for 62% of this year’s holiday sales, with a total GMV of US$9.2 billion, up from US$7.5 billion in 2020.

According to RedSeer’s data, by 2021, the country’s overall online shoppers base has increased by 25% over the previous year, reaching 100 million. However, this still means that less than 10% of Indians shop online, which suggests that there is still a lot of room for growth.

By 2025, the number of online transaction users is expected to increase to 350 million, with most shoppers coming from small cities in India.

In the context of the wider adoption of online services and digital payments, PGA Labs estimates that in the fiscal year (FY) ending in March 2022, India’s e-commerce market will grow to 60 billion U.S. dollars.

PGA Labs predicts that Flipkart Group and Amazon India will account for 36.6% and 30% of this $60 billion market, with GMV of $22 billion and $18 billion, respectively.

Abhishek Maiti, Director of Competitive Intelligence and Consumer Insights at PGA Labs, said: “The holiday sales in 2021 will continue to increase in e-commerce sales.

“Like last year, Flipkart Group accounted for the largest share of 60% of sales, while Amazon was about 30%. This is due to the continued use of mobile devices as a category and innovative user engagement strategies.”