E-commerce Companies Sold Goods Worth About Rs 29,000 Crore

E-commerce companies sold goods worth about Rs 29,000 crore in the first week of the festive sale, best-selling smartphone. E-commerce companies are doing a lot of business in their festive season sale.

E-commerce companies have sold products worth $ 4.1 billion (about Rs 29,000 crore) in the festive season sale from October 15 to 21. This is 55 percent more than last year.

A year ago, e-commerce companies sold products worth $ 2.7 billion in the first week of their festive season sale. This information was given on Tuesday by RedSeer, the market data gathering company.

According to Redseer’s report, e-commerce companies have sold the most number of smartphones in the first week of their festive season sale.

Smartphones accounted for 47 percent of the total festive season sale of companies. The main reason for this is the introduction of more new models and cheaper smartphones.

According to the report, on various e-commerce platforms including Amazon, Flipkart, Snapdeal, etc., in the first week of the festive season sale, smartphones worth about Rs 1.5 crore have been sold every minute.

The report states that the total share of Amazon and Flipkart in this festive sale is 90 percent. Walmart-owned Flipkart has more stake than Amazon. Flipkart held 68 percent of the total sales of both e-commerce companies.

Mrigank Gutagutia, director of Redseer Consulting, said, “E-commerce companies have sold more than our earlier estimates in the first week of the festive season sale. This shows an improvement in the buying perception of customers in India. ‘

Analyzing customers, Tier-2 cities accounted for more during the sale. Tier-2 cities have received more customers than expected. According to the report, the number of customers shopping at the festive sale reached 5.2 million this year.

This is 85 percent more than the 2.8 million last year. Out of this, around 55 percent customers are from Tier 2 cities.

Due to the weak global trend, the stock market opened today on Wednesday, the third trading day of the week, on a slight decline.

The Bombay Stock Exchange’s flagship index Sensex shed 49.58 points to open at 40472.52. At the same time, the National Stock Exchange Nifty lost 14.60 points to open at 11874.80.