Flipkart beats Amazon is all over the news. They make a bold claim of generating 70-80% higher sale than Amazon during the festive season. Binny Bansal was all smiling when he announced this to the media. Binny Bansal says that October sales were 6 times higher than the difference in sales between the two ecommerce giants. Sales boosted in October due to Flipkart concentrating on selling high value products.
In response to this Amazon said that they do not comment on rumours or speculation and refuse to give out any sales figures for October month. Amazon further said “We track customer-focused metrics from reputed and independent third-party industry sources like Similarweb, AppAnnie and ComScore and believe we are leaders in all relevant metrics”.
Talking about this proud moment for Binny Bansal told TOI “The wide lead established by Flipkart proves that a home grown Indian company can successfully fend off a 22-year global behemoth pouring in money to buy market share.”
This is a proud moment for Flipkart. They have almost exhausted their treasures and getting next round of funding has become a challenge. The media including us have published that this Diwali can be a rise or fall for Flipkart. Certainly Flipkart used their new strategy of concentrating on high value products like fashion apparel, large appliances, and smart phones. Flipkart group has crossed $2.5 billion in sales run rate in October and now they have 75% of the online market share in fashion.