As per a financial report from Flipkart investor Naspers, the ecommerce firm has reported a growth of 43% in gross merchandise value (GMV) for the six months ended 30 September. The half yearly report by Naspers stated that Flipkart has seen a jump in its market share from the year-ago period.
Naspers’ latest growth and market-share numbers on Indian ecommerce are based on Flipkart’s estimates. However Naspers did not disclose Flipkart’s GMV.
As per the report, the Indian ecomerce firm further strengthened its position at the top during the recently-concluded festive season sale. Naspers said, “Flipkart, the group’s equity-accounted investment in India, continued its growth acceleration and further solidified its market leadership. During the recent festive season sales period, Flipkart captured around 70% of the total e-commerce market. Flipkart has also secured substantial capital from investors—including Tencent and SoftBank—to continue building its position as a leading business-to-consumer (B2C) platform in the fast-growing Indian market.”
According to the latest filing from Naspers, the South African conglomerate currently holds a 14% stake in Flipkart.
Flipkart , Amazon And The Growth In Ecommerce
The latest report from Naspers is an indication that India’s largest ecommerce firm is standing its ground against Amazon India after a tough 18 months during wherein it had lost market share. However Amazon India (Amazon Seller Services Pvt Ltd) has repeatedly disputed the claim that it trails behind Flipkart and has stated that its way of calculating gross sales could be different from that used by Flipkart.
In the first two quarters ended 30 June, Amazon has said that its unit sales grew by 85% and 88%, respectively, over the comparable period in 2016.