“Festivals encourage magnanimity that manifests into acts of benevolence not just towards immediate family members but also towards extended friends & family as well as society at large”, says Mr. Manish Tiwary, Vice President, Category Management, Amazon India. Hence, the competition among the e-commerce companies deepened.
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The Bangalore-based company said it reached 100-million users in six months after registering 75 million users. Amazon stakes are always higher when compared to Flipkart even after summing its other possessions Jabong and Myntra.
Now with 100 million users, Flipkart’s registered customer base stands at around 63% of entire wireless and wireline broadband connections in India.
Krishnamurthy has already helped Flipkart regain its position in smartphone sales, which accounts for half of its sales.
The Bank of America Merrill Lynch Report released in September 2016 also confirmed Flipkart as the market leader with over 43 per cent market share.
Global e-commerce giant Amazon’s pressure on homegrown Flipkart increased on Thursday, with the former announcing that it’s festive season sale will begin on October 1 and end on October 5, overlapping the latter’s Big Billion Day (BBD) sale for the most part.
Amazon, which pledged to invest a further $3 billion into its India business in June this year, has been steadily growing its market share, at the expense of rivals Snapdeal and Flipkart.
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In 2015, online retailers are estimated to have sold goods worth almost Rs 9,000 crore in October, as shoppers splurge on gadgets, apparel, home furnishings and more. The announcement comes at a time when reports of a declining rate of new online shoppers have emerged. In August, 2016, Flipkart also emerged as India’s most trusted and the most preferred e-commerce platform in a nationwide consumer study titled “E-tailing Leadership Index”, conducted by research firm RedSeer Consulting.
