Flipkart, Myntra grab big share of GMV in first week of festive sales

E-commerce firms such as Walmart-owned Flipkart and Amazon have sold goods worth nearly $4.1 billion ( ₹29,000 crore) in the first week of festive season sales, compared to $2.7 billion in 2019, according to data from Redseer Consulting.

Smartphones continued to be the biggest category, accounting for 47% of the overall gross merchandise value (GMV), followed by electronics and home appliances, as demand for work-from-home products surged, said the market research and advisory firm.

In the first week of festive sales, Flipkart Group, which includes fashion marketplace Myntra, took the lead, accounting for almost 68% of the overall GMV, Redseer data showed. Typically, Flipkart Group and Amazon together make up 90% of GMV during festive sales. The remaining 10% is taken up by players including Snapdeal, Paytm Mall and others.