Festive season sale events bring brisk business to online platforms

All three leaders of Indian ecommerce space viz. Flipkart, Amazon and Snapdeal announced their festive sale season around the same time. And all of them have succeeded in attracting customers while managing to earn thousands of crores in business in the last week alone.

While Flipkart was able to sell goods worth Rs 2,000 crores with major thrust on categories like fashion and mobile phones whose share is expected to rise by five percent by the end of December, Amazon too witnessed a sharp growth in categories like books and apparel. It is also giving away one kg of gold to a few lucky winners who shop on Amazon.

Flipkart has set a target of reaching 10 billion dollars (over Rs 64,000 crores) in gross merchandise value in 2016 and reaching 100 billion dollars by 2020 (Rs six lakh crores). Snapdeal, which started its sale on Monday last week, said that by Thursday, it had shipped five million products and sold Rs 500 crores worth of mobile phones, and saw 3.5 times growth in new users.