next textile machinery exhibition and event in surat, gujarat, india

Technology   >     16-01-2018 - Tuesday

  • Amazon claims 1.5 times faster growth than Flipkart in GST era
  • BENGALURU: Flipkart and Amazon India both said their ecommerce businesses grew sharply in the three months ended September, registering a significant recovery from the months before the government introduced the goods and services tax. 
  • Flipkart said its ecommerce business grew at about 85% year-on-year in terms of gross merchandise volume (GMV) in the April-September quarter that included its flagship festive sales events, up from 65-70% growth in the preceding three months. 
  • Amazon India said it registered 72% year-on-year growth in terms of gross merchandise sold (GMS) for the September quarter, compared with 59% growth in April-June. 
  • Flipkart investor Naspers, however, in a recent report has said the company grew at 43% year-on-year in the six months from April to September, giving ammunition to Amazon India to claim faster growth than its larger domestic rival at 66% for the six-month period. 
  • "(Naspers') report actually refers to the January-June period and... has a lag of three months, so the comparison isn't like-for-like or relevant," said Flipkart chief financial officer Sriram Venkataraman. "Flipkart continues to outpace the industry and our growth accelerated significantly during the July-September quarter on the back of a very strong festive season. We saw growth in mid-80% for (the September quarter) across all categories, with GST having a positive impact," Venkataraman said 
  • An Amazon India executive, however, insisted that the global ecommerce giant's India unit was "growing much faster than the market and grew 1.5 times more than Flipkart" between April and September. 

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