Thursday , June 24 2021

Amazon has taken Flipkart with a $ 7.5 billion GMV

BENGALURU: On-line retailer Amazon has taken Flipkart with 7.5 billion dollars of gross value (GMV), compared with $ 6.2 billion on an independent basis in the financial year that ended March 31, 2018, according to a Barclays report. However, when the Myntra and Jabong modules are included, Flipkart is flush with Amazon India.

"While Amazon and Flipkart (formerly Myntra and Jabong) were at the door and door in terms of GMV in FY17, Amazon had a clear advantage in the FG18 with a GMV of 7.5 billion dollars compared to $ 6.2 billion for Flipkart on an independent basis, "it says in a report published on November 26th.

But the report also adds that in terms of revenue, Flipkart is still ahead of Amazon, although the company is growing much faster. American rival Walmart, a US rival who bought 77% in Flipkart earlier this year, pays $ 16 billion and is worth $ 22 billion.

"Flipkart continues to be larger than Amazon's revenue revenue (3.8 billion and $ 3.2 billion), although Amazon quickly arrives and continues to grow much faster (82% to 47%)," the report said. analysts of Barclays Ross Sandler, Deepak Mathivanan and Karen Short.

A spokesman for Amazon India said: "We do not offer comment on industry reports." Flipkart spokeswoman also did not offer a direct commentary on the report saying: "Flipkart remains an uneven leader … caught a 70% disproportionate traffic in a five-day TBBD Big billions of days) this year, as independent researchers pointed out."

Amazon chart

The report comes when Flipkart saw the highest level earlier this month, with the departure of Binny Bansal's general manager after Walmart called "personal bad behavior" and "lack of transparency". The report added that both companies are aggressively investing in the growth of the Indian retail market. "Investments are growing rapidly at Amazon (India accounts for ~ 7% of international retail operations on the calendar in 2018), and the operational losses of Flipkart can range from ~ $ 1.5 billion for the year that ends in January 2020," adds se.

Amazon has invested slightly more than a billion dollars into its main Indian unit, Amazon sales services, to this year. Infusion was about 7,250 crore in this unit in three tranches in 2018. Amazon's total infusion in the market now stands at close to 25,090 crore or over $ 3.6 billion.

Barclays also said it expects India's online retail business to reach 40 to 45 billion dollars by the end of 2020. "With the increase in Internet penetration, payment options and delivery infrastructure, e-commerce users are expected to be more than doubled from 80-90 million in 2017 to 180-200 million in 2020, and it is expected that the market will increase from $ 18-20 billion in 2017 to $ 40 to $ 45 billion in 2020, and clothing and consumer electronics will lead to the highest growth, "the report said.

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