Monday, March 20, 2023
Outlook India
Outlook Business

Amazon India terms Redseer report on festive season speculative

However, the consulting firm defended its findings claiming that it was based on independent research

Amazon India terms Redseer report on festive season speculative
POSTED ON October 07, 2022 12:02 PM

E-commerce player Amazon India on Thursday called the report of Redseer Strategic Consulting on festive season sale numbers as "speculative which lacks transparency". At the same time, the consulting firm defended it as independent research.

The Redseer report showed that the Flipkart Group, including Myntra, Shopsy etc., maintains its leadership position, while Softbank-backed Meesho pipped Amazon to become the second-largest contributor in order volume. Amazon said the first 12 days of the Amazon Great Indian Festival received the highest orders.

"We cannot comment on speculative reports without robust and transparent methodology, especially as these have not been shared with us. We witnessed the highest-ever start to the event in the first 48 hours, with eight times sales as compared to the average business days. This response is reflected across all categories and we have overall seen a substantial increase in visitors vs 2021," Amazon India spokesperson said.

 Reacting to Amazon India's remark, Redseer said that the report is based on "an independent research and analysis" done every year.

"While we make efforts to reach out to all major players about this exercise and encourage them to engage, some of them have not responded while others have. We generally do not share the results with platforms who do not wish to engage or participate in our research or discussions," Redseer said.

Redseer reports estimate that e-commerce firms have registered a 27 per cent growth, clocking sales worth Rs 40,000 crore, during the recently concluded seven-day festive season sale. According to the report, Flipkart Group led the festive sale with around 62 per cent share in gross merchandise value (GMV) followed by Amazon with a GMV of around 26 per cent.

"In terms of order volume, the Flipkart group leads the market with about 49 per cent share and Meesho ranks second with about 21 per cent order share," the report added.

  • Related Articles

    Greenikk has built enablement centers in the major banana producing agricultural belts in Kerala, Tamil Nadu and Karnataka to provide farmers with production and marketing-related support

    Kerala-based agri-biz start-up launches end-to-end supply chain for bananas

    The company has received $65 million in external equity capital from investors including Lightrock, Quona Capital Management, Omnivore Capital and Asia Impact Fund

    Agri Start-up Arya.Ag Expects Fourfold Jump In Revenue This Fiscal

    He joined the tech company in September 2020 as the Director of Global Business Group where he oversaw business strategy and revenue growth for India

    Meta India appoints Arun Srinivas as Director and Head of Ads Business