India’s largest online retailer Flipkart is looking to sell goods worth $ 500 million, or Rs 3,250 crore, during the five-day ‘Big Billion Days’ sale, sources privy to the e-tailer’s plans told TOI. This comes at a time when the Bangalore-based e-commerce major has seen its gross merchandize value, or GMV, climb up to Rs 2,600 crore for September after having experienced a tepid growth so far this year, sources said. GMV is the value of goods sold on an online platform without factoring in discounts and returns, which e-commerce firms do not disclose publicly.
TOI has learnt that over the past six months, barring the September spike, Flipkart clocked around Rs 2,000 crore in monthly GMV (excluding Myntra’s sales).
Its rivals Amazon, which is seen to be doubling down on the local market, Snapdeal and Alibaba-backed Paytm are also gunning for big business during the festive season, a crucial period for these heavily funded players to shore up numbers in an overall sluggish year for e-commerce sales growth.