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Tough 2020 awaits Amazon, Flipkart as Reliance firms up plans
TIWN
Tough 2020 awaits Amazon, Flipkart as Reliance firms up plans
PHOTO : TIWN

New Delhi, Dec 29 (TIWN) With more and more Indians taking the online route to fulfill their shopping needs, e-tailers like Amazon and Flipkart are witnessing high demands, including from far-flung and remote areas, but overall slowdown and negative sentiments - coupled with the new ecommerce policy and the likely entry of Reliance into the ecommerce space soon -- may spoil the 2020 party for the market leaders, say industry experts.

The later part of 2019 was not all that bad for Amazon and Flipkart as festive sales brought in record revenue for both the companies.

Online retailers in India recorded $3 billion (Rs 19,000 crore) worth Gross Merchandise Value (GMV) sales between September 29 and October 4, according to Bengaluru-based market research firm RedSeer Consulting. Flipkart and Amazon's combined sales held 90 per cent of the market share.

A report by Forrester Research also predicted e-retailer sales to hit nearly $4.8 billion during the overall festive season.

Walmart-owned Flipkart claims it has over 60 per cent market share in the Indian ecommerce market while Amazon is believed to have about 30 per cent market share.

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