Ease of Doing Business for MSMEs: Every year Amazon and Walmart’s Flipkart lead e-commerce sales during the festive season through their flagships events for customers to offer heavy discounts on products across categories.

Ease of Doing Business for MSMEs: Amazon India, which has around 8.5 lakh sellers on its marketplace, on Sunday said nearly 30,000 sellers became ‘lakhpatis’ during the nearly month-long Great Indian Festival sale that began on October 3 for all customers. Moreover, Amazon said under its Local Shops on Amazon programme, wherein a physical store, retail store or a kirana store owner can sell to local customers through Amazon, 330 such sellers turned ‘lakhpatis’ while 12 of them became ‘crorepatis’. The company said Local-Shops-on-Amazon sellers clocked a 2X spike in goods sold from last year. Every year Amazon and Walmart’s Flipkart lead e-commerce sales during the festive season through their flagships events for customers to offer heavy discounts on products across categories.

“We are truly humbled to see how this festive season has brought joy to lakhs of sellers on Amazon.in with many becoming lakhpatis and crorepatis. We also witnessed great participation from over 360K MSME buyers on Amazon Business this festive season,” said Manish Tiwary, Vice President, Amazon India in a statement.

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For its B2B online wholesale market Amazon Business, the company said 55 per cent of orders came from Tier-II and Tier-III markets while over 46 per cent increase was recorded in new MSMEs who created a business account with Amazon Business during the sale vis-a-vis 2020. Over 15,000 products were bought by business customers from specially curated stores like Corporate Gifting, Work From Home, Back to Work stores.

Importantly, as per the data — based on sales by e-commerce marketplaces from October 2 to October 10 — compiled by the management consultancy firm RedSeer in its e-commerce festive sales report, Flipkart Group was declared ‘leader’ with a 64 per cent GMV share followed by Amazon’s 28 per cent, and 8 per cent by other platforms. The 23 per cent GMV growth this year was led by key themes including a resurgence in fashion sales while the mobile category dominated with 46 per cent GMV share. Purchases from Tier-II cities dominated the sale with around 61 per cent of shoppers followed by around 22 per cent from metros, and around 17 per cent from Tier-I cities.

https://www.financialexpress.com/industry/sme/msme-eodb-amazon-india-30000-sellers-became-lakhpatis-during-month-long-great-indian-festival-sale/2360609/