BENGALURU: SoftBank-backed Meesho has become the second-largest player among the e-commerce platforms, overtaking Amazon in terms of order volume during the first week of the festive season.
Meesho, the internet commerce platform, has captured close to 21% of the market. Walmart-backed Flipkart group led the market with 49% share, according to consulting firm Redseer.
In the case of gross merchandise value (GMV) or total value of items sold, Flipkart leads with 62%, followed by Amazon 26%. Meanwhile, Amazon in a statement said they can’t comment on speculative reports without robust and transparent methodology.
“We witnessed the highest-ever start to the event in the first 48 hours, with 8X 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 spokesperson said.
The spokesperson added that the company’s seller community received significantly more orders compared to last year. According to a Redseer report, the online retail platforms have seen 27% YoY growth, clocking a sale of Rs 40,000 crore ($5.7 billion).