Flipkart, Amazon could generate up to $6 billion or Rs 39,000 crore in sales this festive season: Redseer

New Delhi: E-commerce companies such as Flipkart and Amazon could generate up to $6 billion or Rs 39,000 crore in sales this festive season, according to consulting firm RedSeer. In the first phase of the festive sale, E-commerce companies are estimated to have registered sales of close to $3 billion or Rs 19,000 crore, up 30 percent from last year. This is about 80 percent of RedSeer's forecast of $3.7 billion sales in the first phase of festive sale this year.

The first wave of the festive sale event has seen a record gross merchandise value (GMV) of almost $3 billion despite challenging macroeconomic environment, indicating that consumer sentiment on online shopping remains bullish, RedSeer Consulting founder and CEO Anil Kumar said.

"The larger push has come from Bharat customers migrating to online shopping driven by the strong value provided from the online retailers across categories including mobiles, which have shown a strong surge during sale event despite having a relatively slow-growing H1 (first half of) 2019," he added.