Amazon India aims to lead in 2017 on GMV markup
New Delhi - Amazon the leading Amercian eCommerce giant is aimiming to lead Indian market in year 2017 if its focuses on gross sales merchandise(GMV). According to analyst in 12-18 months of span Amazon may be lead in case if Flipkart and Snapdeal aims to profitability against the GMV
The strategy that these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017 or not, according to an executive at one of the analyst firms.
According to the report published by Bank of America -Merrill Lynch (BAML) in May 2015 had placed Flipkart on top of the table with 43% market share, followed by Snapdeal at 30% and Amazon India at 18%. One year later, things have moved, pointed out analysts without giving any specific figures. Market share is typically based on GMV in the absence of timely revenue figures, which are posted to Registrar of Companies (RoC) with a significant time lag making them almost irrelevant, explained industry trackers.
2015 Amazon India reports
According to 2015 industry report based on GMV flipkart topped the list with $10 billion, snapdeal $4 bilion and Amazon India at $2 billion. Accodring to one of the analysts, business-standard spoke to, projected the 2017 GMV at $12 billion for Flipkart, $9 billion for Snapdeal and $6.3 billion for Amazon India. However, it added that the math could favor Amazon could cross Snapdeal’s GMV while moving closer to Flipkart or even overtaking it, depending on how the three players choose the GMV versus profitability play.
In the month of October 2015, comScore reports that Amazon India had more than 30 million visitors—a nearly 38% increase in traffic from a month earlier—making Amazon the top e-commerce site in India during the busy Diwali shopping season.
“This is a huge milestone, and we're all raising a glass to toast our colleagues in India,” said Jeff Bezos, founder and CEO of Amazon.com. “Customer response like this is so energizing for us, and we're grateful. Customers and sellers can count on us to continue innovating and investing heavily in India – it’s very much still Day One at Amazon.in.”
App download- On top of the comScore report, the app analytics firm App Annie reported that Amazon.in app downloads grew by over 200% year-over-year in October.