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Thursday, 29 November 2018

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Amazon left Flipkart behind in the current fiscal year

Amazon left Flipkart behind in the current fiscal year




The online retailer Amazon left behind Flipkart ($ 6.2 billion (Rs 4376 crore) in gross merchandise value (GMV) with a sales of $ 7.5 billion (about Rs 5,082 crore) in fiscal year ended March 2018. This has been said in a report released by Barclays.

The report, released on November 26, said, "In the financial year 2017, Amazon and Flipkart were at par with the match. Now with Flipkart's $ 6.2 billion GMV Amazon has made a clean edge with $ 7.5 billion.

However, the report also states that Flipkart is still ahead of Amazon in terms of revenues ($ 3.8 billion versus 3.2 billion dollars), but Amazon's speed is high. Significantly, Amazon's american rival Walmart bought 77 percent stake in Flipkart this year.

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