Did Flipkart bag 70% of the festive-sales market? Amazon doesn't think so

In a statement on Sunday, Flipkart announced that they were confident that they captured 70% of the festive sales that concluded on September 24. The festive sales this year were supposed to break all previous records and touch an all-time high of Rs 10,000 crore. Anil Kumar, CEO of market researcher Redseer , however, said that the sales this year collected around Rs 8,500 crore.

Nevertheless, this year's festive sale saw a steep jump of 35% from last year.

Kumar also mentioned that it is highly likely that Flipkart saw twice the amount of sale that Amazon saw. Speculations point out that Flipkart's sales this year could amount to Rs 6,000 crore or Rs 1 billion.

Amazon, on the other hand did not agree with the numbers and called the reports "poorly informed and speculative", according to MoneyControl.

None of the firms shared their data on the GMV or gross merchandise value but Amazon did not even share their market shares. They, however, mentioned that this year's has been their biggest sale till date.

Paytm Mall also had its four-day sale during the period, and says that their sale has been a hit among their customers. Along with a surge in their sales, Paytm Mall has claimed that they witnessed a surge of 8-10 times in users everyday in their four-day sale. 

However, all three seem to agree on one thing - that smartphones have been their most sold product this year. According to Business Standard, Amazon claimed that smartphones sale has grown by 2.5 times; while Paytm Mall says that it has grown by 12 times for them. Flipkart also claimed to have sold 1.3 million smartphones in the first 20 hours of their sale. According to them, this is also the highest number of smartphones sold in a day, on platforms across online and offline.

Amazon also claims that their Prime membership continues to grow exponentially, becoming its driving force.

Either way, the gross collection figures come as good news for Indian e-commerce that had hit a point of stagnation in terms of growth.