Indian Amazon rival Flipkart made IR 1,400 Crore (US$210m) in one day this week, doubling the amount it made during a sales day last year.
It is now the biggest ever day for the online retailer to date and represents the growth of ecommerce in India.
This was echoed in an interview in the Times of India with Flipkart's co-founder & CEO Binny Bansal; "This number is far more compared to how much the modern Indian retail industry clocks daily (Rs 1,070 crore), signalling the evolution of e-commerce and its adoption among consumers.”
The figure shows that Flipkart still has an edge over global ecommerce giant Amazon, which has been moving aggressively into the Indian market. However, rivals Amazon and Snapdeals have only released information on units sold during sales days to date.
Bansal also told the paper that it’d spent one third of the marketing budget that its competitors had to promote the sale.
All eyes are on the emerging markets during sales days as they far surpass the hallmark shopping days, such as Cyber or Black Monday in the US and Europe. However, according to the Times of India, Flipkart isn’t quite at the level of its Chinese counterparts. The paper reports that Alibaba racked up $5 billion during the first 90 minutes of the Singles' Day sale last year, taking over Cyber Monday to become the world's largest grossing online shopping day.