Between Oct. 01 and Oct. 06, Flipkart, Amazon, and Snapdeal—the top three players in India’s $23-billion online retail market—hosted their annual festive season sales.
And here’s the kicker:
Flipkart, Amazon, and Snapdeal together sold 41.5 million items during their five-day sales. Assuming that each of these items was bought by a different buyer (highly unlikely), only around 10% of India’s 402 million internet users participated in the events.
A huge market, still very much characterized by non-consumption.
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