E-commerce giant Flipkart Group has achieved a current annualised gross merchandise value run rate of $23 billion (Rs 153 lakh crore), representing over 50% year-on-year growth for the business.
Flipkart’s GMV run rate, which refers to the total value of sales on a platform, including any discounts offered, has grown by around 50% year-on-year, sources close to the matter told ET Tech. The business has managed to achieve this growth while working around evolving Covid-19 regulations and while facing government investigations into its business practices this year.
“This is much higher than previous years where Flipkart has spoken of around 30% growth and current estimates are higher,” partner at management consulting firm Kearney, Arpit Mathur, told the Economic Times about Flipkart Group’s performance. “Covid-led acceleration is there as well, but it would still be a breakout year to clock 40-50% annual GMV growth.”
Flipkart’s growth in the 2022 financial year is expected to continue as the trend of increased online shopping, especially by shoppers in rural areas, is showing no signs of abating. Expecting high sales volumes during its upcoming festive Big Billion Days sale, the business has bolstered its logistics capacity, especially around Haryana.
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