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Monthly active customers at Flipkart, PhonePe at 'all-time high', says Walmart CEO

According to Flipkart, 10 million deliveries were achieved in the first five days of the Big Billion Day sales, while PhonePe saw a record 925 million transactions in October 2020.

November 18, 2020 / 06:48 PM IST

Flipkart and PhonePe are seeing a record number of monthly active customers, Walmart said on November 17 while announcing its September quarter earnings. Indian e-commerce platform Flipkart was also praised for driving the top line growth for Walmart International.

The world's largest retailer further said that Flipkart’s strong performance helped expand Walmart’s gross profit rate and boost the net sales of its international business, reported CNBC-TV18.

A statement released by the company read, "Walmart International net sales were $29.6 billion, an increase of 1.3 percent. Excluding currency, net sales would have been $30.6 billion, an increase of 5 percent led by Flipkart, Canada, and Walmex. Strong growth in net sales at Flipkart was helped by a record number of monthly active customers."

Meanwhile, Walmart chief executive Doug McMillan has said that the number of monthly active customers at Flipkart and PhonePe are at an "all-time high".

Flipkart, which recently concluded its 'Big Billion Days' sale is reportedly seeing a sustained demand for products. According to Flipkart, 10 million (1 crore) deliveries were achieved in the first five days of the bumper sale aligned with the festival season.

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PhonePe, on the other hand, reportedly saw more than 100 million monthly active users from its 250 million registered userbase. A record 925 million transactions were recorded by the platform in October 2020.

Notably, India has been named among Walmart's priority markets for international business.



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Moneycontrol News
first published: Nov 17, 2020 10:21 pm
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