The festive season is off to a good start with Big Billion Days in India, said Doug McMillon, president and chief executive officer of Walmart as festivities begin in the US.
While Flipkart or rival Amazon did not disclose the gross merchandise value (GMV) of goods sold during this year's festive season, according to research and consultancy firm Redseer, Flipkart overshadowed Amazon by grabbing a larger market share in a record $8.3 billion festive sales.
During the third quarter earnings call of financial year 2022, the company also said that the quarter was strong for Flipkart in terms of sales and favourable trends in monthly active users.
The e-tailer which was acquired by Walmart in 2018 has also doubled its fulfillment capacity from last year.
"We continue to see strong growth in e-commerce. On a two year stack sales increased by 91% led by Flipkart and China," McMillon said.
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