Amazon’s India marketplace has beaten out local marketplace Flipkart in gross sales for the first time based on a new report out of Barclays.
In the year ending March 2018 Amazon nudged ahead of Flipkart’s $6.2 billion in sales with a record $7.2 billion.
This news is sure to interest international ecommerce and Amazon sellers who have been watching closely to see if the Indian ecommerce market will live up to big predictions tipping it as one of the emerging battlegrounds for cross-border trade, with a whopping 200 million online shoppers predicted to be active by 2020, more than double the 90 million reported in 2017.
Walmart recently bought a majority stake in Flipkart in May, when it was still considered the leading online marketplace in India. This latest defeat at the hands of Amazon reflects their ongoing battle in the US where Walmart has been struggling to gain a larger share of the 500 billion dollar ecommerce market from their more dominant marketplace rival.