Annualised GMV for e-commerce companies in India fell 5-10 per cent in the second quarter of 2016 to USD 13 billion, impacted by fewer discounts by players like Flipkart and Snapdeal, research firm RedSeer said today.
“While there was a strong growth pattern in calendar year 2015, the annualised gross merchandise value (GMV) run rate for the Indian e-tailing industry dropped sharply in size in both quarters of 2016 till date,” RedSeer Consulting Founder and CEO Anil Kumar told reporters here. Gross Merchandise Value or GMV refers to the total sales made through an e-commerce platform. The quarterly/monthly GMV figure is projected for the full year to arrive at the annualised GMV run rate. He added that the run rate has fallen from USD 17 billion in the last quarter of 2015 to USD 14 billion in January-March 2016 and further down to USD 13 billion in the consecutive quarter.