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E-commerce flexes its muscles - Flipkart, Snapdeal sell Rs 600-cr products each on Oct 8, 2014

In one of the biggest sales days in Indian online retail market,Flipkart and Snapdeal on Monday sold products worth an estimated Rs 600 crore each even as customers complained about technical glitches, while global e-retailer Amazon continued its own pre-Diwali campaign.
Flipkart claimed it sold products worth $100 million (over Rs 600 crore) within 10 hours, while Snapdeal pegged its sales at Rs 1 crore a minute-which translates into a figure similar to Filpkart's. There was no sales figures from Amazon which is running a three-day discount campaign.
"We got a billion hits on our site today and achieved our 24 hour sales target of USD 100 million in GMV (gross merchandise value) in just 10 hours," Flipkart co-founders Sachin Bansal and Binny Bansal said in a joint statement.
Sale on Flipkart started at 8 am and most of the products under scheme were sold by afternoon.
"The Big Billion Day is an unprecedented day for us as this is the biggest sale ever in India. With a range of exciting offers on quality products at disruptive prices available throughout the sale period, we have created history in Indian e-commerce," the joint statement said.
"Snapdeal had a record breaking day of sales on October 6, 2014. We witnessed sales of over a crore rupees a minute, with lakhs of products being sold in a single day," its Co-founder and CEO Kunal Bahl said.
http://businesstoday.intoday.in/story/flipkart-snapdeal--amazon-products-each-in-a-day/1/211126.html

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