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Flipkart, PhonePe monthly active customers at 'all time high': Walmart

Walmart International CEO Doug McMillon says group committed to high-value markets like India.

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E-commerce firms like Flipkart and Amazon witnessed blockbuster festive season sales in India

Peerzada Abrar Bengaluru
Walmart International, the segment which includes the retail giant’s operations outside the US, on Tuesday reported a 1.3 per cent rise in net sales in the third quarter of 2020, led by e-commerce firm Flipkart, Canada, and Walmex (Walmart de Mexico). 

The Covid-19 pandemic has accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency.

Changes in currency rates negatively affected net sales by approximately $1.1 billion. Excluding the currency factor, net sales were $30.6 billion, an increase of 5 per cent. It said strong growth in net sales at Flipkart was helped by a