Flipkart online shopping website trends in india
Flipkart went live in 2007 with the objective of making books easily available to anyone who had internet access. Today, we’re present across various categories including movies, music, games, mobiles, cameras, computers, healthcare and personal products, home appliances and electronics, stationery, perfumes, toys, apparels, shoes – and still counting!
Be it our path-breaking services like Cash on Delivery, a 30-day replacement policy, EMI options, free shipping – and of course the great prices that we offer, everything we do revolves around our obsession with providing our customers a memorable online shopping experience. Then there’s our dedicated Flipkart delivery partners who work round the clock to personally make sure the packages reach on time.
From a start-up with an investment of just four lakhs rupees, Flipkart has grown into a $100 million-revenue online retail giant in just five years. Positive word-of-mouth gives Flipkart an edge on the customer side of the business. Backstage, the story’s no different. Their recent acquisition of Letsbuy.com will result in a faster expansion rate. Binny’s long-term outlook includes scaling up the firm’s self-delivery network, and alliancing with like-minded businesses. Innovation is just one aspect of the business universe. Today, the premise of any business, traditional or modern, rests on its ability to harness data, which prompts the question, how does Flipkart utilise its data to generate consumer insights? Since the industry is still in infancy, there is no history one can to refer to. Gathering and analysing data, hence, becomes crucial for planning the business’s future course of action. This practice, in a way, adds to the ‘surprise and delight’ factor for customers, because they’re then treated to offers that are most suited and relevant to their preferences. In this industry, the scope for growth is immense, as is the risk of failure. Consulting firm Technopak Advisors estimates India’s digital economy at $600 million currently, with the potential to balloon to $70 billion by 2020. K. Vaitheeswaran, e-commerce veteran, and Founder and CEO, Indiaplaza.com, one of India’s earliest, compares the vertical to a hard-fought marathon. There’s still no formula for 100 per cent success. Flipkart is running the marathon with ample support from private equity players such as Accel Partners and Tiger Global, which have collectively invested $150 million in the entity so far. Although profits after tax remain negative, the company’s valuation is soaring thanks to eager participation of these private equity players. The acquisition of Letsbuy.com signals FlipKart’s ambitions to capture the domestic online market.