India's commerce space today mainly dominated by 2 players - FLIPKART & AMAZON. Flipkart is mainly known as the fashion leader in today's e-commerce. Flipkart
Commands more than two-thirds of India's fast growing online fashion market.
Let us know more about Flipkart growth in more details :-
• How did Flipkart Buildup and Grow.
√ Almost 14 years ago, for a nation like india, building an E-commerce company was indeed a tough task for Flipkart.
¶ FOUNDERS
The Bansals - "SACHIN & BINNY" BANSAL founders of FLIPKART were confident on one thing, that india was ready for e-commerce.
¶ OPPORTUNITY
The country's highly fragmented retail sector, mostly ruled by local stores with poor services were the major problem identified by Bansals which had potential to get converted into opportunities for building up a new business in 2007
¶ MARKET NEED
Flipkart found the right gaps in the market and offered relevant products & services that fitted those areas perfectly. Flipkart also found that only few indians using credit cards, so Flipkart pioneered cash on delivery. Two of it's strongest ethos of customer-friendliness and genuineness of it's products helps Flipkart to grow in the Indian e-commerce sector.
¶ THIRD-PARTY & DIFFERENT CATEGORIES
Flipkart added third-party sellers and set up its own logistics company EKART IN 2009, with warehousing & personnel delivery. By 2011, Flipkart sales had reached $100 M and very soon Flipkart has seen in different categories like - Sports equipment, electronics , home appliances, baby goods and more.
¶ ACQUISITION
Amazon launched it's indian website on 5th June 2013, with third-party market place model instead of selling directly. This forced Flipkart to accquire the online clothing retailer MYNTRA in 2014, followed by JOBONG IN 2016. This deal further strengthened it's no.1 position in the fashion & lifestyle category with an estimated market share of 60-70%. Flipkart biggest being in October 2016, when they introduce "Big sale" , resulting in it's burn rate at it's highest two years ago.
¶ WALMART
Flipkart plans to save $150-200 M by dec 2017, and also in talks with WALMART stores for investment of $ 1b. Flipkart has also started monetising EKART and offers warehousing solutions and end to end logistics and supply chain capabilities to other clients.
¶ FURTHER GROWTH & DEVELOPMENT
Flipkart took different initiative under "FLIPKART ASSURED" stringest quality checks were provided. There were exclusive partnerships, exchange programme on smartphones, and sales of it's own brands or products. To differentiate itself, Flipkart has given a new, variant and glamorous look to it's fashion section. Data derived from extensive research suggests that customersare mainly influence by Celebrities, Bollywood, Hollywood, friends and other influencial Brands.
Thus, Flipkart tied up with such Brands, Celebrities, TV Channels and Bollywood movies and has completely increased it's fashion section line with customers liking.
Source - Research & Internet
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