It is impossible to talk about eCommerce in India and not mention a name that changed the landscape altogether. Flipkart, established by Sachin Bansal and Binny Bansal in 2007, started as an online bookstore and very soon expanded as a marketplace transforming the manner Indians shopped. Let’s consider Flipkart’s story in closer detail and assess its impact on the Indian eCommerce scene.
Table of Contents
The Beginning of Flipkart
Sachin and Binny Bansal, both ex-Amazonians, recognized the untapped potential of online shopping in India. They began Flipkart with a modest aim—providing books online with customer satisfaction. The early days were challenging, with the founders themselves making deliveries, but their hard work paid off.
Expansion Beyond Books
As Flipkart became popular, the company ventured into several categories such as electronics, fashion, home needs, etc. This step made Flipkart India’s primary online shopping platform, which provided stiff competition to international behemoths like Amazon.
Cash on Delivery: A Game-Changer
One of the most important reasons for Flipkart’s success was its groundbreaking launch of Cash on Delivery (COD). As Indians were wary of paying online, COD became a popular payment option, bringing in millions of new customers who had earlier been wary of online shopping.
Acquisitions and Growth
Flipkart further consolidated its position by buying companies like Myntra and Jabong in apparel, and PhonePe in online payments. Such a strategic acquisition allowed Flipkart to cover the market more widely and dominate more than one sector within eCommerce.
Walmart Investment
In 2018, Walmart acquired a 77% stake in Flipkart for $16 billion, marking one of the biggest deals in the global eCommerce space. This investment boosted Flipkart’s financial strength, allowing it to further expand and compete with Amazon in India.
Challenges and Competition
Despite the fact that Flipkart enjoys great success, the real sad story is the fierce competition with Amazon and Reliance’s JioMart. In addition, the regulatory challenges and altered government policies on foreign investments in eCommerce present a challenge. Yet, Flipkart remains in a race to change and innovate to triumph.
The Future of Flipkart
With increasing focus on AI-driven shopping experiences, grocery delivery, and expanding its reach in smaller towns, Flipkart is shaping the future of online retail in India. The company’s vision is to empower local businesses and sellers while offering customers a seamless shopping experience.
Conclusion
Flipkart’s journey as a startup to becoming a multi-billion-dollar business is truly inspiring. By repeatedly listening to Indian consumers’ needs and tastes, Flipkart has positioned itself well to enhance its leadership position in the Indian eCommerce space. Flipkart’s narrative encourages innovation, determination, and entrepreneurial might.
Also Visit E-commerce Website-DesiMahal to see E-Commerce website
FAQ`s
Is Shopify best for E-Commerce?
It is one of the best platforms for e-commerce, but whether it is the “best” depends on your specific needs and preferences. It has Many benefits like ease of use, Customizable template, Scalability, Built-in E-commerce Tools etc.
Why to Choose Shopify?
Shopify is one of the best platform to create a E-Commerce website as it gives various options like- Built in Templates, Payment options , Marketing tools and many more things that helps a beginner also to make a E-Commerce Store.
Big Brands that Started with Shopify?
There are many brands that use shopify or has started with shopify like– RedBull, Decathlon, DesiMahal, Avon and many more companies that uses Shopify to start or still using it till now.
What are Charges to use Shopify?
Shopify gives various offers as of now it gives first month shopify store at just Rs20 Per month of any plan that you will choose from the plans by the it .
Is Shopify free or Paid?
Shopify is paid but for first month shopify takes only 20rs only for the first month and after that you have to pay the charges as specified by them.