NEW DELHI: Homegrown online marketplace Flipkart is eyeing sales worth $8 billion (about Rs 50,000 crore) in 2015 in terms of total value of goods sold, more than double of $3 billion clocked last year. Increasing internet penetration and online shopping by youngsters helped the e-commerce firm hit a gross merchandise value (GMV) of $1 billion in March 2014.
MUMBAI: At a time when fashion sales at Flipkart and Myntra have collectively crossed the billion-dollar mark in run rate, Myntra may look to phase out its web presence completely in a strong testimony to the exponential growth of mobile internet in the country. This will be the first such instance of a mainstream online retailer morphing into a mobile-only player as internet usage over smartphones surges in India.
BENGALURU: When Chinese phone maker Xiaomi starts its own portal to sell phones in India, it may adopt the model followed by Amazon and Flipkart to work around the country’s retailing regulations. Xiaomi will likely set up a marketplace platform and bring on board third-party retailers to sell the phones on its portal Mi.com. Xiaomi will supply the sellers so that it doesn’t flout retailing norms, according to sources.
BENGALURU: Online retailer Flipkart, which took quite a few knocks during its big discounted sale day last October, has started preparing for another such event at the end of this year that will be ‘many times bigger’ and is working to improve its ability to anticipate demand, deliver goods faster and eliminate sub-standard and fake products. “The sale emerged as a great learning experience for us and we have already started to implement processes in order to scale up our tech capabilities,” said Sachin Bansal, CEO and co-founder of Flipkart.
Flipkart is reportedly exploring ways to reduce delivery times to as little as three hours. The Indian ecommerce company is working on the logistics and evaluating the kind of products that can be a part of the initiative. It could introduce this service in three to four cities as early as July this year. The customers are, of course, expected to pay extra for the services, but it is a service that could be used in emergencies. Flipkart currently offers same day delivery in 10 cities, for INR 140 (US$2.20) per item.
India’s homegrown ecommerce leader Flipkart just announced another whopping funding round. This time, it raised US$700 million investment from new investors Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates, and Qatar Investment Authority, along with existing investors DST Global, GIC, ICONIQ Capital, and Tiger Global.
Last week, Xiaomi launched its Redmi Note in India. The smartphone will be sold on India’s leading ecommerce platform Flipkart exclusively. In fact, there’s nowhere else you can buy a Xiaomi phone in India. Flipkart is the exclusive sales front for Xiaomi’s entire range of popular, attractively priced phones with cutting edge specs in the country.
Chinese smartphone major, Xiaomi is all set to kick-off another edition of Redmi 1S flash sale in India on 4 November via Flipkart. The company has confirmed that there will be close to 1 lakh Redmi 1S smartphone up for grabs on Tuesday’s flash sale. Xiaomi had an exhausting last week dissipating negative publicity caused by IAF’s advisory to its squadrons and their families to refrain from buying Redmi 1S.
NEW DELHI: China-based mobile Internet browser company UCWeb today said it has partnered with leading e-commerce firms including Amazon, Flipkart, Snapdeal for a 15-day Diwali shopping festival. “The idea is that you can browse and compare the product prices via UC Browser, to find the best available deals from Amazon, Flipkart, Snapdeal, Myntra, Jabong, Homeshop18 and Shopclues,” the company said in a statement.
Ecommerce might be young in India but it’s growing super fast. India’s ecommerce market will reach US$6 billion in consumer spending in 2015, leaping from US$3.5 billion in 2014, according to the latest data from Gartner . This makes it one of the fastest-growing ecommerce markets in Asia/Pacific. The potential for a 70 percent growth rate to be maintained or even accelerated can be seen from the low base from which it is emerging.
The new series of Yoga tablets will feature Intel processors. Lenovo will retail these products exclusively on Flipkart – one of India’s largest e-commerce portals. Among the four new models, only Yoga Tablet 2 (8-inch) will be on sale from tomorrow, the other three will be available for sale only from mid-November. The second generation of Yoga series has one 8-inch, two 10-inch and one 13.29-inch models. One will run on Windows OS, while the other three will feature Android OS at its core.
Home grown popular e-commerce site, Flipkart has reportedly begun sending apology mails to beleaguered consumers over the Monday’s (6 October) Big Billion Day flash sale fiasco. Despite minting huge revenue (close to $100 million/more than ₹600 crores) out of Big Billion Day gala, Flipkart’s much hyped flash sale faced severe criticisms over the poor handling of servers, which were unable to cope high incoming traffic volume leading to outages and sudden cancellation of the purchase.
“Yesterday was a big day for us. And we really wanted it to be a great day for you. But at the end of the day, we know that your experience was less than pleasant. We did not live up to the promises we made and for that we are really and truly sorry.” This apology note from Flipkart co-founders Sachin Bansal and Binny Bansal landed in my inbox tonight, just as it did for thousands of other Flipkart customers.
Indian ecommerce portals Amazon, Flipkart, and Infibeam are taking preorders of the Apple iPhone 6 and iPhone 6 Plus. With a promise of an assured delivery on launch day (October 17), the listings also reveal the price – iPhone 6 starting at INR53,500 and iPhone 6 Plus starting at INR62,500. Users can preorder the iPhones online from today to avoid waiting in the queues to purchase one later (Flipkart , Amazon , Infibeam).
India’s online shoppers will flock to discount sales, but they’re not known for their tolerance. Xiaomi learned this the hard way when it disappointed thousands of Indians who queued up in vain for its Mi 3 priced at an incredible INR 13,999 (US$231). Like spurned lovers, angry fans took to Twitter and Facebook. Most of them had little to complain about the phone but minced no words when it came to Xiaomi’s strategy of selling a limited number of units in a new market.
NEW DELHI: Some mobile phone retailers have threatened to boycott Apple’s much-awaited iPhone 6 and 6 Plus models after their expected pre-Diwali launch because they are miffed that the iPhone 5S is being offered at heavily discounted prices on popular e-commerce sites Amazon, Flipkart and Snapdeal. According to sellers that ET spoke to, some of the 1.5 lakh retailers claimed they have returned their iPhone 5S models, saying they can’t compete with the discounts, which have lowered the price of the device to less than their cost.
NEW DELHI: Competition in the booming multi billion dollar Indian smartphone market is further set to intensify with e-commerce giants Amazon, Flipkart and Snapdeal all set to launch Google’s much-awaited sub-USD 100 (around Rs 6,000) handsets tomorrow. Google is launching the Android One devices in India tomorrow. In June this year, the US-based tech giant had announced the ‘Android One’ initiative to bring in under-USD 100 handsets aimed at bringing the next one billion population to the Android operating system ecosystem.
American technology giant, Motorola officially pulled the wraps off the company’s flagship smartphone Moto G (Gen 2.) in New Delhi. The new Moto G comes with modest upgrade over the predecessor in terms of outlook and some bump in couple of key specifications. Besides the big 5.0-inch display, the second generation device has also under-gone some cosmetic change. The company has placed dual -speakers on the front-side (top and bottom), similar to Moto E.
India’s ecommerce poster-boy Flipkart is shutting down its electronic wallet PayZippy, just over a year after it launched. “While we phase out our own payments product, PayZippy, nothing changes for our customers, who will continue to enjoy all the benefits of a safe and secure payment system through Flipkart,” a Flipkart spokesperson told Tech in Asia. The news was first reported by Medianama . With PayZippy, ecommerce merchants can accept payments from all credit and debit cards as well as use 53 net banking options.
Here’s the answer to India’s who-is-first ecommerce debate: the Flipkart-Myntra combo leads the race with 26 million unique visitors in July 2014. Jabong, with 23.5 million unique visitors, is a surprisingly close second, and Amazon is third with 16.9 million unique visitors, according to a study by the Associated Chambers of Commerce and Industry of India (Assocham) and ComScore. These numbers do not include visitors accessing the sites using mobile internet and mobile apps.