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Gone are the days when the aspirations of Indian women were confined to the boundaries of their homes. Today, these empowered women are breaking free from societal norms and embracing the world of entrepreneurship with open arms. This journey towards gender parity and economic independence, has been a gradual one but filled with inspiring stories. In the vibrant tapestry of India’s economic growth, women-led businesses have emerged as a dynamic force that is driving progress. Their contribution to the entrepreneurial ecosystem is not just a matter of statistics, but a testament to the resilience and determination of these women. And while it's true that they have been instrumental in building the strength of our economy, one must understand that this road to success has not been without its set of trials. <cmsannotation type="cmsannotation" annotationid="Women entrepreneurship in India: The evolving landscape" comment="subhead" text="Women entrepreneurship in India: The evolving landscape">Women entrepreneurship in India: The evolving landscape</cmsannotation> Despite the rising interest in entrepreneurship among women, various challenges hinder their entry into this space. Factors such as family restrictions, limited time flexibility, lack of professional connections and inadequate access to reliable advisors ensure that the number of women actively engaged in entrepreneurship is smaller than its potential, leaving resources untapped. Amidst these obstacles that <keyword id="74945" type="General" weightage="20" keywordseo="women-entrepreneurs" source="Orion">women entrepreneurs</keyword> face, <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> has emerged as a beacon of hope and transformation – a homegrown marketplace platform that has revolutionised women entrepreneurship. By defying conventional norms, Flipkart has shattered the myth that women cannot effectively manage both their professional and personal responsibilities. This paradigm shift has not only paved the way for dismantling societal biases but has also provided a powerful platform for women to realise their dreams. <cmsannotation type="cmsannotation" annotationid="Redefining possibilities: Women entrepreneurs thrive with Flipkart" comment="subhead" text="Redefining possibilities: Women entrepreneurs thrive with Flipkart">Redefining possibilities: Women entrepreneurs thrive with Flipkart</cmsannotation> Flipkart is serving as a catalyst for women in India to challenge traditional societal norms and boost the economy through better labour participation and expansion across sectors. Take for instance <a href="https://stories.flipkart.com/sellfmade-flipkart-seller-momtrepreneur/">Yogita Jain's</a> journey. As a buyer on Flipkart who loved her shopping experience, she was always curious about how the journey as a seller on the platform would be. And she transitioned from being a buyer to becoming a successful seller on the platform with her brand, AADISALES. Born out of curiosity, it now stands testament to her entrepreneurial spirit. In just three months, Yogita transformed into a flourishing ‘mompreneur’, overseeing a team of six skilled professionals who handle essential business functions like accounting, packing, and loading. She says, "The support I received through Flipkart was truly remarkable." Flipkart’s positive impact also extends to promoting sustainability by empowering businesses with a focus on creating a cleaner future. One such business is <a href="https://stories.flipkart.com/stonesoup-flipkart-samarth-partner-sustainability/">Smita Kulkarni’s</a> StoneSoup. After spending ten years in the IT industry, the computer science engineer wanted to tackle the problems of waste segregation and garbage reduction. And she found her calling in promoting sustainability through her venture that offers eco-friendly solutions to millions of customers across India. Leveraging Flipkart’s access to over 450 million customers, her business is able to sell their products, including compost kits, menstrual cups, and cloth sanitary pads, all across the country. Moreover, her commitment to social empowerment led her to employ women from self-help groups and those with disabilities, providing them with means to achieve financial independence. Through Flipkart’s platform, this Bengaluru-based business has helped uplift the lives of over 100 women. Another area where Flipkart has made a significant difference is in addressing financial and marketing related challenges for women entrepreneurs. The platform facilitates easy access to loans — a major obstacle for many women in starting their businesses. For <a href="https://stories.flipkart.com/flipkart-seller-small-business-charu-gupta/">Charu Gupta</a>, this became a life-changing factor. Faced with sudden financial difficulties at home, Charu needed additional income. From kick starting her business, Saikara Collections, with only ₹5,000 to generating a revenue of ₹5 crore through her association with Flipkart, her journey is one of courage and determination. “There were many e-commerce platforms,” Charu recollects, “but Flipkart’s onboarding process was the easiest.” Securing term loans through the support of Flipkart’s Account Managers during the pandemic, she kept her business afloat. Overcoming financial hurdles and building her business through challenges with a team that comprises 50% women staff, Charu’s story epitomises the spirit of a modern Indian woman – resilient, determined and unyielding. <cmsannotation type="cmsannotation" annotationid="Driving positive change" comment="subhead" text="Driving positive change">Driving positive change</cmsannotation> The ripple effect of Flipkart’s initiatives extend beyond individual success stories. By empowering women entrepreneurs, Flipkart is playing a pivotal role in fostering financial independence, diminishing gender barriers and boosting labour force participation. This wave of change, facilitated by such e-commerce platforms is a growing example of the potential of women entrepreneurship and the impact it can have on the society and our economy by extension. As women continue to challenge traditional norms and embrace entrepreneurship, they are propelling the nation towards progress, equity and inclusivity. These stories of change are not just about breaking the glass ceiling but leaving behind a trail of inspiration for the next generation. Flipkart’s commitment to empowering women entrepreneurs has not just transformed individual lives but is reshaping the society, one story at a time. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Inspiring Stories of Women Entrepreneurs on Flipkart's Platform

<ul><li>Flipkart got 70 billion views in six days. </li><li>More than 50% of Flipkart Plus shoppers came in from Tier-2 cities and beyond. </li><li>Over 20 models from various mobile brands sold over 100,000 units each during the sale.</li></ul> Walmart-owned Flipkart has wrapped up its annual Big Billion Days (BBD) Sale with 70 billion views in six days. The e-commerce giant also saw a 50% hike in the number of transacting consumers as compared to the last BBD. Interestingly, more than 50% of Flipkart Plus shoppers came in from Tier-2 cities and beyond. The company also said that the biggest hit for the sale season was the mobile segment. According to the company the total number of mobile phones doubled compared to last year's sale. “More than 20 models sold over 100K units each during TBBD’19, which is a first for any event,” said the company. 10 TVs were sold per second in the first hour of TBBD‘19. One in every 10 orders came from far flung cities. And Flipkart also managed to set a few records including a delivery to a village called Tezu in Arunachal Pradesh, 100 kms from Myanmar China border, in just 3 days. “Whether it is the uptake of the Hindi interface or the adoption of our affordability constructs, engagement constructs like gaming, consumers have engaged with brands they love like never before. We take immense pride in making e-commerce more inclusive through the introduction of some top categories which during this festive season, have been able to cater to the needs of Tier-2 markets and beyond,” Kalyan Krishnamurthy, CEO of Flipkart Group said in a statement,

Flipkart wraps up Big Billion Days, 10 TVs were sold per second in the first hour of the sale

<ul><li>A Redseer report says that e-commerce companies have hit a gross merchandise value or GMV of $1.8 billion in the first 3 days of their festive sales. </li><li>The Big Billion Days, Great Indian Festival sale, Snap-Diwali and others provide multiple offers and deals to consumers. </li><li>The e-commerce sector will now meet 80-100% of the forecasted target of $3.7 billion GMV from the sale time alone. </li></ul>It’s truly a festive season for Indian e-commerce players. A Redseer report says that e-retailers hit a gross merchandise value or GMV of $1.8 in the first 3 days of their sales. From Flipkart to Amazon to Snapdeal, every Indian e-commerce player is currently hosting their annual sales. The Big Billion Days, Great Indian Festival sale, Snap-Diwali and others provide multiple offers and deals across products to consumers. Redseer report further says that the e-commerce sector will meet 80-100% of the forecasted target of $3.7 billion GMV from their sales alone. “The first three days have been a strong success for e-tailers despite challenging macro environment, indicating that consumer sentiment on online shopping remains bullish. We expect the industry to continue to do well in the remaining days of the sales event and achieve 80-100% of the RedSeer forecasted numbers for the whole 6-day event,” said Anil Kumar, Founder and CEO, RedSeer Consulting. The mobile segment has led the sales, with 55% GMV coming from smartphones. Amazon said that OnePlus, Samsung and Apple crossed ₹750 crore in sales within 36 hours of the sale. In fact, OnePlus clocked in a record ₹500 crore revenue on the second day of Amazon Great Indian Festival. “We’re honoured by the overwhelming response received as this stands testament to the highest level of customer satisfaction and the strong trust in our brand. India is one of our most important markets and we will strive to ensure an unparalleled, superior experience for our users,”said Vikas Agarwal, General Manager, OnePlus India. This is gloom of an economic slowdown which has impacted the <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-sales-beat-slowdown-blues-to-lift-consumer-sentiment/articleshow/71384852.cms">consumer sentiment</a>. But the online sales seem to have altered it. Both Flipkart and Amazon managed to open up new markets as well. As much as 91% of Amazon’s new customers came from Tier 2 and 3 towns.Flipkart said that its number of transacting customers from Tier 2 and beyond doubled over last year’s sale on the first day.

Amazon, Flipkart, Snapdeal and others clock in $1.8 bn in revenue within 3 days of festive sales

<ul><li><keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword> International CEO said that the US-based retailer is confident that <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> will turn profitable.</li><li>She mentioned that the company has managed to live up to its expectations so far.</li><li>Flipkart is also thinking of ways they can offer software-as--a-service (SaaS), she noted.</li></ul>Walmart International CEO and President Judith McKenna on Wednesday said that the US-based retailer is confident that Flipkart will turn profitable and the company has managed to live up to its expectations so far. She also mentioned that India is Walmart’s biggest market in terms of advertising revenue and the company is looking at leveraging its advertising technology in other markets. Flipkart is also thinking of ways they can offer software-as-a-service (SaaS), she noted, as the e-commerce giant explores new avenues of revenue. “In fact, one of the markets that we are using them [Flipkart] for is Chile. They're building out our ad tech platform for Chile, which is a really interesting development for them,” she said. Walmart acquired Flipkart — the Indian counterpart to e-commerce giant Amazon — in 2018 from founders Sachin and Binny Bansal. The US-based retailer made the acquisition at a valuation of $16 billion, which has now more than doubled to <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$37.6 billion</a>. <cmsannotation type="cmsannotation" annotationid="Flipkart looking to go public with an IPO in the US" comment="subhead" text="Flipkart looking to go public with an IPO in the US">Flipkart looking to go public with an IPO in the US</cmsannotation> Flipkart is now looking to go for an initial public offering (IPO) in the USA. According to media reports, the company expects to make its public debut next year <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">at a valuation of $70 billion</a>. McKenna confirmed this, but refrained from committing to a timeline for the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword>, saying it will make a stock market debut “when the time is right for it”. “And when the time is right will depend on a number of factors, not least the market, but also the business performance. They've hit our deadlines. We wouldn't have invested if we didn't believe they could become profitable in the longer term, and we continue on track for that,” McKenna was quoted as saying in the Baird 2022 Global Consumer, Technology &amp; Services Conference. Flipkart had reported revenue of ₹43,357 crore for the financial year 2021, representing a 25% jump from the previous year. The company’s net loss also narrowed to ₹2,445 crore, representing a 22% decline. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/zomato-can-show-ebitda-profitability-in-the-next-three-years-but-only-on-one-condition/articleshow/92095600.cms">Zomato’s path to profitability in the next three years requires two things, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/news/deepinder-goyal-akshant-goyal-here-is-how-much-zomatos-dream-team-earned-since-october-2021/articleshow/92080767.cms">Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021</a>

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

<ul><li>Flipkart Internet, which handles the e-commerce arm of the company, saw a 40% rise in losses adding up to ₹1,624 crore.</li><li>Amazon India’s e-commerce vertical – Amazon Seller Services saw a 9.5% decrease in losses to ₹5,685 crore.</li><li>Amazon Pay saw its losses grow by 24.7%.</li></ul>The e-commerce giants in India – Flipkart and Amazon, have both posted massive losses for the financial year ending March 2019. The report card Flipkart Internet, which handles the e-commerce arm of the company, <a href="https://www.livemint.com/companies/company-results/flipkart-s-net-loss-rises-86-to-rs-3-837-cr-in-2018-19-11572290528106.html">saw </a>its losses widen by 40% to ₹1,624 crore. However, its operating revenues grew by 51% to ₹4,234 crore. That’s not all, Flipkart’s net loss also expanded by a whopping 86% to ₹3,837 crore. Meanwhile, Amazon India’s e-commerce vertical – Amazon Seller Services saw a dip in its losses which came in lower by 9.5% dip at ₹5,685 crore. Amazon’s revenues also grew by 55% to ₹7,778 crore. Its total losses in India crossed the ₹7,000 crore mark. Another blow to Amazon came with its payment arm – <a href="https://www.livemint.com/companies/company-results/amazon-india-s-e-commerce-arm-narrows-fy19-loss-to-rs-5-685-cr-11572291190455.html">Amazon Pay</a> which too posted record losses. It posted a to ₹1,160.8 crore loss which was 24.7% more than its previous fiscal’s loss. Continued investment, despite losses Amazon and Flipkart put together hold about 80% of India’s e-commerce share. So, even with the losses mounting, the two companies continue to fight it out in the market with sales and discounts. In the run up to the festive season, Amazon hit 344 million visits, Flipkart and Myntra combined had 314 million visits in September. Amazon and Flipkart individually had over twice the number of visits than that of Snapdeal, Club Factory, Shopclues, Tata Cliq and Paytm Mall combined.

Flipkart and Amazon are selling more but losing even more

<ul><li><cmsannotation type="cmsannotation" annotationid="Second biggest players in the BNPL market" comment="subhead" text="Second biggest players in the BNPL market"></cmsannotation><keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> Pay Laters provides credit up to ₹1 lakh to its customers depending on their credit profile.</li><li>The <keyword id="6592393" type="General" weightage="20" keywordseo="flipkart-pay-later" source="Orion">Flipkart Pay Later</keyword> feature is currently only available on Flipkart and Myntra, but it will be expanded to other platforms.</li><li>The company is now looking to go public in 2023 at a valuation of $60-70 billion.</li></ul>Walmart-owned ecommerce giant Flipkart on Thursday announced that it has doubled the user base of its ‘Buy Now, Pay Later’ (<keyword id="9522245" type="General" weightage="20" keywordseo="bnpl" source="Orion">BNPL</keyword>) business. The Flipkart Pay Later now has over six million users within seven months. Flipkart Pay Laters provides credit up to ₹1 lakh to its customers depending on their credit profile. The fintech venture allows customers to shop any number of times throughout the month and pay the total bill amount in part within 30 days or through EMI. The feature is currently only available on Flipkart and Myntra, but it intends to expand it further. After that, they could face competition from players like Simpl, LazyPay, Mobikwik, <keyword id="5988397" type="General" weightage="20" keywordseo="paytm-postpaid" source="Orion">Paytm Postpaid</keyword> and <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> Pay Later. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Simpl </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart Pay Later </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LazyPay </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm Postpaid </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mobikwik </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.8 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon Pay Later </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million+ </td></tr></tbody></table>Source: Company announcements <cmsannotation type="cmsannotation" annotationid="Second biggest players in the BNPL market" comment="subhead" text="Second biggest players in the BNPL market">Second biggest players in the BNPL market</cmsannotation> With 6 million users, Flipkart Pay Later is the second biggest ‘<keyword id="4585897" type="General" weightage="20" keywordseo="buy-now-pay-later" source="Orion">Buy Now Pay Later</keyword>’ player after Simpl. The feature can be used to purchase items across categories like groceries, lifestyle, general merchandise and home. It also offers longer-tenured EMI options to buy mobiles, consumer electronics and large appliances. Flipkart Pay Later currently processes 3 million long tenured EMI transactions on a monthly basis, and 90% of these transactions come from repeat customers. The company claims to offer a frictionless checkout experience as the platform does not require any paperwork or down payment before offering the credit line. “As per research, the Buy Now Pay Later (BNPL) market will grow 10x over the next five years, surpassing $40 billion by 2026. Interestingly, 45% of customers prefer to make purchases with BNPL options even if they have a credit card owing to the convenience that BNPL provides,” Dheeraj Aneja, senior vice president and head of fintech and payments group at Flipkart, said. Flipkart is currently pulling all strings for a successful public debut by 2023. The company raised <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$3.6 billion in July 2021 </a>in a run-up to this ambition, and is currently valued at $37 billion. It initially planned an initial public offering (IPO) in the USA by November 2022, seeking a valuation of $50 billion, but the plan was delayed due to market volatility. The company is now looking to go public in 2023 at a<a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms"> valuation of $60-70 billion</a>. To make this into a reality, Flipkart is looking to boost its online healthcare services and travel booking heavily, as per media reports. SEE ALSO <a href="https://www.businessinsider.in/tech/news/the-state-of-uttar-pradesh-and-how-its-been-feeding-facebook-ad-revenues/articleshow/91660700.cms" data-type="tilCustomLink" style="">The state of Uttar Pradesh and how it’s been feeding Facebook ad revenues</a> <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms" data-type="tilCustomLink" style="">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms" data-type="tilCustomLink" style="">Reliance Jio Vs Bharti Airtel — Four Charts That Showcase How The Indian Telecom Giants Faired In 2022</a>

Flipkart claims to be the second biggest ‘buy now, pay later’ player ahead of Paytm, Amazon

<ul><li><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> is the new kid on the block that has emerged as a challenger to <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> with 120 mn users</li><li>Aims to bring 100 mn small sellers across India online</li><li>The newly minted unicorn is looking at going public in less than two years after it turns profitable.</li></ul>Shaan Ansari is a 19-year old entrepreneur who lives in the historic city of Panipat, 100 kms north of Delhi, and he may never qualify for any list celebrating under-20 entrepreneurs, but his story is no less inspiring than Ranveer Singh’s character in Gully Boy. The pandemic put his father out of work and Ansari out of school back in 2020. When crisis struck, Ansari went scouting for opportunities online that would require zero investment and he found it in Meesho, a social commerce platform that is designed to help solo entrepreneurs and small businesses sell their wares to a wider audience. Ansari sourced bath mats and door mats made locally and started selling them on Meesho. When his suppliers could not meet the demand, Ansari borrowed money to start his own factory. Today he manufactures these mats from a rented factory, employs 50 people and clocks revenues of ₹30 lakh a month. It is transformational stories like Ansari’s that keep Meesho’’s co-founder and CEO Vidit Aatrey and his team going. Recalling his trip to Panipat, Aatrey, says, “The neighbourhood that Ansari lives in is a really humble one and his home actually doubles up as a warehouse. When I visited him, his staff and family offered dry fruits with chai. Ansari kept telling us how his family’s fortunes have changed after he discovered Meesho. As a team we travel every quarter to listen to sellers like Ansari on our platform and are now attempting to solve some of their other financial needs so that they don’t have to go to money lenders for working capital needs.” <div type="image" title="Meesho_1 (1)" height="900" width="1200" msid="93702892" hostid="261"></div> 100 million sellers to reach a billion buyers Aatrey’s dream is to get a million local businesses online so that they expand their markets by selling wares across India, irrespective of where they are located. In the last two years, this new kid on the block has emerged as a challenger to the Big Boys of e-commerce. Meesho - which is a short code for ‘my shop’ - has gotten bigger after the pandemic with 120 million monthly active users (MAUs) in a short span of time. Flipkart and Amazon have 200 million registered users each. Meesho’s target is to have 100 million sellers on its platform and sell to a billion buyers. Meesho was born on the premise that for online commerce to genuinely offer value, local retailers had to go online. Unorganized retail accounts for 90% of India’s spends. But when Aatrey and his co-founder Sanjeev Bamwal discovered that the sellers were not coming online because the buyers were not all shopping online. The pandemic has enabled Meesho to bring a lot more local businesses online as it was a matter of their survival. Challenging Amazon and Flipkart In the early days, Meesho’s sales were driven by 15 million women resellers, who bought products from the platform and sold it through WhatsApp and Facebook groups. From being a social commerce platform driven by re-sellers, it today has a share of nearly 30% in total daily online deliveries. Of the 9 million e-commerce orders processed daily, Meesho accounts for 2.7 million, while the two biggies account for 5 million. Clearly, Meesho is the challenger that nobody expected would catch up with Amazon and Flipkart. Another interesting statistic says that of the 70 million shoppers online, only 10 million are digital natives. It is a no-brainer then that India’s small businesses can provide the network effect to any online commerce platform that chooses to target this segment. Meesho waded into this space back in 2015, but found it tough to convince small entrepreneurs to come online because their customers were not online either. Language barriers and quality of internet speeds were only a few reasons why sellers were not online. Even when they brought sellers online, their buyers were still not online nor was Meesho’s app on too many smartphones. This changed after the pandemic but before that it was Meesho’s army of 15 million women resellers that drove its gross merchandise value up until 2020. Meesho is called a social commerce channel because it has been built by women resellers who found a vocation and economic independence by reselling goods purchased from the platform on WhatsApp and Facebook groups. Between 2017 and 2020, 100% sales were happening through resellers. The share of these women resellers is now down to 20% as consumers have now started downloading the app. Meesho’s monthly average users stand at 120 million and 35 million users transact on the app every month. On an average, 110 million Indian shoppers bought on Meesho last year. Not surprising that investors have also queued up to invest in the company. After raising seed capital of $300,000 from angel investors in March 2016, Meesho is valued at $4.9 bn after its latest round of capital raise of $570 mn in September 2021. Its list of marquee investors include Soft Bank Vision Fund 2, Prosus, Fidelity Management and Research, Yuri Milner’s DST Partners, Sequoia, SAIF Partners and Y Combinator among others. Sellers turn brand ambassadors <div type="image" title="Meesho_2 (1)" height="900" width="1200" msid="93702936" hostid="261"></div> Currently, there are six lakh sellers like Ansari on Meesho and the start-up wants to take this to one million. This goal may be work-in-progress, but every week employees join the Meesho Sabha, a meeting where examples like Ansari are discussed at length so that the team does not take its eyes off the goal post. Even though Meesho continues with its outreach programme to help sellers, existing sellers have now become brand ambassadors who are helping others get online. The platform offers peer-to-peer learning in several languages for those who want to get started. Says Dhiresh Bansal, chief financial officer of Meesho, “We still do our outreach programmes but a lot of people are now coming to our platform, as they need to diversify by targeting newer markets. Also the younger generation is more progressive and are taking their family businesses online.” After its success in the last two years, Meesho’s working hard to resolve several issues of sellers on its platform. Most of these sellers have seen a sharp rise in demand for their products after going online and the need for working capital requirement has gone up sharply. Lucknow-based Suman Agrawal used to sell women’s fashion clothing at her boutique but has shut it down after her brand Rudraksh saw sales boom on Meesho. She currently manages 22,000 orders a month. There are several sellers in India who cannot go online because they don’t have the requisite GST number. Aatrey has been a votary of their cause for a while. In June this year, the GST Council cleared a proposal that will no longer require sellers on e-commerce platforms to have a GST registration, if their turnover is less than ₹40 lakh and ₹20 lakh for goods and services respectively. This rule will come into effect from January 2023. Aatrey believes that this will be a game changer for millions of small sellers across India. While the company is not looking to raise capital immediately, it has plans to turn profitable and then hit the markets in a couple of years. The e-commerce player is looking at tightening its belt on costs now that it has attained scale. If it has to turn profitable in under 2 years then Meesho will have to cut back on cashburn and conserve capital. Aatrey says, “This festive season will give us an indication if there is any slowdown. We have not seen that so far, so it will be something that we will learn from.” <div type="image" title="Meesho_3 (1) (1)" height="900" width="1200" msid="93703012" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/not-just-ev-makers-there-are-many-more-stocks-that-can-gain-from-ev-play/articleshow/93696654.cms">Not just EV makers, there are many more stocks that can gain from EV play</a>

Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

(Photo Credits: maxpixel.net) <ul><li>According to a report by <keyword id="6386585" type="UNKNOWN" weightage="20" keywordseo="Barclays">Barclays</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> dominates Indian retail market with gross sales of $7.5 billion compared to that of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which recorded gross sales of $6.2 billion for FY18 excluding its subsidiaries – Myntra and Jabong. </li><li>However, industry experts point out that the two e-retailers can not be compared due to different parameters they use to evaluate growth. </li><li>In terms of revenues, Flipkart recorded a revenue of $3.8 billion, which was $600 million more than that of Amazon’s $3.2 billion.</li></ul>Online retailers Amazon and Flipkart have been competing neck and neck in India, but the jury is still out on who dominates the Indian market. That is because the online retailers usually rely on different parameters to evaluate their growth — gross merchandise value, and revenue. The two were recently evaluated on their gross sales they made for their most recent financial year. <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-india-beats-flipkart-in-gross-sales-says-barclays/articleshow/66836692.cms">According to a estimates </a>by Barclays, Amazon surpassed Flipkart’s gross sales at $7.5 billion compared to latter’s $6.2 billion, Times of India <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-india-beats-flipkart-in-gross-sales-says-barclays/articleshow/66836692.cms">reported</a> citing Barclays. The number, however, excludes gross sales of Flipkart’s subsidiaries – Myntra and Jabong, estimated to be around $2 billion, according to Times of India. However, in terms of revenues, Flipkart recorded a revenue of $3.8 billion, which was $600 million more than that of Amazon’s $3.2 billion. The overall growth rate of Amazon over the previous year saw an increase of about 82%, while Flipkart recorded a growth of 47%, in terms of revenue, according to BloombergQuint. For the current financial year, ending in March 2019, Amazon’s gross sales is<a href="https://www.bloombergquint.com/technology/amazon-beats-flipkart-to-become-indias-largest-online-retailer-by-gross-sales"> predicted</a> to increase to $11.2 billion, which is 30% more than that estimated for Flipkart — $8.7 billion, said the Barclays report. According to an analysis by LiveMint, while the Barclays report evaluated Amazon Pay, it did not include Flipkart’s payment company PhonePe. Flipkart has recently claimed that it is nearly double the size of Amazon. That estimate is based on numbers that show increasing revenues and market share in the past two years. Wal-mart acquired Flipkart earlier this year for $16 billion. With the backing of the US retail giant, it’s likely it will be a close race between the two.

Has Amazon overtaken Flipkart? New numbers reopen the debate

<ul><li>The latest regulations are an amendment to the Consumer Protection (<keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">E-Commerce</keyword>) Rules of 2020.</li><li>All e-commerce entities will have to appoint a compliance officer, grievance officer and a nodal contact person.</li><li><keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword> is also looking to launch an antitrust probe in the business practices of both <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>.</li></ul> The government of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> has decided to revise the e-commerce regulations, as offline retailers in the country continue to be dissatisfied with predatory practices of the e-commerce giants like Amazon and Flipkart. According to the new draft regulations by the Ministry of Consumer Affairs, Food and Public Distribution, e-commerce entities might be prohibited from hosting flash sales. The department of consumer affairs, in the amended policy, defines flash sales as “sale organised by an e-commerce entity at significantly reduced prices, high discounts or any other such promotions or attractive offers for a predetermined period of time on selective goods and services or otherwise with an intent to draw large number of consumers” Notably, organisations like Confederation of All India Traders (CAIT) have previously accused Amazon and Flipkart of giving deep discounts and eating into their businesses. The latest amendments to the Consumer Protection (E-Commerce) Rules of 2020 also bar e-commerce entities from displaying or promoting any misleading advertisements, whether in the course of business on its platform or otherwise. The ministry released the draft on Monday, June 21. Just like the Consumer Protection Act of 2019, which came into force in<a href="https://www.businessinsider.in/advertising/brands/news/the-new-consumer-protection-act-2019-provision-for-heavy-fines-and-even-jail-terms-for-misleadings-ads/articleshow/77065225.cms"> July last year</a>, the latest amendments aim to smoothen the grievance redressal process on e-marketplaces. Each e-commerce platform will have to establish an adequate grievance redressal mechanism. These platforms, including Amazon and Flipkart, will also have to appoint a Chief Compliance Officer, a Resident Grievance Officer and a nodal contact person in India. <table></colgroup><tbody><tr><td colspan="2" style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; background-color: rgb(207, 226, 243); padding: 2pt; overflow: hidden; overflow-wrap: break-word;">New draft e-commerce policy proposes new appointments </td></tr><tr><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Appointment </td><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Role </td></tr><tr><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Chief Compliance Officer </td><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Ensuring compliance with the Indian rules and Acts </td></tr><tr><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Resident Grievance Officer </td><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Ensuring redressal of grievances </td></tr><tr><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Nodal Contact Person </td><td style="border-width: 1.5pt; border-color: rgb(0, 0, 0); vertical-align: bottom; padding: 2pt; overflow: hidden; overflow-wrap: break-word;">Ensuring coordination with law enforcement agencies and officers </td></tr></tbody></table>The e-commerce rules are a combination of the Consumer Protection Act of 2019, Indian Exchange Control Laws (IEC Regulations) and the Information Technology Act of 2000. These guidelines have been set in place to ensure fair play in technology and a data-driven e-commerce environment. The latest amendment to the Consumer Protection (E-Commerce) Rules of 2020 also states: <ol><li>All e-commerce entities should be registered with the department for promotion of industry and internal trade (DPIIT).</li><li>E-commerce entities should provide information within 72 hours of receiving an order from a government agency.</li><li>E-commerce entities are barred from manipulating search results and cross selling of products.</li></ol>Cross-selling means sale of goods or services which are related or complimentary to a purchase made by a consumer. Usually e-commerce companies follow these practices to maximise their revenue. Praveen Khandelwal, CAIT’s secretary general, believes that the latest guidelines will purify the e-commerce landscape of the country, “which has been greatly vitiated by various e-commerce global companies to the extent that not only the domestic trade has been damaged, but even the consumers are also feeling the heat of their unethical business practices.” The lobby group has once again<a href="https://www.businessinsider.in/policy/news/amazon-and-flipkart-are-destroying-indias-retail-sector-says-cait-asks-government-to-revise-fdi-policy-in-e-commerce/articleshow/81567283.cms"> accused</a> the foreign funded e-commerce companies like Amazon and Walmart-owned Flipkart of violating India’s foreign direct investment (<keyword id="44528" type="COMPANY" weightage="20" keywordseo="FDI">FDI</keyword>) policy. Previously, CAIT and All India Online Vendors Association (AIOVA) have accused these e-commerce giants of flouting Foreign Exchange Management Act (FEMA) rules and devoiding the government of goods and services tax (<keyword id="6354679" type="DEFINITION" weightage="20" keywordseo="gst">GST</keyword>) with their deep discounting policy. The accusation made by lobby groups, along with a few media reports, have put e-commerce entities especially Amazon and Flipkart on a tough spot with the Indian government. Not only is the central government scrutinising their actions, but is also looking to amend India’s FDI policy to create a level playing field for local players. The <a href="https://indiacorplaw.in/2019/01/dipps-revised-fdi-policy-e-commerce-changing-rules-game.html">FDI policies</a> for e-commerce prohibit foreign funded e-commerce companies from selling products of the retailers they have a majority stake in, giving preferential treatment to certain sellers and having a control of their inventory. However, the deep discounting practices did raise questions about Amazon’s and Flipkart’s control over its inventory and pricing policies. In addition, India’s competition watchdog Competition Commission of India (CCI) is planning to launch an <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-have-challenged-cci-decision-to-launch-an-antitrust-investigation/articleshow/83601987.cms">antitrust probe</a> into Amazon’s and Flipkart’s business practices. The antitrust investigation would look into the alleged policy violations and anti-competitive behaviours of both the companies. SEE ALSO: <a target="_blank" class="c-link" href="https://www.businessinsider.in/cryptocurrency/news/portugals-central-bank-clears-two-crypto-exchanges-for-operations/articleshow/83705548.cms">Portugal’s central bank clears two crypto exchanges for operation</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/after-assam-up-law-commission-proposes-population-control/articleshow/83706798.cms">India’s most populous state is about to take some stringent measures to control population</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/startups/news/james-murdoch-plans-to-raise-150-million-from-ultra-rich-to-invest-in-indian-startups/articleshow/83709567.cms">James Murdoch plans to raise $150 million from ultra rich to invest in Indian startups</a>

Amazon, Flipkart and other e-commerce platforms may not be able to do flash sales any more, if Indian government has its way

<ul><li>Walmart, in July 2020, made its second investment in Flipkart, two years after it bought an almost 80% stake in the Indian e-commerce giant for $16 billion. </li><li><keyword id="141343" type="POSITION" weightage="20" keywordseo="WalMart-CEO">Walmart CEO</keyword> <keyword id="846055" type="PERSON" weightage="20" keywordseo="Doug-McMillon">Doug McMillon</keyword> defended Flipkart’s valuation and added that they were really ‘pleased’. </li><li> McMillon also said that their acquisition of Flipkart and seeing its success in the Indian market has also helped Walmart.</li></ul>Walmart, in July 2020, made its second investment in Flipkart, two years after it bought an almost 80% stake in the Indian e-commerce giant for $16 billion. One would have expected that Flipkart, which was not only Walmart’s strong bet in e-commerce but also bought out Walmart India recently, would see a much higher jump in valuation than the 19% hike. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart Valuation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Walmart Investment </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$21 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 billion </td></tr></tbody></table> But during an earnings call on Tuesday, Walmart CEO Doug McMillon defended Flipkart’s valuation and said that they were really ‘pleased’. “We're not really getting hung-up on the valuation in the short-term. Over time, I think everybody will understand just how valuable business in India is, whether it's the Flipkart portion or the PhonePe portion,” he said. It’s worth noting that PhonePe – Walmart’s payments bet through Flipkart, has been witnessing a <a href="https://www.firstpost.com/tech/news-analysis/whats-the-real-value-of-phonepe-which-wants-to-be-indias-second-biggest-unicorn-7873361.html">valuation crisis</a>. While it was valued at $1.5 billion in 2018 after Walmart’s investment in Flipkart, over the last two years the company has grown with numerous rounds of funding from Flipkart itself. While <a href="https://entrackr.com/2019/09/morgan-stanley-phonepe-valuation-7-bn/">Morgan Stanley</a> had valued the payments firm at $7 billion, reports say PhonePe has been looking at a $10 billion valuation. Meanwhile, McMillon said that having been excited about Flipkart’s performance during and after COVID-19 lockdown, Walmart wanted to make sure they had enough cash to operate, and that’s why the investment came through in July. “This is a time when there's so much of an opportunity that the size of the price in India is significant. We want to make sure that we're on our front foot being aggressive,” he said. Walmart’s big e-commerce jump is also thanks to Flipkart Walmart surprised market analysts on Tuesday after its profits jumped 8.5% to $6.1 billion, while its revenue grew by 5.6% to $137.7 billion. Another surprising number was the US retail giant claiming that its e-commerce sales had nearly doubled on a year-on-year basis. And this comes after Walmart has been <a href="https://www.vox.com/recode/2019/7/3/18716431/walmart-jet-marc-lore-modcloth-amazon-ecommerce-losses-online-sales">trying</a> to win over the e-commerce segment for years now. McMillon explained that the success in e-commerce sales comes as many things were aligned even before the coronavirus pandemic, and the lockdown only accelerated the same. McMillon added that their acquisition of Flipkart and seeing how it takes off in the Indian market has also helped Walmart. “We're learning a lot from Flipkart and how they operate,” he said during the call. Walmart CEO also said that despite the coronavirus pandemic, Flipkart has seen its sales <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-both-hit-the-mark-with-e-commerce-a-97-jump-in-us-while-india-sales-exceeds-pre-covid-levels/articleshow/77613774.cms">exceeding pre-COVID levels</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Walmart CEO defends Flipkart's valuation, says learnings from India helped double their e-commerce sales

Is <keyword id="2364818" type="UNKNOWN" weightage="100" keywordseo="E-commerce-3-0">e-commerce 3.0</keyword> only about business tweaks? Almost all experts will tell you that the new format of <keyword id="35621" type="UNKNOWN" weightage="100" keywordseo="e-commerce">e-commerce</keyword> is on its way, but nobody is quite sure what it is like. Some pinpoint it as online shopping, largely influenced by social media parameters, while others are betting big on the mobile impact. No doubt these are crucial indicators, but they only provide you a partial glimpse into the business-to-consumer (B2C) part of it. However, we need to take a more incisive look at the fast-evolving strategic context of e-commerce, which is throwing up some surprising trends that may affect the industry in the long run. Let us take a look at the recent happenings in the Indian e-commerce space to identify the most prominent trends and what they signify. 
	 
	 
	 
	1. Calibrated aggression for survival: That’s exactly what the much-anticipated cash-and-stock deal between <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword> has taught us. Competition has been ironed out by strategic <keyword id="42411" type="UNKNOWN" weightage="100" keywordseo="Merger">merger</keyword> in order to survive against global giants like <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword>. Flipkart is not new to the game but co-founders Sachin and <keyword id="6364080" type="PERSON" weightage="100" keywordseo="Binny-Bansal">Binny Bansal</keyword> have not gone the LetsBuy way this time, for pretty predictable reasons (for your recap, Letsbuy.com was the electronics e-tailer that was acquired by Flipkart in February 2012 and shut down in May that year). 
	 Before the acquisition, the Myntra brand was way ahead of Flipkart as the <keyword id="2364834" type="UNKNOWN" weightage="100" keywordseo="Biggest-India-fashion-e-tailer">biggest India fashion e-tailer</keyword>. While Flipkart required size to survive against the likes of Amazon, the bigger margins enjoyed by fashion e-tailing was an added icing to the cake (after all, fashion is expected to be the largest category in e-commerce over the next five years). So this time around, it was a calibrated aggression on Flipkart’s part and the merger, along with the much-talked-about <keyword id="2364826" type="UNKNOWN" weightage="100" keywordseo="Management-autonomy">management autonomy</keyword> enjoyed by <keyword id="705865" type="PERSON" weightage="100" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword>’s Myntra, will continue to work for two specific reasons. 
	 One is local competition, not only from <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword>, which is promoted by Berlin-based <keyword id="1965711" type="COMPANY" weightage="80" keywordseo="Rocket-Internet-GmbH">Rocket Internet GmbH</keyword> (a venture arm of the deep-pocketed Samwer brothers), but also from <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>.com, quite a veteran in the marketplace model. It is too early to assume that Jabong has missed the bus in stamping its dominance in the <keyword id="902070" type="UNKNOWN" weightage="100" keywordseo="e-com">e-com</keyword> space and the same applies to Snapdeal, which has recently raised $100 million and could be opting for an IPO in the next 18-24 months. Moreover, if India eases its <keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword> policy further and allows <keyword id="2364830" type="UNKNOWN" weightage="100" keywordseo="Foreign-e-commerce-companies">foreign e-commerce companies</keyword> to sell their products directly to Indian consumers (as of now, only marketplaces are allowed to do this), <keyword id="2364831" type="UNKNOWN" weightage="100" keywordseo="Home-grown-e-commerce-firms">home-grown e-commerce firms</keyword> will require maximum <keyword id="573045" type="UNKNOWN" weightage="100" keywordseo="Customer-loyalty">customer loyalty</keyword> to stay in business and the likes of Myntra will play a key role in ensuring enhanced <keyword id="485911" type="PERSON" weightage="100" keywordseo="brand-loyalty">brand loyalty</keyword>.
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	The way ahead: Similar mergers may happen soon and we may see some monopolistic polarisation in the e-commerce space. If branding and management autonomy can be retained in the same way it had been done in the <keyword id="2196490" type="UNKNOWN" weightage="100" keywordseo="Flipkart-Myntra-deal">Flipkart-Myntra deal</keyword>, a Snapdeal-Jabong deal may very well be a possibility. On the other hand, Amazon may come up with a similar offer for Snapdeal (we don’t rule out <keyword id="161767" type="COMPANY" weightage="100" keywordseo="eBay-India">eBay India</keyword> either) and once again, we may witness the emergence of an e-commerce mega power in India. Also, in most of these deals, unequals could be gunning for merger-of-equals status, thus complicating the merger and acquisition operations. Ultimately, the <keyword id="2364839" type="UNKNOWN" weightage="100" keywordseo="Entry-barrier">entry barrier</keyword> will be too high for small or niche e-commerce sites and staying profitable will become a tough proposition. 
	 
	 
	 
	2. SME focus for marketplace growth: A couple of days ago, Flipkart announced tie-ups with two SME (small and medium enterprise) promotion bodies and signed MoUs with the Federation of Indian Micro and <keyword id="6375845" type="UNKNOWN" weightage="100" keywordseo="Small-and-medium-enterprises">Small and Medium Enterprises</keyword> (<keyword id="174192" type="ORGANIZATION" weightage="100" keywordseo="FISME">FISME</keyword>) and the National Centre for Design and Product Development (<keyword id="2348217" type="UNKNOWN" weightage="100" keywordseo="NCDPD">NCDPD</keyword>). With this move, the Bangalore firm expects to create a powerful affiliation with 50,000 SMEs and artisans by helping them with data analytics, marketing and customer acquisition. The company is also holding talks with several <keyword id="533862" type="UNKNOWN" weightage="100" keywordseo="Manufacturing-clusters">manufacturing clusters</keyword> in Punjab, Uttar Pradesh and Gujarat in a bid to attract more sellers on board and thus ensure strong growth for its marketplace model. 
	 
	As of now, Flipkart has about 3,000 sellers on board, mostly SMEs, and offers 15 million products across 70-plus categories. The company aims to grow the seller base to 12,000 by the end of the current fiscal, according to Economic Times. Myntra, too, has about 100 sellers on board and plans to increase this number to 1,000 by fiscal-end. However, this is too paltry a number, compared to the largest Chinese <keyword id="2049184" type="UNKNOWN" weightage="100" keywordseo="E-commerce-marketplace">e-commerce marketplace</keyword> <keyword id="302749" type="COMPANY" weightage="100" keywordseo="Alibaba">Alibaba</keyword>.com that has about 20 lakh SMEs on board, but has less than 20,000 in India. 
	 As for other key players in India, here are some mindboggling numbers according to media reports. Snapdeal currently features about 500 categories, 100,000 sellers and more than 5 million products (excluding books and movies); eBay has 1.1 million product listings at any given point <keyword id="54921" type="ENTERTAINMENT" weightage="60" keywordseo="spread">spread</keyword> across 2,000 categories and 45,000 sellers on board while Amazon has 15 million products from 5,000 sellers across 24 categories. Amazon has already opened two Fufillment Centers in India, enabling home-grown SMEs to get a scalable and robust national platform. Sellers opting for FBA (<keyword id="2023087" type="UNKNOWN" weightage="100" keywordseo="Fulfillment-by-Amazon">Fulfillment By Amazon</keyword>) send their products to these ‘fulfillment centers’ and once an order is placed, Amazon packs and ships the order.
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	The way ahead: Right now, no one can possibly predict whether the death of the inventory-led e-commerce model is imminent. But one thing is pretty certain – e-commerce businesses need as many products and categories as possible to enhance customer engagement. However, that won’t be possible without growing their marketplaces and bringing on board a huge number of sellers. Hence, the <keyword id="2364811" type="UNKNOWN" weightage="100" keywordseo="SME-focus">SME focus</keyword> and <keyword id="6630005" type="UNKNOWN" weightage="100" keywordseo="private-labels">private labels</keyword> are going to dominate e-commerce 3.0. 
	 
	 
	 
	3. VAS for better customer loyalty: In spite of a Mumbai firm delivering pizza on an experimental basis, civil/commercial drones à la <keyword id="2364850" type="UNKNOWN" weightage="100" keywordseo="Amazon-Prime-Air-drones">Amazon Prime Air drones</keyword> are still not a reality in India (neither they are commercially ready in the US). However, Amazon, eBay, Flipkart and Snapdeal are trying their best to ensure ‘fastest possible’ delivery in the country. While <keyword id="6354743" type="COMPANY" weightage="100" keywordseo="Amazon-India">Amazon India</keyword> offers same-day and guaranteed one-day delivery, eBay is testing a 9-hour delivery model in Mumbai. 
	 Only recently, Flipkart has launched its annual subscription service called <keyword id="2230132" type="UNKNOWN" weightage="100" keywordseo="Flipkart-First">Flipkart First</keyword>, offering a number of benefits including <keyword id="1591575" type="UNKNOWN" weightage="100" keywordseo="free-shipping">free shipping</keyword> for any purchase, free in-a-day guaranteed delivery, <keyword id="2364858" type="UNKNOWN" weightage="100" keywordseo="Discounted-same-day-delivery">discounted same-day delivery</keyword>, 24×7 <keyword id="2364859" type="UNKNOWN" weightage="100" keywordseo="Priority-customer-service">priority customer service</keyword> and more. This is similar to the lucrative logistics part of Amazon’s Prime subscription (currently not available in India), but Amazon offers a bigger service bouquet for its Prime subscribers, including access to songs, movies, TV shows and books. Flipkart, or any other Indian e-tailer for that matter, is yet to launch such extensive customer engagement programme, but the bait has been thrown by Flipkart and to some extent, by Snapdeal, which also offers free same-day delivery in certain regions and hopes to expand this service next year. 
	 
	The way ahead: Some experts feel that e-com businesses will soon curtail services like <keyword id="1972252" type="UNKNOWN" weightage="100" keywordseo="Express-delivery">express delivery</keyword> and free shipping in order to generate more cash. High transportation costs and other logistics issues have been cited as the main culprits. But keeping in mind that <keyword id="758541" type="ORGANIZATION" weightage="100" keywordseo="Amazon-Prime">Amazon Prime</keyword> works more as a <keyword id="1426078" type="UNKNOWN" weightage="100" keywordseo="loyalty-programme">loyalty programme</keyword> and less as a revenue-churner, fixing fickle customer loyalty may lie in developing these services. Now that Flipkart is going to market <keyword id="2364868" type="UNKNOWN" weightage="100" keywordseo="Affordable-tablets">affordable tablets</keyword> under its <keyword id="2338688" type="UNKNOWN" weightage="100" keywordseo="DigiFlip">DigiFlip</keyword> label, the Indian e-commerce giant can very well experiment with some Prime-like services and craft user experience based on ‘All things Flipkart’ just as Amazon does with its affordable <keyword id="785825" type="UNKNOWN" weightage="100" keywordseo="Kindle-Fire">Kindle Fire</keyword>. If that happens and other companies follow suit, e-commerce 3.0 in India will evolve into an inclusive and exciting user experience. For now, let us wait and watch. 
	 
	Images: Thinkstock/Getty Images

Life After
Flipkart-Myntra Deal: Will These 3 Trends Rule E-commerce In India?

<ul><li><keyword id="1807079" type="PERSON" weightage="20" keywordseo="Flipkart-founder">Flipkart founder</keyword> <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> said that it's time to open the economy. </li><li>Bansal is of the opinion that we can’t make use of current opportunities if we continue to stay home. </li><li>But he isn’t the only one, other industry leaders too have called for opening up of factories and industries.</li></ul>US President Donald Trump famously said that the ‘cure can’t be worse than the problem’ and he received a lot of flak for it. Billionaire <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> has taken the same line and faced the same fate. 8,000 miles away in India, an icon of Indian startups, Sachin Bansal is the latest to join that list of businessmen who can’t wait for the <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">coronavirus lockdown</keyword> to end. The subject has been an open debate from drawing rooms to television channels⁠—- will hunger and poverty kill more people in the process containing COVID-19 <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>? The coronavirus pandemic has shut down economies and has put millions across the world out of work. Daily wage earners to members of the gig economy are among the worst hit. <div type="Article" hostid="261" msid="75453118" title="Finally, millions of India’s stranded migrants can get a transport home — but conditions apply" mstype="2" mssubtype="0"></div> And in light of this, Flipkart founder, and now CEO of fintech firm Navi Technologies, Sachin Bansal today took to Twitter to say that people who want to work should be allowed to. “We can't lock ourselves up for 2 years in homes waiting for a vaccine. India can't make use of the opportunities if our most productive people are locked in their homes. With COVID's growth slowing down it's time to open up the economy. We have to learn to live with the virus,” he wrote. <div type="twitter" handle="_sachinbansal" handlename="Sachin Bansal" image="http://pbs.twimg.com/profile_images/1157528461918949376/xC-Vx-FX_normal.jpg" favoritecount="607" retweetcount="124" status="We can't lock ourselves up for 2 years in homes waiting for a vaccine. India can't make use of the opportunities if… https://t.co/wARO98OsSu" createdat="1588165332000" id="1255482517467127812"></div> Earlier, Bansal had also tweeted that he wasn’t in the favour of <keyword id="123591" type="PERSON" weightage="20" keywordseo="Work-from-home">work from home</keyword> and that his productivity fell while<a href="https://www.businessinsider.in/india/news/is-sachin-bansal-right-does-work-from-home-really-suck/articleshow/74672290.cms"> working remotely</a>. Due to the lockdown and its consequent impact on the economy, there is a growing shortage of supply of goods in the market and the disruption has led to loss of revenue and, consequently, loss of jobs. And Bansal is not the only one to ask for the economy to be reopened. The chairman of Jindal Steel and Power Limited, Naveen Jindal, in <a href="https://www.firstpost.com/business/getting-india-back-in-the-fast-lane-factories-industrial-units-should-be-allowed-to-resume-under-supervision-writes-naveen-jindal-8254611.html">an article</a> wrote, “We could surely get India to resume its manufacturing activities, under strict supervision, with a hygiene and health protocol in place. We could, thus, make up for the lost momentum.” Globally too, Elon Musk faced a lot of flak for sending an email to employees saying that all those who are sick can stay home but he is going to continue <a href="https://www.washingtonpost.com/technology/2020/04/29/musk-tesla-coronavirus/">going to work.</a> Trump started early US President Donald Trump in a <a href="https://www.realclearpolitics.com/articles/2020/03/24/trump_we_cant_have_the_cure_be_worse_than_the_problem_142750.html">press conference</a> had said that he wants the economy to reopen as soon as possible, within weeks. “We can’t have the cure be worse than the problem. We have to open our country because that causes problems that, in my opinion, could be far bigger problems,” Trump said on March 23. Since then, the US has piled on over 1 million COVID-19 cases with over 59,000 deaths. That’s a number that could keep people on the fence from taking this side of the debate. See Also: <a href="https://www.businessinsider.in/international/news/200000-h1-b-visa-holders-hope-us-will-extend-status-to-september-as-june-deadline-comes-to-a-close/articleshow/75445367.cms">200,000 H1-B visa holders hope US will extend status to September as June deadline comes to a close</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-has-reportedly-listed-giving-loans-as-a-main-objective/articleshow/75445825.cms">WhatsApp has reportedly listed giving loans as a ‘main’ objective— and it could be a big feature in Facebook and Reliance Jio’s partnership</a>

You Searched For "flipkart revenue numbers" and got 12 results

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Sachin Bansal takes the same line as Donald Trump and Elon Musk ⁠— let people work and “live with the virus”

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