Flipkart
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Flipkart is an Indian e-commerce company founded in 2007 that is one of the leading online retailers in India. It sells a wide range of products including books, electronics, apparel and more. Flipkart uses SEO, social media marketing and television advertisements to promote its brand and products. It aims to provide customers with a simple and reliable shopping experience through features like cash on delivery, easy returns, and customer service. Flipkart's success is built on its robust supply chain and logistics network that allows it to store and deliver large numbers of products efficiently.
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Flipkart
- 1. Rishabh Anand 11100843 Lovely Professional Universit
- 2. Introduction Flipkart is an Indian e-commerce retail company. • It is one of the leading e-commerce players in the country. • Founded by Sachin bansal & Binny bansal in Bangalore, Karnataka in 2007. • Incorporated as a company in October 2008 as Flipkart Online Services Pvt. Ltd.
- 3. Introduction • 4600+ employees . • Turnover: • 9900 crore (US$1.6 billion) • Started with books, and soon as it expanded, it started offering other products. • The first product sold by them was the book, John Woods' Leaving Microsoft to Change the World. bought by VVK.Chandra from Andhra Pradesh. ????????
- 5. Statements Vision ◦ “To become Amazon of India”. Mission ◦ Providing a delightful and memorable customer experience. Objective ◦ “Completely hassle free shopping experience with best prices in India”.
- 6. Founders
- 7. Sachin Bansal CEO and Co-founder Graduated from IIT-Delhi with a degree in Computer Engineering. In 2006 he joined Amazon.com in India which he later left to set-up Flipkart. Oversees all the customer facing activities of the company ranging from technology to marketing. He is also in charge of Flipkart's corporate divisions which include the finance and legal departments.
- 8. Binny Bansal Co-founder. Born and raised in Chandigarh. Computer Engineering from IIT Delhi. Worked with Amazon before taking the entrepreneurial plunge with Flipkart. Oversees all operational activities that come into play from the time the customer places an order till the time of delivery. Warehousing, logistics and customer support.
- 9. Funding • Initially funded by the Bansals themselves with 4 Lakhs(INR). • Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010). • Private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in Flipkart, according to sources. • Break even : March 2010 and claims to have had at least 100% growth every quarter since its founding.
- 10. Awards & Recognition Sachin Bansal got Entrepreneur of the Year Award 20122013 from Economic Times. Flipkart.com was awarded Young Turk of the Year at CNBC TV 18‟s „India Business Leader Awards 2012‟ (IBLA). Flipkart.com- got Nominated for India MART Leaders of Tomorrow Awards 2011. Flipkart.com, secured second position in the List of Cheapest Mobile Store 2013, compiled by Indian ecommerce observer Zoutons.com.
- 11. Company structure social network based book recommendati on and review platform. a digital content platform company Bollywood news site that offers updates, news, photos and videos India's second largest e-retailer in electronics, bough t the company for an estimated US$ 25 million
- 12. SWOT Analysis Strength Brand value Network reach Huge product portfolio Weakness High level of competition Ongoing price wars Clutter creation Opportunities Rural markets Overseas market Threats Growth of International players Customer loyalty
- 13. Advantages over brick and mortar store No need to spend much on supporting services. Goods can be offered at lower prices. Large scale business can be managed from a single place. Requires less space and capital in order to start up an online business.
- 14. Value added services Great customer service users are more satisfied as compared to competitors. Great customer service has been its hallmark. User friendly The user interface is sleek and easy to use. Cash on delivery Almost 60% of its sales happen through this mode. Cash on delivery created trust in the minds of Indian customers. Replacement 30 days replacement policy.
- 15. Wallet Allows shoppers to store money on the site and use it to purchase items, without having to reach for their credit card for each transaction.
- 16. Challenges Faced • Initially, it wasn‟t easy to earn the trust of the customer. • Lack of real time interaction affects the faith of customer. • The discomfort shown by customers in revealing there financial details. • Highest number of orders get registered during weekends proves to be tough at times for logistics and customer service. face significant challenges in reverse logistics. It's a big task to track unsuccessful orders, which are quite costly to manage.
- 18. Promotional Strategy Initially they used word of mouth to create awareness. RESULT : Within two years Flipkart became one of the top 100 Indian sites and was credited for being India's largest online bookseller with over 10 million titles on offer. Flipkart very wisely used SEO (Search Engine Optimization) and Google Ad-words as the marketing tools to have a far reach in the online world. Flipkart.com official Face book page has close to 24 lac 'likes'. Flipkart launched a series of 3 ads with the tag line - "No Kidding No worries"
- 19. Advertisements
- 20. No Kidding, No Worries Kids were used to create the adverts to send out the message - if a kid can do it, you can also do it. No Kidding, No Worries, “Trap Them Young”. The story board of adverts, feature kids in adult situations (context to adult voice overs), like a beauty parlor, a cafe, and an office. The Hinglish language & the happening places is the heart of No Kidding, No Worries advertisement series. The creative director succeeds to keep KOOLNESS of Brand Flipkart.
- 21. Results: Ad campaign Website traffic, orders and revenue all doubled post the campaign. Flipkart was clocking Rs 30 cr/month. By the end of the campaign they clocked in excess of Rs 60 cr each month. Website traffic jumped to 100 lakh visits per month and 1000 lakh page views. Today Flipkart ships close to 30,000 items every day ie 17 items every minute. The campaign was skewed towards the new electronics categories whose contribution went up from 40 percent to 60 percent in the two months of the campaign.
- 22. Placing an order
- 24. What makes it stand out? • A robust back-end is a vital pre-requisite for an online business to survive. • Since once the customer completes transaction, it's this back-end that connects the dots. • The procurement model is at the heart of Flipkart‟s success, as most delays or troubles occur in this part of business. • Flipkart began operations on the consignment model i.e. procurement based on demand. • Goods are procured from suppliers on demand, based on the orders received through the website.
- 25. Logistics
- 26. Flipkart has its own warehouses, and maintains its own inventory. Warehouses: Bangalore Chennai Delhi Hyderabad Mumbai Noida Pune Kolkata Now they're present in 27 lucky cities, but don't worry, plans are underway to spread to many others.
- 27. Delivery.. Flipkart is seen delivering through their own delivery boys in Bangalore and at times within 12hrs from order. Dedicated Flipkart delivery team that works round the clock to personally make sure packages reach on time. Flipkart is looking to develop their self managed logistic support.
- 28. ‘Making better our service promise’.
- 29. Flipkart connects with customers in real-time, through Facebook and Twitter. Trained customer service executives to take spot decisions. Addressing customer concerns and owning up to our mistakes, reassure customers we have their best interests at heart. As a customer-centric organisation, none of the issues can remain unresolved for long. The founders don't think discounts can replace the customer's satisfaction of being serviced promptly and efficiently.
- 30. Suggestions Rural markets can be targeted Restaurants & hotel booking services can be added Can go for overseas market Can provide logistic services to other companies also.
Editor's Notes
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