Dr. Vishal Khasgiwala
PGDM 3rd trimester
Flipkart is an Indian electronic commerce company headquartered in Bangalore, Karnataka. It was founded by Sachin Bansal and Binny Bansal in 2007 and now it is among India’s largest online retailers with reported sales of Rs 75 crore for year 2011-11. Sachin Bansal and Binny Bansal both are alumni of Indian Institute of Technology Delhi who started this company after quieting their jobs in Amazon.com with a vision “To be one of the largest multi-category e-commerce destinations in India, with a strong focus on customer service”
In its initial years, Flipkart focused on online sales of books but it later expanded to electronic goods and a variety of other products. According to the co-founder Sachin Bansal, “We started with books because they are comparatively easy category products to sell online. They do not require huge inventory maintenance, are easier to negotiate supplier terms and profit margins are high.” Also since books are low value items, inducing customer trial was easy. It was a safe option to start off with books, given their appreciation in e-commerce the world over. Now Flipkart have about 11.5 million book titles, 11 different categories, more than 2 million registered users and sale of 30000 items a day which makes it India's answer to Amazon. All this was possible because of the major goal of the company is to provide a memorable online shopping experience to their customers so that they come back again and again using innovative services like Cash on Delivery, a 30-day replacement policy, EMI options, free shipping , discounted price and very...
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