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Mis report on flipkart.com

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    Mis report on flipkart.com Mis report on flipkart.com Document Transcript

    • INSTITUTE OF TECHNOLOGY & MANAGEMENT, NAVI MUMBAI A Report on Working of E-Commerce WebsiteFlipkartSubmitted To : Submitted By :Mrs.SoumyaGroup No. 3Bhuvan Arya 88Amit Sharma 80Deepak Khuntwal 248Rahul Hedau 73Kumar Anupam 63Anoop Shet 62
    • ABOUT FLIPKARTFlipkart was launched in 2007 with the objective of making books available to everyone whohad internet access.Along with time, it later diversified across various categories includingmovies, music, games, mobiles, cameras, computers ,healthcare and personal productshome appliances and electronics.Flipkart is also the largest online book store in India, with over 11.5 million book titlesavailable. Currently, Flipkart has registered sales of nearly 2.5 million items across allcategories and sells more than 20,000 units per day or 14 items per minute.With path-breaking features like Cash/Card on Delivery, 30 Day replacement policy and EMIoptions, Flipkart has now made it possible for anyone across the country with internetaccess to shop online.The Flipkart experience is characterized by the intuitive user interface, free shipping and lowprices.As a testimony to the superior customer experience, the company has consistently recordedrepeat purchase rates of more than 70%. Backed by a significant funding of $31 million, Flipkart is rapidly expanding its network ofwarehouses, distribution centres, procurement operations and 24/7 customer supportteams.The company even has its own delivery network in 13 cities and is set to expand this to 25cities by next year. With a team of around 2500 members, the company operates fromoffices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.Flipkart At A Glance :- In Top 30 Webites in India Today. Type of Business : Online Shopping (E-Commerce) Founded By : Sachin Bansal & Binny Bansal No of languages available : Multilingual No of Books Available : 11,50,000 No of visits every month : 8,00,000 Current team strength : 4,500 No of items shipped per day : 30,000 No of cities under coverage : 27+ Cities Annual Revenue : 75 Crore (2010-11)
    • An Introduction to Management Team :- Mr Sachin Bansal (CEO & Co-founder): Sachin spent his early years inChandigarh. He graduated from IIT-Delhi with a degree in Computer Engineering. In 2006 hejoined Amazon.com in India which he later left to set-up Flipkart.As CEO, Sachin oversees all the customer facing activities of the company ranging fromtechnology to marketing. He is also in charge of Flipkarts corporate divisions which includethe finance and legal departments. An avid gaming enthusiast, Sachin likes to spend most ofhis free time with his family. Mr Binny Bansal (COO & Co-founder):Born and raised in Chandigarh, Binnywent on to get a degree in Computer Engineering from IIT Delhi. He had a brief stint atAmazon before taking the entrepreneurial plunge with Flipkart.At Flipkart, Binny oversees all operational activities that come into play from the time thecustomer places an order till the time of delivery. This spans across divisions likewarehousing, logistics and customer support.Other Key Executives: Mekin Maheswari (President, Technology): Mekin completed his B.E. fromPESIT Bangalore in 2002. He started his career with Yahoo! and then went on to join Ugeniewhere he created weRead, a successful social network around books.At Flipkart, Mekin is responsible for overseeing the company’s technological operations.These include innovation and application of technology in areas starting from supply chainto website management.
    • Sujeet Kumar (President, Operations): Sujeet completed his engineeringfrom IIT Delhi. He worked in the KPO industry and orchestrated several freelance projectsbefore joining Flipkart in 2008.At Flipkart he is responsible for overseeing supply-chain, warehousing and logistics. He isalso in charge of business development for all categories.How it all Started:-1) Founders: The founders of the company Sachin Bansal & Binny Bansal worked forAmazon.com before quitting and founding their own company. Initially they used ‘word ofmouth’ marketing to popularize their company. A few months later, the company sold itsfirst book on flipkart.com - John Woods-Leaving Microsoft to change the World per Alexatraffic rankings, Flipkart is among the top 30 Indian web sites and has been credited withbeing Indias largest online bookseller with over 11 million titles on offer. Flipkart brokeeven in March 2010 and claims to have had at least 100% growth every quarter since itsfounding.2)Acquisitions :- Initially funded by the Bansals themselves with Rs 4,00,000, Flipkarthas 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$20 million or Rs 100 Crore) in 2010.A REVIEW OF SERVICES & PRODUCTS OFFERED BY FLIPKART :-A)What they do right:- User Interface:Flipkart has a wonderfully simple user interface that allows loads quickly, and offers a ‘lite’ version for slower internet speeds too, rather than the flash heavy interfaces of other e-Commerce websites, that improves the customer experience on the website.
    • Cash on Delivery, EMI, and 30 day guarantee: The varied payment schemes provided by the site like Cash on Delivery, EMIs and the 30 day guarantee scheme for products go a long way in countering the general tendency of the Indian Consumer to shop in traditional shops than online. Payment Interface: Rather than going in for the confusing CCAvenue payment gateway that most e-Commerce websites opt for, Flipkart has a much more reliable Axis Bank Payment Gateway that is easier to use. Variety: The most important thing for a book store is the variety. A consumer who finds a rare title is definitely bound to return back to the website for further orders, and Flipkart with their variety have gone a long way in ensuring this. Deliveries and packaging: Flipkart is renowned for its prompt deliveries within the promised deadline, and most of the time delivers earlier than promised. It is this customer focused approach that has helped Flipkart keep their noses ahead of the competition. Customer Service: Flipkart’s business model is based on repeat purchases and retaining customers and has built a highly responsive customer service team that responds to all queries within 24 hours. Their active presence on Social Networking sites and ensuring timely deliveries, with a smile, go a long way in ensuring success of their business model.B) THE DOWNSIDE OF BUSINESS OFFERING:- Search feature: The search feature on the website allows only a basic search, and not an advanced option that allows you to search by author name or ISBN etc. This proves to be a hassle when the name of the book is a common name. Categorizing:Though Flipkart has a visible ‘category’ wise catalogue for their books, it becomes pretty apparent that most of their titles are not properly catalogued. Buying in book shops generally happens when the customer spots the book in a particular category and gets interested in it, despite not having known the book previously. Flipkart’s poor cataloguing eliminates the opportunity of such buys.C) THE SCOPE FOR FUTURE DEVELOPMENT AT FLIPKART:- International Shipping: A logical step ahead is to move into the sphere of international shipping – initially with Srilanka and Bangladesh, and start competing with their big brother, Amazon.
    • Widening of Range in some product categories: There is an obvious scope for improvement in the product variety in some of the newly launched product ranges. Customised products and Gifts: One area where Infibeam.com, a competing company scores over Flipkart is their customised gifts through PicSquare. Though Flipkart offers an option of a gift wrap and a personal message for a nominal charge, the service is not quite apparent for first time users. Customized products and gifts is another area where there is scope for future development. Same-day-Shipping: Flipkart could have different versions of their website based on the location of the customer that offer different shipping times for their products. Some of the bigger cities could soon be equipped with same-day shipping considering that Flipkart has a strong in-house logistics service. Product Pages: Flipkart could look at having better product pages for individual items. Some items like a Cell phone or a camera or a Microwave oven would be better projected with a 360 degree image viewer. This would offer a more intuitive view for the consumers than the photographs that are on display now. Flipkart could also look to develop their product pages in a better manner than they are right now, with lesser unnecessary data being displayed. Customised Delivery Dates: As an extension to the gifting service, Flipkart could look at offering customer chosen delivery dates for the same, beyond a threshold date that Flipkart can provide.CONCLUSION:- On the whole, Flipkart, through its methodical approach of expansion of product categories, rather than starting off as a Jack of all trades is slowly emerging as the Amazon of the Indian e-Commerce arena. With a strong logistics and customer focused approach, Flipkart is slowly taking steps into becoming a giant in the e-Commerce space. Future scope for development includes wider range of products and international shipping etc. REASONS FOR SUCCESS OF FLIPKART:- 1) In the traditional way, Flipkart also started selling books online as many e-commerce startups have done, for the simple reason that supply chain dynamics and payment cycle suits best. So Flipkart scaled the cash on delivery system to retain customers. Pricing right is also important. 2)To scale sales, one method Flipkart bets is on increasing order value per customer by offering the customer more selection and relevant uptakes. Giving reason to come back is very important. The one fix Flipkart has done successfully was building its own delivery in 30
    • cities after finding that once an item leaves the warehouse, the affiliate courier companiesdid not deliver to customers. The pilot in Bangalore helped find repeat customers to theextent of 50%. By 2012, more categories will be added to Flipkart.3) A misstep that Flipkart took was betting on B2B sales for books. The assumption was thatlibraries and universities will buy in bulk. It turned out that the bulk buyers would dictateterms and so it quickly turned to scale B2C channel, which has proved to be successful.Scaling technology is also important to cater to growing demand.INTERESTING THINGS ABOUT FLIPKART BUSINESS MODEL:- In other words, 20 products per minute. Clocking daily sales of Rs.2.5 crore ($ 0.5 MN). Growth rate has been 100 percent quarter on quarter According to Sachin Bansal, CEO of Flipkart. The interesting part is that around 60 percent of Flipkarts orders are cash or card on delivery. The cash on delivery service has helped a lot of traditional consumers turn to online shopping. The model has unbolted the lock to a whole new customer base which hasnt been exposed to the benefits of plastic money as yet or those with a default technological handicap. From browsing to delivery, you can track your order. You can pre-order an unreleased book, get good prices, even the customer service is very strong. Raise any issue, its efficiently resolved. Flipkarts biggest draw has probably been the huge discount it offers -- much to the envy of offline stores. Though all bookstores get up to 50-60 percent discounts from publishers, the low overheads -- one of the numerous virtues of online stores -- enables Flipkart to pass on the savings in the form of discounts. Flipkart started with books, but now deals in 12 product categories. As per data, we have 80 percent share of the online book market, according to Flipkart CEO. India is a huge market, there is much scope for online e-stores in future. According to an Associated Chambers of Commerce and Industry of India (Assocham) survey, the online retail market in India may grow to Rs.70 billion (over $1.30 billion) by 2015 from Rs.20 billion in 2011 as internet access improves.THREATS:-Flipkart works because of discounts. Amazaon can offer greater discounts as itcan take bigger losses being a bigger company. That will change the dynamics.A LOOK AT SOME OF THE LAYOUTs OF FLIPKART WEBPAGES :-
    • a. Red Arrow: - Product categories offered by flipkart such as books, mobiles TV, Videos & MP3 Players etcb. Blue Arrow: - Category of books according to their popularity offered for a quick look & selection by Flipkart.c. Green Arrow: Scope for customization for the customer better search results and filtered display of results.
    • a. Red Arrow: Access to books according to their category, portioning the lot of books on offer by the nature of the content.b. Blue Arrow: Top new releases of books by flipkart.com displayed in the form of a list at one go, to update the user & maintain his curiosity by displaying all the new releases at one go.c. Black Arrow: Option of multiple buy at one time through Digital Cart system where a user can add design add or pare down his purchases and have a look at it before the final buy.d. Green Arrow: Option of buying the book now by making the payment online.
    • a. Black Arrow: Option to buy electronic products and at a never before discount more than retail discount.b. Red Arrow: Safe & secure shopping maintaining the privacy & security requirement of online shopping.c. Green Arrow: 30 days replacement guarantee which gives a sense of confidence to customers.d. Blue Arrow: The provision for customer care support service.