flipkart - the online megastore

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flipkart - the online megastore

  1. 1. WE ALL LIKE SHOPPING
  2. 2. & WE ALL LIKE THE INTERNET
  3. 3. PUTTING THE GETHER (SHOPPING+INTERNET)=?
  4. 4. ONLINE SHOPPING=FLIPKART
  5. 5. FOUNDERS SACHIN BANSAL & BINNY BANSAL
  6. 6. INTRODUCTION FLIPKART IS AN INDIAN E-COMMERCE COMPANY HEADQUARTERED IN BANGALORE, KARNATAKA. IT WAS FOUNDED BY SACHIN BANSAL AND BINNY BANSAL IN 2007. IN ITS INITIAL YEARS, FLIPKART FOCUSED ON ONLINE SALES OF BOOKS, BUT LATER IT EXPANDED TO ELECTRONIC GOODS AND A VARIETY OF OTHER PRODUCTS. FLIPKART OFFERS MULTIPLE PAYMENT METHODS LIKE CREDIT CARD, DEBIT CARD, NET BANKING, E-GIFT VOUCHER, CASH ON DELIVERY AND CARD SWIPE ON DELIVERY.
  7. 7. THEN & NOW  Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com before quitting and founding their own company.  Initially funded by the Bansals themselves with Rs. 4,00,000. In its initial years, Flipkart focused on online sales of books.  Today , Flipkart is amongst the top 20 Indian Web sites and has been credited with being India's largest online bookseller with over 11 million titles on offer.  In 2012, Flipkart added A.C, air coolers, stationery supplies & life style products to its product portfolio.  As of today, Flipkart employs more than 4,500 people.
  8. 8. THE BEGINNING They are originally from Chandigarh. They are not related in any way, it just happens to be a coincidence that they are now working on Flipkart together. They both grew up in Chandigarh and went to the same schools yet did not know each other well. They went to the Indian Institute of Technology in Delhi, where they studied computer science, and that is where they really got to know each other because they were studying computer science together. They graduated from IIT in 2005, and took different jobs in Bangalore. However, their paths converged again in 2006 when they both joined Amazon.com India. Amazon was building Amazon Web Services ,which is very big now. They built things like Amazon S3. Their services have powered more than half of the start-ups in the United States.
  9. 9. RISKING IT ALL ON THE LINE There was huge risk taken by both the Bansal's as both of them got a high profile job in the worlds biggest e-commerce website named Amazon. Leaving Amazon to start their own company with just Rs. 4,00,000 involved a huge risk as there was no guarantee that their idea would succeed or not. It was result of this risk taking only that today Flipkart generates Rs 1.5 Crore a Day. It has a record user base of 1 Million in India only.
  10. 10. ENTREPRENUAL QUALITIES SELF-MOTIVATED SUCCESSFUL ENTREPRENEURS DO NOT NEED SOMEONE WHO HOLDS THEM ACCOUNTABLE OR FORCES THEM TO BE EFFICIENT AND PRODUCTIVE. THEY ARE INTUITIVE THEY CREATED THEIR OWN PATH WITH THEIR INTELLIGENCE, CREATIVITY AND INTUITION. BUSINESS MODELS ARE CONSTANTLY CHANGING. CONSEQUENTLY, THE WAY BUSINESS OWNERS MARKET AND GROW THEIR BUSINESS CONSTANTLY CHANGES. THE MOST SUCCESSFUL ENTREPRENEURS UNDERSTAND HOW FAST CURRENT TRENDS CHANGE. MORE IMPORTANTLY, HOWEVER, THEY KNOW HOW TO KEEP UP WITH THE CHANGES.
  11. 11. THEY ARE STRONG-WILLED THEY STARTED THEIR BUSINESS WITH A VISION - A DREAM. THEY ACTED ON THEIR DREAM BY TAKING SMALL STEPS TOWARDS ACCOMPLISHING THEIR GOALS. WITH EVERY STEP, ENTREPRENEURS GET CLOSER TO ATTAINING THEIR ULTIMATE GOAL OR VISION. HOWEVER, NOT ALL STEPS ARE EASY TO TAKE. UNFORTUNATELY, NOTHING WORTH FIGHTING FOR IS EASY TO ATTAIN. SUCCESSFUL ENTREPRENEURS ONLY MADE IT PAST THE DIFFICULT TIMES BY BEING STRONG-WILLED. THEY NEVER LET PESSIMISM, DIFFICULTY OR ANY OTHER PROBLEMS STAND IN THEIR WAY. OPTIMISTIC A POSITIVE OUTLOOK IS ESSENTIAL FOR THE ENTREPRENEUR, WHO LEARNS TO SEE SETBACKS AS BARGAIN PRICED TUITION FOR THE VALUABLE BUSINESS LESSONS GAINED THROUGH FIRSTHAND EXPERIENCE. PAST SHORTCOMINGS, FAILURES, OR DISAPPOINTMENTS ARE RELEGATED TO THE PAST SO THAT THEY CANNOT CONTINUE TO HAUNT THE PRESENT OR OBSTRUCT THE FUTURE.
  12. 12. TEAM PLAYER TEAM PLAYERS KNOW HOW TO SUCCEED BY EMPLOYING THE PHYSICS OF INTERPERSONAL SYNERGY AND DYNAMIC RELATIONSHIPS. ONE TWIG CAN BE EASILY SNAPPED, BUT A BUNDLE OF THOSE SMALL TWIGS BECOMES STRONGER THAN THE SUM OF ITS INDIVIDUAL PARTS AND CAN BE IMPOSSIBLE TO BEND, MUCH LESS BREAK. THE SAME GOES FOR BUSINESSES, AND SUCCESSFUL ENTREPRENEURS LEVERAGE TEAMWORK TO GET THE HEAVY LIFTING DONE WITHOUT BREAKING STRIDE. PASSIONATE ABOUT LEARNING ENTREPRENEURS ARE OFTEN “AUTODIDACTIC” LEARNERS, WHICH MEANS THAT MUCH OF WHAT THEY KNOW THEY LEARNED NOT IN A FORMAL CLASSROOM SETTING BUT INSTEAD ON THEIR OWN BY SEEKING OUT INFORMATION, ASKING QUESTIONS, AND DOING PERSONAL READING AND RESEARCH. THEY ALSO ARE QUICK TO LEARN FROM THEIR OWN MISTAKES, WHICH MEANS THEY ARE LESS PRONE TO KEEP REPEATING THEM
  13. 13. INNOVATION FLIPKART BROUGHT MAY REVOLUTIONARY INNOVATIVE IDEAS TO MAKE ONLINE SHOPPING MUCH EASIER AND FUN THAN IT WAS A FEW YEARS BACK. SOME OF THESE INNOVATIONS ARE :-
  14. 14. DELIVERY WITHIN 2 DAYS  The first few e-commerce web sites broke the trust of many Indian customers by not delivering the order product on time.  Flipkart realised this problem and in order to bring the customer back to on line shopping it came up with idea of delivering the product in 2 days & if there is a delay then the customer is paid interest on the value of product.
  15. 15. 30 DAYS RETURN POLICY  In order to satisfy the Indian customer after the product is delivered flipkart came up with idea of providing 30 day return policy.  This is done to ensure that the product delivered to the customer is not faulty.
  16. 16. Card Swipe on Delivery  Flipkart realised that most of Indian customers are not comfortable sharing there credit card details online. As there is always a risk of fraud.  For solving this problem it came up with the idea of card swipe on delivery i.e- the delivery guy brings the card swipe machine so that all the transaction happens before customer.
  17. 17. BROWSING- MADE EASY http://www.flipkart.com/
  18. 18. COMPARISON-MADE EASY http://www.flipkart.com/mobile/compare?ids=MOBDKVGZUEGRAYZD,MOBDHM YXDFYCZCVC,MOBDH2XTNHMHA6BU,MOBDGPDZ5BRABR2W
  19. 19. PROMOTIONAL TECHNIQUES ADVERTISING
  20. 20. SALES PROMOTION techniques like ---  Rebate  Discounts  Refunds  Quantity deals/gifts  Usable benefits  Full finance @ 0%
  21. 21. BUSINESS RESULTS  In FY 2011–2012, Flipkart crossed the INR5 billion (US$100 million) mark as Internet usage in the country increases and people get accustomed to making purchases online. Flipkart projects its sales to reach INR10 billion by year 2014. On average, Flipkart sells nearly 20 products per minute and is aiming at generating a revenue of INR50 billion (US$1 billion) by 2015.
  22. 22. Low prices in comparison to others  Flipkart directly buys its products from various companies and sell these products to the customers. This way the cost of middle men reduces and the company is able to sell its products at much more cheaper rates than others.
  23. 23. Acquisitions  2010: WeRead, a social book discovery tool.  2011: Mime360, a digital content platform company.  2011: Chakpak.com is a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name.  2012: Letsbuy.com is India's second largest e-retailer in electronics. Flipkart has bought the company for an estimated US$25 million. Letsbuy.com had been closed down and all the traffic of Letsbuy is diverted to Flipkart.
  24. 24. Products DigiFlip Flipkart has launched its own products range under the name DigiFlip, offering camera bags, pen-drives, headphones, computer accessories and a lot more. They are eventually expanding the range. Flyte Digital Music Store In February 2012, the company revealed its new Flyte Digital Music Store.Flyte, a legal music download service in the vein of iTunes and Amazon.com, offered DRM-free MP3 downloads. Flipkart listed the music based on its genre on the new music store and provided a lot of variety. Users could shop for tracks from various albums starting at INR6 on the store.
  25. 25. A PIECE OF ADVICE FROM THE ENTREPRENUR  The biggest advice I have given to entrepreneurs is not to start alone. I always tell them to find a co-founder with whom they have good chemistry and with whom they share similar goals and vision for the venture.  Having a cofounder helps get through the ups and downs of starting up. A shoulder to cry on. A cofounder is a person who can hold you together. We were a small company growing rapidly in a new industry. There are mistakes we have made.  We did not blame each other when we made these mistakes.
  26. 26. THE END
  27. 27. CREDITS  FACTUAL CONTENT PROVIDER ---- AMOGH 2012  PRESENTATION DEVELOPED&DESIGNED BY ----- PARAS 1993  PRESENTORS ----- JAYESH 1973  AMOGH 2012  CHIRANJIT 2007  CHETAN 1996  NIKHIL 1982  PARAS 1993

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