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Flipkart (b 255)
- 2. Flipkart was foundedin 5 September 2007by Sahin Bansal and Binny Bansal. The business was formally incorporated as a company in October 2008 as Flipkart Online Services Pvt. Ltd. It operates exclusivelyin India, where it is headquarteredin Banglore, Karnataka, though Flipkart is actually registeredand basedin Singapore. During its initial years, Flipkart focusedonly on books. The first product sold by themwas the book Leaving Microsoft To Change The World, bought by VVK Chandra fromAndhra Pradesh. History of Flipkart
- 3. Promoters of Flipkart Founder :- Sahin Bansal , Binny Bansal. Sachin and Binny graduated fromIIT-Delhi with a degree in Computer Engineering. In 2006 they joinedAmazon.comin India which they later left to set-up Flipkart. AsCEO, Sachin oversees all the customer facing activities of the company ranging fromtechnology to marketing. Binny oversees all operational activities that come into play fromthe time the customer places an order till the time of delivery.
- 4. What does flipkart sell? Flipkart deals in following items:- Electronic Mobile, TV., laptop, software, hardwareetc… Men Footwear, clothing's, Sunglasses etc… Women footwear, clothing's, sunglasses, beauty productsetc… Baby & kids Kids footwear, baby diapers, kids clothing, kids sunglasses etc… Books & media E-books, E-games, Movies & TV. Shows etc…
- 5. Initially funded by the Bansals themselves with4 Lakh(INR). Flipkart has since then raised tworounds 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. FUNDING
- 6. Pricing policy Price of the product taking account of various expenses suchas Supplier expenses, Transportationexpenses, Packaging expenses, Shipping expenses, Courier expenses, inventorymaintenance expense, office and stationery expenses, sales and advertisement expenses, taxes, depreciation, discount allowances and many more expenses. Roughly about 5-7%profitper book orders whichindicates that generation of revenue is on volume basis. Discounts up to 35%acrossall categories. Upper edge in competitivepricing. Special discount for loyal customers and regular buyers. For expensive products transit cost is borneby company. Maximumdiscounts in theoccasional time likeDiwali, Eid etc.
- 7. Brands Available with Flipkart Flipkart deals with following brands Clothing Footwear Jewllwry Computers Pen & Stationary
- 8. Payment Flipkart allows payment methods such as:- cash on delivery.,.. Credit or Debit cardtransactions… Net Banking… E-Gift vouchers… Cardswipe on delivery… EMI wallet
- 9. As on datemore than80% orders of Flipkartare handled via warehouses whichhelp in quickand efficient service. We deliver orders in 1 day in Tier-I cities and 2-3 days in Tier II cities and 3-5 days Tier III cities Shipping and Courier would act as intermediaries in this process. Delivery services throughe-kart and postal services Tie ups withlocal vendors and courier firms (thereby avoiding octroi charges) Company owned warehouse in major cities near airport Trying to achieve minimumreturns If the courier can‘t delivery to thelocationtheproductis shipped through government post Delivery machanism
- 10. Flipkart follows a 30 day return policy. Return of a product to Flipkart can happenif the 3rd party cannot deliver to the address or the customer does not accept the product. Some orders are cancelled while the delivery is beingprocesses by the courier company. Such orders are not recalled but delivered to the address and thencancelled. Customers can call the customer support andcourier back the product to Flipkart. The delivery cost is borne by Flipkart. Whena customer requests returnof a product, there are 3 paths this request can take: 1. Replacement: Flipkart returns the product to the supplier and obtains a replacement that is deliveredto the customer. 2. Store credit: If the customer is not satisfiedwith the product, he or she is givenstore credit of the same amount. 3. Actual cash-back: Givenout as cash for cash-on-delivery payment or refunded for online payment. Return policy
- 11. Product line on Flipkart.comhave warranties as promised by thebrand of the product if applicable. E.g., Bajaj MX 2 1200 WattsIron with 2 Years Bajaj India Warrantyand extra paid warranty forthe particular brand is available if applicable. 30-day replacement guarantee for faulty products. Warranties by Flipkart
- 12. Flipkart has offices, warehouses andcustomer service centers across India. Warehouses are located in the following cities, often near airports. Bangalore Chennai Delhi Hyderabad Mumbai Noida Pune Kolkata Offices , Warehouses of Flipkart
- 13. Customer Support functionfor an e-commerce websiteis oneof the most importanttouch- pointsfor the business in terms of building trust, customeracquisition and maintaining customerloyalty. Flipkart‘sCustomerSupport teamconsistsof call-centreagents who handlein-bound and out-bound calls and also a team that handlese-mail queries. Flipkartprefersto trainits ownsupport staff ratherthanoutsourcing the functionto a BPOagency. Flipkarttries to ensure that any order is placed within6 clicks on the website. Thereis also an outboundcall-centrethat performs the following tasks: Pro-activelyinformcustomersabout any delayin deliveries. Pro-activelycheck the statusof refunds or returns. Inform the userin case anydeliveryhas not been successful due to the customer not being present at his address.
- 14. Acquisitions 2010 : WeRead, a social book discovery tool. 2011 : Mime360, a digital content platformcompany. 2011 : Chakpak.com, a Bollywood news site that offersupdates, news, photosand videos. Flipkart acquired the rightsto Chakpak's digital catalogue which includes 40,000 filmographies, 10,000 moviesand close to 50,000 ratings. 2012 : Letsbuy.com, an Indian e-retailerin electronics. Flipkart has bought the company for an estimated US$25 million. Letsbuy.com was closed downand all traffic to Letsbuy has been diverted to Flipkart. 2014 : Acquired Myntra.comin an estimated INR 2,000crore deal.
- 15. Major competitor of flipkart
- 16. Website is great, easy to use, easy to browse through theproducts, add products to wishlist or to a cart, get productreviews and opinions, pre-order products, make convenientpayments using different methods and better Search EngineOptimization. Usability of Flipkart
- 17. Word of mouth(initial marketing evennow theywant to satisfycustomer so they come back for more) Good use of SEO Good use of SEM Ads at proper places and use pay per click to pay for ads Veryeasy web interface Paymentconvenience Cash/card on delivery EMI –by targeting price sensitive customers Customer conversion rateis so highmore than70% Personalizationof the user page Product recommendation withyour previous purchases Marketing stratagies
- 18. Own website www.flipkart.com On facebook www.facebook.com/flipkart On HT-Media www.hindustantimes.com/flipkart On Twitter www.twitter.com/flipkart Presence on social sites
- 19. The companyhad its own warehouses, and maintainedits own inventory. In July 2013, Flipkart launched its model of marketplace just one month after Amazon launched its marketplace in India. It introduced payments brand PayZippyfor online merchants and customers seeking fast, hassle-free and safe payment options. Some 70 per cent of its shipments are done by its own logistics company and about half of deliveries are on a cash-on-deliverybasis. Flipkart has recently introduced thenext day guaranteedelivery service and shopping fromits own mobile application. Improvement by flipkart
- 20. Future Road Map They aimat 10 times growthand eyes at $ 1Billionsales by 2015 . They will look at bigger investments in their supply chain and technology. Investmentwill be made in large warehouses and increased automationof their process, so that the product is not delayed. They intend to enter in to various new categories and expand their current categories as well. Everything except for groceries and automobiles will be available on Flipkart in future. To go further in the value chain, Flipkart is looking at associations with a larger number of suppliers and partners, both nationally and internationally.
- 22. THANK YOU...