What are Flipkart’s ecommerce ambitions?
Flipkarts aims to become the ‘biggest ecommerce platform’ in the country with a goal of doubling its user base to 1 billion in the next five years.
The company is launching a new product, the ecommerce vision, aimed at providing a more seamless shopping experience for customers.
The vision has a goal to “enable merchants to leverage the platform to build brand identity and offer more compelling services to their customers.”
“It’s not just about the customer.
We want to build a seamless experience for the merchant,” says CEO Rohit Bansal.
“What we have done is we have taken the best parts of ecommerce and made them accessible for merchants and consumers.
We are taking the best of e-commerce and making it accessible for consumers.
Our vision is that ecommerce will become a part of the Indian economy, that’s what we have decided to do.”
Bansal says that Flipkars vision is to become a global ecommerce giant by 2022.
“We will bring all the best features that e-tailers have and create a platform that will be as accessible as e-books are for consumers.”
This vision will come at a cost.
According to a report by Mint, the cost of eCommerce vision will be Rs 2,500 crore per year.
This is just to keep up with the growth of ebay.
Flipkarns current revenues of Rs 2.5 lakh crore were just $8 million in the last quarter.
This will drop to $5.5 million in 2019-20.
The cost of the vision is expected to be around $8.25 million per year, if it is to be completed in 2022.
With ecommerce coming to India, it will be interesting to see how it fares with ecommerce.
The country is looking at an opportunity for Flipkarma to compete with Amazon, Ebay and other major players.
The ecommerce world is a very different place than it was a few years ago.
The competition is intense, and it will become increasingly so as ecommerce becomes more popular.
It is not just ecommerce that is at stake.
The internet of things is growing and the e-retail market is also getting bigger.
If ecommerce does not take off, it is going to affect the entire e-marketplace.