Marketplace Focus: Flipkart & India
India is the 2nd most populous country in the world, after China, and according to Alexa rankings, Indian marketplace Flipkart is amongst the top five most visited websites in the country.
Launched back in 2007, Flipkart prides itself on being India’s first billion dollar ecommerce company, and the leading ecommerce marketplace in India, with over 30 million products across 70 different categories.
Although Flipkart’s initial offering was focused on consumer electronics, the company’s presence in the fashion category was strengthened in 2014 after acquiring Myntra.com, a highly successful Indian fashion e-tailer.
Consumer electronics are still a major player for Flipkart, accounting for 34% of the company’s GMV, but the marketplace is keen to further develop its fashion credentials through new acquisitions, as the ‘apparel’ category now accounts for 30% of all Flipkart’s sales.
The Indian Ecommerce Opportunity
India is the fastest growing ecommerce market in the Asia-Pacific region! Driven by the increased internet penetration and rising disposable income of Indian consumers, online sales are expected to hit $20 billion by the end of the year.
Mobile also plays an important role in the Indian ecommerce landscape, with seven out of ten shoppers expected to purchase from mobile in the next few years.
So, it is no surprise that online retail in the country is set to reach $56 billion by 2023, while the number of online shoppers is projected to top 41 million by 2016.
Meet Flipkart at Fashion Without Borders
We’re looking forward to providing you with more information on Flipkart after Fashion Without Borders, but if you want to meet them directly, then Smrithi Ravichandran, Flipkart’s Director, will be speaking at the event. She will be available to answer direct questions and will provide more information about the online opportunities in India.
Fashion Without Borders is on Thursday 17th September in central London. To attend you’ll need to register soon, as places are filling up quickly! You’ll be joining over 200 retailers who have already confirmed their attendance, including the likes of Debenhams, Next, New Look, Marks & Spencer and Asda.