Marketplace Focus: Flipkart & Myntra
Today, as part of Pentagon’s marketplace focus series, we are introducing leading Indian marketplace, Flipkart.
Launched back in 2007, Flipkart prides itself on being India’s first billion dollar ecommerce company, and the leading marketplace in India, with over 30 million products across 70 different categories.
In 2014, Flipkart enjoyed over 15 million customers, more than 28 million users and featured over 10,000 brands, offered by 25,000 merchants.
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 online retailer.
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 developing ecommerce market in the Asia-Pacific region and is also one of the fastest growing consumer markets across the entire continent!
Driven by the healthy economic growth, increased internet penetration and rising disposable income of Indian consumers, online sales are expected to hit the impressive $20 billion by the end of the year.
With Indian shoppers’ demand for international products rising and their growing confidence in purchasing from foreign retailers, cross-border trade is a key factor that will increasingly shape the ecommerce landscape in country.
Mobile also plays an important role in the Indian ecommerce market, having grown by 100% over the last two years, and as much as 70% of all Indian online shoppers are expected to purchase from mobile over the next few years.
It is no surprise, then, that online retail in the country is set to reach $50 billion by 2016, while the number of online shoppers is projected to top 41 million by the same year.
What does Flipkart’s offering include?
With more than 40% share in the Indian market and over 23 million unique visitors per month, Flipkart provides international retailers with a lucrative channel to reach India’s vast consumer base.
To provide a hassle-free selling experience for retailers, Flipkart also offers one of the largest logistics networks in the industry, state-of-the-art fulfilment centres and a Seller Protection Programme that safeguards merchants from losses.
How to get started on Flipkart
You can of course sign up as a seller directly on Flipkart, however, you will need to invest time and resources in capturing the specifics of the local market.
Alternatively, as market leading experts in global online marketplaces, Pentagon can fast track your international growth by setting-up and managing your store directly on Flipkart.
Pentagon will provide a technical advisor to manage the integration between your brand and Flipkart, an account manger to oversee the day-to-day running of your branded store, optimise product titles and boost sales through platform deals, a translations service to align all product descriptions and titles with local language nuances, and customer services support to ensure the expectations of local shoppers are met.
Talk to a member of the Pentagon team today to find out how they can increase your international sales! Email: email@example.com, call: +44 (0)20 8940 5392 or visit their website at: wearepentagon.com.