Senior Correspondent, IndianRetailer.com & Retailer Magazine Jul 03, 2018 / 2 MIN READ
Online marketplace Flipkart has registered surge in its gross merchandise value (GMV) almost a month after Walmart acquired 77% stake in the company. As per the leading media resources its GMV surged 51% to $6.2 billion in 2017-18, which Flipkart expects to nearly triple to $17.6 billion in 2020-21.
On other hand, as per the report published by Citi Research Amazon India is expected to reach $17 billion in GMV in 2020 and $23 billion in 2021.
Flipkart has registered a sharp decline of 11% in its GMV during 2016-17 from a 69% jump in the year before, as the domestic ecommerce industry went through a slump.
To achieve the projected GMV Flipkart is betting big on certain categories including phones (expected to contribute about 45%) closely followed by large appliances category and fashion respectively. The company would also be bullish on recently included grocery category and expected to clock around $1 billion.
According to a recent Forrester report, Flipkart’s standalone market share was estimated to be 31.9% at the end of 2017.
Leveraging local consumer insights, the fulfillment center will offer a wide variety of locally popular brands such as Freedom, Heritage and categories like dairy, eggs, chocolates, staples, cleaning aids and more.
Flipkart will provide users with access to over 1 million bus connections, spanning more than 25,000 routes nationwide.
These efforts have led to a reduction of over 14 million liters of freshwater consumption and a 30 percent decrease in the average LPCD (liter per capita per day) across all four facilities.
Initially available for Android users, customers can register for UPI with @fkaxis handle and perform fund transfers and checkout payments using the Flipkart app.
Copyright © 2009 - 2024 Franchise India Holdings Ltd