Is Flipkart in profit or loss in India?
E-Commerce Key Figures of E-Commerce
Premium Premium statistics Industry-specific and extensively researched technical data (partially from exclusive partnerships). A paid subscription is required for full access. Flipkart Private Limited reported a loss of over 39 billion Indian rupees in the financial year 2022 in India, compared to a loss of over 24 billion Indian rupees in the previous financial year.
Who is the biggest competitor of Amazon in India?
Flipkart. – Flipkart is a newer ecommerce company compared to some of the other competitors on our list. This Indian-based ecommerce platform was founded in 2007 and quickly became the largest online retailer in India. In 2018, Walmart acquired 77% of Flipkart’s shares, valuing the company at $22 billion.
Is Flipkart doing well in India?
NEW DELHI: Walmart ‘s top leadership expressed optimism about the company’s India opportunity and said that both the Flipkart and PhonePe businesses are doing well. In its Q1FY24 earnings statement issued on Thursday, the US-based retail giant said that the firm’s international net sales increased by 12% on a year-on-year basis to $26.6 billion during the quarter.
In constant currency terms, net sales in the segment stood at $26.8 billion during Q1, up 12.9% on a y-o-y basis. “In India, Flipkart’s commerce platform continues to scaleexpanding its reach in tier two and three cities. Flipkart’s ekart business now includes more than 35,000 kirana partners. The team continues to expand their products and services.
In India, Flipkart had strong topline results,” executive vice-president and chief financial officer John David Rainey during the company’s earnings call. The CFO said that the PhonePe business continues to deliver, having touched more than $1 trillion in annualised total payments value (TPV) during the quarter.
Rainey indicated that Flipkart is showing improvement in terms of all business metrics and has even helped bolster the retailer’s international advertising business during the quarter. “What we have seen in India is a build out of an ecosystem in its own rightbetween our tech capabilities, our sourcing capabilities, Flipkart and PhonePe, it is becoming a mutually reinforcing flywheel of strength for that market,” added Judith McKenna, president and CEO at Walmart International,
Expanding on the India scope, president and CEO Doug McMillon reiterated that Walmart has a big opportunity to increase its exports from the country across quite a few merchandise categories. “A group of us were there last week and we left even more excited about our opportunities,” McMillon said.
How much does a Flipkart seller earn in India?
Average Flipkart Seller monthly pay in India is approximately ₹ 21,858, which is 31% above the national average. Salary information comes from 6 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Why Amazon is so successful in India?
Conclusion – Amazon’s success in India is largely because of its strategy, innovation, customization and localization of its services and operations in India. Aggressive advertising might have also helped partly in promoting the Amazon brand in India.
Relaxation of laws around FDI and active push for cashless transactions by Government of India, along with rapid improvements in 4G network services and the telecom pricing war fuelled by Reliance Jio that resulted in increased affordability of smartphones and 4G internet in India have also played a significant, although indirect, role in Amazon’s success.
At the same time, Amazon’s rivals Flipkart and Snapdeal also faced some challenges. Flipkart was trying to move from retail to Marketplace, become a mobile-only platform and build a large advertising business, while Snapdeal struggled with lack of logistic services and high-quality customer service to compete against Amazon.
- In 2018, Flipkart was acquired by Walmart, which also resulted in some organizational and operational changes, which might have slowed down its growth.
- But as these competitors continue to resolve their internal problems and improve their services, they might again become a challenge for Amazon in future.E.g.
Flipkart has recently launched its loyalty service called ‘ Flipkart Plus ‘, and although it’s nowhere near the Prime benefits offered by Amazon, but it’s a clear indication that these companies continue to innovate and could again become a threat for Amazon in future.
- Although, it might take some time before they can pose a real challenge to Amazon.
- In any case, continued innovation, improvements in customer service, support for sellers, and more efficient use of AI and Machine learning seems to be the major factors for Amazon to ensure its long-term success in India.
Author Bio: Sumant Vidwans (BCA, MSc (CS), MCA), started his career in 2006 as a freelance writer & translator in India. He co-authored a book on Oracle RDBMS in Hindi (published in 2009) and has translated or edited more than 20 books in English, Hindi and Marathi.
- From 2011 to 2016, he also worked extensively with more than 100 translation agencies and companies around the world on localization projects for websites, software applications, mobile apps, games, user manuals and documents.
- Since 2016, he works full-time as a Language Manager for one of the world’s largest social media companies.
Before moving to the USA in 2017, he has lived in India and Singapore. He also holds a professional Certificate in Internationalization and Localization offered by University of Washington in collaboration with edX. Connect with Sumant: Connect with Sumant on LinkedIn Email: Sumantsumant.in This course helped me gain useful insights about Digital Marketing and Localization. If you are interested in learning more about the Global Digital Marketing & Localization Certification please click here, References:
https://www.aboutamazon.com/ https://www.aboutamazon.in/ https://en.wikipedia.org/wiki/E-commerce_in_India https://en.wikipedia.org/wiki/Amazon_(company) https://en.wikipedia.org/wiki/Flipkart https://www.forbes.com/sites/mohanbirsawhney/2018/04/30/7-ways-that-amazon-is-winning-by-acting-glocally-in-india/#5fae120261c1 https://www.livemint.com/Companies/zs1JqXLNTv7ML2xeE9joRL/The-rise-and-rise-of-Amazon.html https://hbr.org/2016/07/how-amazon-adapted-its-business-model-to-india https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/flipkart-is-no-1-in-india-but-faces-formidable-foe-in-amazon-say-experts-54083920 https://www.cnn.com/2020/01/15/tech/jeff-bezos-amazon-india/index.html https://www.internetlivestats.com/internet-users-by-country/ https://www.statista.com/topics/2157/internet-usage-in-india/ https://www.business.com/articles/10-of-the-largest-ecommerce-markets-in-the-world-b/ https://blog.aboutamazon.in/india-innovations/empowering-sellers-to-go-online-the-amazon-way https://services.amazon.in/resources/seller-blog/amazon-chai-cart-won-gold.html https://sellercentral.amazon.in/gp/help/external/help.html?itemID=201379690 www.flipkart.com www.amazon.in
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Which is bigger Alibaba or Amazon?
Amazon vs Alibaba: How Do The Compare? – You might be forgiven for thinking that due to the similarities between Amazon and Alibaba, and the fact that they’ve been trading for more-or-less the equivalent amount of time, that their current market capitalizations might have diverged to around about the same value.
- And yet they haven’t.
- When it comes to sheer size, Amazon is vastly larger than Alibaba.
- Amazon’s market-cap of $1.5 Trillion dwarfs Alibaba’s $640+ Billion, and when you calculate each firm’s revenue numbers, the disparity is even greater: Amazon had revenues of $126B from its last quarter, whereas Alibaba had $34B.
But this doesn’t tell the entire story. For example, Alibaba’s estimated Forward Price-to-Earnings ratio is far more favorable at 22x for the fiscal year, compared to Amazon’s equivalent period of 65x.
What company is bigger than Amazon?
Walmart – Moving closer to the discount department store concept, another great example of an Amazon competitor is Walmart, One of the oldest companies on this list, it was founded in 1962 by Sam Walton in Rogers, Arkansas. Amazon and Walmart are two of the biggest retailers in the US and are always in competition.
Which is the most sold Indian book?
1. The God Of Small Things by Arundhati Roy: – A debut novel by Arundhati Roy which is a modern classic and stands as one of the best celebrated Indian Novels on both the national and international platforms. The story revolves around two twins Estha and Rahel who lives in Kerala.
What is the benefit of Flipkart seller?
Your earnings don’t keep you waiting – Re-invest profits to generate more business without any delay. At Flipkart, you get your payments within 7-15 business days of dispatching an order. The payment is made directly to your bank account, thus making the whole process fast and easy.
Is the largest online store in India?
1. Amazon India – Amazon logo Amazon is the biggest online shopping platform in the world, and India is no different. With over 295.8M individual visits per month, Amazon serves a large audience to fulfill their daily needs. The website is a one-stop platform for affordable clothing, gadgets, footwear, watches, luggage, décor, groceries, accessories, and much more.
Amazon has expanded its reach in India due to its solid logistical network and unique marketing campaigns. The website is not bound to online shopping and has ventured into the entertainment industry through Amazon Prime Video, Amazon Prime Music, Amazon Audible, and Kindle. The platform provides Prime subscription in India at an affordable rate of Rs.179/month, providing exclusive benefits to subscribers.
Site Insights :
|Working Since||22 December 1994|
|Head Office||Hyderabad, India|
|Average Site Visitors||210M /Monthly (ahrefs.com)|
|Shipping Areas||All across the India|
|Site Deals in||e-commerce|
|App Links||Android & IOS|
Is Flipkart the market leader in India?
The country’s ecommerce market is expected to hit $133 billion in size by 2025 against $72 billion in 2022, brokerage firm Bernstein said in a report. – ETtech The Indian ecommerce market is expected to become a three-player market like the US and China, with Flipkart, Amazon and Reliance Industries cornering around 90% of the share, up from 70% now, brokerage firm Bernstein said in a report. The country’s ecommerce market is expected to hit $133 billion in size by 2025 against $72 billion in 2022, it said.
- Markets like India are still very early from an ecommerce penetration perspectivewhereas markets like China (and) Korea have nearly doubled the penetration to between 27-30% of the population,” the report said.
- But the growth of the ecommerce market should accelerate, led by Reliance, Amazon and Flipkart and the increasing share of Tier 2+ cities.
Like other markets (US, China), we expect ecommerce share to consolidate with the top three players expected to have ~90% market share,” it said. ETtech Currently, Walmart-owned Flipkart and Amazon dominate the Indian ecommerce space with around 60% share between them. Reliance is a distant third.
Which is Indian company Amazon or Flipkart?
Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company.