What is Flipkart? Flipkart Review

Flipkart is India's largest e-commerce retailer and was founded in 2007 by two former Amazon employees, Sachin Bansal and Binny Bansal.

Overview

The company is headquartered in Bangalore, India. Initially, the platform focused on book sales, similar to Amazon, and later expanded to other categories, such as consumer electronics, clothing, fashion, etc. As of 2017, Flipkart's market share in India reached 39.5%. The platform was acquired by Walmart for US$16 billion in May 2018, acquiring 77% of the shares, and the acquisition was finally completed on August 18, 2018.

The monthly visitor number of Flipkart platform is as high as 69.8 million. The website ranks 9th in China and 173rd in the world. The number of users of the entire site exceeds 1 billion, and the number of SKUs on the platform exceeds 800,000.

Business scope and market

3C, books, clothing and electronic products, etc. In addition to selling books and electronic products, Flipkart also operates an online market that allows third-party manufacturers to settle in and sell products.

In 2014, Flipkart launched its own product line called 'DigiFlip' which included tablets, USB flash drives and laptop bags.

Requirements for Chinese sellers

1. GSTIN: This is India’s tax registration number. To apply for GSTIN, you need a valid Indian mobile phone number, email address and PAN card that is linked to your business.

2. PAN card (Personal PAN for business type “Proprietorship” and Personal + Business PAN for business type “Company”);

3. GSTIN/TIN number (not mandatory for a few categories);

4. Bank account and supporting KYC documents (proof of address and cancelled cheques);

5. Have at least 1 unique product available for sale.

Platform charges

Flipkart charges sellers the following fees:

Commission: A certain percentage of the order amount is charged as commission, and the specific fee ratio varies according to the vertical category/subcategory to which the product belongs.

Freight: Freight is calculated based on the weight of the goods and the shipping location.

·Handling fee: It varies according to the order amount and the customer's payment method. The customer's payment method is divided into two types: prepayment and cash on delivery.

Fixed Fee: A fixed fee is charged based on the amount of the product.

GST: Applicable to all the above situations.

Steps for Chinese Sellers to Settle in

1. Log in to the Flipkart platform seller center through the Flipkart official website (https://www.flipkart.com/) or click here directly:

2. Fill in your email address and mobile phone number, click "start selling", and you will be redirected to the "Create Account" page:

Note: The mobile number here must be a valid Indian mobile number.

3. Fill in the account name and password. The email address and mobile phone number will be automatically brought out from the previous ones. The mobile phone number here needs to receive the verification code sent by the platform before entering the next step;

4. Set up a pickup location;

5. Complete information, including: corporate information, bank information, store information, product information;

6. Add the company name, PAN card, TIN/VAN, and TAN information. If you do not have TIN/VAN or TAN, you can check the box under the corresponding option. As long as it meets the platform requirements under the corresponding option;

7. Complete bank information;

8. Improve store information;

9. After adding the product listing, the onboarding of Chinese sellers on Flipkart is basically completed.

FAQ

Q: How is the payment calculated on Flipkart?

A: Flipkart will directly transfer the funds to the seller's bank account through NEFT transactions. The platform will settle the seller's amount within 7-15 working days depending on the seller's level. Gold sellers will take 7 working days, silver sellers will take 10 working days, and bronze sellers will take 15 working days.

Q: How many products do I need in my store to sell?

A: The seller’s store needs at least one product that complies with the policy before it can be sold.

Q: What protection does Flipkart provide to sellers in case of product loss, damage or customer fraud?

A: Flipkart provides sellers with SPF or Seller Protection Fund service. If the seller is defrauded, he can claim SPF through the Seller Center.

Development History

-On April 22, 2015, Flipkart, India's largest e-commerce company, will shut down its web version and only conduct business on the mobile app.

-On April 10, 2017, Flipkart, India's largest e-commerce platform, confirmed that the company received $1.4 billion in investment in a new round of financing, with a company valuation of $11.6 billion.

-On August 8, 2018, India’s antitrust regulator approved Walmart’s acquisition of Flipkart for $16 billion.