What is Flipkart? Flipkart Review

1. Basic Introduction

Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal and is the first large-scale e-commerce company in India. Headquartered in Bangalore, India, Flipkart paved the way for the development of the e-commerce industry before Amazon and other competitors entered the Indian market. At first, the platform focused on book sales similar to Amazon, and then expanded to other categories such as consumer electronics, clothing, fashion, etc.

2. Business Scope

3C, books, clothing and electronic products, etc.

In addition to selling books and electronic products, Flipkart also operates an online marketplace that allows third-party manufacturers to set up shop and sell products.

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

3. Flipkart Chinese Sellers Registration Requirements

1. GSTIN - 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.

IV. Steps to Settlement

1. Log in to Flipkart Seller Center

Log in to the Flipkart platform seller center through the Flipkart official website (https://www.flipkart.com/), as shown below or directly enter: https://seller.flipkart.com/?utm_source=flipkart&utm_medium=website&utm_campaign=sellbutton

2. Enter the registration process

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

Note: The mobile number here must be a valid mobile number in India

3. Create an account

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 account information

The information that sellers need to complete includes: company information, bank information, store information, product information

6. Complete enterprise information

Add the company name, PAN card, TIN/VAN, 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. Registration completed

After adding the product listing, the entry of Flipkart Chinese sellers is basically completed.

5. Market Operation

In addition to selling books and electronics, Flipkart also operates an online marketplace that allows third-party vendors to sell their products.

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

6. Platform Fees

Flipkart charges sellers the following fees:

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

(In 2017, Flipkart said it would adjust the commissions of some levels of sellers, reducing the average commission charged by 20 to 25 rupees per transaction, and the sellers' sales costs would be minimized after the adjustment.)

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

Handling fee: 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 in all the above cases.

7. Platform Advantages

1. Platform traffic advantage

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.

2. Platform product advantages

The number of SKUs on Flipkart platform exceeds 800,000

3. Platform logistics advantages

And the logistics covers more than 1,000 cities, so sellers do not need to worry about the logistics of the goods after settling in. They only need to provide the product pick-up point to Flipkart, and the platform's logistics partners will assist in transportation.

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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.

2017: In April, eBay agreed to invest $500 million in cash and sell its eBay.in business to Flipkart in exchange for its equity stake in Flipkart, but eBay.in will continue to operate as a separate entity from Flipkart, according to a company statement.

In April 2017, the company was valued at $11.6 billion.

In June 2017, Flipkart was selected as one of the "50 Smartest Companies in the World" by MIT Technology Review in 2017.

As of 2017, Flipkart’s market share in India reached 39.5%.

In May 2018, it was acquired by Walmart for US$16 billion. On August 8, 2018, India's antitrust regulator approved Walmart's acquisition of Flipkart for US$16 billion.

On July 15, 2020, Indian e-commerce company Flipkart Group said that it has completed $1.2 billion in equity financing to support the continued development of its e-commerce market.

The deal is led by Walmart, a major shareholder of Flipkart Group, and a group of existing shareholders. Flipkart is currently valued at $24.9 billion.

Flipkart’s acquisition

References

• 1. Flipkart's business only on mobile apps: 36kr official website [cited on 2018-03-05T16:00:00.000Z]
• 2. Walmart leads new round of $1.2 billion financing for Indian e-commerce giant Flipkart: Sina Technology [cited on 2020-07-06T16:00:00.000Z]
• 3. Flipkart was selected by MIT Technology Review: Tencent News [cited on 2018-03-05T16:00:00.000Z]