Hardeep Singh
Flipkart Wholesale, a digital B2B platform, stated on Tuesday that its grocery membership has increased by 30% to over 5 lakh, with 70% opting for e-commerce during the ‘Big Billion Days’ festive sale event.
On October 10, the Flipkart Big Billion Days sale came to an end. Flipkart’s Big Billion Days event was a huge success, according to the e-commerce business, with customers helping them set new sales records. On its Big Billion Days webpage, Flipkart praised customers for their support, claiming that Indians saved Rs 115 billion during the Walmart-owned company’s week-long festive sale. Individuals benefit from limitless sales because the cost of conducting business on Flipkart is lower than on other e-commerce platforms. Whether you’re a manufacturer, vendor, or supplier, you may become a top seller with a modest investment.
Flipkart’s key competitors include Myntra, Paytm, Snapdeal, eBay, Amazon, and Alibaba. Flipkart is a website where you can purchase and sell items such as books, music, and movies.
With over 30 million products in a variety of categories, Flipkart.com is India’s most popular e-commerce site. Flipkart, which started out as a two-person operation, now has 30,000 employees and 46 million active users. They are one of the top five websites in India, according to Alexa rankings, with technology that allows for 8 million monthly shipments, 10 million daily page views, and 14 cutting-edge warehouses. India’s first billion-dollar e-commerce company is Flipkart.
It’s difficult to think that a single small company can have such a large influence on our purchase habits. Flipkart, on the other hand, has already done so. E-commerce was still considered a niche industry in 2007, and the vast majority of Indians still made their purchases offline.
Two Indian software engineers, Sachin Bansal and Binny Bansal, recognised the changing dynamics of technology and the promise of E-commerce. Even though India had only 50 million internet users at the time, they expected that as smartphones grew more widespread, more Indians will be connected to the internet. They wanted to take advantage of this potential by establishing an online shopping platform that would improve the purchasing experience in India.
According to the firm, Kirana merchants in Bhopal, Kota, Lucknow, and Zirakpur raised their sales by 1.8 times.
During the Big Billion Days, which ended on October 10, 2021, there was a 70% rise in kirana e-commerce adoption across the country compared to the same period previous year.
Music, cell phones, and movies were among the first items to be sold on the platform. As e-commerce revolutionised retail and gained acceptance in India, Flipkart grew quickly, continually restocking numerous new item categories in its inventory.
Walmart, a retail chain based in the United States, paid US$16 billion for a 77 percent controlling share in Flipkart in August 2018, valuing the company at roughly $20 billion.
During the festive event, over five lakh kiranas from over 10,000 pin codes across 24 states and union territories shopped on the site and in Flipkart Wholesale Best Price stores.
The site’s general retail category had a 124 percent boost in sales, followed by food (which witnessed a 50 percent surge in demand) and fashion (which saw a 24 percent increase in demand).
The organisation was satisfied with the enormous favourable response to the entertaining event. Their technologically focused approach to assisting small business growth has raised e-commerce usage and sped up the digitization process.
The platform claimed to have made loans worth Rs 165 crore available to consumers across all categories during the Big Billion Days in collaboration with its banks and financial services partners, and in association with banks and fintech lenders, the company said it offers interest-free financing and a purchase now, pay later option to 1.5 lakh kiranas with credit lines ranging from Rs 10,000 to Rs 25 lakh.
There are around 800 million internet users in India, and the number of people who shop online is rapidly expanding. Flipkart, India’s largest e-commerce site, grew from a two-man idea to become the country’s most trusted online shopping platform, with more than 80 million products over 80 categories and more than 100 million customers.
