Flipkart Pay Later Sees Double-digit Growth in

 Flipkart Pay Later Sees Double-digit Growth in Customer Base; Crosses 42 Million Transactions on Flipkart

• Flipkart Pay Later aims to scale customer growth by 2x in the next six months
• Beauty & General Merchandise, Home and Lifestyle were leading categories for the adoption of Flipkart Pay Later

Flipkart, India’s homegrown e-commerce marketplace, plans to expand its Flipkart Pay Later credit offering, targeting a 2X growth over the next six months. Currently, there are over 2.8 million customers who have adopted Flipkart Pay Later and have made more than 42 million transactions on the platform to date. Owing to the growing reliance on digital payments, Flipkart Pay Later has seen a 70% adoption rate among customers at the time of check-out and plans to cross the 100 million transaction benchmark by the end of the year. 

As digital adoption continues to increase across the country and customers seek value-driven credit options, Flipkart Pay Later has seen an increase of over 50% in the number of registered users as of July 21 in comparison to the previous year. Customers have used the offering mainly for purchases across categories of beauty and general merchandise, home and lifestyle. In fact, in categories such as lifestyle, Flipkart Pay Later has exceeded the credit card transactions, making it the top prepaid instrument used by consumers for the category.

Ranjith Boyanapalli, Head – Fintech and Payments Group at Flipkart, said, “As a homegrown platform, enabling accessibility and affordability for customers is at the heart of all our offerings. The success of Flipkart Pay Later so far has shown the benefits that the construct is able to provide to millions of customers and made us confident of its market-readiness for a much wider adoption - both on and outside Flipkart Group’s platforms. By expanding the offering, we want to enable customers across the country to fulfil their shopping needs in a seamless and hassle-free manner.” 

According to a recent TransUnion Cibil-Google report, small-ticket lending has gone up from 10% in 2017 to 60% in 2020. Customers are increasingly relying on fintech players for their credit demand which has further been accelerated during the pandemic. With this in mind, Flipkart plans to expand the reach of its ‘Pay Later’ construct to make credit available not just on Flipkart’s platform but on other partner channels as well.

Flipkart Pay Later offers its customers convenient and affordable credit solutions for their shopping needs. It is a 30-day credit product that does not have an interest fee and offers bank-grade security without an OTP for most transactions. It has end-to-end digital KYC, a seamless checkout process for items priced up to INR 10,000, and a single-click payment mechanism that eases the customer’s purchasing journey.

Furniture searches online jump

Furniture searches online jump 1.5x-2x ahead of wedding season: Flipkart data 

With the onset of the wedding season, usually witnessed from December to March, an increasing number of consumers across the country are looking for their furniture essentials online. With COVID necessitating staying indoors coupled with the inherent benefits of shopping online including the availability of a large selection of products and home delivery services, there has been a significant surge in searches of beds, sofas and dining tables to name a few.

Flipkart, India’s homegrown e-commerce marketplace, has witnessed an increase of 1.5x-2x in search of furniture items across verticals during the past few months as against the same period last year. This indicates a growing consumer appetite for purchasing furniture online in the run up to the wedding season. While the searches from metros and tier-I cities have jumped by 1.5x and 1.7x respectively,it is the tier-III cities which are leading the search trends with over 2x jump over last year. While beds and sofas are the most searched items for wedding shopping across cities, there is a growing demand for affordable and multi-functional furniture such as sofa-cum-beds etc., which ensure better utilisation of space.

To meet this growing demand, Flipkart is working with its large pool of over 10,000 onboarded sellers to make various types of furniture available during the upcoming season. The company is providing them with consumer insights on the kinds of furniture being preferred and the price points to meet consumers’ demand.

Nishant Gupta, Senior Director, Furniture and BGMH, Flipkart said, “A large number of consumers are looking to set up their homes during the upcoming wedding season due to which we are witnessing heightened search trends across various furniture verticals such as beds and sofas. While this trend is visible across cities, tier-III cities are witnessing over 2x jump in searches over last year, in continuation of a trend seen post COVID as an increasing number of consumers from smaller cities shop online. We, at Flipkart, have created a special store online to help wedding shoppers get a curated shopping experience and are working with our large number of sellers in making available the widest selection of furniture items ahead of the wedding season”. 

This year, Flipkart has expanded its furniture portfolio and has onboarded sellers from Tier-2 and Tier-3 cities, who specialize in authentic, indigenous designs and materials. With a selection of about 3.5 lakh furniture products by almost 10,000 sellers across the country, coupled with delivery in 100 percent of the serviceable pincodes and installation services at all major pincodes, Flipkart is enabling customers to set up their new homes with great ease and convenience. Flipkart’s affordability constructs like “No Cost EMI” and “Pay Later” are extremely popular, with almost 50 percent of customers choosing these options while paying.

Flipkart brings exciting festive offerings with

 Flipkart brings exciting festive offerings with ‘Big Billion Days Specials’, unveils over 200 special edition products

Partners with leading brands, sellers and artisans to co-create an innovative range of products across categories available only during the 6 days of The Big Billion Days

 Flipkart, India’s homegrown e-commerce marketplace, is aiming to make the festive shopping experience with the Big Billion Days even more special for consumers this year, with the introduction of a bigger and more attractive range of special edition products. The Big Billion Days Specials are a range of unique products across categories, co-created with leading brands, including limited edition products and collectables.

In partnership with more than 100 brands, exciting products across categories including fashion, electronics, mobile phones, large appliances, personal care, handicrafts and others will be made accessible to consumers. These 200+ products will be available only during the 6 Big Billion Days, which begins from midnight of October 16, with early access for Flipkart Plus consumers  15, until

 Flipkart had first introduced the Big Billion Days Specials in 2019, with the aim to create curated special collections, that are thematic or have industry-first innovations, to make the consumer shopping experience a memorable one, while meeting their growing aspirations. The number of partnerships for this year’s Big Billion Days Specials has more than doubled, as Flipkart continues to strengthen the partnership ecosystem and bring brands closer to consumers across the country.

 In addition to brand partnerships, this year’s Big Billion Days also brings together lakhs of artisans from across the country as part of the Samarth initiative. Craft techniques as old as Dokra Decor Craft amongst others will be made available for customers across India, as part of the festive fervour. Today, Flipkart Samarth supports the livelihoods of over 6,00,000 artisans, weavers and craftsmen across India and Flipkart consistently works towards bringing more such sellers to the platform through inclusive ecosystem partnerships, taking into account partners of all scales and specialisation.

This year’s Big Billion Days Specials have been curated leveraging Flipkart’s strong consumer understanding, aiming to make available a wide range of products across price points, that will make the festive season special for people across the country.

Some of the Big Billion Days Specials that customers will get access to this year include: 

• Motorola - India's First 3 in1 Smart Wireless device
• An Ethnic Range Curated By Kareena Kapoor for Imara
• Bikaji Limited edition 24K Gold leaf sweets
• Exclusive Virat Kohli Line of One8 products
• Puma X Big Billion Days , Catch Limited Edition Sneakers in Big Billion Days Flagship Colours 
• Anti - Microbial athleisure range from Flying machine 
• Denver - Shahrukh Khan's new autograph range
• Bluestar - Virus Deactivator AC
• India's first Smart TV with Sound by Onkyo by Nokia
• Room in a Box Furniture
• Stonesoup hygiene kits which are a part of Samarth’s ‘cart for a cause’ programme
• Special handicrafts such as Biswa Bangla Handcrafted Dokra and Kansha Chhanta

 

Some of the Big Billion Days Specials products will give customers a chance to meet their favourite celebrities, including Virat Kohli, Salman Khan and Ananya Pandey.

 

Nandita Sinha, Vice President – Events, Engagement & Merchandising at Flipkart, said, “The Big Billion Days is truly a festival for us and we look forward to making this year equally special for our consumers across the country. We aim to bring joy to people, in big ways and small, through a diverse offering on our platform. Every year, Flipkart leverages consumer insights and works collaboratively with thousands of brands in the ecosystem, to bring forth the best products. The phenomenal response we received from the entire ecosystem for the Big Billion Days Specials in 2019 encouraged us to partner with an even larger number of brands and celebrities to make it extra special for consumers this year. We are confident our partnerships and special edition products will help onboard new customers and chart a sharper growth trajectory for our partner brands.”

 

Flipkart increases focus on

Flipkart increases focus on business customers ahead of festive season

Enables GST invoice capabilities for Offices & Institutions such as SOHO (Small Offices & Home Offices)
& SMBs (Small & Medium businesses)

Flipkart, India’s homegrown e-commerce marketplace is strengthening its focus on business customers by now enabling customers to get their GSTIN on their invoices, thereby allowing them to claim input tax credit on their purchases. In a first of many initiatives towards enabling online commerce for businesses and enterprises; the capability to allow GSTIN on their invoices will help millions of business entities - to claim input tax credit on their business related purchases, saving up to 28% on their purchases.

The platform will service different types & sizes of organisations, that could belong to corporates, offices attached to facilities like manufacturing and warehousing, SOHOs, offices of CA organisations, clinics, law firms, consultancies and Institutes include service organisations like schools, colleges, hospitals, banks, salons amongst others.

The face of India’s office sector is evolving at a rapid pace. According to industry experts, over 50Mn businesses have a growing need for office equipment and infrastructure to serve their employee base. As a result the sector is likely to see YoY growth of 80% through e-commerce. The pandemic has further added pressure on O&Is to not only re-look at their office infrastructure and requirements but has also had an impact on their cash flows. Capabilities such as GST invoicing for office related purchases can further help these organisations save money and reallot resources appropriately. Flipkart has seen an average query of about 4000 per month from brands and O&I seeking such capabilities to support their businesses.

Business entities transacting on Flipkart can purchase stationery, Mobiles, TVs, office chairs, laptops, etc. while at the same time solve for their ad-hoc needs, have greater transparency, save time from market visits & broken supplier base. To avail GST input tax credit, businesses need to choose a product which has GST enabled sellers, add their GSTIN details during checkout & claim the GST invoice to claim the benefit.

Earlier in September 2020, Flipkart announced the launch of Flipkart Wholesale the digital B2B marketplace of India’s homegrown Flipkart Group showcasing its commitment to B2B businesses by offering a one-stop solution for the retail ecosystem which will offer Indian businesses a wide selection of products at significant value, powered by technology and with an aim to grow their business. Flipkart Wholesale is currently available for fashion retailers, especially footwear and apparel, in Gurugram, Delhi and Bengaluru, with plans to expand to other cities by the end of year 2020.

Flipkart’s 2GUD forays into social commerce brings

Flipkart’s 2GUD forays into social commerce; brings content-to-commerce play for consumers across the country 

• 2GUD social commerce brings unique browse-led, video-based shopping experience
• The platform will host endless feed of videos made by influencers;
  enabling content to commerce for consumers

Flipkart, India’s homegrown e-commerce marketplace, today announced the launch of social commerce on its independent value platform - 2GUD. With the aim to widen the customer proposition, the social commerce feature will be available to all app users. 2GUD’s social commerce platform will allow users to have an uninterrupted video shopping experience with their favourite influencers showcasing the latest fashion trends, reviewing gadgets, sharing beauty tips and so much more.

Consumers on 2GUD’s social commerce platform will be exposed to a feed of videos made by a hand-picked influencer network across various topics and categories. These influencers will curate their favorite products as part of their collection in the virtual store, allowing consumers to witness their styling journeys across categories. It will also allow consumers to shop the products which are part of the video, without moving away from the video interface, leading to a seamless, natural and content-to-commerce experience.

 

 

 Commenting on the launch, Chanakya Gupta, Head of 2GUD at Flipkart, said, “We want the next 200 million customers to be able to experience social commerce comfortably and build their trust on 2GUD as they come on to the platform for an engaging shopping experience. These consumers quite often face trust and style deficits. In a situation like this, recommendations from a person like yourself or an influencer play a critical role. Influencers are changing the landscape of online retail and bringing greater opportunities for social commerce platforms in India. With millions of followers across the country, they have the potential to impact consumer’s buying decisions. With this focus, we have specially curated a set of influencers who are best positioned to understand our target audience and help them through their buying decisions on the platform.”

The manner in which consumers today are consuming content has dramatically changed over the past few years with the advent of social media. The rise of influencers, beyond the metro cities, has given a pathway to a new generation of content creators who are able to drive deeper personal connections and are relatable to a mass of audience, beyond metros. As an extension, social commerce has already made inroads and accounts for 15-20% of the online retail market today, which is expected to hit the $70 billion mark in the coming decade, according to industry reports. With low data costs and an increasing market of first-time internet users in Bharat, especially from Tier 2 and 3 cities, the opportunity for the social commerce industry is growing by leaps and bounds.

Starting with the launch of social commerce on its app, 2GUD will further expand this feature to its m-site and website. 2GUD currently caters to more than 600+ verticals across new value-driven offerings and existing refurbished product segments. The platform has more than a million customers spanning across 15,000+ pincodes in India.

Flipkart partners with Meru to deliver

Flipkart partners with Meru to deliver everyday essentials & groceries to consumers

  Meru to deliver essential goods to Flipkart customers in Ozone sanitized cabs across Delhi NCR, Bengaluru and Hyderabad through safe & sanitized supply chain

-           Help provide income opportunities to driver-partners

Flipkart, India’s homegrown e-commerce marketplace, and Meru, India’s trusted app-based ride-hailing cab operator in which Mahindra & Mahindra Ltd holds a majority stake, have partnered to provide people access to grocery & essential items as people stay indoors supporting ‘social distancing during the ongoing lockdown. This partnership will help deliver grocery & essential items to Flipkart customers at their doorstep across Bengaluru, Delhi NCR and Hyderabad through the safe & sanitized supply chain.

This partnership is a continuation of Flipkart’s efforts to create innovative models of collaboration to serve citizens during this unprecedented crisis. It also supports the government’s efforts to keep Indians at home to contain the spread of COVID-19. The synergies between both organisations will ensure that essential supply chains are functional while supporting driver-partners with income opportunities.

Kalyan Krishnamurthy, CEO, Flipkart Group, said, “Flipkart Group is committed to customers as India fights this unprecedented battle. This partnership with Meru is a result of our teams exploring new, innovative ways to drive value for our ecosystem of sellers, brands, partners, and customers to ensure the safe and swift availability of grocery & essential goods. We have a very secure & safe supply chain where we follow SOPs diligently. We stand by the nation in this fight against COVID-19 as we prioritize the well being and safety of all including our customers & employees.”

Speaking on this partnership, Neeraj Gupta, Founder and CEO at Meru Mobility Tech Pvt. Ltd. said, “This is a unique initiative which we are undertaking with Flipkart which will benefit consumers immensely. Meru will use its fleet to ensure the timely and safe delivery of essentials to Flipkart’s large customer base in a hassle-free manner. This service will also offer our driver-partners an additional earning opportunity during this challenging time.”

In line with the government guidelines, Meru is providing its Ozone Sanitized fleet to help Flipkart with their deliveries. The dispatch hubs have been installed with ‘Ozone Air Purifier’, encouraging all driver-partners to sanitize their cabs, thus maintaining high standards of hygiene. Meru driver-partners will undergo Flipkart’s training module for a better understanding of its processes for safe and timely delivery of the grocery items,
while Meru is educating and updating its driver-partners on various preventive measures like using
alcohol-based sanitizers and wearing face masks to curb the spread of the virus.