Flipkart is betting on new vendor sign-ups, video commerce, expanded logistics infrastructure, gaming, and its personalization engine to lure customers on-line this festive season, which kicks off on October 16 with its flagship Huge Billion Days sale, high executives advised ET in an interview.
The homegrown e-tailer expects to see elevated value-conscious shopping for in comparison with earlier years in the course of the six-day-long sale interval, however has upped its recreation to drive engagement and the belief of latest customers at a time when it’s locked in a battle with rival Amazon and new entrant Reliance Industries’ Jio Mart.
4 high executives of the Walmart-owned firm — together with senior vice presidents Amitesh Jha, Jeyandran Venugopal and Rajneesh Kumar – advised ET in a joint interview that they count on small cities to dominate progress.
“Within the final 6 months, on account of Covid-19 lot of customers for the primary time really began attempting out ecommerce. We needed to basically innovate and rethink on find out how to make the platform even higher to cater to the brand new wants of this subsequent 200 million cohort,” mentioned Venugopal, chief product and expertise officer at Flipkart.
Since final 12 months, Flipkart has launched in native languages together with Tamil, Hindi and Kannada, and invested in voice and pure language expertise to drive adoption.
Gross sales may develop by as a lot as 50% to about $four billion throughout the primary gross sales days – that are dominated by Flipkart’s Huge Billion Days and Amazon’s Nice Indian Pageant Sale, in line with consultancy RedSeer’s estimates.
This era is anticipated so as to add 50 million new customers, in line with the consulting agency’s forecast.
Learn: Walmart invests $560 million in Flipkart
Gaming and video commerce focus
Social promoting, gaming and video providing for purchasers seeking to have interaction past procuring might be necessary levers this festive season.
“For purchasers new to the web, gaming and movies are first touchpoints… having a presence in that house helps us join with them, and over time it builds a degree of affinity and stickiness to our platform,” Venugopal added.
Nevertheless, shopper insights derived by the ecommerce firm signifies that customers have gotten increasingly worth aware.
“Extra so, in these difficult occasions… We are attempting to convey worth by means of a wider and inexpensive choice, led by small native companies,” mentioned Rajneesh Kumar, Chief Company Affairs Officer at Flipkart.
Kumar added that forging ecosystem partnerships and dealing carefully with native governments might be key to optimizing secure fulfilment amid the pandemic.
Learn: Ecommerce might bag huge good points this festive season by logging report gross sales
Agile provide chain
In line with Amitesh Jha, SVP – eKart and market, within the runup to BBD, Flipkart has added over 3.four million sq. ft of house throughout provide chain belongings, onboarded 50,000 kiranas (nook shops) for deliveries, partnered with about 60 manufacturers to ship items quicker, and doubled its vendor base.
The corporate launched a brand new initiative, BrandAdvantage, which permits sellers which have purchased stock from manufacturers to maintain it saved within the model’s personal warehouses throughout the nation as an alternative of a centralized vendor location.
“This helps the general worth chain efficiency by lowering non-value-added actions, quicker time to market, and improved sell-through for brand new product traces for manufacturers,” mentioned Jha.
Give attention to SMBs
In a bid to get extra sellers from small cities on-line, Jagjeet Harode, senior director, market, at Flipkart, mentioned the etailer was working with a slew of first-time small companies to assist them launch and scale on-line.
“We’re working applications to assist companies with working capital, allow them to launch extra classes the place the demand is increased and handhold with account administration,” mentioned Harode.
The main target of onboarding SMEs is constant throughout all marketplaces.
Final week, Amazon India mentioned this festive season, greater than a 3rd of the taking part companies had been first-time on-line sellers, with the general vendor base on the platform growing to 650,000 from 550,000 within the final 10 months. This Diwali, Reliance can be anticipated to set off a value warfare, with JioMart increasing its presence past groceries to foray into vogue, smartphones, and shopper electronics.
Harode advised ET that Flipkart too continues to be bullish about these classes.
Personalization is one other key lever for Flipkart to drive gross sales from present prospects.
“Now we have scaled up our personalization algorithms… to grasp a buyer’s model sensitivity, model preferences, the worth sensitivity, class affinities to present them the best-optimized expertise,” Venugopal mentioned.