“With this, Flipkart becomes the first company to reach this milestone in a single country outside the United States and China”.
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Country’s largest e-commerce marketplace Flipkart has crossed the 100 million (10 crore) registered users mark, making it the first online firm in India to reach this milestone. The online retailer will be going head-on with arch-rival Amazon India – easily the biggest showdown in Indian e-commerce ever. Amazon reportedly beat Flipkart (not including Myntra and Jabong) in June and July in terms of the value of products sold.
With 100 million users, the registered customer base of Flipkart stands at around 63 per cent of wireless and wire line broadband connections in India.
The company has not announced its monthly users, which, considering Amazon’s marketing strategies, could be much lower than the 100 million user claim, Business Standard reported. “This milestone has further energised us to ramp up our efforts and build a world-class shopping destination”, said Binny Bansal, co-founder and chief executive officer of Flipkart, in a statement. Citing a Bank of America Merrill Lynch report in September, Flipkart claims it still dominates the e-commerce segment with a 43% share.
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Flipkart’s growth comes at a time when the industry has begun raising red flags about a drop in the pace of new users coming online to shop. These users are registered across desktop website, mobile application and mobile websites. India is being seen as an opportunity globally with a significant chunk of foreign investments flowing into the sector in companies like Flipkart, Snapdeal and Paytm.
