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Flipkart consolidates fintech offerings into single vertical ahead of festive sales
Economic Times
ยท
11m ago
Medial
Flipkart has consolidated its fintech offerings into a single vertical called Flipkart Pay, ahead of the festive season sales. The company will provide various services under the Pay vertical on its shopping app, including UPI, bill payments, insurance, financing, co-branded credit cards, and buy now pay later services. This move aims to improve customer engagement and provide a seamless payment experience. Flipkart's expansion into fintech comes as rival Amazon continues to invest in its Indian fintech arm, Amazon Pay India, amid growing competition in the payments market.
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Ahead of festive season, Flipkart holds seller conclaves across India
Economic Times
ยท
1y ago
Medial
Flipkart and rival Amazon India hold extensive discussions with online merchants ahead of their crucial festive season sales to prepare and manage inventory as well as share insights on what kind of offers would work better in a certain category.
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Flipkart merges tech and product ops of travel and epharmacy biz
Economic Times
ยท
1y ago
Medial
Flipkart has merged the technology and product roles of its new businesses, Cleartrip and Flipkart Health Plus, into its core commerce team to streamline operations. This integration has taken place ahead of Flipkart's flagship festive season sale, BigBillionDays, which is anticipated to start on October 7 or 8. Cleartrip and Flipkart Health Plus are experiencing fast growth, and Flipkart aims to have a linear structure across all its businesses. Tech initiatives, like the shopping assistant Flippi, are being implemented across the company's various ventures.
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Will Quick Commerce Eat Amazon, Flipkartโs Festive Season Lunch?
Inc42
ยท
9m ago
Medial
- Quick commerce platforms are gaining a significant share in online grocery sales, expected to reach 51% outside the festive season. - Quick commerce platforms are challenging local kirana shops rather than traditional ecommerce marketplaces. - Ecommerce giants like Flipkart and Amazon dominate mobile phone sales and quick commerce platforms have limited impact in this category. - Customers prefer the credit features, returns, and exchanges offered by ecommerce marketplaces during the festive season. - Quick commerce platforms have limited inventory risks in the fashion category, with vertical marketplaces holding the key share. - Quick commerce platforms are rapidly adopting skin care and beauty products, which may impact niche players like Nykaa and Purplle. - The emergence of quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart has disrupted traditional ecommerce giants in the market.
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Festive sales hit $6.5 billion in a week on ecommerce street: report
Economic Times
ยท
9m ago
Medial
- Online marketplaces recorded a 26% increase in sales, reaching $6.5 billion in one week of festive sales. - Mobile phones, electronics, consumer durables, home, and general merchandise accounted for three-fourths of the total sales. - Sales in the first week made up for about 55% of the total expected ecommerce sales during the festive season this year. - Ecommerce giants Flipkart and Amazon India started their annual festive season sales on September 27, with a strong demand observed from tier-II and beyond cities. - Supply chain issues pose a significant challenge for brands during the festive rush, with demand exceeding expectations in some cases. - Quick-commerce platforms are also witnessing growth during the festive season, particularly in categories like wearables and audio products.
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Sale is live! ecommerce companies on track to hit 20-25% growth this season
Economic Times
ยท
9m ago
Medial
Online retailers like Flipkart and Amazon are expected to experience a 20-25% growth in festive season sales this year, based on the response to the first three days of sales. The online retailers saw a 26% rise in sales compared to last year, totaling about $3.2 billion during September 26-28. Industry estimates predict gross sales of $12 billion for the entire festive season, including discounts and returns. Flipkart is on track to meet its targets, and various categories such as mobile, electronics, and consumer durables, as well as fashion and beauty, have seen significant growth.
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BharatPe Rolls Out New App For Investment Offerings
Inc42
ยท
8m ago
Medial
Fintech company BharatPe has launched the Invest BharatPe app, which consolidates its investment offerings including P2P lending and digital gold. The app will also introduce additional investment products in the future. Users can buy 24K digital gold for as low as INR 100.
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At zero dark 100, Flipkart to fire up quick commerce in festive season
Economic Times
ยท
1y ago
Medial
Flipkart plans to open around 100 dark stores ahead of its Big Billion Days sale to compete with quick commerce platforms. The move is aimed at cornering a chunk of sales in the fast delivery segment during the festive season. The e-commerce giant has started testing its Flipkart Minutes service with select users in certain areas, with plans to launch it in a couple of weeks. The service will initially offer vegetables, fruits, groceries, and electronics. The rapid delivery space is expected to witness intense competition and price wars as players like Zepto, Blinkit, and Instamart battle for market share.
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Amazon Prime Day boosts sales across categories, but smartphones lag - The Economic Times
Economic Times
ยท
2d ago
Medial
Amazon's Prime Day sale saw substantial growth in several categories, including electronics, beauty, home, and fitness, despite lagging smartphone sales. Brands reported up to sixfold sales increases, indicating robust consumer demand and a strong start to the festive shopping season. This event serves as a crucial sales boost and market indicator ahead of the festive quarter. While metro city sales remained strong, tier II and III cities contributed significantly to the order volume.
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Flipkart Ventures invests in five early-stage tech startups
Economic Times
ยท
1y ago
Medial
Flipkart Ventures, the venture investing arm of Flipkart, is investing in five early-stage startups as part of its accelerator program called Flipkart Leap Ahead (FLA). These startups, Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle, are part of the third cohort of Flipkart Leap Ahead. Flipkart Ventures aims to provide mentorship and equity investments ranging from $250,000 to $500,000 to these startups, fostering growth and innovation in various sectors including deep tech, fintech, health tech, generative AI, and sustainability.
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Ahead of festive sale, Flipkart pokes fun at Amazon
Economic Times
ยท
1y ago
Medial
E-commerce giant Flipkart takes a dig at rival Amazon on Twitter, mocking the latter's search result for 'big billion day 2023'. Both companies will launch their flagship sales on October 8. Flipkart introduced 'Flipkart VIP' for select cities, offering early access and cashback benefits. Competitors like Reliance Retail's JioMart and Tata Neu are also expected to join the festive sales frenzy. The government has previously expressed concerns over deep discounting and flash sales on such platforms.
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