Monday 20 April 2015

Flipkart to become an M-commerce-only format within a year

Following what it did for its unit Myntra, Flipkart is reportedly all set to move to an app-only format within a year. Myntra had earlier announced that it would down its website and move all operations to its app starting May 1. 

"A year ago, 6 per cent of our traffic was coming from mobiles. In less than 18 months, that traffic is 10-fold. As the rate of transactions mirrored that of traffic increase on the app, Flipkart's move to app-only platform makes sense," Michael Adnani, vice-president, retail and head of brand alliances, Flipkart was quoted as saying. 
That shows the significance of what a mobile phone is doing for the consumers and consequently doing for us Flipkart has more than 40 million registered users and has about 30,000 merchants selling over 20 million products on the platform. 

India is the third-largest Internet market in the world with more than 243 million users, trailing China and the US in that order. Boston Consulting Group expects more than 580 million people in India to use the Internet by 2018, with 70-80 per cent of them accessing the Web on mobile phones. 

Smartphones have also become far more affordable, compared with a couple of years ago, and 6-7 million of them being brought into India for local sale. Going by the numbers, an app's consumer reach will be larger than the mobile version of a website or the website itself.

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