April 6, 2011, Bangalore: India’s largest online retailer, Flipkart.com, today announced that it will retail consumer electronics in a bid to make shopping hassle-free for customers. The move will enable shoppers to find the full range of popular electronic products and leading brands in addition to books, CDs/DVDs, mobiles and cameras, while enjoying the Flipkart advantage of low prices and reliable information across product categories.
The choice includes computers and peripherals, laptops, cameras, printers and networking devices such as routers. All popular consumer electronics brands such as Apple, Sony, LG, Panasonic, Samsung and Philips will be available while computer and peripheral choices include OEMs such as HP, Dell, Sony, Samsung, Toshiba, Lenovo, Microsoft and Cisco. Alongside detailed product information and expert reviews, Flipkart will also feature active comments and ratings to aid customers select from a wide portfolio of choices.
“We want our customers to find what they are looking for without having to spend too much time or effort. Our customers have repeatedly proved that convenience, better pricing and wide choice are the only reasons that make them come back to us. Our success with CDs, mobiles and cameras, apart from books are testimony to this fact. It is only a natural progression to add more categories, and we believe that our customers are looking for better online shopping experiences in consumer electronics such as TVs and computers. And Flipkart is ready to deliver just that”, said Sachin Bansal, CEO & Co-founder.
Currently, the online share of the USD 30 billion Indian electronics market is 0.2 percent ($60 million). However, with a buoyant demand and a growth of 15% CAGR, the volumes are set to increase, provided there are good shopping experiences online. Flipkart expects electronics and appliances to contribute around 30% to its total revenues in the next two quarters. Electronics is also expected to contribute as much as 50% of the company’s revenue run rate of Rs. 500 crores for FY 2011-12.
Flipkart currently delivers products in 3 to 7 working days and is confident of maintaining the same time-lines for electronics. All existing payment options, including cash-on-delivery will be available for this category. Flipkart will continue to use the services of its existing logistics partners for delivering electronics products.
With over 10 million titles (books) available and currently speeding along at the rate of 4 books sold every minute, Bangalore based Flipkart.com is the largest online book store in India. The company was started in 2007 by former classmates at IIT Delhi and later colleagues at Amazon.com, Sachin Bansal and Binny Bansal. Flipkart started with books and have in just over three years, spread across the country, with registered buyers in every city and small town. Going by the aim to retail more than just books, Flipkart introduced new product categories last year, namely, Movies, Music, Games, and Mobiles and will be venturing into many more in the coming years. They also introduced the ‘Cash-on-Delivery’ option, making it possible for anyone across the country with internet access, to shop online.
Regarded a pioneer in the e-commerce space in the country, the Flipkart experience is characterized by the intuitive user interface, free shipping and low prices. As a testimony to the superior customer experience, the company has consistently recorded repeat purchase rates of more than 70%. Currently Flipkart has registered sales of over 1 million items across all categories. After recording revenue of Rs 25 crore in the last year, the company has touched Rs 75 crore mark for the year ending March 2011.
Flipkart has a team of more than 600 members and currently operates from offices in Bangalore, Mumbai, Delhi and Kolkata.