Now If compare this with the Indian E commerce market figure with US$ 14 billion in year 2012 of this US 14 billion, 75% of this was related to travel(Air ticket, railway tickets, hotel booking and online mobile recharges ) E commerce, as defined by Oxford dictionary, Is commercial transactions conducted through the internet.
The concept of e-commerce is yet to attain a solid foothold in India, as compared to brick-and-mortar retailing as we can see through the data above that e commerce trade Is a fraction of overall retail segment In India.This Is largely due to a number of factors, Including the country's low level of Internet integration, lack of computer education and the fact that Indians still remain skeptical about sharing their financial details online. This very fact of low level of e commerce trade is an opportunity In itself. Over the years many companies tried their hands In Indian e commerce Industry but with little success.
But It Is not Like that there is any company which we can cite as an example, which has got success in the fiercely competitive retail segment in India.And the company that has successfully broken this barrier and achieved phenomenal success in recent years is Flippant. Study Level/ Applicability limits success story of ballpark. Com will be studies In this management case study. Headquartered in the country's IT capital Bengal, flippant.
Com was established in 2007 by Mr.. Caching Banal and Mr..
Finny Banal, both TIT-Delhi graduates and former employees of global online retail giant Amazon. The initial Idea was to create an online portal that will be able to provide a comparison of various e-commerce websites. Unfortunately, the Bananas quickly realized that there weren't enough e- amerce websites to compare in India. This made them think of launching their own online shopping website, which led to the birth of flippant. Com. Case Overview Flippant started by retailing only books online, which was part of a smart entrepreneurial strategy to gain the trust of its target audience.
This was because books were relatively inexpensive items, which meant that more customers might be willing to make a one-time purchase and try the websites services.Moreover, books can be easily sourced from publishers and can be easily packed and delivered. The tragedy was a grand success, and the company is currently the undisputed leader of the country's online book retail industry, with a commanding 80 % market share. One of the biggest factors that have contributed to Flatcar's success is its 'cash on delivery (COD) mode of payment.
As Indians have traditionally remained wary of sharing their credit card or debit card details online and also want to touch and feel a product before actually purchasing it, flippant. Mom's COD payment mode has 1 OFF entirely new and untapped customer segment through the COD payment mode which would otherwise, have found it difficult to buy products online. This segment includes those who are technologically backward or are not yet familiar with the idea of plastic money. Apart from this, Flatcar's ability to provide robust discounts, in view of its low overheads, is another major attraction for existing and new customers. The company has an extensive warehousing and distribution system across all major transit points, which enables it to deliver products on time and ensure customer satisfaction.Having started with Just two employees, flippant.
Com now employs over 500 people, and hopes to touch a revenue figure of INNER 4500 core by 2015. Over the years, the company has branched out into sales of 12 product categories that include mobiles and tablets, cameras, computers, clothing and footwear, apart from books. Initially started with a modest sum of INNER 4 lack, which was part of the combined savings of its co-founders, this widely popular e-commerce company has already undergone four rounds of venture capital funding.
