Tag: flipkart

Story of startup : flipkart

Photo by RODNAE Productions on Pexels.com

Flipkart was founded in October 2007 by Sachin Bansal and Binny bansal former employees of amazon and graduated from IIT Delhi. It is an Indian company who had its headquarters in Banglore. Initially the company started online book sales with country-wide shipping.

Being a two-man startup, they took care of everything from developing their website to delivering books. they’d managed to deliver 20 shipments in 2007 itself. In 2008, that they had moved into a 2BHK apartment .

Slowly, their business began to boom and by the end of 2009, Flipkart had managed to sell books worth ₹4 crores. In brief span of time, Sachin and Binny had managed to grow their company at an incredible pace and that they had also developed their personalities as entrepreneurs.

With new partners and more investment, Flipkart was able to dive into the electronics category. So they started selling mobiles in 2010.Flipkart had gathered enough fame to build that quantity of trust among its customers. They come up with a superb idea of introducing Cash on Delivery as mobiles were costly thing as compared to books.

And then later they came with ideas like return policy. These features were liked by customers. Flipkart began to expand its market to different products and acquired many ecommerce websites. You may be suprised to know that flipkart also owns myntra.

Thank you for reading.

https://en.wikipedia.org/wiki/Flipkart

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.flipkart.com/&ved=2ahUKEwjfpuGi4LrxAhWAIbcAHT6qCHYQFjAAegQICxAC&usg=AOvVaw0v_i-rdbD-oVZOBoKBuRP8

How to save on your purchase at Ali Express?

How to save on your purchase at Ali Express?

Really want those newly launched Air Jordan’s which sells at almost 3 times it’s retail price or that high spec gaming PC which is not at all available or those knee length boots you have always longed, Ali Express makes all of this possible and much more.

So, here are a few tips and tricks to save on your purchase on Ali Express.Prefering the mobile App over desktop site. The mobile app usually has more offers and discounts rather than the desktop version.

Ali Express has a coin feature which you might find similar to flip kart’s super coin feature. With every purchase you earn super coins which you use for further purchases as discounts.

You might be aware of Amazon’s deals of the day Ali Express has a similar feature called flash deals on which you can save on your purchases.

Ali Express also conducts Sales throughout the year. You can always wait for these Sales and plan your retail therapy accordingly.

Shopping during Stock Clearance can also help you to get great deals on products.

Along with that there are numerous third-party coupon and discount apps which gives additional discounts when shopping via their links and sites. Cash Karo is a prime example of this. One can also avail promocodes, coupons and Ali Express offers through it.

Prepare yourself for Retail Therapy and Happy Shopping.

Consumer Protection Bill 2019, (E-Commerce) Rules, 2020

An Act to provide for protection of the interests of consumers and for the said purpose, to establish authorities for timely and effective administration and settlement of consumers’ disputes and for matters connected therewith or incidental thereto.

The Indian Parliament, on 6 August 2019, passed the landmark Consumer Protection Bill, 2019 which aims to provide the timely and effective administration and settlement of consumer disputes. The Consumer Protection Act, 2019 (New Act) received the assent of the President of India and was published in the official gazette on 9 August 2019. The New Act will come into force on such date as the Central Government may so notify. The New Act seeks to replace the more than 3 (three) decades old Consumer Protection Act, 1986 (Act).

While e-commerce has opened new avenues and has made transactions faster and more convenient, they have also been prone to unfair trade practices. Although e-commerce platforms tried to resolve the grievance of the customers, there was a need to streamline the functioning of the same. With this perspective, the Central government notified the Consumer Protection (E-commerce) Rules, 2020.

From Amazon to Walmart and now Facebook and Google, through Reliance Jio are all betting on India being their next big online consumer market.

Walmart has invested $1.2 billion in Flipkart in an equity round, two years after it bought a 77% stake in the Indian retail giant for $16 billion. Walmart’s investment came just days after Amazon invested ₹2300 crore or $305 million into its Indian arm, following Jeff Bezos’ $1 billion investment promise to India. Earlier this year, Amazon had also signed a long-term business agreement with Kishore Biyani’s Future Group.

Meanwhile, Facebook’s $5.7 billion investment and Google’s $4.5 billion bet on Reliance Jio come at a time when Reliance chairperson Mukesh Ambani is betting on retail as the next big venture. One of the most significant factors of the Facebook-Jio deal was that Reliance Retail and WhatsApp are now in a commercial partnership to accelerate JioMart’s growth. Through JioMart and WhatsApp, the entities will now help support consumer businesses.

E-commerce Rule, 2020

The intention of the Legislature to specifically deal with e-commerce and online transactions was evident from the very enlargement of the definition of consumer under Section 2(7) of the Act by including both online and offline transactions within the scope of ‘buying goods’ and ‘hiring services’. Further, the Act categorically defines relevant e-commerce, electronic service provider and misleading advertisement while specifically addressing the most commonly faced issues such as refusing to take back defective goods or refusing to refund the amount.

The Rules are pretty exhaustive in their sweep and, at the outset, declares its application to:

(i) All goods and services bought or sold over digital or electronic network including digital products;

(ii) All models of e-commerce, including marketplace and inventory models of e-commerce;

(iii) All e-commerce retail, including multi-channel single brand retailers and single brand retailers in single or multiple formats; and

(iv) All forms of unfair trade practices across all models of e-commerce.

A bare perusal of the same demonstrates that the intention of the Legislature is, clearly, to encompass every aspect of e-commerce and keep consumer interests on the highest pedestal while streamlining the functioning of e-commerce platforms. This is also demonstrated from the fact that the Rules clearly define the relevant players of the e-commerce space, such as e-commerce entity, inventory e-commerce entity, marketplace e-commerce entity and seller.

E-commerce

Information Technology has been playing a vital role in the future development of financial sectors and the way of doing business in an emerging economy like India, Bangladesh etc. Increased use of smart mobile services and internet as a new distribution channel for business transactions and international trading requires more attention towards e-commerce security for reducing the fraudulent activities. The advancement of Information and Communication technology has brought a lot of changes in all spheres of daily life of human being. E-commerce has a lot of benefits and many acts which hurts the small businesses or business aspects. This study predicts some challenges in an emerging economy.

What is E-Commerce ?

E-commerce means buying and selling of goods over electronic and digital platforms. Thete have been many allegations that big e-commerce are responsible to harm healthy competition in the market. Economies of scale and advancement of logistical companies has helped e-commerce companies to ship goods to anywhere.

Why E-commerce?

With the increasing diffusion of ICTs, more specifically the Internet, the global business community is rapidly moving towards Business-to Business (B2B) e-Commerce. The buyers gain a clear advantage when the Internet gives them access to the global market, by which they can compare prices across regions, find out whether prices vary by order fragmentation and get awareness about substitute products. Due to transparency of the market, customer can compare the services of various e-commerce sites easily. For instant, in case of e-commerce the competitors are one click away from customer. If clients are not happy with the products, prices or services offered by a particular e-commerce site, they are able to change much more easily than in the physical. From the Sellers’ point of view, they don’t need to have physical existence of shop.

E-commerce Hegemony ?

Recently The competition commission of India ordered a probe into alleged competition law violations by Flipkart Amazon over allegations that the e-commerce major promoted and gave discounts to preferred sellers, entered into exclusive partnerships with smartphone brands and abused their dominant position.

Flipkart Amazon is good provider by online marketplace for selling goods in India. Flipkart and Amazon is a wholesaler which is in the business of seeking the good to reseller.

Section 4 of the competition act 2002 is very important as we know completion act is not against possessing dominant position in the market but is objects abusing such dominant position. Section 4 of this act deals with abuse of dominant position.

Dominant position in a market means positions of strength enjoyed by any enterprise in relevant market. Like any enterprise operate independently of competitive forces prevailing in the relevant market Affects it’s competitors or consumers or relevant market in its favor. Recent example of abuse of power should be Amazon Flipkart how they give heavy discounts to customer directly pick-up the good from company that hits the shopkeeper or small enterprises.

Conclusion

As e-commerce industry is emerging sector with high potential of growth govt has to introduce some policies to promote healthy competition in this industry. Govt has to anticipate current loophole in regulations and amend it is such a way that instead of harming msme sector. The e-commerce industry will be a leader with popularity in electronic business world in the upcoming years. The e-commerce revolution has fundamentally changed the business of transaction by giving new opportunities and breaking borders easily. In India, it has strongly impacted the traditional business system and changing the life of people by making it easier. While it gives benefits to customer and seller, e-commerce gives challenges to traditional business for competitive position. Developing countries face many obstacles that affect the successful implementation of e-commerce with the help of comparing with developed country. When the internet cost will be low then the e-commerce will flourish easily and will make many of traditional business to run out of their business. Convenience is one of the benefits that customer gets from the e-commerce and thus increasing customer satisfaction. This is due to customer can place a purchase an order from anywhere with internet connection. E-commerce business provider should give importance on every customer by giving smooth service and many options for payment and have more functions available online. Other benefits are expanded product offerings and expanded geographic reach. But e-commerce business faces a lot of challenges in flourishing their business.

E-commerce sites to display country of origin on products to promote made in India and Atmanirbhar Bharat.

New Delhi: The government had taken yet another big step after ban on 59 Chinese apps to make it compulsory for E-commerce sites to display ‘country of origin’ tag so that users can identify Indian products and help make Atmanirbhar Bharat a success. The online shopping sites have agreed with government to display’country of origin’ and are cooperating with government.

The Government e-Marketplace (GeM) portal, which is used by government departments for public procurement, on Tuesday made it mandatory for sellers to enter the “country of origin” while registering all new products.

The Department for Promotion of Industry and Internal Trade (DPIIT) asked e-commerce players including Amazon and Flipkart to display mention ”country of origin” on each product sold at their platforms.

While GeM says it has taken this step to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’ (Self-reliant India), the move also comes days after a deadly border clash between Indian and Chinese soldiers. Sub-standard and cheap Chinese products often make their way into the Indian market, more so through online platforms. The government has ramped up efforts to curb the inflows of such low-grade imports and their consumption here.

The government has taken such steps to reduce dominance of Chinese products in Indian market and make India self-reliant country. We must support the efforts of government and use as much as possible made in India products.