Flipkart
Flipkart was launched in October, 2007 by the duo, Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology, Delhi. As of today, it is the first Billion dollar company in the Indian e-commerce context with 20,000 employees, 26 million registered users, technology that enables 5 million shipments/month, 8 million daily page visits and 13 state-of-the-art warehouses (source : Flipkart.com is India’s leading marketplace with over 20 million products across 70+ categories including baby care, books, clothes, games and toys, home and kitchen, footwear, jewellery, laptops, etc.
Their journey commenced with selling books in the year 2007 and progressed to consumer support 24×7 in the year 2008, to including music, movies and mobiles, cash on delivery in the year 2010. In the year 2011, Flipkart incorporated features such as card on delivery, dedicated logistics for faster delivery, 30 day replacement policy to having an in-house brand Digiflip in the year 2012. In the year 2013, they sold one hundred thousand books in a single day and offered same day guarantee.
In the year 2014, they had a billion dollar funding, acquired Myntra, provided In-a-day guarantee and scheduled delivery.
Flipkart allows payment methods such as cash on delivery, credit or debit card transactions, net banking, e-gift voucher and card swipe on delivery (Source: www.flipkart.com).
Advantages
Convenience
Online stores are usually available 24 hours a day, and many consumers in Western countries have Internet access both at work and at home. Other establishments such as Internet cafes, community centers and schools provide internet access as well.
Price and selection
One advantage of shopping online is being able to quickly seek out deals for items or services provided by many different vendors (though some local search engines do exist to help consumers locate products for sale in nearby stores).
Search engines, Shipping costs (if applicable) reduce the price advantage of online merchandise, though depending on the jurisdiction, a lack of sales tax may compensate large orders.
Disadvantages
Fraud and security concerns
Given the lack of ability to inspect merchandise before purchase, consumers are at higher risk of fraud than face-to-face transactions. When ordering merchandise online, the item may not work properly, it may have defects, or it might not be the same item pictured in the online photo.
Payment
Online shoppers commonly use a credit card or a PayPal account in order to make payments. However, some systems enable users to create accounts and pay by alternative means, such as:
- Billing to mobile phones and landlines[26][27]
- Cash on delivery (C.O.D.)
- Cheque/ Check
- Debit card
- Direct debit in some countries
- Electronic money of various types
- Gift cards
- Postal money order
- Wire transfer/delivery on payment
- Invoice, especially popular in some markets/countries, such as Switzerland
- Bitcoin or other cryptocurrencies
Some online shops will not accept international credit cards. Some require both the purchaser’s billing and shipping address to be in the same country as the online shop’s base of operation. Other online shops allow customers from any country to send gifts anywhere. The financial part of a transaction may be processed in real time (e.g. letting the consumer know their credit card was declined before they log off), or may be done later as part of the fulfillment process.
Product delivery
Once a payment has been accepted, the goods or services can be delivered in the following ways. For physical items:
- Shipping: The product is shipped to a customer-designated address. Retail package delivery is typically done by the public postal system or a retail courier such as FedEx, UPS, DHL, or TNT.
- Drop shipping: The order is passed to the manufacturer or third-party distributor, who then ships the item directly to the consumer, bypassing the retailer’s physical location to save time, money, and space.
- In-store pick-up: The customer selects a local store using a locator software and picks up the delivered product at the selected location. This is the method often used in the bricks and clicks business model.
For digital items or tickets:
- Downloading/Digital distribution:[28] The method often used for digital media products such as software, music, movies, or images.
- Printing out, provision of a code for, or e-mailing of such items as admission tickets and scrip (e.g., gift certificates and coupons). The tickets, codes, or coupons may be redeemed at the appropriate physical or online premises and their content reviewed to verify their eligibility (e.g., assurances that the right of admission or use is redeemed at the correct time and place, for the correct dollar amount, and for the correct number of uses).
- Will call, COBO (in Care Of Box Office), or “at the door” pickup: The patron picks up pre-purchased tickets for an event, such as a play, sporting event, or concert, either just before the event or in advance. With the onset of the Internet and e-commerce sites, which allow customers to buy tickets online, the popularity of this service has increased.
Policy
Flipkart respects third party Intellectual Property rights and actively supports protection of all third party Intellectual Property including Copyrights and Trademarks (“IP”). It is our policy to expeditiously respond to clear notices of alleged IP infringement.
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