Flipkart To Experiment With Groceries & Renew Push In Furniture Too
Groceries and more furniture on Flipkart !
What is Flipkart trying to do now?
Flipkart, India’s one of the top e-commerce platform is planning to move into groceries and also renew push its online furniture store as it wants to expand its products and compete with global giant Amazon.com in the Indian market. Binny Bansal, CEO of Bangalore-based startup, believes within next year the company will start to experiment with grocery sales and expand its operation over three-year period.
Online grocery sales
Amazon has already started to pilot grocery sales in some of Indian cities. In India with more than 1.2 billion population, e- commerce is growing fast than ever, since people are dependent on internet to buy anything i.e. clothes to smartphone and much more. According to Bank of America Merrill Lynch, the value of goods sold in India will cross over to $188 billion by the year 2025.
Bansal also believes that Flipkart’s fashion will be best-selling category for the next few years but he also thinks that online groceries has great potential to grow just like fashion and electronics within next six to eight years. Earlier this year, Myntra- Flipkart owned online fashion portal bought its rival Jabong for $70 million in order to create India’s largest online fashion retailer.
Flipkart to expand its furniture
The company is also planning to renew its online furniture space. Urban Ladder and Pepperfry, has begun to fuel the demand for online furniture sales in India, a country where people still prefer traditional carpenters and local stores mostly. Flipkart also sells online furniture but is planning to relaunch its online furniture store by the next three to four months and include many more varieties. It is also aims to provide furniture assembly services as they key to make progress in this line of business.
Future plans of the company
The company would consider to go public in 2-4 years and would listing in India or overseas. Flipkart, which is backed by Tiger Global Management and Accel Partners among the others, has cash reserves up to three years and will raise funds when it’s available not when they are needed most.
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