In a major push to get into the lanes and by-lanes of India, Walmart owned Indian e-retailer Flipkart launched its online wholesale service targeted for the small mom-and-pop stores and other small businesses. The company announced this new venture on Wednesday and this new offering is aimed to better compete with Amazon and other players in the fast growing and highly competitive e-commerce market in of India.
Currently selling apparel in the cities of Bengaluru, Gurugram and Delhi, the company has a service called the ‘Flipkart Wholesale’ which is also available as a smartphone app. Now the company wants to expand the service to 20 more cities in the country and also add offers of selling groceries by the end of the year.
Flipkart said in a statement on Wednesday that it also hopes to list more than 200,000 products in two months with a total of more than 50 brands and 250 local manufacturers within just the next few days.
In July, United States based retail giant Walmart sold off its wholesale business in India to Flipkart – the e-retailer in which Walmart also has a majority stake.
The mom-and-pop stores of India are considered to be the backbone of the Indian economy and have been eyed by the likes of Amazon.com Inc and other e-commerce players which includes the online grocery upstart JioMart which is backed by Indian billionaire Mukesh Ambani.
More than $20 billion was raised so far this year by Ambani’s Reliance Industries Ltd with investments for its digital arm from the likes of global companies such as Facebook and Alphabet’s Google. It is expected that JioMart will be supported by Reliance Industries.
Competition from similar services from Amazon and other firms including Tencent-backed startup Udaan will however provide tough competition to ‘Flipkart Wholesale’.
(Source:www.economictimes.com)
Currently selling apparel in the cities of Bengaluru, Gurugram and Delhi, the company has a service called the ‘Flipkart Wholesale’ which is also available as a smartphone app. Now the company wants to expand the service to 20 more cities in the country and also add offers of selling groceries by the end of the year.
Flipkart said in a statement on Wednesday that it also hopes to list more than 200,000 products in two months with a total of more than 50 brands and 250 local manufacturers within just the next few days.
In July, United States based retail giant Walmart sold off its wholesale business in India to Flipkart – the e-retailer in which Walmart also has a majority stake.
The mom-and-pop stores of India are considered to be the backbone of the Indian economy and have been eyed by the likes of Amazon.com Inc and other e-commerce players which includes the online grocery upstart JioMart which is backed by Indian billionaire Mukesh Ambani.
More than $20 billion was raised so far this year by Ambani’s Reliance Industries Ltd with investments for its digital arm from the likes of global companies such as Facebook and Alphabet’s Google. It is expected that JioMart will be supported by Reliance Industries.
Competition from similar services from Amazon and other firms including Tencent-backed startup Udaan will however provide tough competition to ‘Flipkart Wholesale’.
(Source:www.economictimes.com)
