Sachin Bansal, CEO Flipkart, is confident at achieving 10 fold growth in revenue this year.
Mr. Bansal recently confirmed in a statement, “In terms of revenue, we are looking at Rs. 500 Crores to Rs. 600 Crores in thecurrent financial year”. In retrospection, the company had managed a revenue of 50 Crores last year. The confident, IIT & ex-Amazon Duo Sachin Bansal and Binny Bansal is targeting USD 1 Billion (Rs. 5000 Crores) in the next 2 to 3 years! He further added, “Our target is not just those who shop online. We want to highlight the convenience of e-commerce to traditional offline shoppers and, thus, help grow the market.”
Flipkart is already into multiple categories & started with the aim of being the largest online retailer of books & recently added, computer peripherals, kitchen appliances, televisions, home theatre systems etc. to its product range. All in all, Flipkart is into 12 Major categories. but, the CEO has confirmed that they will stay away from Groceries & Automobiles, “Everything, except for groceries and automobiles, is fair game for Flipkart” he quips.
Some things that were pioneered by Flipkart to drive sales & customer support were, cash/card on delivery, 30-day replacement policy, equated monthly installment and 24X7 customer support & this is what has helped them garner a support of over 1500 suppliers across the country.
But have Flipkart forgotten about its primary love…. Books?
No, in fact, Flipkart has already begun thinking about the next iteration, e-books, “We are keeping a close eye on the market trends and will make our foray into the e-books space at the right time” added by Mr. Bansal. With many firms already backing the duo, we are confident that the venture is headed, nowhere but up.
While some brick-n-mortar companies are going online, Will Flipkart open up a offline store?