Flipkar is a well-known Indian e-commerce company that operates in over 150 countries.
It is the largest online retailer in India with over 4 million employees.
According to its website, Flipkarts revenue grew by 5.6% year on year in the third quarter of 2017 to Rs. 5,400 crore, an increase of Rs. 6,600 crore over the same quarter last year.
However, this is a loss of over Rs. 3,000 crore.
Flipkarpart has not released any numbers for its revenue growth in India during the quarter.
Flip Kaur also said that it plans to focus on acquiring new customers through its ‘Buy It Now’ option.
In order to increase its customer base, Flip Karpas chief executive officer Sunil Chatterjee said that the company plans to make acquisitions in the next two to three months.
“We plan to acquire more and more customers through Buy It Now option and it is going to be a very successful initiative in the near future,” he said.
FlipKarpas has also set up an exclusive group with over 10,000 customers, which has a high conversion rate.
“Buy It Today” option is a subscription service that gives customers an instant access to over 200,000 products.
Flipkar’s ‘Buy Now’ is one of the most successful features in FlipKart, which allows customers to buy items for less than the price they would normally pay at a local store.
According the company’s latest results, the company sold 1,824 million items during the three-month period ending December 31, 2017.
Flipks revenue grew 5.9% to Rs 9,879 crore during the same period.
In the fourth quarter of this year, FlipKare sold 5.4 million items, an annualised growth of 9.1%.
Flipkare, which is owned by Flipkarn, has been the fastest growing e-retailer in the world.
The company is currently selling products for Rs. 8,500 per item, a rate of Rs 3,400 per item.
Flip kar has over 30 million products in stock.
“It is our belief that our product offerings will become a big opportunity for our business.
We will work hard to attract more customers,” said Sunil, who was appointed Flipkarinan to the post.
The Flipkars ‘Buy Here’ service is an exclusive, fast-track option. “
As an example, we are actively working on an e-book platform for which we are targeting more than 20,000 retailers,” he added.
The Flipkars ‘Buy Here’ service is an exclusive, fast-track option.
Users can buy products at Flipkarmars online store for Rs 500 per item or buy an item for Rs 30000 at a time.
The option is available in India only.
The business has been on a steady growth for the last five years and it expects to see even higher growth in the future.
In 2017, Flipks revenues grew by 6.7% to $ 3.6 billion.
In 2018, Flip kars revenue grew 6.2% to over $ 3 billion.
The average customer spends Rs. 10,800 per month on online purchases.
According a report from IDC, Flipkar has been growing faster than the Indian economy at an average rate of 5.1% per year.
Flipkkars business model is based on two main pillars.
First, it has been a successful e-tailer with strong growth.
Second, it also has a presence in the US, Europe, China, the Middle East, and Africa.
The Indian business has also grown rapidly over the last 10 years, with Flipkara now having over 1.8 million employees in the country.
Flipkaar is also one of Flipkarna’s largest revenue-generating businesses, with revenue growing by 13.2%.
It currently generates revenue of Rs 15,835 crore and has over Rs 9.8 lakh employees.
In addition to its growing business model, Flipkkar is expected to add a lot more jobs in the coming years as more customers adopt its services.
In March 2017, the Flipkari said that its annualised profit for the current fiscal year was Rs 1,200 crore, up from Rs 1.4 crore in the same year last year and the company expects to break even by the end of the year.
“Its growth in terms of turnover has been phenomenal over the past few years.
We are optimistic of our business model,” Sunil said.