India’s top most eCommerce player Flipkart is doing exceptionally well in terms of business growth. As per latest sources this largest online retailer of India is eyeing for $8 billion worth in product sales in next three years. Flipkart is targeting to double the total value of products it sells online in order to extend its gap with other rivals in Indian ecommerce market which includes Snapdeal and Amazon.in. Flipkart is already the industry leader of this field, and they are likely to remain so by expanding their business exponentially. It’s true that this Sachin Bansal and Binny Bansal led company is facing tough competitions from Amazon’s India unit and Snapdeal.com, and to tackle that Flipkart bought online fashion retailer website Myntra.com for Rs. 2000 Crore last year.
Flipkart.com eyes $8 billion sales in next three years
On last Wednesday the founder of Flipkart.com had a closed-door townhall meeting with the employees of the company. As per sources, who were present on that meeting, Sachin and Binny said that the company is vastly focusing in increasing its GMV (Gross Merchandise Values) to $8 billion by next three years. Currently Flipkart is managing to sell $4 billion worth of goods/products on its official site. Here you should know that GMV is calculated on basis of average sales per month.
As per estimation by the sources close to the ecommerce industry of India, Flipkart’s nearest competitors Snapdeal.com and Amazon.in are currently clocking gross merchandise values (GMV) of $3 billion and $1 billion respectively. It is easily understandable that Flipkart is aiming to widen this gap even further in next few years.
Flipkart.com is currently focusing on selling products via its mobile app, which is indeed a very well-planned move considering the growth Smartphone sales in India. The company is running many app-specific deals and heavy print and media promotions to boost up its sales volume via its official app which is available for Android, iOS and Windows devices.