Flipkart had initially launched the loyalty programme called Flipkart First, but it fizzled out due to lack of focus from the company and low interest from consumers.
Electronic appliances, smartphones, fashion categories are currently being sold on e-commerce sites at heavy discounts.
Myntra will also launch a new handloom brand during its upcoming annual Brand Summit, The Tech Threads, on November 2 in Bengaluru.
Consolidation would be the name of the game in e-commerce space next year, with small firms shutting shop, leaving fewer players in an environment of intense competition, former CFO of Infosys T V Mohandas Pai said.
Indians are known to splurge large during Diwali and both giants are well prepared with exclusive offers and attractive deals to pull as many customers they can
This investment adds to the USD 75 million funds infusion Flipkart made in PhonePe since acquiring it in 2015
Even though Amazon marketplace has refrained from giving explicit numbers, it has claimed to be the largest marketplace in the country, following its four-day festive season sale last month.
It also claimed that of the total sales that a seller-generated across various platforms, Flipkart’s share of wallet from a seller was more than 70 percent, during the sale period
With two biggest e-tailers are engaged in a fierce battle to control the market, a customer stands to gain the most
Besides Flipkart, employees of its subsidiaries like Myntra will also be a part of the ESOP repurchase plan.
Shopclues ex-CEO Sandeep Aggarwal had filed an FIR against the company’s other two co-founders Radhika Ghai and current CEO Sanjay Sethi, earlier this month.
Besides Bangalore-based Amazon, Noida based Paytm Mall also questioned the research methodologies of RedSeer Consulting, saying it were not relevant for their model.
The lobby group is likely to have representatives of Flipkart, Ola, MakeMyTrip, Quikr, and Hike Messenger who are expected to push for policies favoring domestic companies.
Both Amazon and Flipkart have been claiming dominance in India's e-commerce market that saw annual festive sales worth USD 1.5 billion, last week.
F1 Info Solutions will be a part of Flipkart’s Jeeves, a 3rd party service provider for large and small home appliances and furniture.
Last year the industry made around USD 1.05 billion in the same period, a year on year growth of 40 percent. The consulting firm also forecasted sales of USD 1.5 to 1.7 billion for the industry, a week before the sale.
Microsoft has reportedly invested $200 million to build AI capabilities.
While Flipkart claims to have doubled sales since last year's sales, Amazon claims it remains the largest marketplace in India.
Amazon reported a fourteen-fold growth in traffic during the first day of the Great Indian Festival on Thursday
Amazon's four-day festive sale, which commenced on September 21, clashed with those by rivals Flipkart and Paytm. "We have seen 2.5X growth in smartphone sales, 4X increase in large appliances and 7X in fashion sales. This is our biggest ever sale," Amazon India vice president-category management Manish Tiwary told PTI.
Last year, the company claimed to have gained the top spot with sales of 15.5 million, leaving rival Amazon marginally behind with 15 million orders.
With rival Snapdeal, vacating the third place, Paytm Mall is planning to capture the third spot in India's e-commerce industry
Moneycontrol gives readers a sneak peek inside the Amazon India 'war rooms' as it kicked off its biggest Diwali sale ever at midnight, this week.
Flipkart, which kicked off its 'The Big Billion Days' (TBBD) sale yesterday, said it has sold 1.3 million smartphones within the first 20 hours of the category opening for sale.
In the next few months, Shopclues is planning to launch exclusive labels in men’s fashion, electronics and accessories.