A

PROJECT REPORT
ON
ROLE OF E-COMMERCE IN REDUCING
OPERATIONAL COST IN FLIPKART
SUBMITTED IN PARTIAL FULLFILLMENT FOR THE
AWARD OF THE DEGREE IN
BACHELOR OF COMMERCE

Project submitted by:-

B VIJAY KUMAR -107020405042
B GANESH RAO -107020405043
B NIKHITHA - 107020405044
B RAJESH -107020405045

UNDER GUIDANCE OF
H SRINIVAS RAO
ASSOCIATE PROFESSOR OF COMMERCE

OSMANIA UNIVERSITY

BJR GOVERNMENT DEGREE COLLEGE

(VITTAL WADI NARAYANA GUDA HYDERABAD)
 CERTIFICATE
This is to certify that the project titled “ROLE OF E-COMMERCE IN REDUCING
OPERATIONAL COST IN FLIPKART ” is a
B VIJAY KUMAR - 107020405042
B GANESH RAO - 107020405043
B NIKHITHA - 107020405044
B RAJESH -107020405045
bonafide work done and submitted by for partial fulfilment for the award of
Bachelor Degree in Commerce by under the guidance of
DR H SRINIVAS RAO, Assistant Professor of Commerce. To the best of knowledge
the matter presented in this project report has not been submitted earlier to any
other university

Signature of faculty principal

External Examiner
 ACKNOWLEDGMENT

Firstly , I would like to thank Mrs.Dr, P.V. GEETHA

LAXMI PATNAIK
Principal Of BJR GOVERNMENT DEGREE COLLEGE
for extending to all facilities for carrying of this Project
work
And also thankful to DR H SRINIVAS RAO associate
professor of commerce providing me a good direction
towards this project work

Last but not least , I take this opportunity to thank one and
all who have helped in making this project successfully

B VIJAY KUMAR -107020405042

B GANESH RAO -107020405043
B NIKHITHA - 107020405044
B RAJESH -107020405045
 DECLARATION

I here by declare that the project report titled “ROLE OF E-

COMMERCE IN REDUCING OPERATIONAL COST IN
FLIPKART” prepared under the guidance DR H SRINIVAS
RAO of BJR GOVERNMENT DEGREE COLLEGE
VITTAL WADI towards partial fulfillment for the requirement
of award of BACHELOR Of COMMERCE
The Project report has not been submitted to any other
University for the Award of any Degree or Diploma.

B VIJAY KUMAR-107020405021
B GANESH RAO -107020405022
B NIKHITHA - 107020405025
B RAJESH -107020405026
 INDEX

S.No Contentnts Page Remark

. No.

1. Introduction about the 1-8

Industry

2. Objective of the Analysis 9

3. Company Profile [ Flipkart ] 10-20

4. Analysis 21-31

5. Suggestion & Conclusion 32-34

6. References 35

7. Bibliography 36
 Chapter - 1
E-Commerce Industry

Introduction
E-commerce (electronic commerce) is the activity of electronically buying or selling
of products on online services or over the Internet. The term was coined and first
employed by Dr. Robert Jacobson, Principal Consultant to the California State
Assembly's Utilities & Commerce Committee, in the title and text of California's
Electronic Commerce Act, carried by the late Committee Chairwoman Gwen Moore
(D-L.A.) and enacted in 1984. Electronic commerce draws on technologies such
as mobile commerce, electronic funds transfer, supply chain management, Internet
marketing, online transaction processing, electronic data interchange (EDI), inventory
management systems, and automated data collection systems. E-commerce is in turn
driven by the technological advances of the semiconductor industry, and is the largest
sector of the electronics industry.

Modern electronic commerce typically uses the World Wide Web for at least one part
of the transaction's life cycle although it may also use other technologies such as e-
mail. Typical e-commerce transactions include the purchase of online books
(such as Amazon) and music purchases (music download in the form of digital
distribution such as iTunes Store), and to a less extent, customized/personalized
online liquor store inventory services. There are three areas of e-commerce: online
retailing, electronic markets, and online auctions. E-commerce is supported
by electronic business.

E-commerce businesses may also employ some or all of the followings:

 Online shopping for retail sales direct to consumers via Web sites and mobile
apps, and conversational commerce via live chat, chatbots, and voice assistants;

 Providing or participating in online marketplaces, which process

third- party business-to-consumer (B2C) or consumer-to-consumer (C2C)
sales;

 Business-to-business (B2B) buying and selling;

1
  Gathering and using demographic data through web contacts and social media;

 Business-to-business (B2B) electronic data interchange; Marketing to

prospective and established customers by e-mail or fax (for example, with
newsletters);

 Engaging in pretail for launching new products and services;

 Online financial exchanges for currency exchanges or trading purposes.

E-commerce offers consumers the following advantages:

 Convenience. E-commerce can occur 24 hours a day, seven days a week.

 Increased selection. Many stores offer a wider array of products online than
they carry in their brick-and-mortar counterparts. And many stores that solely
exist online may offer consumers exclusive inventory that is unavailable
elsewhere.

E-commerce carries the following disadvantages:

 Limited customer service. If you are shopping online for a computer, you
cannot simply ask an employee to demonstrate a particular model's features in
person. And although some websites let you chat online with a staff member;
this is not a typical practice.

 Lack of instant gratification. When you buy an item online, you must wait for it
to be shipped to your home or office. However, retailers like Amazon make the
waiting game a little bit less painful by offering same-day delivery as a
premium option for select products.

 Inability to touch products. Online images do not necessarily convey the whole
story about an item, and so e-commerce purchases can be unsatisfying when
the products received do not match consumer expectations. Case in point: an
item of clothing may be made from shoddier fabric than its online image
indicates.

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The Indian e-commerce industry has been on an upward growth trajectory. The online
retail market in India is estimated to be 25% of the total organized retail market and is
expected to reach 37% by 2030. By 2034, it is predicted to surpass the United States
to become the second largest e-commerce market globally.
A young demography, increasing internet and smartphone penetration, and relatively
better economic performance are some key drivers of this sector. Each month, India
adds approximately 10 million daily active internet users- the highest rate in the
world; number of smartphones per 100 people has risen from 5.4 in 2014 to 26.2 in
2018. According to 2019 data, it was estimated that one in every three Indians
shopped using a smartphone.

In order to tap onto the large market, the e-commerce industry has also seen an
increase in innovation across platforms, and ancillary segments such as logistics. The
market has become conducive grounds for testing various business models such as
inventory, social networks, aggregator, and e-commerce marketplace model, among
many others.

Further, out of nearly 100,000 pin codes in India, online retailers deliver to 15,000 to
20,000 pin codes. The e-commerce trend is gaining major popularity even in the tier-2
and tier– 3 cities as they now make up nearly half of all shoppers and contribute three
of every five orders for leading e-retail platforms. The average selling price (ASP) in
tier-2 and smaller towns is only marginally lower than in tier-1/metro cities.

Electronics and apparel make up nearly 70% of the e-commerce market, when
evaluated against transaction value. Other upcoming categories are baby products,
furnishing, personal care, food and groceries.

Four Traditional Types of Ecommerce Business Models

If you’re starting an ecommerce business, odds are you’ll fall into at least one of these
four general categories.

Each has its benefits and challenges, and many companies operate in several of these
categories simultaneously.

Knowing what bucket your big idea fits in will help you think creatively about what
3
your opportunities and threats might be.

4
1. B2C – Business to consumer.

B2C businesses sell to their end-user. The B2C model is the most common business
model, so there are many unique approaches under this umbrella.

Anything you buy in an online store as a consumer — think wardrobe, household

supplies, entertainment — is done as part of a B2C transaction.

The decision-making process for a B2C purchase is much shorter than a business-to-
business (B2B) purchase, especially for items that have a lower value.

Think about it: it’s much easier for you to decide on a new pair of tennis shoes than
for your company to vet and purchase a new email service provider or food caterer.

Because of this shorter sales cycle, B2C businesses typically spend less marketing
dollars to make a sale, but also have a lower average order value and less recurring
orders than their B2B counterparts.

And B2C doesn’t only include products, but services as well.

B2C innovators have leveraged technology like mobile apps, native advertising
and remarketing to market directly to their customers and make their lives easier in
the process.

For example, using an app like Lawn Guru allows consumers to easily connect
with local lawn mowing services, garden and patio specialists, or snow removal
experts.

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Additionally, home service businesses can use Housecall Pro’s plumbing software
app to track employee routes, text customers, and process credit card payments on the
go, benefitting both the consumer and business alike.

2. B2B – Business to business.

In a B2B business model, a business sells its product or service to another business.
Sometimes the buyer is the end user, but often the buyer resells to the consumer.

B2B transactions generally have a longer sales cycle, but higher order value and
more recurring purchases.

Recent B2B innovators have made a place for themselves by replacing catalogs and
order sheets with ecommerce storefronts and improved targeting in niche markets.

In 2020, close to half of B2B buyers are millennials — nearly double the amount from
2012. As younger generations enter the age of making business transactions, B2B
selling in the online space is becoming more important.

3. C2B – Consumer to business.

C2B businesses allow individuals to sell goods and services to companies.

In this ecommerce model, a site might allow customers to post the work they want to
be completed and have businesses bid for the opportunity. Affiliate marketing services
would also be considered C2B.

Elance (now Upwork) was an early innovator in this model by helping businesses hire
freelancers.

The C2B ecommerce model’s competitive edge is in pricing for goods and services.

This approach gives consumers the power to name their price or have businesses
directly compete to meet their needs.

Recent innovators have creatively used this model to connect companies to social
media influencers to market their products.

6
4. C2C – Consumer to consumer.

A C2C business — also called an online marketplace — connects consumers to

exchange goods and services and typically make their money by charging transaction
or listing fees.

Online businesses like Craigslist and eBay pioneered this model in the early days of
the internet.

C2C businesses benefit from self-propelled growth by motivated buyers and sellers,
but face a key challenge in quality control and technology maintenance.

Five Value Delivery Methods for Ecommerce Innovation

If your business model is the car, then your value delivery method is the engine.

This is the fun part — where you find your edge. How will you compete and create an
ecommerce business worth sharing?

Here are a few of the popular approaches taken by industry-leaders and market
disruptors.

1. D2C – Direct to consumer.

By cutting out the middleman, a new generation of consumer brands have built loyal
followings with rapid growth.

Online retailers like Warby Parker and Casper set the standard for vertical disruption,
but brands like Glossier are showing us how D2C can continue to be an area for
innovation and growth.

2. White label and private label.

To “white label” is to apply your name and brand to a generic product purchased from
a distributor.

In private labeling, a retailer hires a manufacturer to create a unique product for them
to sell exclusively. With private labeling and white labeling, you can stay lean on your
investments in design and production and look for an edge in technology and
marketing.
7
3. Wholesaling.

In a wholesaling approach, a retailer offers its product in bulk at a discount.

Wholesaling is traditionally a B2B practice, but many retailers have offered it to

budget- conscious consumers in a B2C context.

4. Dropshipping.

One of the fastest growing methods of ecommerce is dropshipping.

Typically, dropshippers market and sell items fulfilled by a third party supplier,
like AliExpress or Printful. Dropshippers act as a middle man by connecting buyers to
manufacturers. Easy-to-use tools allow BigCommerce users to integrate inventory
from suppliers around the world for their storefronts.

5. Subscription service.

As early as the 1600s, publishing companies in England used a subscription model to

deliver books monthly to their loyal customers. With ecommerce, businesses are
going beyond periodicals and fruit of the month clubs. Today, virtually every industry
has seen the arrival of subscription services to bring convenience and savings to
customers.

8
9
CHALLENGES IN ANALYSIS

There were few challenges that were been faced during the project work on the E-
commerce Industry: -

 One of the major challenges during the analysis was the collection of primary
data (original data) related to the study.

 Searching the accurate data related to the study was another challenge.

 Knowing the appropriate perspective and the preparation of questionnaire was

also one of the challenges.

 Studying the impact of covid on e-commerce was a

challenge in terms getting the data.

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 Chapter - 2
OBJECTIVE OF ANALYSIS

The major objectives of the project work on E-commerce industry are: -

 To understand about E-commerce and its role in the economy

 To understand the types of E-commerce and its functioning

 To understand the influence of the coronavirus pandemic on the E-

Commerce Industry with respect to the consumers perspective.

 To understand about the growth prospects of E-commerce

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 Chapter – 3
Company Profile [Flipkart]

INTRODUTION

Flipkart Private Limited is an Indian e-commerce company, headquartered in

Bengaluru, and incorporated in Singapore as a private limited company. The company
initially focused on online book sales before expanding into other product categories such
as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

The service competes primarily with Amazon's Indian subsidiary and domestic rival
Snapdeal As of March 2017, Flipkart held a 39.5% market share of India's e-commerce
industry. Flipkart has a dominant position in the apparel segment, bolstered by its
acquisition of Myntra, and was described as being "neck and neck" with Amazon in the
sale of electronics and mobile phones

In August 2018, American retail chain Walmart acquired a 77% controlling stake in
Flipkart for US$16 billion, valuing Flipkart at around US$20 billion Flipkart is valued at
$37.6 billion as of 2022 It is planning to go public through a listing in the United States of
America in 2023.

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HISTORY

 Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, alumni
of the IIT, Delhi and former Amazon employees. The company initially focused on
online book sales with country-wide shipping. Flipkart slowly grew in prominence
and was receiving 100 orders per day by 2008.

 Growth, Mergers and Acquisitions

 In 2010, Flipkart acquired the Bangalore-based social book discovery service

WeRead from Lulu.com.

 In 2011, Flipkart acquired the digital distribution business Mime360.com and the
digital content library of the Bollywood portal Chakpak. Following the acquisition,
Flipkart launched their DRM-free online music store Flyte in 2012. Due to
competition from free streaming sites, Flyte was unsuccessful and shut down in
June 2013.

 With its eyes on India's retail market, Flipkart acquired Letsbuy, an online
electronics retailer, in 2012, and Myntra, an online fashion retailer, for US$280
million in May 2014. Myntra continues to operate alongside Flipkart as a
standalone subsidiary focusing on separate market segments.

 In April 2015, Flipkart acquired Appiterate, a Delhi-based mobile marketing

automation firm. Flipkart stated that it would use Appiterate's technology to
enhance its mobile services. In December 2015, Flipkart purchased a minority
stake in the digital mapping provider MapmyIndia.

 the UPI mobile payments startup PhonePe. In 2022, when PhonePe moved its
entire base to India, Flipkart separated the ownership of PhonePe and shareholders
in India and Singapore and the respective shareholders purchased shares of
PhonePe's India entity directly. It was announced that a cash payout of
approximately $700 Mn was to the former and current employees who were
holding PhonePe's shares.

 In 2016, Flipkart acquired the online fashion retailer Jabong.com from Rocket
Internet for US$70 million and

13
 In January 2017, Flipkart made a US$2 million investment in TinyStep, a parenting
information startup.

 In April 2017, eBay announced that it would sell its Indian subsidiary, eBay.in, to
Flipkart and invest US$500 million in the company. While eBay suggested that the
partnership would allow Flipkart to access eBay's network of international vendors,
these plans never came to fruition. In July 2017, Flipkart made an offer to acquire
its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected
by Snapdeal, which was seeking at least US$1 billion.

 Flipkart invested US$4 million in the customer engagement and rewards platform
EasyRewardz on 19 November 2019.

 In 2020, Flipkart Wholesale launched a digital platform for kiranas and MSMEs.
In July 2020, Flipkart acquired a 27% stake in Arvind Fashions Limited's newly
formed subsidiary Arvind Youth Brands for US$35 million. Arvind Youth Brands
owns the Flying Machine brand. Flipkart also announced it will roll out Flipkart
Quick, a hyperlocal 90-minute delivery service for product categories such as
groceries, home accessories, mobile phones, stationery, and more.

 In October 2020, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail
for US$204 million. The following month, Flipkart acquired the intellectual
property of gaming startup Mech Mocha for an undisclosed amount. The
acquisition formed part of Flipkart's plans to gain and retain users by offering
casual games. In November 2020, Flipkart acquired augmented reality company
Scapic, which provides a suite of tools to create and publish augmented reality,
virtual reality, and 3D content quickly and without coding.

 In April 2021, Flipkart announced the acquisition of travel booking portal

Cleartrip.

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PARTNERSHIP

 In February 2014, Flipkart partnered with Motorola Mobility to be the exclusive

Indian retailer of its Moto G smartphone. Motorola also partnered with Flipkart on
the Moto E, a phone targeted primarily towards emerging markets such as India.
High demand for the phone following its midnight launch on 14 May caused the
Flipkart website to crash. Flipkart subsequently held exclusive Indian launches for
other smartphones, including the Xiaomi Mi 3 in July 2014 (whose initial release
of 10,000 devices sold out in around 5 seconds), and the Redmi 1S and Redmi
Note in late 2014.

 On 6 October 2014, coinciding with the company's anniversary and the Diwali
season, Flipkart held a major sale that it promoted as "Big Billion Day". The event
generated a surge of traffic, selling US$100 million worth of goods in 10 hours.
The event received criticism via social media over technical issues experienced
during the event and stock shortages.

 In October 2015, Flipkart reprised the Big Billion Days event as a multi-day event
exclusive to the Flipkart app. Flipkart bolstered its supply chain and introduced
more fulfillment centers to meet customer demand. Flipkart achieved a gross
merchandise volume of US$300 million during the event, with the largest volumes
coming from fashion sales and the largest value coming from mobiles.

 In 2017, Flipkart sold 1.3 million phones in 20 hours on 21 September during its
Big Billion Days promotion, doubling the number sold on the first day of the same
event in 2016. Flipkart held a 51% share of all Indian smartphone shipments in
2017, overtaking Amazon India (33%).

 In August 2019, Flipkart partnered with Authentic Brands to license and distribute
Nautica in India. It was reported the same month that Flipkart entered talks to
invest around US$40 million in last-mile delivery startup Shadowfax, which would
be the company's third investment in the logistics sector after backing BlackBuck
and QikPod. The deal was completed four months later as a US$60 million
financing round. It also launched a reward system called Super coins which

15
 allowed customers to earn points on various Flipkart brands like Myntra, Cleartrip
and Phonepe.

WALMART INVESTMENT

 On 4 May 2018, it was reported that Walmart had won a bidding war with Amazon
to acquire a majority stake in Flipkart for US$15 billion. On 9 May 2018, Walmart
officially announced its intent to acquire a 77% controlling stake in Flipkart for
US$16 billion. Following the purchase, Flipkart co-founder Sachin Bansal left the
company. The remaining management team reported to Marc Lore, CEO of
Walmart eCommerce US. Walmart president Doug McMillon cited plans to help
Flipkart with its sourcing and supply chain, while tapping on its expertise to
expand Walmart globally. Indian traders protested against the deal, considering it a
threat to domestic business.

 In a filing with the U. S. Securities and Exchange Commission on 11 May 2018,

Walmart stated that a condition of the deal prescribed the possibility that Flipkart's
current minority shareholders "may require Flipkart to effect an initial public
offering following the fourth anniversary of the closing of the transactions at a
valuation no less than that paid by Walmart".

 Following the announcement of Walmart's deal, eBay announced that it would sell
its stake in Flipkart back to the company for approximately US$1.1 billion and
relaunch its own Indian operations. The company stated that "there is the huge
growth potential for e-commerce in India and significant opportunity for multiple
players to succeed in India's diverse, domestic market. Softbank Group also sold its
entire 20% stake to Walmart without disclosing terms of the sale. Walmart's
acquisition of 77% stake in Flipkart was completed on 18 August 2018. Walmart
also provided US$2 billion in equity funding to the company.

 On 13 November 2018, Flipkart CEO Binny Bansal resigned after facing an

allegation of "serious personal misconduct". Walmart stated that "while the
investigation did not find evidence to corroborate the complainant's assertions

16
 against Binny, it did reveal other lapses in judgment, particularly a lack of
transparency, related to how Binny responded to the situation

.
 In July 2021, Flipkart launched its social commerce marketplace called Shopsy,
which allowed individuals and small businesses to direct sell and resell products to
customers via social media channels. In December 2021, Shopsy entered the
grocery delivery segment in 700 cities across India. Gujarati language was also
added to their platform in 2021 which resulted in Flipkart being available in 8 local
Indian languages that were Gujarati, Bengali, Odia, Hindi, Telugu, Kannada,
Marathi and Tamil. Shopsy passed more than 100 million users in the month of
September in 2022 with more than 60% of users coming to tier 2 and other cities.

 In April 2022, Flipkart launched its first grocery fulfilment centre in Northeast
India, based in Guwahati. The centre was reportedly women-run to support the
career progression of Flipkart's female employees. The same month, the company
established the Flipkart Foundation to support entrepreneurship and skill
development within underserved communities in India. Flipkart also partnered with
Narayanpet District - also known by its brand name Aarunya in Telangana that is
known for handlooms and handicrafts to build capacity of local women artisans
and have their products available for purchase online. Similarly, the organization
also partnered with Government of West Bengal's Micro, Small and Medium
Enterprises and Textiles (MSME&T) Department to help local artisans, handcraft
makers and weavers to get training and support to sell their products on the
platforms via timebound incubation.

 The total revenue in 2022 was that of ₹43,357 crore was reported for the past fiscal
year of 2020-2021. This was 25% more than its revenue in the fiscal year of 2020.
The losses were reported to have reduced by 23% to ₹2,445 Crore with total
expenses of ₹45,801

 In 2022, Flipkart entered the Non-Fungible Tokens (NFTs) and Web3 segment by
letting the Indian purchasers of Nothing Phone (1) to get Nothing's NFT through
the app called Nothing Community Dots. These NFTs use Polygon blockchain to
host it. The NFT drop happened at FireDrops - which was done on Flipkart's NFT
marketplace, supported by GuardianLink. In October 2022, Flipkart also created a
shopping platform that was metaverse-based, called Flipverse. The platform allows
people to explore products and shop in a more interactive way. The Flipverse has
been created through a partnership with a Polygon-incubated firm called eDAO,
and Flipverse hopes to provide a similar experience to actual mall like shopping
where people would be able to create their own Avatars.

17
  Flipkart also entered the hotel industry for Indian and global market. The Flipkart
Hotels uses Cleartrip API. Flipkart acquired the Cleartrip's business in middle east
by signing an agreement with Wego - an online market place for travel that
operates in middle east and North Africa. This included sale of website Flyin.com.
The ecommerce also started a virtual storefront that is dedicated to academic needs
of students named ‘Flipkart Student’s Club’.

BUSINESS STRUCTURE

 According to a report in November 2014, Flipkart operated with a complex

business structure that included nine firms, some registered in Singapore and some
in India. In 2012, Flipkart co-founders sold WS Retail to a consortium of investors
led by Rajeev Kuchhal. Flipkart's Indian entities are owned by Flipkart Pvt. Ltd,
which is registered in Singapore. The Singapore-registered entity owns eight Indian
companies, including Flipkart Internet Pvt. Ltd, the company that runs the e-
commerce marketplace Flipkart.com, Flipkart India Pvt. Ltd, the wholesale
business, and Flipkart Logistics Pvt. Ltd, which runs Ekart (the internal logistics
arm that can be used by other ecommerce players). Flipkart also started Flipkart
Health+ (through an app) in 2021 that deals into providing medicines and health
services through technology. This was started with the help of getting majority
share in Sastasundar Marketplace Limited - an existing company that already was
providing online pharmacy services.

Notable companies in which Flipkart Group owns a controlling stake

include:

Name Type Since Current stake

Myntra Fashion 2014 100%
Ekart Logistics 2015
Flipkart Wholesale B2B e-commerce 2020 100%
Cleartrip Travel booking 2021 80%
SastaSundar Healthcare 2021 75.1%

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  Flipkart has made 22 acquisitions and 24 investments, spending over US$395M for
the acquisitions.] Flipkart has invested in multiple sectors such as e-commerce,
consumer electronics, local services and more. In 2022, it also revised it's policies
for sellers in an attempt to make it more seller-friendly. This included simplifying
the rate card and reducing fee for return costs.

FUNDING

 The initial development budget of Flipkart was 400,000 (US$5,000). It later raised
funding from venture capital firms Accel India (receiving US$1 million in funding
in 2009) and Tiger Global (US$10 million in 2010 and US$20 million in June
2011). On 24 August 2012, Flipkart announced the completion of its 4th round of
funding, netting a total of US$150 million from MIH (part of the Naspers Group)
and ICONIQ Capital. The company announced on 10 July 2013 that it had raised
an additional US$200 million from existing investors, including Tiger Global,
Naspers, Accel Partners and Iconiq Capital.
 Flipkart's reported sales were 40 million (US$500,000) in the FY2008–09,200
million (US$2.5 million) in the FY2009–10 and 50 million (US$9.4 million) in the
FY2010–11.

 Flipkart reported a loss of 2.81 billion (US$35 million) for the FY2012–13. In July
2013, Flipkart raised US$160 million from private equity investors.

 In October 2013, it was reported that Flipkart had raised an additional US$160
million from new investors Dragoneer Investment Group, Morgan Stanley Wealth
Management, Sofina SA, and Vulcan Inc., with a share of the funding coming from
existing investor Tiger Global.

 On 26 May 2014, Flipkart announced that it had raised US$210 million from Yuri
Milner's DST Global and its existing investors Tiger Global, Naspers, and Iconiq
Capital.

 On 29 July 2014, Flipkart announced that it raised US$1 billion from Tiger Global,
Accel Partners, Morgan Stanley Investment Management, and a new investor,
Singaporean sovereign-wealth fund GIC.

 In December 2014, after it received US$700 million from another round of

funding, Flipkart had a market cap of US$11 billion.

19
 On 20 December 2014, Flipkart announced its filing application with Singapore-
based company regulator ACRA to become a public company. This announcement
came after the company received US$700 million in long-term strategic
investments from more than 50 Indian investors. The US$700 million in funding
raised by Flipkart added new investors to the company's board, including Baillie
Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates, and
Qatar Investment Authority. Its existing investors DST Global, GIC, ICONIQ
Capital and Tiger Global also participated in this financing round. As of May  2015,
Flipkart had raised US$550 million in additional funding from its existing investors
in a deal that raised its total valuation to US$15 billion.

 By August 2015, after raising another US$700 million, Flipkart had raised a total
of US$3 billion over 12 rounds of funding from 16 major investors. In April 2017,
Flipkart underwent another round of funding, receiving US$1.4 billion in funding
from investors including eBay, Microsoft, and Tencent. On 10 August 2017,
SoftBank Vision Fund invested another US$2.5 billion in Flipkart.

 On 19 September 2018, Flipkart Marketplace Singapore injected 3,463 crore into

Flipkart Internet. The transaction was done in two tranches, according to regulatory
filings.
 In March 2021, it was reported that Flipkart was considering the possibility of
going public through a merger with a special-purpose acquisition company (SPAC)
to speed up its listing process in the United States.

 In 2022, the organization started Flipkart Ventures and created a venture fund of
$100 Million to be invested in other 6 start-ups selected for Flipkart Leap Ahead,
an accelerator program. Each start up will be given an equity investment of up to
$500,000. Once the first cohort of Flipkart Leap was completed, the program was
split in two distinct programs known as Flipkart Leap Ahead (FLA) and Flipkart
Leap Innovation Network (FLIN).

REGULATORY ACTION AND LAWSUITS

 In November 2012, the Indian Enforcement Directorate began investigating

Flipkart for alleged violations of the foreign direct investment regulations of the
Foreign Exchange Management Act of 1999 . On 30 November 2012, Flipkart's
offices were raided by the Enforcement Directorate. Documents and computer hard
drives were seized by the agency. In August 2014, the Enforcement Directorate
claimed that it had found Flipkart to be in violation of the Foreign Exchange
Management Act. The Delhi High Court declared that several e-commerce firms,
including Flipkart, had violated foreign investment regulations.

20
  In January 2016, a public interest litigation hearing took place over Flipkart's
alleged contravention of foreign investment norms. The court asked the Reserve
Bank of India to provide the latest circular on foreign investment policy. The same
month, the Department of Industrial Policy and Promotion (DIPP) clarified that it
did not recognise the marketplace model of online retail. In February 2016, Health
Minister J P Nadda announced that the Maharashtra FDA had taken action against
Flipkart, among others, for selling drugs without a valid license.

CONSUMER AFFAIRS

 A group of scammers was arrested by the police in Lucknow in 2022 who used the
platform to scam the customers. The scam included replacing the online ordered
Apple products with bricks to cheat customers and company. Such scams have also
been reported in the past where soaps were delivered instead of iphones on Flipkart
and also on Amazon.

HOUSE BRANDS

 Flipkart operates several house brands, including Citron (home appliances) and
Digiflip (formerly for electronics and accessories). In 2017, Flipkart launched
additional house brands, including Billion (smartphones), Smartbuy (electronics
accessories, effectively replacing Digiflip), and MarQ (for large appliances,
although its launch was complicated by a trademark dispute with an existing
company, Marc Enterprises).

 In 2019, Flipkart began selling Nokia-brand televisions. A 55-inch, Android TV-

based 4K Smart TV was the first product released under that licensing agreement.
A 43-inch TV was unveiled on 4 June 2020.

FLIPKART VIDEO

 Flipkart launched an in-app streaming service called Flipkart Video in August

2019, so as to compete with industry rivals like Amazon who were also offering
premium video options. The initial line up of content was curated from the service
providers like Viu, Voot and TVF.

FLIPKART VIDEO ORIGINALS

 To strengthen its content offering on Flipkart Video, Flipkart forayed into original
content production, known as Flipkart Video Originals. The first show was
21
 launched on 19 October 2019. Named Back Benchers, it was a Bollywood celebrity
quiz show hosted by Farah Khan.

CRITICISM

 On 13 September 2014, a Flipkart deliveryman allegedly molested a housemaid in

Hyderabad. The housemaid's employer sued Flipkart for this incident, citing the
need for regulations to make offline delivery services safer.

 In 2014, competitors such as Future Group (owner of retail chain Big Bazaar at that
time) filed complaints with India's Ministry of Commerce and Industry, alleging
that Flipkart's Big Billion Days discounts undercut prices in a manner predatory to
other retailers. The ministry stated that it would look into the complaints.

 In April 2015, Flipkart faced criticism for being a launch partner in the Airtel Zero
program. Critics alleged that the zero-rating scheme violated the principles of net
neutrality. Flipkart later pulled out of the project.

 In 2015, around 400 delivery executives working with eKart, the logistics arm of
Flipkart, went on strike to protest poor working conditions. Complaints included
seven-day workweeks, extended hours, and a lack of clean toilets and medical
assistance for bike riders involved in accidents. In 2016, delivery executive
Nanjunda Swamy was murdered by a customer who did not have enough money to
pay for a product. In response, Flipkart launched a safety initiative -'Project
Nanjunda', named after the deceased executive. This included an SOS button in the
mobile app (called the Nanjunda button) that could be used by field executives in
case of emergencies.

 Vendors on Flipkart have faced several challenges while doing business on the
company's marketplace, to the extent that some of them have quit the portal. Some
of these challenges include Flipkart's alleged unfair policies towards sellers, the
lack of a competent logistics service, and customer returns that are a result of
consumer fraud.

AWARDS AND RECOGNITION

 Sachin Bansal was awarded Entrepreneur of the Year, 2012–13 from The
Economic Times, a leading Indian economic daily newspaper.

22
  In September 2015, the two founders entered Forbes India's richest Indian by year,
debuting in the 86th position with a net worth of US$1.3 billion each.

 In April 2016, Sachin and Binny Bansal were named to Time magazine's annual list
of the 100 Most Influential People in the World.

 Flipkart was reported to be at top in the annual Fairwork India Ratings 2021 -
which is a 10 point system that creates a score based on fair pay, conditions,
contracts, management, and representation. A total of 11 platforms were evaluated
by a consortium of Centre for IT and Public Policy (CITAPP), International IIIT
Bangalore and global Fairwork network. Methodology included qualitative
interviews with 19-20 workers in Delhi and Bangalore.

See also

 E-commerce in India
 Online shopping

Chapter - 4
ANALYSIS

The Covid19 pandemic also known as the coronavirus pandemic emerged in Wuhan
of China and was given an account of to the WHO (World Health Organization) on
31st December 2019. On 30th January 2020, Public Health Emergency was announced
as a global concern. Covid-19 name was given to this disease on 11 th February 2020.
This disease plays with the immunity of the human beings, Low immunity individuals
are directly affected by this.

The pandemic of Covid-19 is a major pitfall not only for the human’s health or life or
the economic conditions but also on the overall structured society which is not to be
changed to an another extend now. Various new things are introduced during this
pandemic some of which were their before but still were unknown which now have
developed a new scenario.

The National Emergency have not spare anyone each and every sector, each and every
section is being affected by it whether rich or poor. One of the sectors being affected
23
is the E-Commerce. The Transactions of Buying and Selling that is the business
transaction via the route of internet led to the evolution of E-Commerce or broadly as
Electronic Commerce. E-Commerce involves dealing with all sort of goods and
services over the internet. It is also known as the Internet Commerce because of the
way of its functioning online.

The taste, preferences, demand, needs of the consumers are now being shifted from
luxury to the basic ones, from the ones with the most comfort to the ones with the
need of just survival. All this had call for the economizing of all the resources of the
economy. There is a rise in the trust and demand for the E-Commerce industries in
order to be safe, secure and main motive of survival led to this increase.

Understanding of the change in the consumers perspective towards the E-Commerce

is really important not only for the businesses to increase their market share but this
time also for the social well-being.

The Coronavirus disease led to the social distancing which is why the traditional way
of shopping is being neglected in this phase. As going to a crowded place for
shopping
can make you purchase Covid-19 people avoid going that way rather prefer the
convenient and safer option of online shopping.

Methodology

This paper used a survey of 67 people on their perspective as a consumer involved in

online shopping. 9 Questions were asked to them for a clearer picture of the viewpoint
changes of consumer during the pandemic of covid-19 towards E-Commerce.

The Thought process of the world is now changed with the covid19 pandemic which
also bought a change in the lifestyle of people as they are trying to adjust with the new
normal and all this led to give a push to E-Commerce industry as well. Covid19
provided E-Commerce with a new environment so as to expand their footprints with
quite a few challenges to overcome like productivity or the supply chain effectiveness.
Social distancing gave a positive impact on the E-commerce industries growth.
24
The following Table 1 shows the revenue earned by the companies in the Quarter 1 of
the previous and current year that is 2019 and 2020 has witness an increase even
though the economy is facing a downfall.

S.No. Company Revenue 2019 (Q1) Revenue 2020 Increase

(Q1)

1 Amazon 59.7 Billion US 75.45 Billion US 15.75

(USA) dollars dollars Billion US
dollars

2 Alibaba 93,498 Million Yuan 1,14,314 Million 20,816

(China) Yuan Million
Yuan

3 Rakuten 113.9 Billion Yen 140 Billion Yen 26.1 Billion

(Japan) Yen

Table 1

25
The paper studied the perspective of 67 people out of which 70.1% are females and
29.9% males. 11.9% people are below the age of 20 years, 41.8% between 20-30
years,
28.4% between 30-40 years and 17.9% are above 40 years. The survey had 17.9%
Respondents of business class, 20.9% of service sector, 44.8% students and 16.4%
home makers. According to the family income of the respondents 1.5% had below
10k, 10.4% between 10k-20k, 16.4% between 20k-30k, 22.4% between 30k-40k and
49.3% above 40k.

The following Table 2 shows the first two questions asked to the respondents
according to which 73.1% people prefer online shopping and 46.3% people faced
problems while shopping online during covid19.

S,No. Question Yes No

1 Do you Prefer Online shopping? 73.1% 26.9%

2 Did You face any problem with respect to the supply of 46.3% 53.7%
the products while shopping online during covid-19?

Table 2

Further the respondents were asked regarding the change in the frequency of their
purchasing online during covid19.The graph 1 represents that 37.3% ensured that it
has increased whereas 6% shopped online for the first time, 29.9% said there is
decrease in their online purchases and 26.9% believed that there is no change.

26
Graph 1

27
Another aspect that was covered was related to the problem’s consumers faced while
shopping online due to coronavirus breakdown. The Graph 2 represent that 71.4%
faced the issue of late delivery, 23.2% found the hike in prices, 3.6% believed that
their product is not available online and 1.8% received defective product.

What is the problem you faced during cronavirus breakdown While shopping online?

4%2%
23%

Defective Product Late

Delivery High Prices
71% Product not available

Graph 2

The respondents were also asked about the element which influenced them to make an
online purchase. The graph 3 represents that 50.7% found it safer than traditional
shopping, 4.5% found it fast and convenient and 6% were attracted by the Brand
reputation.

Graph 3

28
The respondents were asked about their preference during and after covid19 which
has shown a significant difference. Graph 4 shows their preference during covid19
and graph 5 shows their preference after covid19.

Graph 4

Graph 5

This shows how much e-commerce is evolving even during covid19 pandemic as
people are preferring it more these days, whereas after all this clears more people will
be opting for traditional shopping. One of the reasons for this difference can be the
social distancing which is to be followed during these days.

The E-Commerce is now being opted more than ever it has shown a growth in the
frequency and number of purchases during the pandemic times. As people now
wanted a new and safer way for engaging, entertaining and saving themselves.

29
INDIAN E-COMMERCE INDUSTRY REPORT

Introduction

E-commerce has transformed the way business is done in India. The Indian E-
commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5
billion as of 2017. Much of the growth for the industry has been triggered by an
increase in internet and smartphone penetration. As of September 2020, the number of
internet connections in India significantly increased to 776.45 million, driven by the
‘Digital India’ programme. Out of the total internet connections, ~61% connections
were in urban areas, of which 97% connections were wireless.

Market Size

The Indian online grocery market is estimated to reach US$ 18.2 billion in 2024 from
US $1.9 billion in 2019, expanding at a CAGR of 57%. India's e-commerce orders
volume increased by 36% in the last quarter of 2020, with the personal care, beauty
and wellness (PCB&W) segment being the largest beneficiary.

Propelled by rising smartphone penetration, launch of 4G network and increasing

consumer wealth, the Indian E-commerce market is expected to grow to US$ 200
billion by 2026 from US$ 38.5 billion in 2017. Online retail sales in India is expected
to grow 31% to touch US$ 32.70 billion in 2018, led by Flipkart, Amazon India and
Paytm Mall.

30
In India, smartphone shipments reached 150 million units and 5G smartphone
shipments crossed 4 million in 2020, driven by high consumer demand post-
lockdown.

In festive season CY20, the Indian e-commerce GMV was recorded at US$ 8.3
billion, a significant jump of 66% over the previous festive season. Similarly, the
Indian e- commerce market recorded ~88 million users in festive season CY20, a
significant jump of 87% over the previous festive season.

Investments/ Developments

Some of the major developments in the Indian e-commerce sector are as follows:

 In February 2021, Flipkart partnered with Maharashtra State Khadi & Village
Industries Board and Maharashtra Small Scale Industries Development
Corporation to bring local artisans and small and medium businesses into the e-
commerce ecosystem.

 In February 2021, Zomato entered into an agreement with the Ministry of

Housing and Urban Affairs (MoHUA) to introduce 300 street food vendors on
its portal.

 In February 2021, Flipkart Wholesale, the digital B2B marketplace of Flipkart

Group will offer grocery on its app with an aim to provide kiranas and small
retailers one-stop access to a wide selection of products.

 In February 2021, Udaan, a B2B e-commerce firm, announced to expand its

warehouse capacity (by 5x) to 50 million sq. ft. across several states in the next
7-8 years.

 In January 2021, Flipkart introduced SuperCoin Pay to strengthen its

SuperCoin rewards programme by allowing customers to pay through
SuperCoins at >5,000 retail outlets across the country.

31
 In January 2021, The Khadi and Village Industries Commission (KVIC)
unveiled eKhadiIndia.com, an e-commerce portal, which will comprise
>50,000 products, ranging from apparel to home décor.

 In January 2021, the B2B e-commerce platform, Udaan raised US$ 280 million
(~Rs. 2,048 crore) in additional financing from new investors—Octahedron
Capital and Moonstone Capital. Prior to this, in October 2019, the company
raised US$ 585 million (~Rs. 4,280 crore) from Tencent, Altimeter, Footpath
Ventures, Hillhouse, GGV Capital and Citi Ventures. It is likely to deploy the
latest fund towards continued market creation of B2B e-commerce in India and
digitise more small businesses across the country.

 Flipkart partnered with PayTM for its annual Big Billion Days Sale event in
October 2020, offering customers the convenience of making payments directly
through the latter's application with the bonus of receiving PayTM cashbacks
over and above Flipkart discounts.

 Infibeam Avenues signed a contract with Oman’s second-largest bank, the

Bank of Muscat, to process the bank’s online card transactions of various
payment networks through its digital payment solution—CCAvenue Payment
Gateway Service in November 2020.

 In November 2020, Amazon India announced collaboration with Hindustan

Petroleum Corporation Limited. Under this partnership, customers will be able
to book and pay for their LPG cylinders until the delivery.

 In November 2020, Reliance Retail Ventures Ltd. (RRVL), a subsidiary of

Reliance Industries (RIL), acquired a minority stake of Urban Ladder Home
Decor Solutions Pvt. Ltd. for Rs. 182.12 crore (US$ 24.67 million).

 In November 2020, Flipkart acquired Scapic, an Augmented Reality (AR) firm,

to boost user experience.

 In November 2020, Amazon India has opened 'Made in India' toy store, in line
with the government's ‘Atmanirbhar Bharat’ vision. The store will allow

32
 thousands of manufacturers and vendors to sell toys driven by the Indian
culture, folk tales and toys that promote creative thinking and are locally
crafted & manufactured.

Government initiatives

Since 2014, the Government of India has announced various initiatives, namely
Digital India, Make in India, Start-up India, Skill India and Innovation Fund. The
timely and effective implementation of such programs will likely support growth of E-
commerce in the country. Some of the major initiatives taken by the Government to
promote E- commerce in India are as follows:

 As of February 15, 2020, the Government eMarketplace (GeM), listed

1,071,747 sellers and service providers across over 13,899 product and 176
service categories. For the financial year 2020-21, government procurement
from micro and small enterprises was worth Rs. 23,424 crore (US$ 3.2 billion).

 In a bid to systematise the onboarding process of retailers on e-commerce

platforms, the Department for Promotion of Industry and Internal Trade
(DPIIT) is reportedly planning to utilise the Open Network for Digital
Commerce (ONDC) to set protocols for cataloguing, vendor discovery and
price discovery. The department aims to provide equal opportunities to all
marketplace players to make optimum use of the e-commerce ecosystem in the
larger interest of the country and its citizen.

 National Retail Policy: The government had identified five areas in its
proposed national retail policy—ease of doing business, rationalisation of the
licence process, digitisation of retail, focus on reforms and an open network for
digital commerce—stating that offline retail and e-commerce need to be
administered in an integral manner.

 The Consumer Protection (e-commerce) Rules 2020 notified by the Consumer

Affairs Ministry in July directed e-commerce companies to display the country
of origin alongside the product listings. In addition, the companies will also
have
33
 to reveal parameters that go behind determining product listings on their
platforms.

 Government e-Marketplace (GeM) signed a Memorandum of Understanding

(MoU) with Union Bank of India to facilitate a cashless, paperless and
transparent payment system for an array of services in October 2019.

 Under the Digital India movement, Government launched various initiatives

like Umang, Start-up India Portal, Bharat Interface for Money (BHIM) etc. to
boost digitisation.

 In October 2020, Minister of Commerce and Industry, Mr. Piyush Goyal

invited start-ups to register at public procurement portal, GeM, and offer goods
and services to government organisations and PSUs.

 In October 2020, amending the equalisation levy rules of 2016, the government
mandated foreign companies operating e-commerce platforms in India to have
permanent account numbers (PAN). It imposed a 2% tax in the FY21 budget
on the sale of goods or delivery of services through a non-resident ecommerce
operator.

 In order to increase the participation of foreign players in E-commerce, Indian

Government hiked the limit of FDI in E-commerce marketplace model to up to
100% (in B2B models).

 Heavy investment made by the Government in rolling out fiber network for 5G
will help boost E-commerce in India.

34
Road Ahead

The E-commerce industry has been directly impacting micro, small & medium
enterprises (MSME) in India by providing means of financing, technology and
training and has a favourable cascading effect on other industries as well. Indian E-
commerce industry has been on an upward growth trajectory and is expected to
surpass the US to become the second largest E-commerce market in the world by
2034. Technology enabled innovations like digital payments, hyper-local logistics,
analytics driven customer engagement and digital advertisements will likely support
the growth in the sector. The growth in E-commerce sector will also boost
employment, increase revenues from export, increase tax collection by ex-chequers,
and provide better products and services to customers in the long-term. Rise in
smartphone usage is expected to rise 84% to reach 859 million by 2022.

E-retail market is expected to continue its strong growth - it registered a CAGR of

over 35% to reach Rs. 1.8 trillion (US$ 25.75 billion) in FY20. Over the next five
years, the Indian e-retail industry is projected to exceed ~300-350 million shoppers,
propelling the online Gross Merchandise Value (GMV) to US$ 100-120 billion by
2025.

According to Bain & Company report, India’s social commerce gross merchandise
value (GMV) stood at ~US$ 2 billion in 2020. By 2025, it is expected to reach US$ 20
billion, with a potentially monumental jump to US$ 70 billion by 2030, owing to high
mobile usage.

35
 Chapter - 5
SUGGESTIONS & CONCLUSION

 Close existing digital divides among individuals, for example by expanding

affordable and quality broadband to rural and underserved areas, enhancing
financial inclusion, and fostering trust and the acquisition of skills to participate
in e-commerce.

 Foster e-commerce participation by the most vulnerable, for example by

introducing community-based delivery programmes for elderly and reserved
delivery slots. Ensure that vulnerable consumers are protected from unfair
business practices and unsafe products.

 Support the creation of innovative e-commerce business models, ensuring that

regulatory frameworks remain flexible enough to accommodate combinations
of online and offline business functions. Reduce regulatory uncertainty and
promote transparency through information sharing.

 Ensure that SMEs can participate in e-commerce, for example by providing

policy, regulatory or financial incentives for sales diversification and
establishing a level playing for SMEs relying on the services of online
platforms.

 Reduce bottlenecks in the enabling environment for e-commerce, including

areas such as connectivity, trade, logistics and postal services.

36
 CONCLUSION

E-Commerce industry is that force which cannot be ignored by any element of the
economy. Coronavirus pandemic proved that one of the major tools that can help
consumers during crisis is e-commerce. In order to maintain social distancing and
self- quarantine the consumers have become more reliable on the e-commerce
industry.

In the questionnaire the respondents were asked to rate their experience of online
shopping before covid19 and also during covid19. The graph 6 shows the ratings of
consumers according to their experience before covid19. According to which 35.8%
rated 4 whereas 3% rated 1 and 3.9% as 5.

Graph 6

37
The graph 7 shows the ratings of consumers according to their experience during
covid19. According to which 41.8% rated it as 3, 11.9% as 5 and 4.5% as 1.

Graph 7

The Commanders of E-Commerce needs to figure out the ways and means of not only
surviving but staying ahead for whole of the community. This pandemic led people to
get engaged with technology to deeper extend and so it paved a way for the E-
Commerce growth as well. Electronic Commerce is Intensified by Covid19.

38
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