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Friday, October 25. 2019

What innovations did Flipkart bring ... Posted by Keshav Jain in Big Business, General Knowledge at 08:41

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What innovations did Flipkart bring to the field of e-commerce?

Flipkart is accredited for innovations that served as a model for other retailers that made online purchases simpler. Flipkart was the first to introduce the system of ‘Cash on Delivery’. This payment method allowed the customer to pay the bill when the shipment was delivered and was later adopted by many other e-retailers.

Flipkart did understand the possibility of a customer not liking the product he purchased. So, they offered a 30-day return policy. This allowed the customer to return the purchase in case of damage or lack of satisfaction. Flipkart continued innovations with the delivery systems by introducing novelties like same day delivery and scheduled delivery.

In 2012, Flipkart shook the markets with the introduction of its mobile shopping app. Within four years of introduction, it became the first Indian mobile app with more than 100 million registered users.

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Friday, October 25. 2019

Who is the master brain behind Baggit? Posted by Keshav Jain in Big Business, General Knowledge at 08:36

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Who is the master brain behind Baggit?

Within twenty five years of its establishment, Baggit has become one of the most sought-after brands in women’s handbags. Though Baggit entered into the world of big business, none of it was planned. It all happened because Nina Lekhi, the woman behind Baggit failed in the first year University exam!

A depressed Nina started taking a course in designing to keep herself occupied. Meanwhile, she also worked as a part-time sales assistant in Mumbai. During this period, she started designing canvas bags with colourful patterns. Nina herself had different bags for different purposes. Though it was tough convincing the shop owner to display her products, she made it happen eventually and her products began to gain popularity. Like one of her friends, Nina began exhibiting her bags for exhibitions.

She was quick to realize the demand for trendy, yet functional bags and was not late to bring out her brand-Baggit. She retailed her bags to established stores before she opened an exclusive store. That’s when she faced her second grand failure; Nina’s first store was a flop and she lost all the money she invested. She started over again and now, her bags are sold in more than 90 cities.

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Friday, October 25. 2019

Who are the founders of Flipkart? Posted by Keshav Jain in Big Business, General Knowledge at 08:36

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Who are the founders of Flipkart?

When Sachin Bansal and Binny Bansal met for the first time, little did they know that they would create one of the biggest Indian e-commerce platforms. Both were alumni of IIT Delhi and worked for Amazon. In 2007, Sachin and Binny quit their jobs to begin their start-up.

Sitting in their tiny apartment in Bangalore, they launched Flipkart. It started as an online bookstore that promised to deliver books upon orders, much like Amazon. Days later, their first order was placed from Mahbubnagar.

Twenty orders followed the first one, which put them in business. By 2009, Flipkart started gaining reputation. The company expanded, introducing innovations, hiring more employees, delivering more orders and expanding across India.

Gradually, their shipping categories expanded to include cameras, computers, laptops, large appliances, health and personal care products, and stationery. Within twelve years of its establishment, Flipkart became one of the biggest companies in India. 77 per cent of its shares are now held by Walmart.

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