Flipkart Initiates New Schemes To Increase Profit
"We know something about the most important decision that a consumer makes, that is purchase”, said Mekin Maheshwari, Chief People Officer at Flipkart.
New team is being hired to explore opportunities in this advertising initiative. Creating advertisements relevant to both customers and advertisers is the goal. "The initiative is broader than just Flipkart and may not be completely online," said Maheshwari. "We will enable emerging brands in India to carve out their Internet strategy."
Flipkart aims to increase the small and medium business sellers on its platform to 1 lakh in the next 12 months, from30, 000 at present.
Vivek Wadhwa, a fellow at Stanford Law School and Director of Research at Duke University, doesn't think this initiative of Flipkart is a right strategy.
"This is a mistake that many Indian companies make: try to become conglomerates in several businesses. It has worked for a few old line companies but does not work in the Internet space. Here you need to focus and execute with precision," Wadhwa said.
According to Nomura, Flipkart is projected to reach $43 billion in value by 2019.
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