What’s happening? As the world’s largest messaging app’s ecommerce plans take off in India, conversational artificial intelligence (AI) platforms such as Haptik, Yellow.ai, Gupshup and Verloop.io are busy creating chatbots for brands to sell products to customers. WhatsApp is getting into ecommerce in earnest, and chatbot makers couldn’t be happier. Is the business exactly where you want? Is the market right? All those things have to figure into what you do with an IPO," Biggs said. Just like everything else it's the timing. An IPO is still very much on the cards for that business. "The (Flipkart) business is performing almost exactly like we thought it would. No IPO timeline: Walmart chief financial officer Brett Biggs said there was no specific timeline for Flipkart's initial public offering, even as the online retailer is on its path to profitability, we reported on Wednesday. Tata-owned BigBasket is the largest player in the space, which also includes Zomato-backed Grofers. Eventually, both sales kicked off on October 3.įighting on all fronts: Flipkart and Amazon India are also building their online grocery businesses across India. Both firms changed the starting dates of their flagship sales over the course of a single weekend to ensure their sale didn’t start after the other’s. Recap: This year, both Flipkart and Amazon India reacted to each other’s sales moves almost instantly, showing how intense the competition was. PGA Labs estimates that the size of India’s ecommerce will increase to $60 billion in FY22 and to $75 billion in FY23. For Amazon India, its estimates are $18 billion in FY22 and $15 billion in FY21. PGA Labs estimates that Flipkart Group’s GMV will be around $22 billion in FY22 and was around $18 billion in FY21.
Amazon India, meanwhile, accounted for 32% of total sales, compared with around 25% last year.įestive king: This gap, while noteworthy, shrinks when the annual GMV is considered. The Flipkart Group, including fashion portal Myntra, bagged a market share of around 60% during this year’s Diwali sales, according to data from PGA Labs.
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