Latest News

E-commerce company  Flipkart  has acquired 100 per cent stake in  Walmart India  Private Limited, which operates the Best Price cash-and-carry business. Flipkart  said it would leverage the strong wholesale capabilities of the company and enable growth for kiranas and MSMEs (micro, small and medium enterprises). With this acquisition, the Bengaluru-based firm announced the launch of  Flipkart  Wholesale, a new digital marketplace that will help transform the kirana retail ecosystem in India by leveraging cutting-edge and locally developed technology. “As the e-commerce pioneer in India, the Flipkart Group has transformed the shopping experience for millions of Indian consumers. With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group. Read Complete Article

Flipkart  has launched a new payment method that lets customers pay some amount for a product and the balance on delivery, aiming to reduce returns and cancellations. The Walmart-owned e-commerce giant, in an email to sellers, said ‘Part-Payment’ would encourage pre-paid transactions. Customers can pay the remaining amount in cash when a product is delivered or either by online transaction. The rate card will remain the same for 'part payment' orders. E-commerce websites allow customers pre-paid, post-paid (cash on delivery) or EMI (equated monthly instalment) as options to purchase products. Most customers choose cash on delivery (CoD), which results in higher units or GMV (gross merchandise value) but risks  companies  a higher risk of cancellations. Flipkart  told sellers ‘Part-Payment’ would help them get higher GMV growth and reduce cancellations. The company, which this week received a $1.2-billion investment from Walmart, works with over 200,00...