Flipkart Reportedly Exploring New Ventures
Walmart-owned Flipkart is reportedly exploring business opportunities beyond its core e-commerce and quick commerce operations. While specifics remain undisclosed, the move suggests intensifying competition for consumer spending as major players expand into adjacent markets.
- Flipkart recently launched its own UPI handle, @fkaxis, in partnership with Axis Bank, initially for Android users. This service can be used for payments both on and off the Flipkart marketplace and is aimed at increasing the company's role in the digital payments ecosystem after separating from PhonePe. - The company is reportedly exploring an entry into online food delivery, with a pilot program being considered for Bengaluru. Flipkart is evaluating whether to launch a standalone app or to build a service linked to the Open Network for Digital Commerce (ONDC). - In the health sector, Flipkart launched Flipkart Health+ after acquiring a majority stake in online pharmacy SastaSundar.com. The platform aims to serve 20,000 pin codes, offering medicines and healthcare products from over 500 independent sellers. - To capture the "hyper-value" e-commerce market, Flipkart launched Shopsy in July 2021. Shopsy operates on a zero-commission model, targeting consumers in Tier 2 and Tier 3 cities with products often priced under ₹300. - In April 2021, Flipkart acquired the online travel agency Cleartrip for approximately $40 million, retaining it as a separate brand. This move provides Flipkart's customers with access to travel booking services and integrates with Flipkart's SuperCoins loyalty program. - Google has become a minority investor in Flipkart, contributing around $350 million as part of a larger funding round led by parent company Walmart. This investment values Flipkart at approximately $35-36 billion and is expected to help modernize its digital infrastructure. - In August 2023, Flipkart introduced Spoyl, an in-app fashion platform targeting Gen Z consumers, who make up over 25% of Flipkart Fashion's customer base. - To enhance user engagement, Flipkart has integrated AI and video features, including an AI-powered shopping assistant named "Flippi" and a video-integrated shopping experience called "Vibes".
