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Flipkart starts seller initiatives in quest to double fashion sales

  • Flipkart,
    aiming to double its apparel sales by March 2017, will use insight gained from
    predictive analysis and machine learning to provide inputs on the latest
    fashion trends and consumer preferences to sellers, the
    Mint reported.
  •  
  • The
    initiative will enable sellers, especially those with annual sales of less than

    • Flipkart,
      aiming to double its apparel sales by March 2017, will use insight gained from
      predictive analysis and machine learning to provide inputs on the latest
      fashion trends and consumer preferences to sellers, the
      Mint reported.
    •  
    • The
      initiative will enable sellers, especially those with annual sales of less than
      Rs 20 crore, plan their inventory efficiently and list popular products.
    •  
    • For
      Flipkart, which adds as many as 1,000 brands and sellers every month in the
      fashion category, it is important that merchants understand what consumers
      want. This is because Flipkart itself cannot hold inventory since the company
      cannot sell products on its own, as it violates the country’s foreign direct investment
      (FDI) norms.
    •  
    • Indian laws
      bar foreign investment in e-commerce websites that sell directly to consumers
      but allows in marketplaces that link sellers and buyers.
    •  
    • Flipkart,
      which acquired Myntra for about $350 million in May last year to boost its fashion
      business, is also adding layers of so-called social commerce.
    •  
    • Flipkart has
      introduced Ping, a chat service where consumers can discuss and buy products,
      as well as the image search feature on its app, said Rishi Vasudev,
      vice-president for fashion retail at Flipkart.
    •  
    • Incidentally,
      Myntra is also increasingly focusing on user engagement through a
      community-driven approach.
    •  
    • Such
      initiatives will help Flipkart sustain the 12-15% month-on-month growth in the
      fashion category, said Vasudev. Rishi Vasudev, who was earlier the chief
      executive officer at Calvin Klein India, joined Flipkart in November last year.
    •  
    • “If I know
      that print is going to be big next season, I can feed that information to my
      sellers and help them develop those products,” said Vasudev.
    •  
    • “In fashion,
      you can’t make things which have sold well because by the time you move into
      the next season, the fashion trend would’ve changed, unlike the other
      categories,” he said.
    •  
    • Flipkart
      will also connect merchants with suppliers of fabrics, among others
      initiatives, to streamline production, and help them access capital through
      tie-ups with financial institutions.
    •  
    • The company
      has also rolled out initiatives such as thematic stores (Flipkart, at present,
      has three: travel, women, and sports and fitness) to engage targeted consumers
      with content and style tips, and is looking to add to the current count of 15
      brand stores as well as premium stores for brands such as GANT, Quicksilver and
      Kenneth Cole.
    •  
    • It will also
      look to recruit large format retailers to sell on its website to boost
      offering.
    •  
    • Shoppers
      Stop and Pantaloons already sell through Flipkart.

     

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