The company has not announced its monthly users, which, considering Amazon's marketing strategies, could be much lower than the 100 million user claim, Business Standard reported. Flipkart had announced that it was close to the 75 million user milestone (excluding users of its fashion units-Myntra and Jabong) in March this year. Chief Executive Officer and Co-founder of Flipkart, Binny Bansal, said, "This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination."
At a company meeting last month, Bansal told employees that Flipkart was more concerned with the fact that the market is not growing than how "we are doing against Amazon". The announcement comes at a time when reports of a declining rate of new online shoppers have emerged. Citing a Bank of America Merrill Lynch report in September, Flipkart claims it still dominates the e-commerce segment with a 43% share. But global giant Amazon, with its $3billion backing for its Indian venture, has seen its market shares rising. Amazon reportedly beat Flipkart (not including Myntra and Jabong) in June and July in terms of the value of products sold.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!