The jury is still out on whether homegrown online retail giant Flipkart’s grand ‘Big Billion Day’ was a success or not.
Launched as a mega online flash sale where the website was giving away products at discounts of up to 90 percent,
the website hit a slew of bad news as its servers crashed , orders got cancelled and in many cases products went out
of stock within minutes. (Even though this did not stop the website from reporting a stupendous single-day sale of about
USD 100 million, or slightly less than a tenth of its total yearly sales tally.) Flipkart rivals such as Snapdeal and Amazon
also tried to steal a march over it by launching their own flash sales, with the former claiming to have notched up sales
of about an equal value. The news got worse with several offline retailers complaining to the commerce minister asking
for the ecommerce business to be regulated, in a communication that apparently conveys that the government may be
asked to look into predatory pricing practices by online retailers.
Read more at: http://www.moneycontrol.com/news/business/flop-or-not-flipkart-flash-sale-to-widen-ecommerce-mkt_1197322.html?utm_source=ref_article
Launched as a mega online flash sale where the website was giving away products at discounts of up to 90 percent,
the website hit a slew of bad news as its servers crashed , orders got cancelled and in many cases products went out
of stock within minutes. (Even though this did not stop the website from reporting a stupendous single-day sale of about
USD 100 million, or slightly less than a tenth of its total yearly sales tally.) Flipkart rivals such as Snapdeal and Amazon
also tried to steal a march over it by launching their own flash sales, with the former claiming to have notched up sales
of about an equal value. The news got worse with several offline retailers complaining to the commerce minister asking
for the ecommerce business to be regulated, in a communication that apparently conveys that the government may be
asked to look into predatory pricing practices by online retailers.
Read more at: http://www.moneycontrol.com/news/business/flop-or-not-flipkart-flash-sale-to-widen-ecommerce-mkt_1197322.html?utm_source=ref_article
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