Perhaps there are very less number of people in India who aren’t aware about Flipkart, India’s leading online retailing company. Flipkart’s foundation was laid down by the two Indian Institute of Technology ( IIT ) Delhi alumni- Sachin and Binny Bansal at Koramangala, Bangalore back in October, 2007.
The idea of launching Flipkart struck their minds while they were working with world’s largest ecommerce company Amazon. Positing Flipkart in the minds of people wasn’t an easy task especially in a time when people hardly had trust on online shopping says Sachin Bansal in one of his interviews. Knowing the ground fact that people in India are extremely resistant towards using their debit and credit cards for online shopping, the duo smartly and wisely executed cash on delivery ( COD ) model to collect payments from customers.
The company started off with selling books online in its initial phase because a book is something that is easy to handle while delivering to a customer. They procured books from local booksellers and even delivered books at the doorsteps of their customers on their own. That time nobody including its founders ever expected that Flipkart could become India’s giant ecommerce company.
The e-retailer continued selling books and it was later in 2008 ( It had then to a great extent dominated the minds of Indian online shoppers ) when Flipkart took the decision of selling other product categories such as clothing, electronics, home appliances etc.
The company’s fast paced growth and increasing popularity among Indian customers in a less time shocked many because a company that in its initial stage hardly used to receive 150 order per day, only after 5 years of time touched record breaking 3 lakh sales per day.