Flipkart says it now has more than 100 million registered users
The Indian e-commerce platform said it was the first firm outside USA or China to achieve this record.
Flipkart on Wednesday said its consumer base has increased by 33% in the past six months to 100 million registered users, despite tough competition from global e-commerce giant Amazon, Business Standard reported. India's largest e-commerce marketplace said its consumer base makes up 63% of all broadband internet users in India. It claims it is the first company to achieve this ranking outside the United States or China.
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.