India’s great ecommerce wars are well and truly on, and the three main players – Flipkart, Amazon and Snapdeal – are battling it out for a share of the Indian comsumer’s attention this festival season. Flipkart’s much vaunted Big Billion Day sale around the corner, and all eyes are on the event after the fiasco last year when the sale had left thousands of customers angry and the company had to issue an apology for the site crashing during the event.
Flipkart is dealing with a bit of a PR crisis of late. Back when it launched in 2007, the internet was inundated with reviews that gushed about its customer service, its superfast deliveries, and how it brought the world of retail to our doorsteps. People were unanimous in their appreciation for the company, and Flipkart grew by leaps and bounds, becoming the $16 billion behemoth it is today.
But Flipkart Chief Product Officer Punit Soni seems to believe that there’s more to these threads than meets the eye.
Punit’s move back to India enables him to have a fascinating perspective into India’s startup journey. Having left India when there was no startup scene here to speak of, and having seen Silicon Valley’s tech scene first hand, when he speaks about India, you listen.
And he’s just predicted a correction in the Indian startup market.
Amit Bhawani wanted to solve a $100 billion problem that had been vexing business insiders, industry watchers and casual consumers alike. He wanted to get a handle on the e-commerce space in India and understand which of the two stalwarts, Amazon and Flipkart, was doing better. He chose a rather unconventional way to go about this. Instead of poring over balance sheets and decoding graphs with GMV figures, he went straight to the consumer – he set up www.FlipkartVsAmazon.com.