Electronic Commerce or E-Commerce is used to describe transactions of a commercial nature which take place over the internet or World Wide Web. Such transactions necessitate the transfer of information between the parties involved as part of the transaction life cycle.
Over the years, E-Commerce has evolved greatly to become the single most cornerstone of the internet. Consumers are now looking to do their shopping for one-off products online rather than visit a physical brick and mortar establishment. With major e-commerce retailers offering services like home delivery, the need to physically visit a store has declined to a great extent. Consumers can see detailed photos and descriptions online before confirming the purchase through a checkout process. Should one insist on making a physical visit to the retailer, the online website for the retailer will indicate the stock levels on hand and whether sufficient quantities are available so as to avoid a wasted trip for the consumer.
The advent of e-commerce platforms has significantly broken down the barriers to trade, both in terms of time and distance. Consumers can now engage in the exchange of goods and services with online retailers electronically, via the internet. Security protocols in place combined with advanced encryption technologies protect the digital footprint of the consumer while aiding in the fast exchange of both goods and services. The growth of e-commerce platforms has been phenomenal over the last couple of years and this trend is expected to continue in the immediate future. The advent of e-commerce has brought about the development of digital marketplaces on the World Wide Web where retailers get a chance to mix with potential consumers culminating in a mutually beneficial “commercial” transaction.
As far as the Indian sub-continent is concerned, the major player in the e-commerce spectrum is Flipkart. The company provides a range of product categories including consumer electronics, books, music and movies. To augment their digital footprint, Flipkart has both a desktop site which can be accessed online as well as a mobile version. Potential customers need to download the custom “Flipkart” mobile application in order to access the mobile site.
Flipkart has taken into account the demographic profile of India and the fact that more and more Indians are now more digitally connected than ever before. This provides a ready pool of potential customers who are ready to make their purchases online via the World Wide Web.
Having been founded in 2007, the company has grown by leaps and bounds over the years. Even though Flipkart is registered in Singapore, its global headquarters is located in the city of Bangalore, India.
As part of its customer outreach programs aimed at improving online sales, Flipkart has devised an unique promotional event over the last couple of years. Going by the name, Flipkart Big Billion Day, this online sales promotional event is always held in the month of October and lasts for 4-5 days. Coinciding with the popular Indian festival of Diwali, it provides a unique opportunity for Indian customers to buy goods/services at heavily discounted prices for their circle of family and friends. Access is restricted to only verified users logging in through the Flipkart Mobile Application.
Flipkart Big Billion Day 2016 will also feature a multitude of different product categories with heavy discounts available on select product groups for each day of the entire promotional event. In terms of a specific timeline, the Flipkart Big Billion Day 2016 dates are yet to be officially announced but industry insiders feel it is going to be during the second week of October 2016 lasting for 4-5 days.
Flipkart Big Billion Day 2016 will remain an app-only promotional initiative and exclude users from the desktop online site. Huge discounts and promotional offers are expected to cover over 70 different product lines and be applicable on both new products and exchange transactions. Fashion will be a staple offering during Flipkart Big Billion Day 2016 through a tie-up with Myntra specializing in lifestyle clothing for both men and women.
Flipkart is expected to upgrade its technical architecture in anticipation of surging customer traffic during Flipkart Big Billion Day 2016. This necessary upgrade will lead to zero downtime for the e-commerce platform and significantly faster checkout times for the customer.
In terms of logistics, Flipkart has also revamped its supply chain architecture including order fulfillment centers so that deliveries to customers on a pan India basis can be expedited during Flipkart Big Billion Day 2016.Flipkart has also tied up with major partner banks so that customers can avail of additional discounts and cash backs during Flipkart Big Billion Day 2016.