In order to do its bit to make the Indian marketplace ecosystem better, on Tuesday, online retailer Flipkart said that it aims to help over 10,000 sellers generate business worth INR 10 lakh via its platform this year.
Revealing the plan, Flipkart SVP marketplace Ankit Nagori said in a statement that, “We are confident that 2015 will see more sellers joining the e-commerce ecosystem, thus creating at least 10,000 more millionaires within the Flipkart marketplace, especially from the tier II and III cities in India.”
Last year, the company had over 2,000 sellers, and in December 2014, Flipkart alone saw over 500 sellers doing an average business of INR 10 lakh each, while 50 sellers did an average of INR 1 crore each. Apparels and consumer electronics categories have the most number of sellers who have crossed the millionaire mark followed by sellers of home decor, jewellery, handicrafts and large appliances.
To help sellers create and expand their brands, Flipkart initiating several steps like hosting workshops/sessions, SME training programmes, offering working capital assistance and providing marketing support services. To help Indian MSMEs leverage the online marketplace platform, the company had made partnership with government bodies like Federation of Indian Micro and Small and Medium Enterprises (FISME), Director General Employment and Training (DGET) and National Institute of Fashion Technology (NIFT) in 2014.
While we do see a resentment from the sellers against the marketplaces for different reasons, it isn’t clear how many of the marketplace sellers are actually satisfied by different seller aggregators in the online space. Since online retail is a small fraction of the USD 500 billion retail industry in India, there is a lot of potential waiting to be unlocked. The marketplaces have an endless number of sellers they can acquire and bring online. Hence, it is important for them to educate these manufacturers, retailers, distributors to convert them into loyal sellers on the portal.