India’s largest e-tailer, Flipkart, has just hit a new milestone clocking Rs 100 crore in gross merchandise value shipped in a month for the first time in June. The jump is from an average of around Rs 42 crore last financial year. Flipkart had clocked Rs 500 crore for the 12 months ended March 31, 2012, though it would have clocked much lower sales in the early part of FY12 and so the growth rate over the same month last year would be in multiples.
We had reported earlier, how the company is looking to spin a profitable growth, rather than just revenue growth going forward, though we don’t see any timelines yet to make that happen.
The overall gross revenue growth rate will most likely dip this fiscal after the firm saw sales rise tenfold in FY12 from FY11. The company had earlier said it is eyeing $1 billion in sales by 2015, though the company’s co-founder had since then said the firm might hit the mark a year earlier.
Meanwhile, the number of daily orders has hit 25,000 mark (or seventeen orders per minute), a five-fold rise after the company clocked 5,000 orders a day for the first time in May 2011. The company’s top management had set a target of 20,000 orders a day back then, to be achieved before July this year, a source privy to the developments told Techcircle.in. Flipkart first clocked 1,000 orders a day in March 2010.
When contacted Ravi Vora, VP- marketing, Flipkart confirmed that the firm has hit Rs 100 crore sales mark in June. He said Flipkart has over 4 million registered customers and the total number of shipments stands at 45,000 a day.
Earlier, VCCircle had reported the company ended FY12 with an average of 17,730 products shipped every day, or 739 every hour, or over 12 products shipped every minute. Since then, Flipkart has added new product sections including toys, health & beauty, watches, belts, bags & luggage, Flyte digital music store pens & stationery etc.
It hit new milestones even as it acquired and soon shut down electronics e-tailer Letsbuy
According to Techcircle.in sources, Flipkart is now signing in additional 10,000 registered customers daily and the company’s top management has set a target of hitting a lakh orders a day!
Keep a track of this space to know new things Flipkart is up to, in order to achieve its $1 billion target.
(Edited by Prem Udayabhanu)