BackFlipkart saw strong GMV growth in December quarter: Walmart's Judith McKenna
Indian e-commerce is evolving from trialist to loyalist customers, says Flipkart’s Krishnamurthy
PremiumBengaluru: India and Mexico were two of the top performing markets in 2020 outside U.S for Walmart Inc., with e-commerce firm Flipkart and digital payments firm PhonePe benefiting from accelerated digital adoption in the country, said a top Walmart executive.
“It’s been two and a half years since we invested in Flipkart, and as we enter 2021, Flipkart is a rapidly growing e-commerce platform with a market leading position in categories like fashion, electronics and appliances and a promising adtech and wholesale business," said Judith McKenna, president and CEO, Walmart International.
McKenna was speaking at Walmart’s virtual 2021 Investment Community meeting on Thursday.
While Flipkart gross merchandise value (GMV) was impacted by the 53-day lockdown period in the first half of the year, its business rebounded and it exited Q4 (December quarter) with GMV roughly double that of the full year," McKenna said.
Kalyan Krishnamurthy, CEO, Flipkart Group said India as an e-commerce market is evolving from trialist to loyal consumers and the company has taken on the challenge to have a strong value proposition for a loyalty program.
“The Flipkart Plus loyalty program is one very big priority. Second is grocery as a category is something we want to strengthen. Fashion is a very big category in India and is under-penetrated digitally, so we want to actually capitalize on that opportunity. Finally, technology and infrastructure will be two very big investment areas," said Krishnamurthy.
Given the challenges 2020 threw up, Krishnamurthy said it was a year “when we got closer to seller partners, closer to our consumers, employees, brand and finally, more financially prudent."
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