DATA ANALYSIS AND INTERPRETATION1) MAKE THE COST OF THE PRODUCT LESS PAINFUL FOR THE CUSTOMERThe value of a rupee for each consumer is different, that is, in economic terms it is said that the The marginal utility of money for each consumer is different. Therefore it is difficult for the marketer to force consumers to spend their money. Before Flipkart, e-commerce was done through credit/debit cards, where payment had to be made at the time of ordering. Offering high discounts (which is common in e-commerce) many consider risky and a potential fraud. Well, it's in the Indian mentality. Nobody likes to pay the entire payment up front! Here retailers should know that delaying payments can significantly increase consumers' willingness to purchase. Flipkart was the first to introduce the 'Cash on Delivery' system in e-commerce. It simply means that you have to pay cash only when you receive the ordered product. Flipkart simply understood the Indian mindset, which did wonders for them. Cash on delivery built trust in people who were tired of making online payments by revealing card numbers. Cash or card payment on delivery accounts for 60% of Flipkart's sales. Offering a vast inventory of securities such as a 30-day replacement guarantee, cash or card delivery option, home delivery, has made online shopping more convenient and reliable for consumers.2) POWER of the word “FREE ": Consumers may not understand why retailers offer buy-one-get-one promotions even if they aren't better for consumers. Economist Alex Tabarrok argued that “the success of this promotion lies in the fact that the price actually takes into account the fact that two items are being sold.” This strategy... middle of paper... aimed at providing great customer service. Flipkart customers are happier than some of their competitors like Tradus.in, Indiaplaza.com. So the learning experience for other sites could create amazing experiences for their customers. This will improve customer retention rate and create brand loyalty in the minds of customers.3. Another success mantra is to continuously innovate products. Flipkart had initially started selling only books and has since added a wide range of titles to its product range.4. The shipping model and its robust logistics have differentiated Flipkart from other e-commerce sites. Therefore other e-portals should focus very well on demand-based procurement and its logistics. The best thing that e-portals need to understand is that to succeed in India, they need to be the gods of distribution.
tags