Revenue of online store Flipkart FY 2014-2023

Flipkart Private Limited reported a revenue amounting to over 560 billion Indian rupees in financial year 2023. Additionally, the e-commerce player had an increase of nine percent in its revenue, compared to the previous year.

Online marketplaces in India

Along with a rising internet penetration rate in India, the number of digital buyers rose linearly. The rise of e-commerce the country goes hand in hand with the expansion of online marketplaces. Although marketplace shipping continues to be the most popular shipping method, direct-to-consumer shipments continued to grow in terms of share of e-commerce shipments.

Flipkart as Amazon’s competitor

As the global e-commerce player Amazon ranks first in terms of net e-commerce sales, with Flipkart close behind. In 2018, American retail giant Walmart acquired the home-grown retailer for 16 billion U.S. dollars and became a 77 percent-stakeholder. Flipkart’s product portfolio is widespread, standing out in the online sales of apparel with more than 75 percent of buyers purchasing apparels on the Bengaluru-based player. Its continued growth led to plans of an initial public offering (IPO) in the United States by the end of 2021.