According to a report, online retail giant Flipkart is planning to shut down its website by the end of this year. Flipkart -owned Myntra, a popular online shopping retailer specialising in clothing and accessories, recently announced it would close its web portal from May 1.
After the reports of Myntra's mobile-only move, there were speculations that Flipkart would follow it. Now a report in The Economic Times confirms this and quotes Michael Adnani, who is vice-president of retail at Flipkart, saying that the company would move to app-only model.
"In the next year or so, we're going to be only mobile," the ET quotes Michael Adnani as saying.
He said the move to go app-only resulted from the growing popularity of smartphones in India. He said that more and more people were shopping through smartphones.
"A year ago, 6 per cent of our traffic was coming from mobile. In less than 18 months, that traffic is 10-fold. That shows the significance of what a mobile phone is doing for the consumers and consequently doing for us," Adnani was quoted.
Online shopping has grown significantly in India in the last year. Quite obviously then e-retailers are looking to find better ways to connect with consumers as well as to generate greater profit.
Flipkart has over 40 million registered users. Over 30,000 merchants sell over 20 million products via this platform which shows the tremendous popularity of e-retail.
India is the third-largest internet market in the world after China and the US and as smartphones get cheaper each day, the number of web users is surely going to spike up in the days to come.
With Flipkart and Myntra going app-only, others in the business may follow suit, but it's still an 'experiment' as Flipkart calls it.