Flipkart was founded in India in October 2007 as an electronic commerce company by two brothers who were formerly working with Amazon. They took a risk of starting the online company in the Indian market which was very reluctant of using websites for shopping. They took the chance of revolutionizing the online shopping experience for Indian consumers and were successful in taking the e-commerce business as the fastest growing sector in India. Flipkart worked on strategies that made the customers feel secure while shopping online and eventually made online shopping an essential part of these consumers.
Since the introduction of Flipkart, many other similar companies have entered the market but Flipkart has the advantage of being the first movers in this industry. Flipkart has an image of being reliable and the consumers view Flipkart as the best e-commerce brand. There are certain elements that help Flipkart to maintain their brand equity:
Brand Awareness
In this era of technology where most of the consumers are looking for online solutions, Flipkart is a brand that remains on the top in India and the target consumers most definitely know about Flipkart. Flipkart offers multiple kinds of products through its website which widens the buyer base even more, thus increasing brand awareness of Flipkart.
Brand Loyalty
Flipkart claims to have 75 million registered users which is a huge number for Indian market where people are still hesitant of using online market. Around 50 million people also have the Flipkart App which they use to conveniently shop at Flipkart any time. Users which are included in Flipkart’s ideal target market are loyal to the brand and have been using their services for years now. The loyalty is further increased when these users successfully purchase anything from Flipkart and they are ensured about the confidentiality of their personal information. This loyal customer base is expected to increase in the future.
Brand Image
Flipkart has the image of being a secure, reliable and pioneer of e-commerce in the Indian market. It appeals to the Indian market because it has the advantage of originating from India as well so people feel that they should use Indian brand. It is the country’s most popular e-commerce brand.
Brand Elements
Flipkart has designed the logo very cleverly as it depicts the purpose of the website and it is also very appealing in a way that the consumers know just by logo that it belongs to Flipkart. Flipkart offers wide range of options of shopping which means they have a wide network of suppliers as well which becomes their asset as they are able to deliver their customers with the best quality of products. Moreover, they offer various ways of payments which helps them provide secure ways of payment and delivery for their customers. This element of the brand is identified by the customers and they think of Flipkart as reliable and secure as it works according to their needs.
All these elements add up to the brand equity of Flipkart and it can be safely said that Flipkart has been successful in building up and maintaining the image of being the reliable and top e-commerce brand in India.
References
Flipkart SuccessStory. Retrieved February 22, 2018, from https://successstory.com/companies/flipkart
Ians. (2016, June 13). Amazon, Flipkart, Snapdeal have highest brand equity: Nielsen. Retrieved February 22, 2018, from http://www.business-standard.com/article/news-ians/amazon-flipkart-snapdeal-have-highest-brand-equity-nielsen-116061300860_1.html
Sen, A. (2017, January 18). Flipkart remains most popular e-commerce brand in India: RedSeer report. Retrieved February 22, 2018, from http://www.livemint.com/Companies/Fr3TRBvk0Cy0bjlUCg1XrJ/Flipkart-remains-most-popular-ecommerce-brand-in-India-Red.html
Smith, C. (2018, February 3). 20 Interesting Flipkart Statistics. Retrieved February 22, 2018, from https://expandedramblings.com/index.php/flipkart-statistics/
Team, A. (2016, June 15). Amazon, Flipkart, Snapdeal top e-tailers with highest brand equity: Nielsen. Retrieved February 22, 2018, from https://www.adgully.com/amazon-flipkart-snapdeal-top-e-tailers-with-highest-brand-equity-nielsen-67293.html