1) MAKE THE PRODUCT’S COST LESS PAINFUL TO THE THE CUSTOMER
The value of a rupee to each consumer is different, i.e in economics terms it is said that marginal utility of money for each consumer is different. Therefore it makes it difficult for the marketer to make consumers part with their money. Before Flipkart, e-commerce was done by credit /debit cards, where the payment had to be done on the time of placing the order. Offering high discounts (which is a common in e-commerce) many considered this risky and a potential fraud. Well, it's in the Indian mentality. No one likes to pay the entire payment in advance! Here retailers should know that delaying payments can dramatically increase consumer’s willingness to buy.
Flipkart was the first to introduce the 'Cash on Delivery' system in e-commerce. It simply means that you have to pay by cash only when you receive the ordered product. Flipkart just understood the Indian mentality, which worked out wonders for them. Cash on delivery vreated trust in the minds of people who were weary of making payments online by disclosing card numbers. The cash or card on delivery accounts for 60 per cent of the Flipkart sales. Offering a varied inventory of titles like a 30-day replacement guarantee, cash or card on delivery option, delivery at door step, made online shopping more comfortable and reliable for consumers.
2) POWER of the word "FREE":-
Consumers may not understand why retailers offer buy-one-get-one free promotions even though it’s no better for the consumers. Economist Alex Tabarrok has 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 ...
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...rmined to provide great customer service. Flipkart customers are happier than with some of their competitors like Tradus.in, Indiaplaza.com. Therefore the learning experience for other sites could be build amazing experiences for their customers. This will enhance their customer retention rate and create a brand loyalty in the minds of the customers.
3. Another success mantra is continuously innovate products. Initially Flipkart had only started selling with books and since then it has just been adding huge range of titles to its product range.
4. The consignment model and its robust logistics have set Flipkart apart from other e-commerce sites. Therefore other e-portals should focus on procurement based on demand and its logistics very well. The best things e-portals need to understand is that to be successful in India, they need to be the gods of distribution.
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