It is not everyday that one gets to see self-immolation attempt of this magnitude by a business entity which has almost redefined all rules of retailing in India. A company which was bellwether of e-commerce industry in India this morning is labeled as the biggest scamster Indian e-commerce industry has seen by this evening. What a fall and what a fail, whether you say with # or without, a failure of this magnitude is going to hurt Flipkart in a very significant multidimensional way. Flipkart stands exposed and their all actions and absence of them would be under detailed scrutiny from this day onwards.
There are hundreds of reasons and theories floating around about why Flipkart got it so horribly wrong, I may not agree with all being said but I surely agree that quite a few heads need to roll in Flipkart for this debacle. CEO, CMO and CTO, all three must do an introspection on account of – lack of sensitivity, foresight and immaturity in handling “big risk bigger business” initiative.
Here are a few pointers:
10. Product Selection was not balanced, it didn’t factor user choices and was too confusing and unconvincing. There was a rush for a few brands where products were well established nut they didn’t have adequate numbers to keep the excitement on.
Can Flipkart survive this debacle? I think it would. It is quite likely that they would get serious inputs from funds which have invested heavily in them. Flipkart is likely to take back a few steps and start running again.