Flipkart, India’s homegrown e-commerce marketplace, has launched ‘Flipkart Commerce Cloud’, which offers retail technology solutions for International retailers, marketplaces and e-commerce platforms. The company aims to help retailers across the world grow their business and solve business needs through intelligent and AI driven solutions. The suite of solutions comprises the entire marketplace technology stack out of a box, retail media solution, pricing solution, inventory management and forecasting solutions among others. Each solution is built using Artificial Intelligence and Machine Learning, and is scale-tested at Flipkart every day. These solutions help emerging retailers enhance their business in a reliable and secure way. Flipkart is leveraging its extensive e-commerce experience, deep industry knowledge, and 15 years of technology prowess to launch this suite of Retail solutions for global markets.
Anand Lakshminarayanan, Senior Vice President, Shopping Experiences & Commerce Cloud, Flipkart, said, “Flipkart is built on the foundation of technology and innovations that created Indian e-commerce from scratch and is today helping millions of consumers and hundreds of thousands of sellers & brands experience the benefits of online commerce. Having served Indian customers, and one of the most complex retail markets in the world, we have built and scaled technology solutions that work seamlessly beyond social and economic barriers. Flipkart Commerce Cloud is a testament for the “Made in India” story – technology that was built for India and now available for the global retail market. We are confident that these scale-tested, robust solutions will help enterprises across the globe with their digital transformation in e-commerce, scale their business and deliver new customer experiences.”
As more brands and retailers move towards omni-channel distribution, they are seeking intelligent retail solutions that can help them maximize their sales and boost their online performance. Flipkart Commerce Cloud aims to equip global businesses with robust technology solutions that help them create personalized experiences driving greater operational efficiencies and profitability.
Flipkart Commerce Cloud currently offers three business solutions which are being used at Flipkart to serve millions of requests every day. The solutions are:
Marketplace Technology Stack
The latest offering is the full marketplace stack that helps online and offline retailers and brands launch or scale an online marketplace with the advanced capabilities of a mature digital platform. The well rounded solution has more than 40 plug and play components including Catalog, Personalization, Merchandising and Recommendations engines, OMS, Seller Management, Inventory and Warehousing technology. These modularised solutions can boot strap or accelerate a retailer’s online journey to help them grow exponentially.
Retail Media Solution
An ads engine built from the ground up that understands the online shopping journey of users, and their current shopping intent and places relevant, personalized ads using advanced AI/ML algorithms. The solution has been already adopted by big retailers across the world and is proving a highly successful solution in increasing ad monetisation revenues for them.
Retail Pricing Manager
Flipkart pricing manager is a cloud based SaaS offering for retailers to understand competitive pricing strategies and optimize pricing to maximize margins and volumes. It helps track, compare and analyze competitor price changes in real time and uses machine learning models to learn price elasticity of demand from historical sales data. This combined with game theory helps the pricing engine predict how customers will respond to each price change.
In India, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s e-commerce revolution. It has a registered customer base of over 500 million, with more than 150 million products across 80+ categories. Working in a diverse, rapidly growing market, the company has invested in developing deep technology offerings that have helped provide brands and sellers insights to make their e-commerce journey stronger and safer.
Flipkart Commerce Cloud has already marked its presence internationally and has active customers in North America, South America, MENA, Africa and Europe.