Flipkart to Use Analytics, Market Data to Help SMEs Scale Up Business
Homegrown online marketplace giant Flipkart today announced a tie-up with small and medium enterprise (SMEs) promotion bodies to boost manufacturing and entrepreneurship in the country.
The company signed a Memorandum of Understanding (MoU) with industry body promoting SMEs Federation of Indian Micro and Small and Medium Enterprises (FISME) and handicraft design promotion body National Center for Design and Product Development (NCDPD).
The Bangalore-based firm will provide micro, small and medium entrepreneurs in India infrastructural support in data analytics, marketing and customer acquisition to help them scale their business, Flipkart marketplace vice president, Ankit Nagori said here.
"We are excited to partner with FISME and NCDPD to create a powerful affiliation that will enable 50,000 SMEs and artisans become self-reliant, improve their living standards and scale their business manifold," he added.
The move will not only help Flipkart in expanding its seller base and brand name across the SME landscape in India but also help the small and medium firms and artisans to become up-to-date with the changing market requirements.
"With the help of strong data analytics that forms the base of e-marketplaces, it is easier for sellers to improve their products and services, thereby attracting more customers," Mr Nagori said.
Flipkart aims to help FISME and NCDPD make optimal use of available data to guide entrepreneurs and artisans on areas like deciding on the right selling price, payment automation, proper packaging, transportation, brand building, he added.
FISME secretary general, Anil Bharadwaj said: "It will help MSME's sell their products directly to buyers across the nation and this will create huge employment opportunities even in the ancillary industries and reduce the migration of rural population to the urban areas".
The focus of this association will be to continue to help entrepreneurs create products in tune with buyer requirements and grow significantly so that they may become manufacturers not only at a local but also at a national level, he added.
"Analytics and market intelligence provided by Flipkart will assist NCDPD in improving our product R&D to help the artisans and master craftsmen create better saleable product ranges," NCDPD executive director R K Srivastava.
This in turn will help them plan their production and expand their business, revolutionising manufacturing in India, encouraging entrepreneurship and growing the rural economy, he added.
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