First published on http://www.business-standard.com/
Bookshops have already become few. Sachin Bansal-led Flipkart, which was launched as an online bookstore in 2007 and diversified into other categories later, was named the single largest book retailer by a Nielsen survey recently, ahead of traditional booksellers like Crossword. Books last year accounted for 20-25 per cent of Flipkart’s sales in volume and 15-20 per cent in value, Bansal had earlier told Business Standard.
As for electronics, according to analysts, Flipkart’s sales last Diwali were higher than those of any brick-and-mortar store in the country. Similar trends have been seen in developed markets like the US, too: Radio Shack, an American chain of electronic retail stores, recently announced it was closing fifth of its 5,000 stores after running losses.