Flipkart: revenue growth 2023

In the financial year 2023, Flipkart Private Limited recorded revenue growth of nine percent, indicating a notable decline in performance within the Indian market. Back in 2018, the American retail giant Walmart acquired this home-grown retailer for a substantial sum of 16 billion U.S. dollars, securing a 77 percent stake in the company.

Evolving D2C market

The landscape of India’s direct-to-consumer(D2C) market is undergoing a transformation, reflecting the shift in consumer preference and purchasing behavior. By 2025, the D2C market is set to grow threefold, surging to a valuation of 100 billion U.S. dollars. Notably, the fashion and accessories segment emerged as a frontrunner, commanding a significant share in the D2C landscape.

Digital shoppers in India

Leveraged by a growing internet user base and robust online infrastructure, India holds immense potential in the realm of digital commerce. In 2021, the country witnessed a substantial cohort of 289 million digital buyers. This trend was further fortified by forecasts that predicted a continued rise in digital buyers in the immediate future

Revenue growth of Flipkart Private Limited between financial year 2014 and 2023

Characteristic	Revenue growth
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Release date

October 2023

More information

Region

India

Survey time period

FY 2014 to FY 2023

Supplementary notes

India's financial year begins in April and ends in March. For example, FY 2020 started in April 2019 and ended in March 2020.

One Indian rupee is equal to 0.011 euros and 0.012 U.S. dollars (as of November 2023).

Values have been rounded for clarity.

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