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    Flipkart's Shopsy world-first foray for Walmart into social commerce

    Flipkart's Shopsy world-first foray for Walmart into social commerce

    Flipkart's Shopsy world-first foray for Walmart into social commerce
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    By CNBCTV18.com  IST (Published)

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    Shopsy allows users to share catalogues of a wide selection of products offered by Flipkart sellers over social media and communication apps.

    Flipkart's newly launched social commerce platform Shopsy is the world-first foray into the space for American retail giant Walmart, the latter's international president and CEO Judith McKenna said on Thursday.
    Shopsy allows users to share catalogues of a wide selection of products offered by Flipkart sellers over social media and communication apps. Shopsy was launched in July and Flipkart had said it aims to enable over 25 million online entrepreneurs by 2023, adding that Shopsy will offer 15 crore products across Fashion, Beauty, Mobiles, Home etc for individual entrepreneurs.
    "We are very excited about Flipkart’s new Shopsy. It is a world-first foray into social commerce for us. It provides a very low entry barrier for people to start a business and is also a fun and easy way to introduce people to online shopping," McKenna said at the Walmart Converge event.
    On Wednesday, Doug McMillon, President and CEO of Walmart, also spoke at the same event and said he was "excited" about Flipkart and payments arm PhonePe in India.
    "India is among top markets in the world along with the US, China for us, " McMillon said.
    "We are excited about Flipkart, PhonePe. Flipkart has reached 3 lakh sellers. PhonePe has 300 million users," he added.
    McKenna also spoke about Walmart's increased sourcing from India for its retail business.
    "Walmart has a 20 year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide. We are now tripling our sourcing from India to about $10 billion a year. To achieve this, we are growing our sourcing team in India," she said.
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