NEW DELHI: Flipkart, India's largest e-commerce company, has launched its own advertisement platform with more than 50 leading brands already on board.
These include major names, such as Yes Bank, L'Oreal, Micromax, Intel, Gillette, Datsun and Sony, who have signed up to the new Brand Story Ads platform.
Flipkart is positioning Brand Story Ads as an interactive story format with content images and product guides that enables brands to tell their stories in a crisp and impactful way, the Economic Times reported.
Along with existing brands that sell on its platform, Flipkart will also display content from other advertisers in sectors such as real estate, auto, telecom and others.
"With Brand Story Ads, we are offering a platform where the brands can target and engage with largest qualified commerce audience in the country at the right time for the right intent," said Ravi Garikipati, senior vp at Flipkart.
"The magnitude of consumer traffic and intelligent data insights on online shopping behaviour gives Flipkart the edge to provide larger reach, impact and measurability," he added.
Flipkart is also expanding its network of third-party apps on which advertisers can show ads to 100m users, Live Mint reported.
"Reach is important for brands. This is our way to enhance our reach," Garikipati said. "The time spent by internet users on commerce apps is not that much. The idea behind the shoppers' network is to track users wherever they are spending the rest of their time on the digital medium and show relevant ads at the right time."
And in a further development, Flipkart announced that it is launching its own digital wallet, called Flipkart Money, which can be used on the company's Android app.
Users can hold a balance of Rs 10,000 at a time and can top up the wallet with a maximum Rs 25,000 a month using their credit cards, debit cards or via internet banking.
Data sourced from Economic Times, Live Mint; additional content by Warc staff