Flipkart
DPIIT officials, Flipkart, toy makers to meet on Wednesday on ways to increase sourcing
Senior officials from the Commerce and Industry Ministry, Walmart group firm Flipkart, and domestic toy makers will discuss ways to enhance India's position in the global toy supply chain and increase sourcing on the e-commerce platform.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates with precision, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasizing the need for speed in the entire process.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
E-commerce firms back government's proposal to make anti-fake review rules mandatory
Major e-commerce companies in India, including Amazon and Flipkart, support the IS 19000:2022 standard to combat fake reviews through a Quality Control Order, focusing on trustworthiness, consumer complaints, responsibilities of authors, and the enforceability of standards.
Government push to help ONDC get shopfront on ecommerce sites
The Centre has asked Amazon and Flipkart to set up Open Network for Digital Commerce (ONDC) storefronts on their home pages to help the government-backed network scale up operations and assist with deliveries, said executives aware of the development. The aim is to boost operations and order efficiencies as well as iron out glitches and delays on ONDC, they said.
Complaint filed against Flipkart, BigBasket for allegedly making employees work on election day
Complaint filed against Flipkart and BigBasket for making delivery boys work on voting day despite government holiday declaration. Flipkart ensures paid holiday and promotes voting awareness.
Flipkart tweaks merit approach, converts hikes into payouts
Flipkart changes increment policy, offering merit-linked payouts and 100% bonuses to employees. Lump sum payments replace salary hikes. Last year, Flipkart had frozen hikes of 30% staff including senior leadership among tough macroeconomic conditions. In January 2023, ET had reported that Flipkart has begun a workforce reduction exercise that could see its total team size decrease by 5-7% and be completed by March-April as part of performance reviews.
Prathyusha Agarwal to head Flipkart's Shopsy
Prathyusha Agarwal has joined Flipkart as vice president (VP) and head of Shopsy, a spokesperson for the firm confirmed to ET. She was previously the chief business officer of edtech firm Byju’s, with earlier stints at Zee Entertainment, Tata Cliq and Unilever.
IPOs of Flipkart, PhonePe could take couple of years: Walmart executive
Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart's executive, Dan Bartlett.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
Startup layoffs in 2024: Ola Electric, Byju’s, Flipkart among firms shedding jobs
Indian startups and large new-age companies have been cutting down their workforce since the beginning of this year.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
iPhone 14 vs iPhone 14 Plus on sale: Which Apple smartphone should you buy at Flipkart’s discounted price?
Flipkart is offering the iPhone 14 and iPhone 14 Plus at the same surprising price of Rs 58,999, which is a significant discount from Apple's official prices. Normally, the iPhone 14 sells for Rs 69,900 and the iPhone 14 Plus for Rs 79,900. This limited-time offer presents a great opportunity for buyers. The iPhone 14 features a 6.1-inch screen, while the iPhone 14 Plus has a larger 6.7-inch display.
Google’s $350-million Flipkart bet; Canva CEO interview
Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates precisely, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasising the need for speed in the entire process.
Motorola Moto G04s set to hit Indian smartphone markets, launch date announced; Check details
Motorola's upcoming release, the Moto G04s, is generating anticipation in the Indian smartphone market. The top e-commerce site, Flipkart, has hinted at the official release on May 30.
Anuj Rathi to take over as CEO of Flipkart-owned Cleartrip
Flipkart is seeing another set of top-deck changes, as it ropes in Anuj Rathi as the new CEO of its travel booking unit Cleartrip, while top executives Prabh Simran Singh and Sankalp Mehrotra are exiting the firm.
Too hot, too good for e-tailers: ACs, ice creams and beauty products' online sales enjoy the heatwave
Consumers are increasingly turning to online shopping for a variety of products like air conditioners, beauty products, and snacks as heatwaves prompt them to stay indoors, especially during peak afternoon hours. Brands like Voltas and Panasonic have witnessed significant growth in online sales, particularly in the AC category. E-commerce platforms are seeing a surge in demand for large purchases like ACs and coolers, with quick commerce becoming popular for daily essentials. Companies like Parle, Mother Dairy, and Baskin Robbins are experiencing a boost in online sales.
Not just employers with benefits! India Inc looks to be more to woo talent
Corporate India is offering new-age benefits, realizing that attracting and retaining talent requires more than just high salaries. Cos offer new-age perks like cash for self-development, health insurance for siblings and pet care to woo talent
Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Hero MotoCorp bought this stake at an inferred valuation of Rs 5,636 crore. This is a premium to the Rs 4,666-crore valuation at which the company had invested Rs 140 crore in Ather in December 2023.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
Hero MotoCorp invests Rs 124 crore into Ather Energy, valuation up 20% at Rs 5,636 core
Hero MotoCorp, which was already the largest shareholder in Ather Energy, now holds over 40% of the firm’s total shareholding. The investment comes just a week after the company raised Rs 286 crore ($34 million) from its founders and Stride Ventures in a mix of debt and equity funding.
Deal activity dips 3 pc to USD 5 bn in May
Deal activity in May dropped by 3% to $5.023 billion. Mergers and acquisitions fell by 58%, but private equity deals rose by 49%. Largest deals include Google's $350 million investment in Flipkart and Manipal Health's majority acquisition of Medica Synergie.
Evaluating the right time for Flipkart IPO: Walmart International CEO
During Walmart's quarterly analyst call, chief financial officer John David Rainey said that Flipkart grew by double digits for the first quarter ended April 30.
Startups’ new hiring strategies; unprecedented poll buzz online
Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in today’s ETtech Morning Dispatch.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
Quick commerce 2.0, and other top tech & startup stories this week
Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.
UPI transactions set new record, scale 14 billion peak in May
The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions recorded in April. In terms of value, UPI facilitated transactions amounting to ₹20.45 lakh crore in May, compared to ₹19.64 lakh crore in April, as per the data released by NPCI on Saturday.
UPI transactions scale 14 billion peak in May
The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
Ather Energy raises Rs 286 crore from founders and Stride Ventures
Ather Energy raised Rs 286 crore from founders and Stride Ventures through a mix of debt and equity funding, including series F and series C3 investments.
Amazon India gets funds; IT margins hit
Amazon has ploughed fresh funds in its Indian marketplace entity. This and more in today’s ETtech Top 5.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Flipkart maps out India redux; QED’s Nigel Morris interview
Happy Monday! Ecommerce major Flipkart is in discussions to shift its domicile from Singapore to India. This scoop and more in today’s ETtech Morning Dispatch.
Exclusive: Flipkart maps India redux; talks on to shift domicile from Singapore
Flipkart aims to move domicile from Singapore to India for an IPO. Talks gain impetus for largest local consumer internet company to reverse flip to India. Walmart owns 85%.
Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha
Over the past year-and-a-half, online fashion retailer Myntra has gained market share even as rivals like Reliance Ajio and Nykaa Fashion have snapped at its heels, chief executive Nandita Sinha told ET in an interview–without naming the competition.
Samsung Galaxy F55 5G with AI features launched at Rs 24,999
Samsung announced the Galaxy F55 5G with premium features like AMOLED display, 45W fast charging, and Snapdragon 7 Gen 1 processor. It offers 50 MP No Shake Camera and will be available on Flipkart and retail stores.
Samsung launches made-in-India Galaxy F55 5G smartphone
Samsung launches the Galaxy F55 5G smartphone in India, targeting the Rs 20,000-30,000 segment with premium features and a focus on product differentiation and 5G adoption.
Ikea's India sales rise 61% in FY23, but losses widen to over ₹1,134 cr
Ikea incurred a net loss of more than ₹3 crore every day on average in India in the last financial year, reflecting large-scale investments. Sales in India surged 61% to ₹1,768 crore in FY23 due to new stores. Net losses widened to more than ₹1,134 crore due to investments in infrastructure. Ikea is working on positioning and growth in India, opening smaller stores. Operations were impacted by the pandemic, but management is optimistic. Ikea plans to serve 200 million people by 2025 and open more stores.
Addition of global brands is unlocking value for Myntra: Nandita Sinha
The overall retail growth slowed to 6% in both March and April, increasing marginally to 9% in August and September before falling slightly to 7% in October and November, according to the Retailers Association of India. Myntra, however, said it outperformed the market. During FY23, the online retailer's revenue rose 25% to Rs 4,375 crore from Rs 3,501 crore in the previous year.
Poco plans to sell 10 million smartphones in 2 years, aims to be among top-5 brands from third year
At the event Poco unveiled three variants of Poco F6 priced at Rs 25,999 with 8 GB RAM and 256 GB ROM storage for files, photos etc, Rs 27,999 for 12 GB RAM and 256 GB ROM variant, and Rs 29,999 for the model with 12 GB RAM and 512 GB ROM.
Myntra names Flipkart VP Govindraj its chief HR officer
Govindraj, currently vice president-HR at Flipkart, will replace Nupur Nagpal, who is exiting Myntra. Myntra chief executive Nandita Sinha announced the appointment in an email sent to the company’s employees. ET has seen the email and confirmed the matter with Myntra’s spokesperson.
Flipback Tax: Razorpay restructures to cut levy; Groww pegs tax outgo at $70 million
US-registered Razorpay is quickening plans to shift its domicile to India. For the same, it has initiated a restructuring exercise through which half a dozen India units are being brought under one holding company.
Buy Apple iPad for just Rs 30,000 with special bank discounts: Check offers, eligibility, specs
Croma is offering the Apple iPad 10th generation at a discounted price of Rs 30,000 for ICICI and SBI credit card holders, down from the listed price of Rs 33,900. Key features of this model include a sleek flat-edge design, 5G support, a Type-C port, a 10.9-inch display with slim bezels, a 12-megapixel rear camera, and an A14 Bionic chipset. The device is compatible with the Magic Keyboard Folio and supports regular software updates.
Temple frenzy gives 100 per cent lift to spiritual merchandise sales
Executives at ecommerce companies and general trade said sales of spiritual merchandise have increased two to three times compared with normal days, even as sellers such as Prabhu Bhakti, Ayodhyapati and HindK stores have flooded online platforms. Ecommerce platform Flipkart has listed T-shirts and flags for cars, bikes, cycles and windows printed with the words Jai Shree Ram, and images of the temple and Hanuman as "hot deals". Rival Amazon shows Ram T-shirts as "trending".
Delhivery back in red for Q4; CEO Sahil Barua flags softness in online consumption
In a post-earnings analyst call, Delhivery CEO Sahil Barua said Sandeep Barasia, executive director and chief business officer of the company, will step down after almost a decade with the firm.
Flipkart launches bus bookings on its app
Flipkart introduces bus services on its app, offering 10 lakh bus connections on 25,000+ routes in partnership with state transport corporations and private aggregators. Customers enjoy discounts and value-added services, aiming to enhance travel experiences.
How quick commerce is rewriting the rules of retail in India
Quick commerce, or super-fast deliveries, is becoming increasingly popular among millennials and Gen Z, with companies delivering various items to doorsteps in no time. Quick commerce makes up about 5-6 per cent of a household's grocery spending, with platforms like Blinkit valued at around $13 billion. It is mostly popular in big cities but is also gaining traction in places like Vizag, Nagpur, Kochi, Jaipur, and Lucknow.
Motorola Edge 50 Fusion launched in India: Check price, specification, and offers
Motorola Edge 50 Fusion: Qualcomm Snapdragon 7s Gen 2 chipset, Android 14, IP68 rating, 5000mAh battery, 6.7-inch FHD+ OLED display, dual rear cameras, 68W fast charging.
Share of quick commerce in online FMCG sales rockets to 35% in FY24
Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, company executives said.
Exclusive: Flipkart-Zepto deal talks drop out of cart
Happy Friday! Ecommerce major Flipkart held talks with Zepto for a potential deal. More on that in today’s ETtech Morning Dispatch.
Flipkart’s Blockchain-based FireDrops seeks more use cases
Walmart-owned ecommerce major Flipkart is collaborating with Polygon for its web3 plans and aims to go deep with this partnership this year, which can help change the way Indians shop and engage with brands online, senior industry executive told ET.
D2C fashion brand Powerlook aims Rs 300 crore GMV this fiscal
Powerlook sets sights on hitting Rs 300 crore GMV, double the previous year. Emphasis on customer satisfaction, timely delivery, and quality products. Strong offline market presence and collaborations with influencers driving growth.
Meesho closes $275 million funding in first tranche, in talks for more
Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.
Platforms see scorching summer sending ecommerce sales soaring
Early summer heatwave boosts online demand for cooling products, driving significant growth in ecommerce sales. The surge in appliance sales leads to concerns of supply shortage. Offline markets also witness substantial growth in cooling-related appliance sales.
Exclusive: Flipkart-Zepto deal talks falter; quick commerce startup opts for financial investors
The strategic sale discussions are unlikely to be revived. Quick commerce company Zepto is now in discussions for fresh funding at a likely $2.5 billion valuation. It has held talks with the likes of General Atlantic, ADIA, among others.
Google Wallet is now available for Android users in India
It is different from Google Pay app which helps manage money and finances.
Google Pixel 8a comes with Gemini AI, Actua OLED display: Check India price, specs and launch offers
Pixel 8a Price and Specifications: Google has launched its latest midrange smartphone, the Pixel 8a, in India, featuring advanced specs like the Tensor G3 chip and 8GB RAM. With a 6.1-inch OLED display, 64MP dual-camera setup, and Gemini AI integration, the Pixel 8a promises a high-quality user experience. Google's commitment to software updates includes Android 14 and 7 years of security updates. The launch offers include discounts and bonuses, with prices starting at Rs 52,999 for the base model and sales beginning on May 14.
Google Pixel 8a launched in India: Tensor G3 powered smartphone gets seven years of OS updates; price starts at Rs 52,999
Google Pixel 8a Launch: Google has launched the Pixel 8a, a budget-friendly smartphone packed with advanced AI features. It comes with a powerful dual camera system, AI-powered photo and video tools, enhanced productivity features, and a durable design. The device offers a range of storage options, a vibrant display, family-friendly features, and robust security measures. With competitive pricing and long-term software support, the Pixel 8a aims to deliver a premium experience at an affordable price point.
Flipkart Ventures to fund, mentor GenAI-based early stage startups
Flipkart Ventures' Flipkart Leap Ahead (FLA) programme accelerates early-stage startups with USD 200,000 to USD 500,000 equity investments, mentorship from industry veterans, and a focus on GenAI solutions for hyper-growth.
MS Dhoni-backed EMotorad’s e-cycle gigafactory almost ready
The e-cycle maker's gigafactory is being built in four phases. It will manufacture a range of components including batteries, motors, displays and chargers. The 2,40,000-sq.ft. facility is scheduled to be inaugurated on August 15. The factory, which will become South Asia's biggest integrated e-cycle unit, is set to employ more than 300 people.
India's e-retail market estimated to cross USD 160 billion by 2028: Report
E-retail in India is expected to surge past USD 160 billion (over Rs 13 lakh crore) mark by 2028, a report released by Bain & Company in collaboration with Flipkart said on Wednesday. The E-retail market is expected to be around USD 57-USD 60 billion (Rs 4.75 lakh crore to 5 lakh crore) in 2023, with an annual shopper base of around 240 million representing an annual addition of USD 8-12 billion since 2020.
Big discounting makes a comeback with a bang in early end-of-season sale
Some brands said the year-end online discounts in categories like apparel, electronics and mobile phones would be among the highest this year, next only to the festive season deals. Most of the apparel brands have already started offering hefty discounts on their seasonal line-up of winter wear in brick-and-mortar stores, which they usually do towards December-end, they said.
Flipkart’s supply chain head Hemant Badri to lead quick commerce business
Flipkart's quick commerce, led by Hemant Badri, to launch in July with dark stores setup. Potential deals with Zepto and Dunzo didn't progress. Swiggy integrates Mall with Instamart.
Cleartrip CFO Aditya Agarwal steps down as top-level shakeup continues
Cleartrip's CFO Aditya Agarwal resigns amid Flipkart's senior management changes. Akshat Mishra to succeed him. Agarwal's key role in Cleartrip's integration into Flipkart highlighted. Former CEO Ayyappan R departing for consumer tech venture. Layoffs impacting 5-7% employees after Flipkart Group acquisition.
Nothing Phone (2a) blue launched in India: Price, launch date, and features
Nothing introduces blue Nothing Phone 2(a) in India at Rs 19,999 on Flipkart, featuring Android 14, Bluetooth 5.3, WiFi 6, 5G, and dual 50 MP OIS rear cameras.
Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm
The new funding comes as the Bengaluru-based etailer presses ahead with plans to launch its quick-commerce service.
Black Friday sales: Desi fervour for a Western phenomenon a boost for Indian retailers
Black Friday is becoming a global phenomenon for brands to attract Indian consumers and boost sales. The rise in demand is particularly relevant for lifestyle products like consumer durables, IT products, garments, and wearable accessories. The Black Friday sales market in India is predicted to witness a CAGR of 37.4% by 2032. The push on Black Friday sales is largely driven by e-commerce, with companies witnessing higher traffic.
From germ-free to delicate fabric care, here’s how to choose an ideal washing machine for your home
Explore a range of washing machines on Flipkart tailored to your needs. From germ-free clothes to quick laundry, find the perfect match with exchange offers and no-cost EMI options, ensuring a seamless upgrade to your laundry routine.
Exclusive: WeWork Inc to sell entire stake in India unit
US office sharing company WeWork is selling its 27% stake in the India unit via a secondary deal. We have this evening scoop and more in today’s ETtech Top 5.
Quickening pace of quick-commerce; and other top tech, startup stories this week
It’s no surprise, given quick-commerce platforms are betting big on advertising revenues to contribute substantially to their toplines. HSBC Global Research expects Blinkit’s ad revenues to grow fourfold from $60 million in FY24 to $240 million in FY27.
Amid cost conservation focus, startups keep tighter rein on top rung hikes during appraisals
Startups and ecommerce companies are focusing on profitability and cost conservation, with some holding back pay raises for senior staff during appraisals. Some founders are forgoing hikes on their own, while others are forgoing them. Sandeep Murthy, partner at VC fund Lightbox Ventures, suggests that the main goal is to create a stakeholder advantage.
Rise in second-hand smartphone demand prompts brands to prevent unorganised market access
The demand for second-hand smartphones is on the rise, prompting brands and seller platforms to prevent old devices from reaching the unorganised market. Refurbished smartphone seller ReFit Global anticipates a 16% growth in the industry in 2024, following a 15% growth in 2023. E-commerce platforms and smartphone brands are collaborating with refurbishing companies to sell old devices directly, streamlining the process and preventing leakages.
‘Vocal for local’ gives the festival of lights a new sparkle
Ecommerce majors Flipkart and Amazon both gave prominence to small and medium entrepreneurs and artisans prominence during their festive sales. For its flagship 'Big Billion Days' sale, Walmart-owned Flipkart included over 1.4 mn sellers, including Flipkart Samarth sellers like artisans, weavers, women, and self-help groups.
Zepto improves quick-commerce market share; Instamart loses ground: HSBC report
A report from HSBC Global Research said Zepto market share rose from 15% in March 2022 to 28% in January 2024. During this time, Instamart's share fell from 52% in March 2022 to 32% in January 2024.
Ajit Isaac buys the most expensive property on Bangalore's Billionaire Lane for ₹67.5 crore
The southern suburb of Koramangala has emerged as a thriving hub for entrepreneurship in the bustling city of Bangalore. With its prime location and strategic proximity to the city's business centers, Koramangala has become a sought-after neighborhood for startups and self-made billionaires alike.
NPCI pushing new UPI players to offer incentives to expand market share
NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline extensions, hindering significant capital investment by smaller players like Cred amid concerns about reducing market leaders' share.
Flipkart to roll out quick-commerce venture soon
Flipkart's plans come as quick-commerce firms majors Zepto and Blinkit are making inroads into ecommerce territory by adding several categories such as fashion, beauty, electronics, toys, home and kitchen to their offerings.
E-comm story over next 5-10 yrs around value lifestyle segment growth, want decent slice of that opportunity: Snapdeal CEO
Since Snapdeal has exited certain categories, the customer numbers and traffic are lower, but the platform is seeing 75 per cent of business from repeat customers, demonstrating buyer stickiness. On whether competition with deep pockets puts Snapdeal at a certain disadvantage, he said, "No, because the market is large and so there will be people looking for honest, good pricing with good control on quality. They will discover and keep coming back to us".
Zerodha’s Nikhil Kamath launches WTFund for young entrepreneurs
Nikhil Kamath's 'WTFund' offers under-25 entrepreneurs Rs 20 lakh grants, mentorship, and support. Trend of founders turning investors seen. Applications open on April 15 for 40 founders, screened before institutional funding. Kamath's podcast series delves into business topics."}
Ecommerce firm POP to launch marketplace for D2C brands with its own UPI
The company said it aims to build this D2C marketplace via a no-frills approach, enabling brands to benefit from deeper data and insights as well as POPcoins.
Flipkart launches UPI service in partnership with Axis Bank
Flipkart UPI will only be available for Android users as of now. Customers can register for UPI with @fkaxis handle and do fund transfers and checkout payments using the Flipkart app.
As mercury begins to soar, India Inc steps up to keep workers sun-safe
As India braces for a hot summer ahead, companies across various sectors are implementing measures to protect their workers from the scorching temperatures. From ecommerce giants to real estate developers and oil companies, efforts include restricted work hours, flexible schedules, resting areas, access to refreshments, healthcare facilities, and breathable clothing.
BigBasket, Flipkart quicken delivery to counter quick-commerce
Tata Digital's BigBasket rebranded its slotted delivery service as "Supersaver" in January, promising sub-two-hour deliveries. Meanwhile, Walmart's Flipkart is offering with free same-day delivery across various categories in 20 cities.
Non-grocery items deliver bright growth to dark stores
Quick-commerce platforms like Zepto, Swiggy Instamart and Blinkit are seeing rapid growth in the sale of non-grocery items as they continue to diversify their offerings and enter ecommerce turf.
Etailers bet big on Apple iPhones; steep discounts and deals expected to drive festive season sales surge
Indian e-commerce platforms like Amazon and Flipkart heavily rely on the iPhone as their "hero" product for festive season sales. Online sellers are expected to offer maximum discounts on iPhone 12-14 series, with e-commerce contribution to iPhone sales projected to increase from 40% to 50-55% during the festive season. These high iPhone sales boost marketplace sales value, increase traffic, and help increase average ticket sizes.
Binny Bansal eyes big game again post Flipkart exit
Flipkart cofounder Binny Bansal exited the Flipkart board in January, but he’s been busy making investments and giving shape to his new startup as well as portfolio companies
Home improvement firm Arrivae raises Rs 21 crore in funding
Arrivae secures Rs 21 crore from Mithun Sacheti to boost supply chain and expand in key markets. The firm offers end-to-end design-to-manufacturing services and has notable investors like Rekha Jhunjhunwala and Harsh Jain on board.
Premiumisation trend: Consumers are no more enticed by entry-level cars, TVs and phones
The premiumisation gradient is the most visible in personal mobility choices. Once the mainstay of the car industry, the share of small cars in the overall pie is shrinking rapidly, even as stocks of companies such as Maruti Suzuki India hit lifetime highs. Lower priced vehicles, which earlier accounted for 85% of the market, now have a 58% share, said Shashank Srivastava, senior executive director, Maruti Suzuki.
Non-metros dominate online festival sale across Amazon, Meesho, Flipkart
Amazon said over 80 per cent of customers on its platform came from non-metro cities during the initial days of its festive sale "Great Indian Festival". Flipkart claimed 9.1 crore visits on Day 1 of The Big Billion Days (TBBD) while Amazon registered 9.5 crore customer visits in the first 48 hours.
An Amitabh Bachchan advert has landed Flipkart in big trouble with mobile phone retailers
Smartphone retailers have accused Flipkart of misleading buyers with an advertisement featuring Amitabh Bachchan, claiming that online platforms offer better deals. In the advertisement, Bachchan says that the mobile deals offered by Flipkart will not be available at retail stores. The All India Mobile Retailers Association has written to leading smartphone brands, asking them to clarify that these statements are not accurate.
Amazon, Flipkart festive offers give a massive push in e-retail sales
E-commerce platforms in India are expected to have made over Rs 29,000 crore in sales during the first four days of the festive sale period, according to a survey by Redseer Strategy Consultants. Sales increased by 16% compared to the same period last year, with Flipkart and Amazon's promotions on high-value products and financing options driving demand.
Flipkart valuation declines by over Rs 41,000 crore in two years
The valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart.
Flipkart eyes quick-commerce entry; No point Googling ‘swadeshi’
Flipkart has been working to cut down the timeline of its deliveries across categories for some time now. The firm rolled out same-day delivery of products across several categories at no extra cost from February.
Online platforms clocked GMV of Rs 47,000 crore during week one of the festive season sale
The 2023 festive season sale in India saw online platforms generating a Gross Merchandise Value (GMV) of Rs 47,000 crore in the first week, a 19% growth compared to the previous year. Despite the majority of the sale period falling during the 'shradh' period, mobiles, electronics, and large appliances accounted for 67% of the GMV. According to Redseer's survey, 30% of consumers who purchased high ASP categories used financing options. In the remaining festive season, over 55% of consumers surveyed plan to make more purchases, with fashion being the top category.
Flipkart Internet receives $111 million in new fund infusion
The fresh capital came from the Flipkart's related Singapore-based entities on January 8, 2024. Two resolutions to infuse capital into the firm were approved on December 20 and December 22 last year, documents showed.
