One of the hottest topics of debate in investment circles in recent years has been around the disruption caused by e-commerce to brick-and-mortar entities. Many experts have warned that the rising popularity of e-commerce giants like Amazon would inflict a heavy toll on brick-and-mortal retailers, leading to downgrades of organized retailers and mall operators — […]
Flipkart, one of India’s oldest e-commerce players, said it will sell the Middle East business of Cleartrip, acquired by the company last year, to local rival Wego as part of its strategy to focus on the Indian market. The financial details of the transaction were not revealed. Cleartrip, founded in 2006, is one of the […]
Vakrangee Ltd, India’s largest operator of IT-enabled kiosks and service centers, reported a strong increase in its operating financials for the September quarter as its performance clearly overshot pre-COVID levels. The company’s total revenue jumped to Rs 207.2 cr for the three months ended September this year, up from just Rs 70.2 cr in the […]
D-Mart, arguably India’s most successful low-cost retailer, may be looking at a multi-city e-commerce launch in coming days, after years of avoiding the sector citing the gruesome economics of online retail in India. Avenue Supermarkets, or D-Mart as most people would know it, is known for its fanatic focus on keeping costs down and its […]
At a time when companies are hoarding cash, Indian online classifieds pioneer JustDial Ltd has announced plans to return up to Rs 220 cr to its shareholders via a stock buy back. A stock buyback is one of the two key ways to give excess cash generated by a company back to shareholders, with the […]
With a 21-day lockdown on people movement coming into place overnight, the Kerala government has taken an in-principle decision to allow the sale of liquor via the Internet. A decision in this respect was taken at today’s meeting of the council of ministers headed by Chief Minister Pinarayi Vijayan, according to local media reports. Liquor […]
Ministry of Electronics and Information Technology, Government of India, has requested all state governments to include IT and BPO employees, as well as e-commerce, in their list of essential services. Several state governments, including Maharashtra, Kerala, Tamil Nadu and Andhra Pradesh, have announced strict curbs on the movement of people and the functioning of shops […]
GATI, one of India’s largest parcel and logistics companies, reported a 6% decline in its operating revenue for the July-September period, and blamed an ‘abrupt slowdown’ in certain segments of e-commerce. The company was able to bring down expenses, including non-cash items, by only about 3.1%. As a result, the company also swung to a […]
Amazon, the US-based online retailer, released a bunch of numbers on the final day of its five-day festival sale to paint a surprisingly rosy picture of its performance during the biggest sales event of the annual online calendar. Notable among the numbers was a 15-fold jump in the sales of smartphones during the sale period, […]
Haryana, home to Gurgaon — the prosperous suburb of Delhi — has emerged as the unlikely champion of e-commerce in India, beating back heavyweights such as Mumbai, Bangalore and Delhi. According to tax numbers — which reflect all e-commerce transactions for which payment is made online — Haryana accounted for a whopping 19.29% of all […]
Even as Amazon and Flipkart find their business models crippled by new changes in the law, India’s richest man Mukesh Ambani announced that his upcoming e-commerce venture will partner with 3 cr sellers, making it the biggest such platform in the country by number of sellers. “Jio and Reliance Retail will shortly launch a unique […]
CyberMedia Research, the market research arm of the CyberMedia publishing group, has predicted that the $16 bln acquisition of Flipkart by WalMart, the world’s largest retailer, will bring far-reaching changes in India’s retail sector, both online and offline. The news of the deal has already led to some response from offline retail players such as […]
Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]
Shriram Transport Finance Company said it has decided to sell a majority stake in its vehicle auction company Shriram Automall to Cartrade.com to create what it called India’s leading used vehicle platform. CarTrade, owned by MXC Solutions India, will acquire majority stake in Shriram Automall India Limited (SAMIL), India’s offline auction platform for pre-owned vehicles […]
Adani Wilmar, the company that markets ‘Fortune’ brand of food products in India, is all set to enter the online grocery sales business with a new e-commerce portal and app called ‘Fortune Online’. The company has hired Ahmedabad-based Infibeam to set up an app for the same. Infibeam will be responsible for developing and maintaining […]
Flipkart, one of India’s top two online market places, said it saw twice as much business as part of its Big Billion Day Sale this year compared to the last. The company said it added over 3000 sellers to Flipkart Millionaire Club in a span of just five days of TBBD sale. The title is […]
Bajaj Finance will offer ‘no cost EMI’ schemes on over four lakh products during the Flipkart’s ‘Big Billion Days’ sale that starts tomorrow and ends on Sunday to its existing customers. “The existing EMI Card customer can transact on Flipkart without any processing fee or any down payment at No Cost EMI,” the company said. […]
ICICI Bank is offering cash back of up to 10% for those who use its free Pockets prepaid payment card on platforms such as Flipkart, Amazon and Reliance Retail. Pockets prepaid card is a free card that is delivered to anyone who installs ICICI Bank’s wallet app — Pockets — and makes a request for […]
Finance Minister Arun Jaitley said there was no law on the use of bitcoin and similar crypto currencies in India, and users of such currencies may not get recourse to legal remedies for any damage. However, Jaitely added that the government has set up a committee that is expected to come up with suggestions for […]
Trying to differentiate itself from regular ecommerce websites and apps, Yes Bank has launched an impulse buying app known as Tap To Shop. Unlike regular online shopping apps, Tap To Shop will be focused exclusively on delivering deals that are not available at most times. The customer must have installed the Yes Pay wallet on […]
