E COMMERCE
Shadowfax announces AI-based address intelligence system SF Maps
SF Maps aims to improve navigation for delivery partners, thereby assisting e-commerce platforms and Direct-to-Consumer (D2C) brands in reducing cancellations due to address inaccuracies on their platforms.
Top brands bank on 'imported' sales events to boost demand
Back to school sales in India have seen rapid growth over the last five to six years, with the event generating over a fourth of retail laptop sales. This trend is second only to the Diwali festive season's contribution of 30-35%, according to industry estimates. Other 'imported' sales events include small business days, Black Friday, Cyber Monday, Mother's Day, Father's Day, and Valentine's Day.
India, US extend digital tax on e-commerce supplies till June 30
Officials said while this would take care of the taxation issue for the first quarter, a final guideline for the second quarter onwards will be given in the upcoming budget in July. Both the countries had reached a deal in November, 2021 that allowed New Delhi to impose the 2% levy until March 31, 2024, or till the implementation of Pillar 1 of the OECD agreement on taxing multinationals and cross-border digital transactions.
CCI to shortly come out with changes to competition rules
The Competition Commission of India (CCI) is set to announce changes to competition rules, including those related to green channel approvals for mergers and acquisitions. The regulator is focusing on advocacy efforts and capacity building. The changes will also address dark patterns in e-commerce and algorithmic collusion, which could have competition implications.
Green jobs in textile can become the largest job opportunity in India: Aditya Birla Fashion’s Naresh Tyagi
As the world of textile rapidly moves towards becoming sustainable, it also seeks skills for the same. India, which is one of the largest textile manufacturers, can create a big pool of green talent.
ONDC to touch 10 million transactions in June: official
Shireesh Joshi, ONDC's president said the company will touch 10 million transactions in June. " We are growing strong, adding about one million transactions month-on-month," he added. Joshi expressed hope that ONDC will surpass major ecommerce players like Flipkart and Amazon in future.
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Mumbai customer orders Sparx slipper 6 years ago, Flipkart tells customer it's 'arriving today', conversation goes viral
Ahsan Kharbai's six-year wait for his Flipkart order of Sparx slippers became a social media sensation after he received an unexpected call from the platform's customer support. Despite the order showing perpetual delays, Kharbai's humorous recounting of the incident online sparked discussions about e-commerce logistics and customer service challenges.
Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
KwikChat to power over 5000 eCommerce brands globally, aims four-fold revenues increase
KwikChat, a WhatsApp commerce solution by eCommerce enabler GoKwik, aims to quadruple its revenue and support over 5000 brands and 3 billion conversations in the next six months. Launched after acquiring Tellephant, KwikChat helps brands engage shoppers, increasing ROI on marketing campaigns, recovering abandoned checkouts, and boosting repeat purchases. Within a year, it expanded to multiple platforms, significantly increasing engagement and automated support queries. Brands using KwikChat, like Foxtale, report higher conversions and recovery rates, contributing to GoKwik’s expected revenue growth this fiscal year.
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
Shopify expands access to its AI-powered features to attract more businesses
Customers can now use its editing tool on their smartphones to enhance images used in promotional materials, including emails, the Canada-based firm said at its biannual products event. The feature was previously restricted to only editing product images online.
Food contamination cases: E-tailers turn more watchful, prepare to delist errant manufacturers
A human finger found in an order of ice cream recently brought food etailing into sharp focus. Following this weird episode, etailers are beginning to cast a keen eye on their suppliers, and bringing new policies with provisions to penalise errant partners.
China earnings pain erodes optimism over a rebound
Investors in Chinese stocks are losing patience as the long-awaited earnings recovery fails to materialize. Earnings estimates on key Chinese gauges have been significantly reduced, impacting the MSCI China Index.
Fintech sector will dominate future Unicorns at USD 58 billion: Hurun report
The total worth of India's future unicorns will stand at USD 58 billion, an increase of 1.2 per cent as compared to last year. Fintech sector leads with the highest number of companies that can become Unicorns in future.
DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports
India's e-commerce exports are set to receive a boost with the establishment of designated e-commerce hubs by DGFT and the Department of Revenue to streamline the export process.
Not e-comm alone, one has to be in modern trade, in kirana stores also to build scale: Sunil D'Souza, Tata Consumer
Sunil D'Souza of Tata Consumer says today's consumer who is coming of age is the consumer who is born in a liberalised India. They have seen an India which is confident, growing with an accelerating GDP. So, these consumers are very confident of going out and spending. It is not only premiumisation, the consumer will move to value also.
Trade marketing scheme soon to assist small companies board ONDC
The government's Trade Enablement & Marketing (TEAM) scheme will support micro and small enterprises (MSE) in leveraging the Open Network for Digital Commerce (ONDC) for e-commerce growth, with benefits like reduced commissions and inclusive protocols.
Blue Dart launches drone deliveries in collaboration with Skye Air
Blue Dart has launched drone delivery services in partnership with Skye Air, focusing initially on the e-commerce sector. The initiative aims to enhance delivery efficiency and sustainability in logistics. Blue Dart, a leader in drone technology for logistics, has conducted Visual Line of Sight (VLOS) trials in Vikarabad in 2021 and Beyond Visual Line of Sight (BVLOS) trials under Telangana Government's 'Medicine from the Sky' initiative in collaboration with Skye Air.
More worries for China, sales at big e-commerce festival drop for first time
This year the shopping festival failed to stir up much excitement among shoppers, industry experts said, even as major platforms extended offers to a weeks-long period to woo consumers who have been tightening their belts amid a gloomy economic outlook.
Amazon announces expansion of its grocery service unit to over 130 cities
Amazon India announced on Tuesday that it is expanding Amazon Fresh, its comprehensive grocery service. This service includes both wet and dry groceries such as fruits, vegetables, chilled products, and a range of personal care items.
Buy FSN E-Commerce Ventures, target price Rs 230: JM Financial
FSN E-Commerce Ventures Ltd., incorporated in the year 2012, is a Small Cap company (having a market cap of Rs 48854.49 Crore) operating in Services sector.
Domestic market access for SEZs, SOP for trade pacts likely in 100-day plan
The commerce department is developing a 100-day action plan focusing on various key areas. This includes allowing Special Economic Zones (SEZs) to sell in the domestic market, setting up a comprehensive trade information platform, standard operating procedures for negotiating free trade agreements (FTAs), and establishing ecommerce export zones. The plan also includes the launch of a Trade Connect e-Platform to assist new exporters, the development of ecommerce export hubs, and efforts to boost goods and services exports to $2 trillion by 2030.
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.
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.
Kalyan Jewellers to acquire balance 15% stake in Candere
Kalyan Jewellers India signed a definitive agreement to acquire the remaining 15% stake in Candere from Rupesh Jain, founder of www.candere.com, for Rs. 42 crore. This move will make Candere a wholly owned subsidiary of Kalyan Jewellers, transitioning from e-commerce to omni-channel commerce.
Dubai-based Pluugin e-commerce plans expansion in India, create 2,000 jobs in 3 years
Dubai-based Pluugin E-commerce plans to expand in India, aiming to create over 2,100 jobs in three years and achieve full pan-India coverage within 12 months. India will also serve as the backend office for operations in Bangladesh, Nepal, and Sri Lanka. The company focuses on MSMEs, promoting a global presence for 'Make in India' brands.
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.
56% of online shoppers found ratings on eComm sites to be positively biased: LocalCircles survey
The survey assumes significance given that the government is considering making it mandatory for e-commerce companies to comply with quality norms for consumer reviews after a voluntary push failed to effectively curb fake reviews.
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