Page 6 - E-commerce Companies

E-commerce aggregator ETrade aims to triple revenue to $ 750 mn by 2025

E-commerce aggregator firm eTrade aims to triple its revenue to USD 750 million by the fiscal year 2025 on account of a multi-faceted strategy, including the launch of their own white labels, the company said on Wednesday. eTrade claims to have an annual revenue of USD 250 million at present. "We are proud to have established ourselves as a leading e-commerce aggregator partner in India. We are fully committed to continuing our growth trajectory and reaching the USD 750 million goal by 2025, solidifying our position as a trusted partner in the e-commerce ecosystem," eTrade Founder, Anuj Bhatia said. The company provides technology, logistics, inventory management and other tools to enable companies to sell their product online. eTrade claims to have over 100 new clients and registered a growth of 60 per cent over the last year. The company said that it recently introduced over 50,000 new products specially curated for the festival season launched by some of its partner brands like

Non-metros drive Flipkart's annual sale on Day 1 with 60% of orders

Non-metro cities dominated Flipkart's The Big Billion Day sale on Day 1, accounting for 60 per cent of orders placed while mobile phones, appliances and lifestyle products were the preferred choice for customers, the company said on Tuesday. Lifestyle products sellers on the marketplace saw a 10-fold growth in the number of orders placed compared to the pre-festive period, followed by Furniture (8-fold) and Electronics (7-fold) categories, Flipkart said in a statement. "Over 60 per cent of orders were placed from Tier 1, 2 and 3 cities," the statement citing sales data on October 7 said. The company recorded 9.1 crore customer visits on the first day of the sale that started on October 7. Flipkart started The Big Billion Day (TBBD) on October 8 with 24-hour early access to its VIP members, which are paid subscribers, and Plus category members, who shop from the platform at least four times in a year. Flipkart saw the highest number of shoppers from Bangalore, Delhi and Hyderabad,

Regret Indonesia's decision to ban e-commerce sales on social media: TikTok

Chinese-owned app TikTok on Thursday said it regretted the Indonesian government's decision to ban e-commerce transactions on social media platforms, particularly the impact it would have on the millions of sellers who use TikTok Shop. But TikTok Indonesia said in a statement they will respect the regulations and laws that apply in Indonesia and will take a constructive path forward. We deeply regret the government's announcement, especially how it will impact the livelihoods of the six million sellers and nearly seven million affiliate creators who use TikTok Shop, said the statement sent to The Associated Press on Thursday. Indonesia banned goods transactions on social media platforms such as TikTok in a bid to protect small businesses from e-commerce competition, accusing them of predatory pricing. Indonesia's Trade Minister Zulkifli Hasan on Monday announced the decision after a meeting with President Joko Widodo. The ban is to prevent the domination of the algorithm and preven

ONDC to open its platform for fintech services like credit, insurance

In insurance, ONDC is starting off with three products - health insurance, marine insurance and motor insurance

Final draft of e-commerce policy skips consumer data protection regulations

The earlier draft of the policy which was released in 2019 talked extensively about the ways in which e-commerce companies could collect user data

'No proposition for independent regulator in proposed e-commerce policy'

In that meeting, a broad level of consensus emerged among the concerned stakeholders on the proposed policy

Kareena Kapoor Khan acquires minority stake in e-commerce brand Pluckk

Actress will be brand ambassador of lifestyle-oriented fresh fruit and vegetables brand

Nandan Nilekani pitches ONDC to start-ups to democratise e-commerce

VC firm Antler has collaborated with Nilekani, FIDE and ONDC and launched the country's first ONDC-focused venture platform to help entrepreneurs create businesses and succeed on the open protocol

India may restrict e-commerce websites from selling private labels

The move is expected to have a significant impact on companies like Amazon, Flipkart, Reliance and Tata, which have a large number of private labels

Cashfree Payments rebrands Zecpe, a one-click checkout platform, as Ecom360

Ecom360 aims to address core problems of D2C businesses by improving checkout and payment processes

Meesho delists 5.2 million counterfeit, restricted products in six months

SoftBank-backed e-commerce firm Meesho has delisted nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products in the past six months, the company said on Wednesday. The total deactivated products account for less than 5 per cent of the total products listed on Meesho's platform, a company official said. Meesho said its "Project Suraksha" systems has detected and blocked over 12,000 bad actor accounts from accessing the platform. "The project has yielded impressive results, with nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products deactivated in the past six months. Since February, there has been a 80 per cent reduction in platform views for non-compliant listings, they now represent a mere 0.1 per cent of platform views," Meesho said in a statement. Meesho Founder and Chief Technology Officer Sanjeev Barnwal said the company leveraged advanced techniques in computer vision and natural language understanding to

700,000 new gig jobs to come up between July and December: TeamLease

The upcoming festive season is expected to push demand on e-commerce platforms which will boost their need for gig workers like delivery and warehousing partners

Avenue E-Commerce losses widen, revenue surges past Rs 2,000 crore

In FY23, Ignatius Navil Noronha, CEO & MD of Avenue Supermarts salary stood at Rs 4.55 crore, the same as the previous year

Hike in Amazon seller fee likely to reduce discounts for customers

Other e-comm players such as Flipkart, JioMart, and BigBasket may follow suit

Biz activity for Shopify's Indian sellers up 9.8% to Rs 30,100 cr in 2022

Shopify has a total seller-base of 7.9 million registered Indian Micro, Small, and Medium Enterprises (MSMEs) on its platform

Five major e-commerce firms delist around 13,118 items from platforms

A total of 13,118 items have been delisted by these companies, Amazon delisted 8,095 alarm clips, Flipkart delisted around 5,000 clips and 21 clips were delisted by Meesho

Meesho fires 251 more in 3rd round layoffs; cites judgement error in hiring

Before this, Meesho had fired 150 employees in April and another 300 in August

Flipkart launches new 400,000 sq ft fulfilment centre in Telangana

Fulfilment centres allow e-commerce companies to outsource warehousing and shipping

Ex-Flipkart exec-led Flash.co launches new shopping email ID to reduce spam

The firm has tied up with over 40 known brands to offer a variety of rewards, cashback, and flat discounts across multiple categories including fashion, lifestyle, consumer-tech and D2C

Flipkart launches exchange programme for used ACs with doorstep pickup

Customers can make the exchange irrespective of where the AC was purchased, says company