Page 7 - E-commerce Companies

Flipkart, Walmart ink MoU with NSIC to speed up capacity creation for MSMEs

The three plan to support MSMEs in their quest to integrate with local and global retail supply chains

Rs 20K-crore Adani FPO to be fourth biggest fundraise by India Inc

RIL's rights issue in 2020 for Rs 53,124 cr remains the single-biggest equity issuance by an Indian firm

To 'make Amazon pay', Indian trade unions join Black Friday protest

Agitation part of global campaign against e-commerce firm

Prosus posts $80-million loss on investment in PayU India

Technology investor Prosus on Wednesday reported widening of its consolidated trading loss to USD 80 million, about Rs 654 crore, on account of investment in PayU India business during first half of the current fiscal. The Netherlands-based investor firm, however, registered a 59 per cent growth in total payments volume (TPV) at USD 28 billion, about Rs 2.29 lakh crore, in India. PayU revenue increased to USD 183 million, about Rs 1,497 crore. "Consolidated trading losses expanded to USD 80 million, as we continued to invest in growing our credit operations in India. In India, our largest payments market, TPV grew 59 per cent to USD 28 billion, and revenue increased 48 per cent to USD 183 million, following increased digitalisation in e-commerce, financial services and bill payments, and a rebound in post pandemic travel," the company said. The Prosus group's overall trading loss widened to USD 1.4 billion during the reported period from USD 2.8 billion a year ago. The revenue of

Review needed

Govt should address consumer complaints, not monitor product reviews

Govt proposes guidelines to combat fake online reviews and ratings

Some companies have been criticised by consumers and industry experts for downplaying negative reviews, or accepting fake ratings, making the vetting process difficult for buyers

Top headlines: Draft personal data protection Bill, e-commerce fake reviews

Business Standard brings you the top headlines at this hour

Amazon becomes world's first listed firm to lose $1 trillion in market cap

Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak

Aditya Birla Fashion Q2 revenue up 50%, hits lifetime high; profit rises 6x

ABFRL is aggressively expanding its network across brands with Pantaloons adding 21 outlets on a net basis and the branded business taking the store count up by 85

Consumer protection rules: E-tailers may need user nod to share data

E-commerce firms may have to incur higher costs for upgrading tech to comply with norm

Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr

The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year

Flipkart unveils Flipverse, a virtual shopping experience in metaverse

The e-commerce firm has partnered with Web3 entertainment firm eDAO for the initiative where consumers can discover products in photorealistic virtual destinations and shop on Flipkart App

SoftBank-backed Meesho records nearly 68% jump in festival sales

Customers placed a record of about 33.4 million orders during the mega sale with nearly 60 per cent of all orders coming from tier 4+ cities.

E-com firms ramp up hiring delivery staff to meet festival season demand

Companies such as Flipkart, Amazon, Meesho and Myntra are gearing up to host their biggest festive sale events without covid restrictions for the first time in three years

Amazon, Flipkart HQs get battle-ready: Draw up sales strategy in war rooms

E-commerce firms are also bringing in various technology interventions that will help them handle the scale of business this season and enhance customer experience

E-commerce entities may face heavy penalty for posting fake reviews: Report

A committee formed by the Department of Consumer Affairs is finalising changes in the norms related to fake reviews, which were formulated by the Bureau of Indian Standards (BIS) in 2021

Online shopping services shut down in Afghanistan due to economic crunch

Almost all major online shopping services in Afghanistan have shut down, with the two major online shopping services recently announcing to shut down their services.

E-commerce firms again top list of sectors with maximum consumer grievance

Centre plans Lok Adalats to dispose of pending cases in consumer commissions

Flipkart launches Flipkart Hotels for domestic, international market

Flipkart Hotels will provide customers with the opportunity to book hotel rooms across 300,000 domestic and international hotels

Delhiites in favour of EV transition for delivery, e-commerce firms: Survey

A new consumer survey shows strong support from Delhi consumers for the proposed aggregator scheme of the city government which requires a time-bound transition to electric vehicles by last-mile delivery and e-commerce companies. The proposed scheme sets an April 30, 2030 deadline for the complete transition of Internal Combustion Engines (ICE) to electric vehicles (EV) among e-commerce, delivery and transport logistics service providers. Commissioned by the Sustainable Mobility Network and conducted by CMSR Consultants, the survey shows that 80 per cent of the 1,508 respondents in Delhi attributed last-mile delivery vehicles as one of the reasons for rising air pollution in the city. According to the survey, 95.2 per cent of the respondents agreed that a switch to EVs by delivery companies is important for addressing air pollution issues and mitigating climate change. The survey, conducted through a mix of offline on-ground interviews (70 per cent) and online survey responses (30