Page 4 - E Commerce Firm

Govt, experts talk SOPs for contemporary issues under modern FTAs

There were also suggestions that FTAs can be used as tools to enhance supply chain resilience, ensuring stability and sustainability in trade relationships

Meesho raises $275 million, eyes $600 million in ongoing round

Meesho plans to utilise its primary capital of approximately $300 million to cover taxes resulting from relocating the company's base back to India from Delaware

Emerging from seclusion, Jack Ma voices support for overhaul at Alibaba

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

UP extremely important, one of fastest-growing markets for Amazon: Srikanth

Terming Uttar Pradesh as an "extremely important" and "one of the fastest-growing markets" for Amazon.in, a senior company official said 2023 witnessed healthy double digit growth, and that momentum has continued this year, too. "In Uttar Pradesh, we are delivering across all districts and all serviceable pin codes. In 2023, we saw more than 25 per cent growth year-on-year, and that momentum has continued in 2024 as well," K N Srikanth, Director, Home, Kitchen and Outdoors, Amazon India, told PTI. "In the first three months (of 2024), we have seen more than 25 per cent growth year-on-year on a large base. So it's a very important and large market for us," he said. "Lakhs of our customers, and more than 1.6 lakh sellers are based out of Uttar Pradesh," K N Srikanth, who was in Lucknow on Tuesday to attend a daylong event to "celebrate the success of Amazon in the region", said. "Hence you will also see that we have large fulfilment centres here to store products from sellers, and sh

Amazon India revises seller fees for 2024 due to macroeconomic factors

Starting April 7, there will be changes in referral fee, closing fee and weight handling fee, besides other fee heads, for sellers on Amazon.in

A battle of delivery speeds: Blinkit, Zepto ignite quick commerce firestorm

Zepto's daily and monthly active user growth annually is faster than rivals, but Blinkit has more customers than Zepto

Digital commerce platform OTO raises $10 mn from K L Rahul, others

Digital commerce platform OTO on Tuesday said it raised USD 10 million (around Rs 83 crore) from a clutch of investors, including cricketer K L Rahul. The fresh funding was led by GMO Venture Partners with participation from Turbostart, cricketer K L Rahul and a few other family offices as well as existing investors Prime Venture Partners, Matrix Partners, and 9Unicorns funds, OTO said. The investment is aimed at expanding the company's presence to over 30 cities and strengthening its existing partnerships. "OTO has recently raised funding of USD 10 million," the platform said. The latest funds will strategically expand OTO's presence to over 30 cities, support the transition to electric vehicles, and fortify existing partnerships, it added.

Flipkart leads e-comm mkt with 48% share, Meesho fastest growing platform

Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. " As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce. Flipkart continues to grow faster than the industry... Mobile and apparel to be the largest categories for Flipkart with around 50 per cent and 30 per cent mix. Flipkart is estimated to hold 48 per cent and 60 per cent market share in online smartphone and online fashion market respectively," the report said. The report attributed growth in Meesho's market share primarily to its strategic focus Tier 2 and small

DealShare elevates Kamaldeep Singh as CEO, third cofounder Medda quits

DealShare emphasized that it remains sufficiently well-capitalized and enjoys strong support from its board and investors

Meesho turns profitable with losses halved to Rs 1,675 cr in FY23

The company's revenue grew 77 per cent to Rs 5,735 core

Nearly 75,000 sellers on Meesho record double digit growth in sales

Around 75,000 sellers achieved double-digit growth while over 20,000 sellers witnessed a 10-times jump in their business on Softbank-backed e-commerce firm Meesho, the company said on Sunday. Meesho is the first unicorn e-commerce firm to have reported profit this year and it claims to have maintained the profitability since it first reported the performance in July. The company claimed that nearly 10,000 Meesho sellers crossed the Rs 1 crore sales mark and 130,000 registered sales of over Rs 1 lakh during 2023. Around "60 per cent of these sellers come from small towns like Avinashi, Bharuch, Fiazabad and Silchar", Meesho said. Meesho said that it added around 7 lakh new sellers this year taking the total number to 15 lakh this year. The company recorded transactions for 14 crore customers and claimed that nearly 80 per cent of the orders came from tier 2 and smaller markets. Meesho said that it recorded a unique pattern of customers placing maximum orders on Sunday. "Indian sho

Zepto claims 2nd spot in monthly active customers, surpasses JioMart

In contrast, Tata-owned BigBasket lost ground, seeing a 3 per cent decline in M-o-M MAU in November, and DMart Ready decreased by 2 per cent

E-commerce volumes surge by 23% during Black Friday sales: Unicommerce

Black Friday surge was not limited to metro cities alone. Tier-III cities reported the highest growth of 43 per cent, followed by 19 per cent growth for Tier-I cities and 16 per cent in Tier-II cities

Amazon India, WBIDC sign MoU to boost e-commerce exports from West Bengal

WBIDC will build e-commerce export hubs and set up e-commerce exports facilitation cell in key districts across West Bengal including Kolkata

Ajio launches D2C content-driven interactive e-commerce platform Ajiogram

Easily accessed by switching stores within the Ajio app, Ajiogram aims to onboard 200 exclusive homegrown D2C brands by next year

Govt starts hackathon to fight dark patterns on e-commerce websites

Dark patterns are defined as practices or deceptive design patterns using user interface/user experience interactions on any platform, designed to mislead or trick users

Venture Highway gets 50x returns in secondary sale of stake in Meesho

Venture Highway, an early and long-term backer of Meesho, invested in the company's first seed round over eight years ago

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

E-commerce firm Meesho logs 10 million orders in pre-festival sales event

The SoftBank-backed firm expects over 3X growth during the upcoming festive season

E-commerce firms scale up tech efforts for upcoming festive season

Online retailers, startups are scaling up their tech and innovation efforts to handle demand from shoppers during festive season and make their shopping and payment experience seamless