Page 6 - E Commerce Firm

E-com firms log 28% rise in orders in first 2 days of festive season: Study

Personal care and electronics excluding cell phones are the two top categories in terms of sales

Fintech firm udaanCapital says it enabled Rs 2,200 cr credit to retailers

Company says 'working capital availability in the country is huge as small businesses adopt digital payments

Amazon to shutter virtual health care service Amazon Care by Dec 31

Amazon is shutting down the hybrid virtual, in-home care service it's spent years developing, a surprising move that underscores the challenges it faces as it moves into health care. The service, called Amazon Care, will end by December 31, according to an email sent to staff by Neil Lindsay, senior vice president of Amazon Health Services. Amazon Care was launched in 2019 for Seattle-based Amazon's Washington state employees, who served as trial users before the company made it available last year to its workers in all 50 states. The service connects patients virtually with doctors and nurses who can provide treatment 24 hours a day. It does not have physical locations, but offers in-person services for things like vaccinations and flu testing in several cities, including Seattle and Washington, D.C. Amazon's decision to pull the plug on Amazon Care is even more surprising given the company said in February it was planning to expand the in-person care service to include 20 additio

India's e-commerce firms hire more delivery workers for shopping season

Gig work employment, of which delivery workers and salespersons form a large chunk, is expected to reach 9.9 million in India in 2022-23, up about 45% from 2019-20

E-comm platforms can't allow third-parties to latch on to other sellers: HC

The Delhi HC has said that an e-commerce platform permitting a third-party seller to latch on to the name or mark and product listings of another seller on its platform is nothing but riding piggyback

Nykaa consolidated net profit rises 42% to Rs 5 crore in June quarter

The consolidated revenue from operations of Nykaa increased by 41 per cent to Rs 1,148.42 crore during the reported quarter from Rs 816.99 crore in June 2021 quarter.

Flipkart to focus on decarbonisation, commits to net zero emission by 2040

Flipkart Group will focus on key areas of impact -- such as sustainable platform, responsible value chain and positive collaborations -- to achieve a clearly-defined decarbonisation pathway

Flipkart starts initiative for academic, extracurricular needs of students

Students form a growing base of customers for the e-commerce giant, constituting close to 32% of all e-commerce shopping

Flipkart Pay Later doubles its user base to over 6 mn in just 7 months

Flipkart Pay Later now provides customers credit up to Rs 1 lakh, depending on the customer's credit profile

Created over 1 mn jobs in India, enabled nearly $5 bn in exports: Amazon

These jobs are across industries like IT, e-commerce, logistics, manufacturing, content creation, skill development and more

Amazon CEO Jassy says will improve workers' safety amid criticism

"Our injury rates are sometimes misunderstood. We have operations jobs that fit both the 'warehousing' and 'courier and delivery' categories," Jassy said late on Thursday

SoftBank sold shares worth $1 billion in Korean e-commerce firm Coupang

SoftBank Group Corp's Vision Fund sold shares worth $1 billion in Korean e-commerce firm Coupang, a filing showed, amid a slump in the value of the tech investment firm's holdings

E-commerce firm Indiamart acquires 26% stake in Realbooks for Rs 13.75 cr

B2B e-commerce firm Indiamart on Monday announced acquisition of 26.01 per cent stake in cloud-based account software firm Adansa Solutions for Rs 13.75 crore. As part of the transaction, Indiamart's wholly-owned subsidiary Tradezeal Online Private Limited has acquired shares via a mix of primary and secondary share purchases. "Unlike existing desktop based software solutions which were designed for traditional businesses, the team at Realbooks has consciously designed a cloud first product which makes it appealing for new age businesses. "We believe that this investment complements other initiatives we are taking within this space, and are excited to partner with them for their next phase of growth," Indiamart CEO Dinesh Agarwal said in a statement. Adansa Solutions under the brand name 'Realbooks', offers a cloud based accounting software product for businesses and had turnover of Rs 2.6 crore in financial year 2021.

Alibaba Group overhauls e-commerce business amid onslaught of woes

It's creating two digital commerce teams, each for international and domestic markets

Myntra makes foray into social commerce at scale with 'M-Live'

M-Live brings a first-of-its-kind, interactive and real-time live shopping experience

Gofers plans to open 150 more dark stores by December for quick commerce

E-commerce firm Grofers plans to open 150 dark stores by December, taking the total count to 350, for quick commerce to deliver orders in about 10 minutes, the company's co-founder said Wednesday. The company claims to have a 3 million monthly order run rate and growth of 3.5 times in the last two months while gaining one million quick commerce users. "At Grofers, we are all humbled by these stories every day, and it motivates us to do more for our country and communities. We have been able to roll out 200 stores in the last three months and are working hard with entrepreneurs like Hardik to roll out another 150 stores in the next 45 days," Grofers co-founder Albinder Dhindsa said in a blog. The company's spokesperson said that the average weekly retention in the segment is 50 per cent, which means half of the users come back next week itself to order again and consistently keep coming back. Grofers claims to have recorded a weekly ordering frequency of 4.5 orders for users who hav

Snapdeal's Power Brands to give wider choice to budget-conscious

These Power Brands help systematically aggregate the supply of such merchandise on the platform

Currently investigating use of platform for sourcing marijuana, says Amazon

The company takes strict action as may be required under the law in case sellers list such products, a spokesperson said

Bizongo turns profitable; eyes $300 mn in annualised revenue by FY22

The tech-enabled B2B e-commerce platform for customised goods, has grown four times since the start of the year, and already surpassed $200 million in annualised revenue.

Flipkart ropes in JP Morgan's Saroj Panigrahi as Senior VP ahead of IPO

Bijoya Roy will transition into the role of vice president, head of legal for Flipkart Operations and report to Panigrahi