Page 4 - E-commerce Market

10-min delivery: Blinkit partners with Sony to sell PS5 Slim on launch day

Customers in Delhi NCR, Mumbai, and Bengaluru can now get the all new PlayStation 5 Slim editions and controllers delivered in 10 minutes, said Blinkit in a press note

Swiggy records $200 million loss in nine months to December 2023: Report

The document showed that losses stood at 17.3 billion rupees $207 million during April to December 2023 - the first nine months of fiscal year 2023-24

Amazon invested $1.2 bn, hired 15,000 people in 2023 to tackle counterfeit

Online marketplace Amazon invested more than USD 1.2 billion and hired about 15,000 experts in 2023 to protect the brand, its sellers, and customers from fraud and counterfeit, according to the Amazon 2023 Brand Protection Report. Amazon said when a customer purchases from the store, they trust they will receive an authentic product, and when businesses choose to sell in the store, they trust Amazon to provide a great selling experience free from competition with bad actors. "In 2023, Amazon invested more than USD 1.2 billion and employed more than 15,000 people, including machine learning scientists, software developers, and expert investigators, who were dedicated to protecting customers, brands, selling partners, and our store from counterfeit, fraud, and other forms of abuse," it said. Amazon said it uses document forgery detection, advanced image and video verification, and other technologies to confirm the authenticity of government-issued identity documents quickly and whethe

India bright on global players's radar, optimistic on future: Falguni Nayar

India is beeping on the radar of global players with strong drivers like young, aspiring population, rising income levels, and resilient infrastructure and digital networks, Nykaa founder and CEO Falguni Nayar said on Monday, adding she is extremely "optimistic" and "confident" about the future. In an exclusive interview with PTI, the self-made billionaire also said the recent instances of corporate governance lapses in some well-known startups will lead to greater scrutiny by investors (in the ecosystem), and asserted that governance agenda has to be set out very early in an entrepreneurial journey. Any compromise on governance just because a company is growing or chasing size and scale cannot be justified, she emphasised. Nykaa, she added, has been very strong on governance. Nayar - the top boss at omnichannel beauty and fashion retailer Nykaa - said her entrepreneurial journey - which started at the age of almost 50 - has been "amazing" and advised aspiring entrepreneurs to be .

Delhi govt develops portal for licensing cab aggregators, e-commerce cos

The Delhi government has developed a portal to facilitate licensing, payment of fees and regulate cab aggregators, delivery service providers and e-commerce entities. The Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme - 2023 was notified by the government last year. Service providers and e-commerce entities with more than 25 vehicles in their fleet will have to register on the portal to obtain a licence. "All licence holders are requested to register their existing fleets operating in the NCT of Delhi. All existing aggregator and delivery service providers operating within the NCT of Delhi shall obtain a licence within a period of 90 days," according to a public notice issued by the Transport department. The notice was uploaded on the department's website on Friday. The department's dashboard to monitor the progress of the scheme can be accessed at myfleet.delhi.gov.in. The licences will be valid for five years. The scheme mandates service providers to ensur

Alibaba discloses Chinese govt ownership in over 12 of its business units

The filings come as China's ruling Communist Party said this month that it will play a bigger role in steering the country's technology and science development

Logistics' cost structure biggest challenge for e-commerce: Flipkart CEO

E-commerce in India is at a nascent stage and cost structure of logistics is the biggest challenge for the segment, a top official of Flipkart said on Tuesday. Speaking at Walmart Growth Summit, Flipkart CEO Kalyan Krishnamurthy said the government has simplified taxation and adopted ease of doing business as a strategy, which is one of the factors driving growth of the e-commerce segment. "One of the biggest challenges for e-commerce alone to solve is the cost structure of logistics. India, in general is a low ticket price market. Whenever we are able to get to further (lower logistics) cost structure, is when we will be able to further increase the penetration in commerce," Krishnamurthy said. The e-commerce company has plans to transition its delivery fleet to electric vehicles by 2030. Krishnamurthy said the e-commerce penetration in India is around 7-8 per cent compared to retail but in some product categories like electronics, it is high. "Tax simplification used to be one o

EESL launches Beta version of e-commerce platform for affordable solutions

State-owned EESL on Monday announced the launch of the Beta version of its e-commerce platform that will offer affordable energy-efficient appliances and solutions to customers. The platform, eeslmart.in, lists energy-efficient appliances such as LED bulbs, inverter LED lamps and fans, at present. "EESL plans to expand its offerings to include 5-star bulbs and other luminaires, super-efficient ACs, energy-efficient motors, e-bicycles, and induction cookstoves etc," Energy Efficiency Services Ltd (EESL) said in a statement. EESL Chief Executive Officer Vishal Kapoor said the objective is to enable the people to make sustainable choices and bridging the information gap on energy-efficient products and services. EESL is a joint venture of public sector undertakings under the Ministry of Power.

Not hiked fee, no plans for significant increase in near term: Swiggy

On-demand convenience platform Swiggy on Wednesday said it has not hiked its platform fee and no plans for a significant increase in the near term. The company, which currently charges Rs 5 as a platform fee to customers, clarified it had 'teased' to a "very small set of users" of Rs 10 as an experiment but was never implemented. "Swiggy has not changed its platform fee, and has no plans for a significant increase in the near term," a Swiggy Spokesperson said in a response to a query on the report of the company hiking its platform fee. Further, the spokesperson said, "We're always running small experiments to better understand the consumer's choices. This was one such experiment, and we may or may not scale it up in the future if it doesn't meet our goal of serving our users in the best way possible." Swiggy is always looking for ways to make its platform more affordable, and the latest offering, Pockethero, is another example of that, according to the company. "Pockethero is ...

DMart Q3 results: Net profit rises 17% to Rs 690.6 cr, revenue up 17.31%

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday, reported a 17 per cent rise in its consolidated net profit to Rs 690.41 crore for the third quarter ended December 31. The company had posted a net profit of Rs 589.64 crore in the October-December quarter a year ago, according to a regulatory filing by Avenue Supermarts. Its revenue from operations grew 17.31 per cent to Rs 13,572.47 crore during the quarter under review against Rs 11,569.05 crore in the corresponding quarter of the last fiscal. Avenue Supermarts' total expenses rose 17.31 per cent to Rs 12,656.46 crore in the third quarter of this fiscal. Its total income in the December quarter increased 17.28 per cent to Rs 13,605.39 crore. The total number of stores stood at 341 as of December 31, 2023. Meanwhile, in a separate filing, Avenue Supermarts said its board has appointed Harishchandra M Bharuka as an Independent Director of the company. Promoted by Radhakishan Damani and his family,

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

E-commerce firm Meesho recruits 150 during campus hiring, to take in more

Recruitments reflect 'robust road map for 2024', says Meesho, which is an e-commerce firm backed by SoftBank

DMart's standalone revenue rises 17.2% to Rs 13,247 cr in Oct-Dec quarter

Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Tuesday reported a 17.18 per cent increase in its standalone revenue from operations to Rs 13,247.33 crore in the third quarter ended on December 31, 2023. The company had revenue from operations of Rs 11,304.58 crore in the October-December quarter a year ago, according to a quarterly update by Avenue Supermarts. "Standalone Revenue from operations for the quarter ended (QE) December 31, 2023 stood at Rs 13,247.33 crores," said Avenue Supermarts in a regulatory filing. The total number of stores as of September 30, 2023 stood at 341. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.

Food, quick delivery platforms clock all-time high orders on New Year's Eve

While Bengaluru, New Delhi, and Mumbai saw the highest number of orders among the metros, cities such as Jaipur, Chandigarh, and Ahmedabad too witnessed significant demand

Retail, e-commerce likely to see fairly good year ahead: Snapdeal CEO

Retail and e-commerce businesses are likely to see a "fairly good" year ahead, given the strength of the Indian economy and uptick of demand in various categories as well as traction from semi-urban locations, according to Snapdeal CEO Himanshu Chakrawarti. "As we are seeing currently, our economy is in a very good shape and all aspects of the business, specifically the categories that we operate in, which is in the in disposable income categories... I think we're going to see a significant boost-up next year," Chakrawarti told PTI. He was speaking on the sidelines of Digital Acceleration & Transformation Expo (DATE with Tech). "We are seeing greenshoots come through even in the semi-urban areas and with the tailwind that we have, I think both retail and e-commerce should see a fairly good year in 2024," Chakrawarti said. On Snapdeal's expansion plans, the top boss of the e-commerce platform said it is looking at ways to reach out to more and more people in the hinterland, and to .

Unicommerce revenue up 52% at Rs 90 cr in FY23, marks third year of profit

Gurugram-based company enables end-to-end management of e-commerce operations

Indian e-commerce exports should touch $200 billion in next 6-7 years: DGFT

The Director General also mentioned that the DGFT, along with other regulatory agencies, has undertaken numerous steps and initiatives to facilitate e-commerce exports

Public procurement of services from GeM portal may touch Rs 1.5 trn in FY23

Procurement of services from government portal GeM is expected to touch Rs 1.5 lakh crore this fiscal on account of an increase in buying activities by different ministries and departments, a senior official said on Wednesday. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. "Services procurement was just Rs 3,069 crore in 2019-20. It reached Rs 65,957 crore in 2022-23. This fiscal it is expected to reach Rs 1.50 lakh crore," GeM CEO P K Singh told reporters here. He said that the top buyers of services included Central Public Sector Enterprises (CPSEs) like Coal India, NTPC Ltd and ONGC, and states and central ministries such as coal, power, defence and finance. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services. Currently, government departments, ministries, public se

India pitches for clear definition of e-commerce trade in goods in WTO

India has asked the WTO members to work on a clear definition of e-commerce trade in goods and services as it would help provide developing countries a policy space to make decisions on the fast-growing sector, an official said. At present, there is a difference of understanding about the subject between developed and developing member countries of the World Trade Organization (WTO). The issue came up for discussion during a recent meeting of senior officials of WTO members in Geneva last week. "India stated that the definition should be clear about digital goods and services because customs duties are there on goods and not on services. The Western world wants no customs duties, and on the other hand, developing countries want that policy space to impose the duties," the official said. Customs duties help protect domestic industries and provide a policy space to support the growth of MSMEs. Though certain WTO members have been discussing the e-commerce issue since 1998, there is

Amazon discloses 181 mn users in EU in first store transparency report

In August, the Digital Services Act (DSA) imposed new rules on content moderation, user privacy and transparency for platforms and search engines labelled as very large online platforms