Page 10 - Ecommerce

Amazon intends to invest $15 billion more in India: CEO Andy Jassy

E-commerce giant Amazon plans to invest USD 15 billion more in India, taking its total investment in the country to USD 26 billion, a top official of the company has said. After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested USD 11 billion in India till date. "I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India. We have invested USD 11 billion till date and intend to invest another USD 15 billion, which will bring the total to USD 26 billion. So we are very much looking forward to future of partnering," Jassy said on Friday. The India's External Affairs Ministry in a tweet said the prime minister held a productive meeting with the president and CEO of Amazon. "Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India," it said. Modi welcomed .

SoftBank-backed Unicommerce expands ops in Middle East, Southeast Asia

The e-commerce tech firm has reported a 200 per cent year-over-year revenue growth in its international business during FY 2023

Tricked into buying? Centre to form guidelines for 'dark patterns' soon

The Department of Consumer Affairs will frame the guidelines with the Advertising Standards Council of India, and they will be self-regulatory at first

E-commerce platform Meesho crosses 500 mn downloads on iOS, Android

E-commerce platform Meesho has become the world's "fastest shopping app" to cross 500 million cumulative downloads across Google Play and iOS App Store, mobile data analytics provider has said. The company has achieved the 500 million download milestone in six years, data.ai, formerly known as App Annie, said in a statement. According to data.ai, over half of Meesho app downloads (274 million) came in 2022. "Indian e-commerce platform Meesho has emerged as the world's fastest shopping app to cross 500 million cumulative downloads across Google Play and iOS App Store combined, reaching this milestone in six years," data.ai said. According to data.ai, with just 13.6 MB size, Meesho's android app is the lightest e-commerce app in India on Play Store, which makes it compatible with low-end smartphones. "We are delighted to partner with them and provide them with the insights they need to continue to grow their business," data.ai, Head of Insights, Lexi Sydow said. Meesho, CXO for use

E-com firm Meesho hints at IPO in 2025; focus shifts to generating profits

The start-up makes around 10 per cent margins on its transactions, whose average ticket size is Rs 350

Nykaa Q4 results: Net profit falls 71%, revenue from operations up 33%

Nykaa's Ebitda rose 84 per cent to Rs 70.6 crore during the quarter

Shadowfax joins ONDC for last-mile delivery services in over 700 cities

Logistics firm Shadowfax has joined government-supported ONDC for e-commerce to provide last-mile delivery service in over 700 Indian cities, the company said on Tuesday. Shadowfax is planning to scale its services to over 1,200 cities. "Shadowfax joins ONDC to offer end-to-end logistics services in over 700 Indian cities," the statement said. ONDC enables players in the e-commerce ecosystem to connect with each other and share their resources for providing services in an open manner. "Providing the best logistics experience to our customers has always been our goal, and joining ONDC is a major step towards achieving it. "This is a significant milestone in the development of technology-enabled logistics services in India, and we believe it is a crucial component of the e-commerce growth journey," Shadowfax, Co-Founder and CBO, Praharsh Chandra said. Shadowfax claims to have a base of over 1.3 lakh monthly transacting delivery partners that deliver over 15 lakh orders daily in mor

Shein is ready to make its second entry into India with Reliance Retail

The Chinese e-commerce company had first entered the Indian market in 2017

Walmart-owned Flipkart sees two top-level exits, both after eight years

Early this year, Flipkart told staff it won't be handing out increments to senior leadership in a 'difficult decision' that was expected to impact 4,500 personnel

With growing user base, ONDC can start a price-war in ecomm market: Report

However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others

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

Small grocery stores are making a comeback despite growing ecommerce demand

Despite the rapid rise of modern trade and ecommerce, FMCG companies said they would continue to focus on direct distribution in both urban and rural areas, primarily targeting local grocers

Telangana recorded 40% rise in online orders in FY22: Unicommerce

The data also revealed that consumers from Telangana are shopping across various categories

Government's e-commerce network ONDC available in 236 cities: CEO

The government has said existing platforms are tightly controlled, keeping out many small players. It expects ONDC to increase competition and foster start-up innovation

Discounts, incentives not funded by govt money, clarifies ONDC CEO Koshy

Recently, ONDC has gained a lot of traction because of the stiff competition it is posing to major food aggregators like Swiggy and Zomato

E-commerce platforms growing slower than expected as sale drops: Report

According to several industry insiders, the pandemic-related tailwinds that drove significant growth in online shopping are now waning

ONDC faces weakening growth online, snags likely to hit expansion

The executives, who closely monitor ONDC's ecommerce integrations, reported that order returns and rejections for online purchases made through ONDC partners have been high

Digital India Act: Unravelling regulatory tangles in e-commerce space

Ambitious proposal for an overarching Digital India Act that aims to improve ease of doing business for rapidly expanding sector likely to face challenges of overlapping ministerial responsibilities

India's e-commerce logistics space to exceed 10 bn parcels by FY28: Redseer

The total shipments for e-commerce logistics grew to 4 billion in FY23

Agri-commerce startup WayCool looking to become Rs 6,000-cr entity by FY25

IFC-backed agri-commerce startup WayCool Foods is looking to become a Rs 6,000-crore entity by FY25, up from Rs 2,000 crore in FY23, driven by its fast-growing food products vertical. Chennai-based WayCool was founded by auto industry veteran Karthik Jayaraman and Sanjay Dasari, the son of the ex-head of Ashok Leyland Vinod Dasari in 2015. It was founded as a social enterprise and agri-tech company. Later it diversified into agri-products with a slew of ready-to-cook and other packaged food brands such as Madhuram, Dezi Fresh, Lexotique, Kitchenji, and Freshey's. These brands have fetched around 25 per cent of its Rs 2,000 crore revenue in FY23, up from 10 per cent in the previous fiscal, it was Rs 1,000 crore. Jayaraman, the cofounder and managing director, expects this to scale to 35-40 per cent by FY25, when the company targets to log in Rs 6,000 crore turnover. "We closed FY23 with Rs 2,000 crore of topline. Of this, as much as 25 per cent came from the branded products and ..