Page 13 - Ecommerce

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 ..

Walmart sees more than 2,000 job cuts in e-commerce warehouses across US

The losses include more than 1,000 positions at a warehouse in Fort Worth

Govt's new foreign trade policy set to boost domestic manufacturing

Apart from that, under the policy, e-commerce as export hubs (ECEH) will be set up through private initiative or in public-private partnership (PPP) mode, in partnership with the states or the Centre

magicpin becomes largest restaurant aggregator on ONDC with 22,000 outlets

Plans to add 5,000 more restaurants to its network in three months; Besides tech integration on ONDC, the firm will also be fulfilling all backend logistics related to ordering and delivery

India's ONDC forays into the mobility segment; takes on Uber and Ola

Incorporated in December 2021, ONDC said its aims to create a facilitative model that revolutionises digital commerce, giving greater thrust to penetration of retail e-commerce in India

Amazon's accelerator programme to support 50 Indian D2C startups

Amazon Global Selling Propel Startup Accelerator (Propel S3) is a key part of the e-commerce giant's commitment to enabling $20 billion in e-commerce exports from India by 2025

India to see avg salary hikes of 10.2% in 2023, biggest in e-commerce: EY

Average salary hikes in India will be lower in 2023 compared to 2022, says EY's 'Future of Pay 2023' report. E-commerce, professional services and IT to the biggest hikes

Flipkart undertakes management rejig amid resignations, high costs: Report

Ravish Sinha, senior VP at Flipkart, has resigned. He was the VP of engineering before taking up the role of SVP of supply chain

FinMin pushes PSBs to enhance procurement via GeM to Rs 10,000 cr in FY24

GeM Sahay to provide short-term loans to all sellers

Half of Myntra's beauty product orders now come from Tier-2 and 3 cities

The Walmart-owned fashion retailer is scaling up its operations to tap the BPC market, which is expected to grow $38 billion by 2028

New platforms less compliant on mandatory display of details online: survey

Findings of the LocalCircles study escalated to Dept of Legal Metrology for further review and corrective action

IPO-bound Swiggy announces Dineout offerings for all users across 24 cities

The firm's quick commerce arm, Instamart, is currently operational in over 25 cities, and Genie - its pickup and drop service - is available in 68 cities

No increments for Flipkart's 4,500 senior personnel this cycle

However, 70 per cent, or 10,500 employees, below the level of a manager, will receive an increment this cycle

E-commerce companies offer value products to woo Bharat as demand rises

Value e-commerce offers quality merchandise at affordable prices, mainly under Rs 1,000

Blinkit looking to expand dark store count by 40% over next 12 months

Quick commerce player Blinkit is looking to expand its micro-fulfilment centres or dark stores, targeting up to 40 per cent increase in store count in the next 12 months, according to company CEO Albinder Dhindsa. The company, which was acquired by online food delivery firm Zomato last year, currently has over 400 dark stores that act as warehouses. "We have identified several new high potential neighbourhoods in existing as well as new cities. We should start seeing the net dark store number increase going forward," Dhindsa said in an earnings statement. He further said, "We are seeking opportunities for store openings in high potential areas based on the data our systems generate, the management bandwidth and time to supply creation." Dhindsa, however, said unlike the food delivery business, the growth in quick commerce business is dependent on various factors such as availability of product from the brand, seller ability and supply chain capacity. "Only when we feel confident t