Page 9 - Ecommerce

Myntra to introduce changes to its return policy, lower convenience fee

Myntra said that flat charge of Rs 199 to Rs 299 per order may impact user behaviour that is adverse to Myntra's business and is likely to affect not just high-return users but also their wider circle

HSBC India launches 'ONDC in a Box' to expand corporate offerings

HSBC India on Thursday announced the launch of 'ONDC in a Box', a one-stop-shop proposition for corporates towards seamless enablement on ONDC. With this launch, HSBC India becomes the first foreign bank in India to offer an ONDC-enabled proposition, the lender said in a statement. The Open Network for Digital Commerce (ONDC) is an initiative by Department for Promotion of Industry and Internal Trade, and Ministry of Commerce and Industry to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform. ONDC aims at fostering an inclusive, competitive, and open network, amplifying its impact across the business spectrum. "The 'ONDC in a Box' proposition by HSBC India is presented along with its ecosystem partners - Protean eGov Technologies Ltd (Protean) and Shayr Omnichannel Private Limited (Adya). As part of this proposition, banking services are offered by HSBC India and the ONDC Modules are offered by Protean a

Need to broaden participation to expand digital commerce in India: ONDC

The country needs wider participation of buyers and sellers to expand digital commerce in the next few years, Open Network for Digital Commerce (ONDC) CEO T Koshy said on Tuesday. "If you look at today's digital commerce in the country, it is limited to 10 per cent and just 2-3 per cent on the buyer side, so we need to broaden and expand the participation so that the current levels can go up to 25-30 per cent in the next few years. "We are working in each of the segments to understand the challenges and building mechanisms to address them and to enable broad-based participation," Koshy said while speaking at the 3-day 'Global Fintech Fest 2023' that began on Tuesday. Digital commerce is just starting in the country. There are huge challenges ahead, and soon, there will be domains that will enable international transactions for people to buy from the India network, he added. "The key thing is while we are doing all this technology enabling, we have to understand that there is a need

Japan's Mercari opens centre of excellence in Bengaluru, its first in India

E-commerce firm aims to double its workforce in India to more than 80 employees

Uniqlo India sees 15% of its sales come from online channels: CEO

Expands to West India after opening 10 stores in North

Several Dunzo dark stores go offline in Bengaluru amid worker salary delays

Dunzo's salary deferrals come even as the firm raised $75 million in funding through convertible notes in April this year, indicating its high cash burn rate

Broad level of consensus among stakeholders on proposed ecommerce policy

A broad level of consensus has emerged among the concerned stakeholders on the proposed national e-commerce policy, which is under formulation, a senior government official said on Thursday. The commerce and industry ministry on August 2 held a detailed discussion with representatives of e-commerce firms and domestic traders body CAIT on issues related to the sector including the policy for the segment. "There is a broad level of consensus. We will tell you more, may be in a couple of weeks. Policy is in final stages. There is a level of consensus across all stakeholders," the official said. Both the policy and the rules will be aligned to each other, the official added. Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal, who attended the meeting, has said it was indicated that the national e-commerce policy would be released by the government in the coming months. "A unanimity was arrived at between all stakeholders about basic pillars of e-commerce po

Walmart buys Tiger Global's stake in e-com giant Flipkart for $1.4 billion

Separately, venture capital firm Accel also sold its 1 per cent stake in Flipkart to Walmart, the Economic Times reported

Magicpin starts selling tomatoes for Rs 70 per kg through ONDC partners

Hyperlocal e-commerce startup magicpin in a pact with NCCF has started selling tomatoes for Rs 70 per kilogram through select online platforms registered on the government-backed ONDC, the company said on Friday. Consumers can order tomatoes through magicpin app, Paytm, PhonePe's Pincode, Mystore in Delhi-NCR and select few cities under the arrangement, it said in a statement. "We have witnessed an overwhelming response, delivering 1,000 orders across over 90 pincodes in Delhi-NCR in just 2 days. NCCF and ONDC's initiative aims to stand with the consumers during challenging times," magicpin CEO and Co-Founder Anshoo Sharma said. To cater to the needs of a larger consumer base, magicpin is offering a maximum purchase limit of 2 kilogram of tomatoes at Rs 140 per user per week and those will be delivered to the doorstep of consumers. "On behalf of the central government, cooperatives NCCF and NAFED are already selling tomatoes at Rs 70 per kg to retail consumers through mobile vans i

Indians most impatient online shoppers, expect deliveries in 2 hrs: Report

The report by Wunderman Thompson suggested that Indian consumers expect their deliveries to arrive in less than two hours

GST Council to clarify on TCS liability of e-commerce suppliers on ONDC

The GST Council on July 11 is expected to clarify on the TCS liability of suppliers engaged in e-commerce trading through Open Network Digital Commerce in cases where multiple operators are involved in a transaction. ONDC or Open Network for Digital Commerce is a new initiative of the department for promotion of industry and internal trade (DPIIT). So far, there is no clarity on who should be liable for TCS compliance under GST laws. Under the Goods and Services Tax (GST) law, every e-commerce operator is required to collect TCS at the rate of 1 per cent of the taxable value of goods/services sold through its platform. Sources said the Law Committee, comprising Centre and state tax officers, has recommended to the Council that in a situation where multiple e-commerce operators (ECOs) are involved in a single transaction through ECO platform, the TCS compliances is to be done by the supplier-side, who finally releases the payment to the supplier. ONDC's open network operates in two

E-com firms' demand for gig workers up as shopping festivals near: Study

'Numerous opportunities' for individuals in flexible and on-demand work arrangements, it says

Meesho, IISc to conduct joint research in generative AI to drive ecommerce

Meesho is collaborating with Vision & AI Lab of IISc for joint research in the area of generative AI with a focus on driving technological advancements in the e-commerce industry

Professional services industry hired maximum people between January and May

It was followed by BFSI and e-commerce industries with 16% rise in their headcounts

Colgate-Palmolive focusing on premiumisation as part of growth strategy

Colgate-Palmolive (India) Ltd is looking at opportunities to drive premiumisation in the health, therapeutic toothpaste and oral beauty segments for metro and urban cities, as per the latest annual report of the company. Colgate-Palmolive (India) Ltd (CPIL) also sees a "significant room" to deepen the penetration of oral care adjuncts like floss and mouthwash. "Outside of oral care, the company sees opportunity in skin care, hair care, bath & shower products that have the largest market size within the beauty & personal care segment," it said. Rising incomes, rising aspiration and the democratisation of availability through e-commerce have led to rapid growth in these categories, CPIL added. "There is also an opportunity for premium and innovative products in metros and urban cities in the space of family health, therapeutic toothpaste and oral beauty," it said. Besides, CPIL is committed to building a strong personal care portfolio leveraging the high recall of the brand ...

DealShare to invest Rs 1,000 cr in 5 yrs to help MSME partners scale biz

B2B e-commerce firm DealShare plans to invest Rs 1,000 crore over the next five years to help its MSME partners scale up their businesses, a senior company official said on Tuesday. The company plans to make investments mainly in six states -- Uttar Pradesh, Rajasthan, Haryana, Himachal Pradesh, Gujarat and Maharashtra. "Not only, we provide MSME partners support in terms of order volume, but also in research and development of their product. We will invest in the inventory that MSME partners will make. This will give them the confidence to increase capacity and invest back. Rs 1,000 crore will be spent within the next five years," Dealshare founder and CO-CEO Sourjyendu Medda said. DealShare's core e-commerce portfolio sources goods and products from more than 500 indigenous brands, accounting for nearly 70 per cent of its product offerings. The company supplies products to grocery stores in small towns and cities. When asked about the impact on a company's business with the mass

Online retail market to grow 2.5x faster than offline till 2030: Deloitte

The overall offline market, however, will continue to be the bigger market, with a total value of $1,605 billion in 2030

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