Top executives in sectors such as consumer goods and automobiles expect India's plans to cut personal income tax rates
Both appointments are part of Swiggy's continued focus on scaling its operations, enhancing service delivery, and supporting its growth in both food delivery and quick commerce
Commerce and Industry Minister Piyush Goyal had said in August that the government is not opposed to e-commerce but is focused on ensuring fair competition between online and offline businesses
The legal action marks a major move against the supermarket giants, which have faced scrutiny from lawmakers and regulators
Reliance Retail, the country's largest retailer, has increased the trading area for non-food and general merchandise by almost 50 per cent in its grocery stores in a bid to improve margins. The move is also likely to bolster the retailer's hyper-local aspirations through its e-commerce platform Jiomart, through which it is connecting its Smart and Smart Bazaar stores providing a wider variety to consumers, according to an industry insider. As part of that Reliance Retail is now going for space revision at its stores, allocating higher trading areas for non-food and general merchandise items, a segment which offers higher margins than other segments such as grocery and apparel. The extended retail space would not only allow Reliance Retail to offer a complete range of products for a segment but also fill in the gaps in its offerings, the source said. In the latest June quarter, Reliance Retail's EBITDA margin from operations was 8.2 per cent, which was up 30 basis points on a Y-o-Y
The Japanese retailer originated as a clothing store a century ago and evolved into a general merchandiser, selling everything from groceries and sundries, to clothing and home goods
Amitesh Jha previously worked with Flipkart for nearly 14 years before joining Swiggy's 10-minute delivery platform
Quick-commerce grocery delivery platform Zepto, currently based in Singapore, plans to relocate to India to prepare for its IPO filing
The Indian wedding industry size of approximately Rs 10 lakh crore (USD 130 billion) is second only to food and grocery, with an average Indian spending twice on marriage ceremony than education, a report said. India sees 80 lakh to 1 crore weddings annually compared to 70-80 lakh in China and 20-25 lakh in the US. "The Indian wedding industry is nearly double the size of the industry in the US (USD 70 billion), albeit smaller than China (USD 170 billion)," brokerage Jefferies said in a report. Weddings are the second largest consumption category in India. "Weddings, if they were a category, would rank as the second largest retail category only behind food and grocery (USD 681 billion)," it said. Weddings in India are elaborate and characterised by a range of ceremonies and spending. The industry spurs consumption in categories like jewellery and apparel and indirectly benefits autos and electronics. Despite political efforts to curb them, luxury weddings at exotic locations continu
Reliance Retail's new fast-delivery service is integrated into the JioMart mobile application under the 'hyperlocal delivery' option. The platform aims to bring delivery time down to 30 mins
D2C brands growth in quick commerce has overtaken traditional e-commerce, and the channel is currently proving to be more profitable as well
E-commerce major Flipkart on Monday announced the launch of its fourth grocery fulfilment centre in West Bengal. The fulfilment centre in Malda, around 340 km from Kolkata, is spread over 1.13 lakh square feet with a dispatch capacity of over 1 lakh units per day. It will cater to more than 7,000 orders per day across Berhampore, Malda, Siliguri and the north Bengal belt, and parts of Jharkhand and Bihar, including Bhagalpur, Deoghar, Munger, Purnea, Rampurhat and Saharsa. The company claimed that the centre will generate more than 700 direct and indirect local job opportunities, while providing nationwide market entry for thousands of local sellers, MSMEs, and small-scale farmers in the region. West Bengal Agriculture Minister Sobhandeb Chattopadhyay welcomed the decision of Flipkart to launch its fourth grocery fulfilment centre. "We are proud to welcome Flipkart's another grocery fulfilment centre in the state and foresee greater participation in the digital commerce space in t
Badri said that Flipkart is generating over 100,000 new job opportunities across its supply chain to provide services during the festive season
The San Francisco-based company and its selling shareholders are looking to raise up to $616 million by offering 22 million shares priced between $26 and $28 each, it said in a regulatory filing
Online grocery delivery firm Innovative Retail Concepts, which operates as BigBasket, has posted widening of loss to Rs 1,535 crore for 2022-23, according to details shared by Tofler. Tofler said the loss of BigBasket increased by 89 per cent, implying the company had posted a loss of around Rs 812 crore in 2021-22. The company's revenue increased by 5 per cent to Rs 7,462 crore. "The company further reported a net loss of INR 1,535 cr during the same fiscal. This is 89 per cent increase from the last financial year. The company's total expenses for the fiscal were reported as Rs 8,998 crore," the report said. BigBasket declined to comment on the report.
Fuel, jewellery and daily groceries are the top three preferred items for people to offload their Rs 2,000 currency notes post the RBI's announcement of withdrawing the currency note from circulation, revealed a new survey. The pan-India survey, conducted by location-based social network Public App, also found out that a whopping 55 per cent of people are planning to deposit their currency notes at the bank, while 23 per cent and 22 per cent are planning to spend them and get them exchanged, respectively. The Reserve Bank of India (RBI) on May 19 made a surprise announcement of the withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks. In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently. The poll results, shedding light on the citizens' perspective and providing ...
ONDC's majority of retail orders come from the food and beverage category, with a small amount coming from the grocery category
The goal of 100,000 daily orders is expected to occur over the upcoming few months as network participants (NPs) adopt a new set of network specifications
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
The quantity of FMCG goods purchased, or volumes, increased 2.1% in rural markets and 5.9% in cities YoY, the report said