Page 5 - India Ecommerce Market

Incumbent FMCG brands continue to corner 65% market share in India

Dominance of general trade, low penetration of e-commerce helping large brands in India, says report

CCPA issues notice to e-com platform Amazon for sale of 'Ram Mandir' prasad

As many as four such products, claiming to be prasad from the Ayodhya Ram Mandir, are up for sale on the platform

ODOP achieves milestone, enlists 50 Aggregators to promote 'Brand India'

The 50th aggregator is Ayurvedic wellness company Forest Essentials, presenting beauty and wellness ODOP-identified value-added products to a global stage

Snapdeal's FY23 consolidated loss narrows to Rs 282 cr from Rs 510 cr

Snapdeal's has seen its consolidated loss after tax narrow to Rs 282.2 crore for FY23, from Rs 510 crore in previous year, according to a statutory filing. As per the company's RoC filing, the total income fell to Rs 388.1 crore in FY23, from Rs 563.5 crore in the previous fiscal (FY22). "The focus on profitability and long-term sustainability of the business yielded results with adjusted EBITDA loss reducing to Rs 144 crore in FY2022-23, from Rs 419 crore in FY2021-22," the filing said. The loss reduction measures also led to revenue decreasing to Rs 388 crore in FY2022-23 from Rs 564 crore in FY2021-22, it added. "In the past fiscal year, the company continued its well defined focus on the value segment, coupled with a steadfast commitment to staying on the path towards reaching profitability." the filing said. The company said it has implemented several enhancements to its operations. "These focused on improving selection and delivery experiences, optimising cost and minimisin

Flipkart Internet's operating revenue jumps 42% in FY23, loss declines 9%

Total expenses grew 26 per cent to Rs 19,043 crore in FY23

Credit card spending take 10% dip in Nov as festive season comes to end

Point of Sale (PoS) transactions increased to Rs 59,014.93 crore in November from Rs 57,774.35 crore in October

Parent company Walmart infuses nearly $600 mn in e-commerce giant Flipkart

The e-commerce firm company is in conversations with investors to raise a total of $1 billion to give it enough firepower to Flipkart to counter competition

Saree beat oversized clothes as 2023's most shopped clothing item: Flipkart

Wireless headphones topped the gadget list while saree beat oversized and unisex fashion wear to emerge as the most shopped clothing item in 2023, according to e-commerce marketplace Flipkart's FlipTrends 2023. The report -- which gives a view into India's online shopping landscape -- is based on over 500 million registered Flipkart users. "While oversized and unisex fashion wear were some of the most popular lifestyle searches this year, the timeless saree was the most shopped product in 2023 on Flipkart. Within the fashion category, women's clothing across ethnic, contemporary, and western wear remained at the top of shopping lists," read the report. On the gadgets front, besides bullet headphones, the e-marketplace witnessed almost 3.2 times growth in premium laptops and a 100 per cent surge in tablet demand in 2023, reflecting the desire to upgrade for many. Shoppers spent an average of seven hours on the homegrown e-commerce marketplace this year, it said. The report also saw

E-commerce firm Meesho says added 25,000 non-GST sellers in 2 months

Company says it is 'committed' to goal of goal of digitising 10 million sellers by 2027

ONDC have to address liability issue to build trust: Consumers Affairs secy

Consumer Affairs Secretary Rohit Kumar Singh on Monday asked the Open Network for Digital Commerce (ONDC) to resolve the issue relating to liability, which is important for consumers to get satisfactory services. He said that the government-promoted ONDC has to work on fixing liability in case a consumer does not get the right product. ONDC is an initiative of the Commerce and Industry Ministry to create a facilitative model to help small retailers take advantage of digital commerce. It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and interoperable open networks. "If I order through an app of a bank through Amazon and buy it from a seller located elsewhere and I get the wrong phone, then who is liable? So the issue of liability... "I keep telling (ONDC CEO) Mr T Koshy that you have to address the issue of liability otherwise this thing is not going to work," Singh said at the 'Deloitte Growth with Impact

Festive cheers! Ecommerce platforms, online brands sales shine on Diwali

More than 50% of the total festive sales have come through online platforms, against 45% in 2022

E-commerce order volumes up 37% this festival season: Unicommerce

In addition to the substantial growth in order volumes, the gross merchandise value (GMV) also saw an increase of 22 per cent during the same festive period

Snapdeal eyeing major share in value lifestyle growth in next 5-10 yrs: CEO

Snapdeal believes the e-commerce story over the next 5-10 years will be around the growth of the 'value' lifestyle segment, and the online marketplace is looking to corner a "decent slice of this opportunity" as it focuses on unit economics, quality checks, and use of AI as well as tech to measure and improve customer experience. Snapdeal's business metrics are "in a good space" in the value e-commerce category and it has opted to "reinvest in growth now" as financial parameters are within striking distance of profitability, Himanshu Chakrawarti, CEO of Snapdeal, told PTI. In an interview, Chakrawarti said that Snapdeal expects a "normal" festive season, which typically yields a 25-30 per cent surge in demand over other months. "As per estimates the value (lifestyle retail) market in India is growing significantly, from USD 88 billion to USD 175 billion. Also along with this, the e-commerce portion is going to increase from 8 per cent to 22 per cent...we are largely focused on our .

PhonePe scales up its shopping app to compete with large e-commerce firms

Pincode offers consumers the opportunity to browse and order directly from their favourite local shops and restaurants

E-com opportunity worth $13 bn for MSMEs during festive season: Shiprocket

With rising e-commerce activity, Shiprocket expects around 10 to 15 per cent of total order volume to come from first-time shoppers

Meesho Festive Season Sale starting today, offering up to 80 per cent off

Meesho begins its Mega Blockbuster sale today, October 6, 2023, and offers 80 per cent off on different products. The sale will conclude on October 13

E-commerce firms scale up tech efforts for upcoming festive season

Online retailers, startups are scaling up their tech and innovation efforts to handle demand from shoppers during festive season and make their shopping and payment experience seamless

Meesho opens up its platform for sellers without GST registration

With an eye on 15-20 million non-GST registered sellers, SoftBank-backed Meesho has opened up its platform to onboard them for selling products online, the company said on Tuesday. The GST Council in July exempted small businesses making intra-state supplies through e-commerce platforms from taking GST registration if their turnover is below Rs 40 lakh in case of goods and Rs 20 lakh in case of services. The rule kicked in from October 1. "The platform has made significant technological adaptations which will enable non-GST sellers to start selling on the platform from October 1, 2023. This move will potentially unlock 15-20 million sellers historically under-penetrated states for the company," Meesho said in a statement. The company claims to have 1.4 million sellers on its platform. Meesho said it recognizes the unique characteristics of non-GST registered sellers, such as their high motivation and locally relevant selection from categories like fashion, consumer electronics and

Road secy Anurag, ex-DPIIT official Anil join ONDC's advisory council

Road, Transport and Highways Secretary Anurag Jain and former additional secretary in the department for promotion of industry and internal trade (DPIIT) Anil Agarwal have become new members in the advisory council of ONDC, an official said. With this, the total members of the council will be 13. The council was set up in 2021 by the government to accelerate the adoption of the open network for digital commerce (ONDC), the official said. Other members of the council include Nandan Nilekani from Infosys; National Health Authority Chief Executive Officer R S Sharma; Chairperson, capacity building commission, Adil Zainulbhai; Avaana Capital Founder Anjali Bansal; Joint Secretary, DPIIT, Sanjiv; and Digital India Foundation Co-Founder Arvind Gupta. ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector. ONDC, a non-profit company, formulates a

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