Page 5 - Online Shopping

Myntra obtains India franchise rights for UK's fashion brand NEXT

E-commerce platform Myntra on Friday said it has bagged franchise rights for UK's fashion brand NEXT for the country. Myntra has signed a franchise agreement with UK's fashion brand NEXT to this effect. The association allows Myntra Jabong Pvt. Ltd, Myntra's B2B wholesale entity, the right to distribute NEXT's range of products, while holistically scaling NEXT's omni-channel presence in India, a company statement said. "As a part of this franchise agreement, Myntra's business-to-business (B2B) entity will set up NEXT branded stores in India," it said. It added that the association enables NEXT to tap into the vast, diverse and ever-evolving Indian market by allowing Myntra Jabong Pvt Ltd to distribute its products on a wholesale basis. "With a successful trajectory of growing NEXT online in India, our first year of working together has resulted in establishing the right product, audience and price fit in the country. "With a strong playbook in exponentially building adoption for

'53% consumers did not receive refund for inherently defective products'

At least 74% consumers had reached out for action on defective products, of which, only 21% got a product replacement or refund

Meesho initiates largest ESOP buyback programme totalling Rs 200 cr

Eligible current and ex-employees across the spectrum, from junior-level executives to senior leadership can voluntarily participate in this program, the company said in a statement

Flipkart unveils its UPI handle to boost India's digital evolution

The service would be available to all users including Flipkart's over 500 million customers

Urban Indians ready to pay premium price for quick delivery: PwC report

The lack of discounts and special offers in physical stores, along with large crowds in malls during weekends are some of the reasons why urban dwellers prefer to shop online

Shadowfax raises $100 million from TPG NewQuest, Flipkart and others

It would use the funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pincodes across India

Myntra names Venu Nair as chief of strategic partnerships and omnichannel

Nair joins Myntra's senior leadership team where he will be responsible for strengthening the online fashion retailer's existing international brands portfolio

About 45% of demand for global brands come from non-metros: Myntra's CPTO

AI and personalised shopping drive Myntra's expansion into new regions

Look forward to seeing our leaders steer us to new heights: Flipkart CEO

Krishnamurthy said that Flipkart's growth in the past decade would have been impossible without their contribution

Jeff Bezos unloads another $2 billion of Amazon stock in latest sale

The move to Florida has now likely saved Bezos about $430 million in taxes. Washington state recently implemented a 7% levy on capital gains, while Florida has no such tax

Simpl launches merchant biz offering to reduce CoD settlement time

The company said the product aims to reduce the settlement time for cash-on-delivery (CoD) orders by up to 90 per cent and improve daily sales by 40 per cent

Temple fever grips Indians, lifts travel demand and hotel bookings

Spiritual merchandise sales on e-commerce platforms surge ahead of Ram Mandir inauguration

Indians spent 12.84 bn hours on shopping apps in 2023, next only to China

The time spent by shoppers on these apps in 2023 was far higher than in the US (2.8 billion hours), Brazil (3.020 billion hours), but it was less than that in China where it was 49.60 billion hours

Flipkart forms strategic partnership with digit asset company Fireblocks

'India is fast emerging as the global hub for innovation in Web3,' said Ravi Krishnan, Head of Flipkart Labs

Zillion announces launch of rewards-as-a-service platform for brands

The company said it is aiming to onboard banks and large enterprises with an extensive distribution network with the launch of the RaaS portal

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

Myntra surpasses 75 mn new app users, achieves record customer growth

The Gen Z fashion segment on the platform has recorded 2.25X surge in demand and 175% YoY growth in customers

India's e-retail market estimated to reach over $160 bn by 2028: Report

The market has experienced strong growth post-pandemic, with an estimated value of $57-$60 billion in 2023, according to the report

1 mn new customers likely to shop from 2,300,000 styles at Myntra EORS sale

Several brands are expected to witness high traction. Some of them include Jack & Jones, Lakme, Rare Rabbit, Boat, Wildcraft, OnePlus, Mango, Forever 21, and Roadster, among others

Only 7% of Indian consumers buy fruits, vegetables online: Survey

"Quality of fruits and vegetables delivered via online platforms was always average and the return/refund process mostly painful, according to consumers," said Sachin Taparia, Founder of LocalCircles