According to a report published by RedSeer Consulting, the e-commerce industry witnessed a 64% year-on-year growth to reach $2.3 billion worth of sales (GMV) between the five festive days last year. Hindustan Times E-commerce websites provide heavy discounts to make the most of the festival momentum.(Reuters Photo) Jamshedpur-based Nilanjana Ghosh, 26, who is pursuing a fellowship, likes to buy her regular items whenever she is able to crack the cheapest deal. She generally keeps items such as electronics, books, household requirements, art and craft, interior decoration and costly cosmetics for festive seasons. Apart from these, Ghosh regularly purchases clothes during…
Written By Deepti Chaudhary Kalyan Krishnamurthy, CEO, Flipkart. The ambitious targets from the e-commerce platform come at a time when several consumption driven sectors are reporting a dip in sales. Bloomberg Walmart-owned online retailer Flipkart hopes to double sales during its flagship Big Billion Day (BBD) event, two people aware of its sales targets said. The company is also aiming a gross merchandise volume (GMV) of about ₹1 trillion (about $14 billion) this fiscal year, up at least 45% from a year ago, the people said on condition of anonymity. According to RedSeer Management Consulting, a research and advisory firm…
Neighbourhood kirana owners are sprucing up their stores and joining hands with big retailers to meet India’s insatiable appetite for shopping. And consumers are not complaining. Written By ARNIKA THAKUR AND ANSHUL DHAMIJA, It is a hot and humid Tuesday afternoon. One would assume there wouldn’t be too many people out shopping. But Delhi is different. Modern Bazaar in the basement of Select Citywalk, one of the city’s busiest malls, is abuzz with activity. The outlet, the grocery chain’s third store, was set up by Kunaal Kumar in 2011. Later he opened the spruced up version in the basement with…
Retail is such a pervasive and dynamic a sector of the economy, that it is impossible to identify a single point at which modernisation began. I’ve met countless people who perhaps entered the retail sector during the last 15 years, and who mark the beginnings of modern retail around then. There is no doubt that there has been an explosion of investment in retail chains in the last 2 decades, but we need to acknowledge the foundation on which this development is built. The current titans of the sector are standing on the shoulders of previous giants who have created…
Written By Alnoor Peermohamed, ET Bureau BENGALURU: Top scooter rental companies — Vogo, Bounce and Drivezy — are increasingly adopting the assetlight business model pioneered by ride-hailing companies Uber and Ola. These firms have tapped a handful of companies to own the thousands of scooters that run on their platforms, unlike ride hailing where individuals own the cabs. The obvious advantage — assets, scooters in this case, go off-book, even as they still get a reliable supply of vehicles, something that has been a huge problem for Uber and Ola. Source: economictimes
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
