Do you have this feeling that 2018 went by a little too quickly? Well, however quick it seemed, it was certainly momentous for retail in India. If 2016 was marked by the shock of demonetization, and 2017 by the pains of GST implementation, 2018 highlighted two threads – the obvious convergence of the online and offline world that had been ignored for far too long, and the interest of foreign capital in India’s consumer world. Walmart bought India’s loss-making ecommerce leader for an eye-popping US$ 20.8 billion valuation, while ecommerce giant Amazon injecting equity into Shoppers Stop, bought Aditya Birla’s…
Ashwini Phadnis As a special tribute to the Father of the Nation on his 150th birth anniversary, Air India will paint images of Mahatma Gandhi on its aircraft. This is part of the two-year- long celebrations planned by the government; they will end on October 2, 2020. Source: thehindubusinessline
Written By Sagar Malviya & Writankar Mukherjee, ET Bureau MUMBAI | KOLKATA: Amazon India’s largest seller Cloudtail crossed the Rs 5,000 crore sales mark in the year to March but growth tapered off significantly, indicating its fading role as the company seeks to comply with foreign direct investment (FDI) rules on marketplaces. The government said last year that it will not permit a single vendor to account for more than 25% of sales on an online marketplace that has overseas investment. Cloudtail, a joint venture between Amazon Asia and Infosys founder Narayan Murthy’s personal investment vehicle Catamaran, posted over a…
The numbers were 27 percent higher compared to the sales last year with $24 billion of gross merchandise value (GMV) Written By SABAHAT CONTRACTOR Chinese e-commerce giant Alibaba sold a record $30.8 billion worth of products on its 24-hour Singles’ Day sale. The numbers were 27 percent higher as compared to the $24 billion of gross merchandise value (GMV) of sales last year. Even though China is facing major geopolitical and economic challenges, the story on Chinese middle-class consumption on November 12 was different altogether. Last month, India also had one of its biggest online shopping festivals, but reported a…
[Accompanying Image credit: Amazon Go; CC/Wikimedia Commons/Brianc333a)] To many, retail seems to be having an identity crisis. Closed storefronts on American and European streets and dead malls in India and China are blamed on the growth of online retail. At the same time, the world’s largest online retailer, Amazon, is opening physical stores and buying offline retail operations in the US and in India, while the world’s largest retailer, Walmart, is busy digesting India’s ecommerce market leader. Even India’s online fashion and lifestyle websites – among them Myntra, Firstcry, Yepme and Faballey – are acquiring offline brands or opening stores.…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
