E Commerce Firm

Swiggy Instamart expands to 75+ cities, unveils plans for standalone app

Swiggy Instamart will continue to be available on Swiggy's unified app

Zepto's second top-level exit in a month as VP Jitendra Bagga resigns

This development follows the resignation of Zepto's chief human resource officer, Martin Dinesh Gomez, earlier this month

India's tech funding grows 6%, number of deals falls 31.5% to 1,448 in 2024

Quick commerce platform Zepto led major funding rounds this year, raising a total of $1.35 billion

Zepto slightly cuts losses to Rs 1248.6 cr, revenue doubles in FY24

Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler. The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal. Zepto co-founder Aadit Palicha took to LinkedIn to share the results. "Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote. Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future. "Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that

Amazon to enter quick commerce race with 15-min delivery trial in Bengaluru

This initiative marks Amazon's first venture into offering a 15-minute delivery service globally; the initial rollout will include 1,000-2,000 products

Amazon affirms commitment to enabling $80 bn exports from India by 2030

E-commerce major Amazon on Tuesday pledged its commitment to enabling USD 80-billion in cumulative exports from India by 2030. The new vision marks an ambitious scale-up from the target so far of USD 20 billion by 2025. Amit Agarwal, SVP, Emerging Markets, Amazon, announced the commitment at the company's annual 'Smbhav Summit'. To achieve this goal, Amazon is collaborating closely with the government, lakhs of Indian small businesses, D2C brands, as well as other key stakeholders, he said. "Motivated by the progress that we made in driving exports out of India... we are going to advance our commitment to enable USD 80 billion in exports by 2030," Agarwal said. Since its launch in 2015, Amazon Global Selling has over 150,000 registered sellers from 200-plus cities across India who are set to surpass USD 20 billion in cumulative exports from India by 2024-end, according to a company blog. "This significant milestone will be driven by a combination of enabling exports through Amazo

E-comm firms must ensure transparency, trust: Pralhad Joshi at Amazon event

Minister for Consumer Affairs Pralhad Joshi on Tuesday asserted that e-commerce companies have a significant role to play in ensuring transparent, trustworthy, and safe shopping environment for all consumers. Speaking at Amazon smbhav Summit, Joshi outlined the government's all-out efforts to ensure that consumer rights are protected through slew of measures such as Consumer Protection Act, establishment of central consumer protection authority, consumer helplines, and specific rules to protect consumers from unfair trade practices in e-commerce sector. The future of e-commerce in India is bright, inclusive and transformative, the minister said emphasising the sheer size, and potential of India market. "While this digital revolution offers incredible opportunities, our government believes it is equally important for our consumers to feel confident and make informed choices, and for the e-commerce platforms to gain the trust and the confidence of the consumer is equally very, very, .

Rising competition putting pressure on stocks of Avenue Supermarts

While the earlier QCom players offered a price advantage to DMart, Flipkart Minutes and Amazon Tez are slightly below DMart on price, while pushing QCom convenience

Flush with funds, qcom firms Swiggy, Zepto, Blinkit focus on expansion

While announcing its September quarter results, management at Swiggy said its growth strategy for Instamart is based on hyperlocal expansion

Flipkart's 10-minute medicine delivery to shake up online pharmacy market

Flipkart to launch 10-minute medicine delivery under its 'Flipkart Minutes' service, partnering with local chemists to tap into quick commerce and expand its online pharmacy footprint

China's Singles' Day wraps up with ecomm firms reporting growth in shoppers

Expectations for sales growth for the festival, which is viewed as a gauge of consumer confidence, were subdued this year as confidence in the world's second-largest economy remains low in the wake

Quick commerce dark stores poised to boost India's real estate demand

Q-commerce majors rush to grab these mini warehouses to cut logistics costs and attain the last-mile delivery objective

Biden proposal would prohibit sale of its cars in US, says Polestar

Commerce told Reuters that General Motors and Ford Motor would need to stop importing vehicles to the US from China under the proposed rule

E-commerce GMV to increase 23% to $12 bn in 2024 festival season: Report

Growth led by digital penetration in India's Tier-II and Tier-III cities, according to Shiprocket

Export to be major job creators in transition to $5 trn economy: USISPF

US-India Strategic Partnership Forum President and CEO Mukesh Aghi on Monday emphasised that exports are going to be a major job creator for India as the country moves towards becoming a USD 5 trillion economy. Aghi, who was speaking at an event organised by the USISPF, also stressed that India and the US should continue to strengthen their economic engagements and increase the bilateral trade to USD 500 billion going forward. He said creating nearly 1.2 million jobs per month is going to be a challenge, highlighting the importance of job creation to ensure there is no social unrest among the youth. "As India's economy goes from 4 to 5 trillion dollars, one of the biggest job creators is going to be exports because we have a challenge and the challenge is how do we create 1.2 million jobs (in India) a month and unless we are able to meet that objective we will start seeing some kind of social unrest among the youth itself...," Aghi said. "So I think it is important to keep on drivi

To improve efficiency, Amazon develops new system for faster deliveries

The company announced Wednesday it has created spotlights within its trucks to guide delivery people to packages for each stop along a route

Only 2 of 11 e-commerce platforms have minimum wage policy: Report

Fairwork India survey noted insufficient evidence to show that workers earn at least a local living wage after expenses

Magicpin records 15-times order growth on ONDC network in 15 months

Hyperlocal e-commerce firm magicpin on Tuesday said it has crossed the 1.5 lakh-mark for daily order of food and logistics services on the government-backed ONDC platform, registering a 15-times growth over 15 months. magicpin joined the Open Network for Digital Commerce (ONDC) network in March last year with 22,000 restaurant partners, which the company has scaled to 70,000, the company said in a statement. The company saw 100 daily orders in early May 2023, which increased to 10,000 in four weeks, the company said. "In about 1.5 years, we have double-digit market share in major cities, with more than 10 per cent market share in key markets like Delhi or Bengaluru in terms of overall food delivery. We are thrilled with magicpin's success on ONDC, where we have reached 1.5 lakh daily orders for food delivery and logistics on the network," magicpin CEO and Co-Founder Anshoo Sharma said. He said 90 per cent of food orders from prominent buyer apps such as Paytm, Tata Neu, and Ola are

Meesho records 40% increase in total orders during annual festival sales

SoftBank-backed e-commerce firm Meesho on Monday said that it has recorded a 40 per cent growth year-on-year in total orders during the latest annual festival sales. The e-commerce firm claims to have recorded 145 crore customer visits during the 10 days long 'Meesho Mega Blockbuster Sale 2024'. "During our Mega Blockbuster Sale this year, we achieved over 40 per cent growth in orders, surpassing industry expectations. With around 3 crore app downloads and a 45 per cent increase in new-to-e-commerce users, we are reinforcing our commitment to making e-commerce accessible and affordable for millions across the country," Milan Partani, General Manager, User Growth at Meesho said. Meesho's flagship sale held from September 27 to October 6, 2024. "The company witnessed an impressive increase in demand this year, with total orders rising over 40 per cent compared to last year," the statement said. The company said that it observed around 45 per cent of the total customer visits from ti

App-first Gen Z scripting big shifts in consumption trends: Bernstein

The digitally-native, app-first Gen Z cohort is assuming the centre stage in India's consumer markets by scripting "big shifts" in consumption trends, including the rise of quick commerce delivery and direct-to-consumer brands, according to a report by Bernstein. Brands are seeking a deeper connection with this digitally-native, app-first generation that 'swipes up' for practically everything from social media to ride-hailing and food delivery. Indian Gen Zs' are the world's largest, the report said about the cohort born into a digital age, that shops, works and eats online. Gen Z is the generation born between 1996 and 2010. Indian Gen Zs make up 20 per cent of the world and about 27 per cent of India's population, it noted. Gen Zs have become the "Swipe Up" generation considering the amount of time they spend on social media. They swipe up for practically everything - social media, ride-hailing, and food delivery, according to Bernstein's report on 'India Internet'. Gen Zs are .