E-commerce Firms

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, .

Meesho acts against 22 mn suspicious transactions, files 12 cases in a yr

SoftBank-backed e-commerce platform Meesho has acted against 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company's annual report released on Monday. Meesho's 'Trust Assurance Report' said that it's team has developed pioneering analytical models, sophisticated data science frameworks, and advanced computational logic, which has helped prevent 13 lakh bot orders and blocked 77 lakh scam attempts from accessing the company's platform. "In the last 12 months, Meesho has prevented over 2.2 crore fraudulent transactions. Additionally, Meesho undertook extensive steps to remove bad actors from the platform," the report said. The report said that as part of its effort against account takeover fraud, Meesho launched a proactive investigation that led to filing of 9 cases against over 40 suspects in Kolkata and Ranchi. "By working closely with authorities, Meesho achieved an impressive 98 per cent success rate in addressing ..

Fssai calls quick commerce firms for talks on food safety issues on Tuesday

This comes at a time when concerns have been raised about food safety standards violations by e-commerce and quick commerce platforms for packaged food products

Rs 11K crore IPO in sight, Swiggy projects quick commerce as the future

Will surpass food delivery biz in 5 yrs, says CEO; announces India's 6th biggest initial issue

Meesho generates positive operating cash flow of Rs 232 cr in FY24

Company says it is India's first horizontal e-commerce platform to have free cash flow as adjusted losses reduce by 97% to 53 cr

After 10-minute deliveries, quick commerce firms test flash return services

Just last week, Blinkit rolled out 10-minute returns and exchanges for clothing and footwear in select cities, while Swiggy Instamart and Zepto are reportedly exploring similar features to keep up

How GenAI helps e-commerce firms handle high festive season demand

E-commerce companies lean on the technology to serve customers and sellers in festival season shopping rush

E-commerce sales hit $6.5 billion in a week, up 26% during festive season

Sales for the week beginning Sept 26 accounted for roughly 55% of the expected total e-commerce sales for the festive season

Myntra Big Fashion Festival registers record 627 million user visits

The e-commerce firm onboarded over 1.5 million new customers, with over 80 per cent coming from non-metros

Flipkart sees multi-fold jump in customer purchases using credit facilities

E-commerce company Flipkart on Saturday said it saw a multi-fold jump in customers' purchases using credit facilities during the first two days of its annual festive season sale 'The Big Billion Days'. The Walmart group firm recorded 27 times jump in the third-party easy monthly instalment (EMI) usage during The Big Billion Days' compared to usual business days. "With 5 per cent cashback on every purchase using the Flipkart Axis Bank credit card, the co-branded card witnessed a spike of 20 times in overall spends and eight-fold transactions when compared to the non-sale days. Flipkart Pay Later EMI witnessed a 8.5 times spike in the daily transactions run rate compared to the pre-TBBD period," the company said. Flipkart said that it has recorded over 33 crore user visits, implying repeat visits of individuals several times on the platform, during the first two days of The Big Billion Days (TBBD), which started on September 26 for select users and on next day for everyone. The compa

E-commerce firms witness huge jump in festive sales from towns, cities

Flipkart recorded 330 mn user visits during Early Access and Day 1 combined, during The Big Billion Days (TBBD) 2024 sale event. Another e-commerce firm Meesho said it achieved 100 per cent increase

Can kirana stores survive the exponential rise of quick commerce in India?

Some savvy kiranas are already evolving - becoming specialist gourmet shops, mini-supermarkets, or setting up their own efficient delivery systems

Meesho's annual festival sale from Sep 27, sees 42% rise in seller base

Softbank-backed e-commerce firm Meesho will start its annual festival sale, Meesho Mega Blockbuster Sale, from September 27 onwards with the highest number of sellers onboard among its competitors, the company said on Tuesday. The company has recorded about 42 per cent surge in sellers on a year-on-year basis to 20 lakh for the upcoming festival season. "Meesho's Annual 'Meesho Mega Blockbuster Sale' Starts on 27th September. With over 20 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to make festive shopping more accessible, affordable, and convenient for shoppers across the country," the company said in a statement. Meesho claimed to have 14 lakh sellers onboard for Meesho Mega Blockbuster 2023. Amazon India has seen a 14 per cent growth in seller base but remains lower than that of Meesho for their upcoming annual festival sale "The Great Indian Festival". "Our current seller base exceeds 16 lakh sellers from all across the country," Amazon India,

Meesho hires 850k staff before festivals, mostly from tier-3, tier 4 cities

E-commerce platform Meesho on Thursday said it has hired 8.5 lakh seasonal staff within its seller and logistics network ahead of the festival season, mostly from tier-3 and tier-4 regions. This marks a 70 per cent increase from its seasonal hiring last year, according to a company statement. "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers and logistics providers to scale their business is resulting in meaningful economic opportunities that is driving financial inclusion in these regions," said Sourabh Pandey, CXO, Fulfilment and Experience, Meesho. Meesho's sellers have hired 5 lakh seasonal workers as part of their requirements for the festive season, the statement said. Additionally, Meesho has hired about 3.5 lakh gig workers through its third-party logistics providers including Delhivery, Ecom Express, Shadowfax, and Xpressbees, along with its own logistic ..

Govt-backed ONDC receives award for 'application of emerging tech'

The government-backed Open Network for Digital Commerce (ONDC) on Tuesday received the gold award for application of emerging technologies. ONDC is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT). It aims to promote an open platform for all aspects of e-commerce retail and help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector. The network is now enabling more than 12 million orders per month, spread across categories ranging from fashion to electronics in products, and ride-hailing to metro ticketing in services. Over 6 lakh sellers across India have been on-boarded so far. The gold award, under the category 'Application of Emerging Technologies for Providing Citizen-Centric Services' in the National Awards for e-Governance (NAeG), was received by Sanjiv, Joint Secretary in the DPIIT and other officials from the department in Mumbai. The national awards for e-governance by the Departm

'Smells of predatory pricing': Piyush Goyal red-flags e-commerce boom

Questions Amazon's India investment strategy, says it is to make up for losses

Temu owner's billionaire founder Colin Huang becomes China's richest person

Huang has mainly stayed out of the limelight after he stepped down as PDD's chief executive in 2020

Flipkart's 10-min quick commerce service 'Minutes' goes live in Bengaluru

The service has been launched across areas such as HSR Layout, Gunjur, Bellandur, and Kadubeesanahalli

Cheap Chinese exports prompt 'protectionist' response from Southeast Asia

Economic discontent towards China has intensified in Southeast Asia as Chinese companies with surplus inventory are selling goods at give-away prices

Top line can grow to Rs 2.5 trn in 5-10 yrs if executed well: Zepto CEO

Quick commerce unicorn Zepto revenue can grow multifold to Rs 2.5 lakh crore in 5-10 years if the company is able to execute the business well, a top company official said on Saturday. Speaking at 7th JIIF Foundation day, Zepto Co-Founder and CEO Aadit Palicha said grocery and household essentials are the mother of all categories that are sold on leading e-commerce platforms Flipkart and Amazon in India. He said the grocery and household essentials market was around USD 650 billion in India in FY23 and is growing at 9 per cent CAGR (compound annual growth rate) and is expected to get to about USD 850 billion by FY29. "If we execute well, we can realistically take this business from Rs 10,000-plus crores in top line today to potentially to... Rs 2.5 lakh crore of top line over the next 10 years or next five years," Palicha said. "Your grocery is bigger than all the other categories that Amazon and Flipkart serve combined. If you look at electronics, apparel, furniture, you combine .