Online Marketplace

Safex-backed AgCare Technologies starts online marketplace for agri inputs

Safex Chemicals-backed AgCare Technologies has started an online marketplace 'Golden Farms' to digitise agricultural input supply chain in India. In January 2023, Safex Chemicals invested Rs 100 crore in AgCare Technologies. "Delivering to over 16,000 PIN codes, the mobile app allows customers to procure inputs required in agriculture directly from manufacturers, ensuring better pricing and higher product quality," Safex said in a statement. The platform is set to make the procurement process more streamlined, transparent, and accessible to customers across rural India. Currently, the app offers 22 agrochemical products, with herbicides making up 35 per cent and insecticides accounting for 45 per cent of the portfolio. The platform has already onboarded over 16,000 dealers spread across the country. This extensive dealer network ensures widespread availability of agriculture related products, enabling the company to serve a large customer base. Safex Chemicals Founder-Director S

'Amazon Biz customer base up at annual 111% rate in 6 yrs, 65% via phones'

Customer base of Amazon Business has expanded at a compounded annual growth rate of 111 per cent in the country in the last six years, a top company official said on Tuesday. Director of Amazon Business Mitranjan Bhaduri told reporters here that 65 per cent of overall orders on Amazon Business are now received through mobile phones. The customer base of the platform (Amazon Business) across India has increased at a CAGR of 111 per cent in the last six years, Bhaduri said. Amazon Business, the B2B online wholesale market started in 2017, is completing seven years in India, he said.. Bhaduri said that Amazon Business has witnessed significant growth outside metro areas, particularly in Bhopal, where it has seen a 2.4-times year-over-year (YoY) increase in new customers. He said that a study reveals strong consumer enthusiasm for online festive shopping. In the study, 89 per cent of respondents expressed their excitement for the upcoming festivities with 71 per cent indicating that

Swiggy rolls out 'incognito mode' to help users order food discreetly

Available on both Swiggy Food and Instamart, incognito mode ensures that users can place orders and keep their selections confidential

Vista Auto Care: Leading the Charge in Automotive Care

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ONDC likely to start levying small user charges on each transaction

The charges may have to be paid by either the seller, or the buyer, or both

BHIM to challenge Google Pay, PhonePe e-commerce dominance through ONDC

BHIM will expand its presence in e-commerce by offering a diverse range of products and services, including food and beverages, groceries, fashion, and apparel to its user base

Walmart announces dedicated page for Indian sellers on its website

Multinational retailer Walmart announced the launch of a dedicated page for Indian sellers to register and sell on the company's marketplace site. The company hosted a global seller meet in Jaipur on Tuesday, kicking off a series of regional events to help prospective sellers with insights and knowledge on consumer and category trends and assist with onboarding support and catalogue setup, a release said. "India is a priority market for Walmart, and the dedicated landing page builds upon our commitment to Indian sellers. Walmart Marketplace strives to unlock the potential of Indian businesses by giving sellers access to customers around the world," Michelle Mi, Vice President of Emerging Markets and Business Development for Walmart stated in the release. "Through dedicated onboarding support and expertise in navigating global supply chains, we are empowering sellers with the tools they need to thrive in the US marketplace and beyond," the release added.

South Korea regulator likely to sanction Meta over online marketplace

The Korea Fair Trade Commission (FTC) had investigated possible violations of the country's e-commerce law and had sent an examination report to Meta late last year, reports say

IndiaMART working with Novo Nordisk to halt illegal Wegovy sales: Report

IndiaMART, one of India's top online marketplaces, allows dealers to sell on its website after a nominal background check and says it has minimal control over what is advertised and sold

How well can govt's dark pattern rules curb customer manipulation online?

You looked for tickets on a travel website and it showed a particular price. But, within minutes, the price increased

NCLAT chairman calls for developing mechanism to regulate digital markets

Effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent to deal with complex challenges, NCLAT Chairperson Ashok Bhushan said on Thursday. Emphasising the importance of having free and fair competition in the market place, he also said there is a need for robust mechanism to regulate digital markets. He was delivering the keynote address at the eighth BRICS International Competition Conference 2023 in the national capital. Strong anti-trust enforcement is an essential element of the overall public policy design governing the companies, he said. Further, he noted that an effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent in order to deal with complex challenges. More than 600 delegates are expected to participate in the conference that concludes on Friday. Last time, this conference happened in India in 2013. Accor

IndiaMART net profit flat at Rs 56 cr in Q4; revenue rises 33% to Rs 269 cr

Online B2B marketplace and discovery platform IndiaMART InterMESH on Friday reported Rs 56 crore consolidated net profit for the March 2023 quarter. The company had posted a net profit of Rs 57 crore in the corresponding quarter a year ago, IndiaMART said in a statement. Its consolidated revenue from operations, however, grew 33 per cent to Rs 269 crore against Rs 201 crore in the year-ago quarter. The consolidated cash flow from operations stood at Rs 209 crore during the quarter under review, the company said. IndiaMART collected a total of Rs 418 crore from its customers during the fourth quarter of FY23, 31 per cent higher than Rs 318 crore mopped up in the same quarter of FY22. During the entire 2022-23, the company's net profit fell 5 per cent to Rs 284 crore compared to Rs 298 crore recorded in the preceding fiscal. However, the consolidated revenue from operations increased 31 per cent by Rs 985 crore in FY23 from Rs 753 crore in FY22. The cash flow generation rose 18 per

TCS secures contract to develop UK's rail data marketplace

The digital marketplace will bring together fragmented sources of rail data into one digital service, to accelerate innovation in the transport sector and enhance the passenger experience

E-marketplaces projected to see enterprise value zoom over 3 times

The report projects that the enterprise value of the companies would go up from $150-200 billion currently to $500 billion by 2027

Covid surge in Beijing triggers panic buying, lockdown-like restrictions

The case increase, which has escalated from under 100 infections a day a fortnight ago, is leading to stepped-up controls in Beijing, a city of 22 million

E-commerce fake reviews: Centre to issue standard guidelines next week

According to sources, the e-commerce companies will also be asked to remove unverified buyers and reviewers, and on failing to do so, action will be taken against them

'What if I'm next?' Fear grips Amazon India employees amid global layoffs

Those in the know say the full force of the impact of global layoffs in India will be felt in the retail division

Flipkart key driver of 13% spike in Walmart's international revenue

Walmart management says early timing of Big Billion Sale, from Q4 last year to Q3 this year, benefited the company

Amazon plans to make changes to Alexa and unprofitable businesses

Cost-cutting measures: Tells workers at unprofitable arms to look for jobs elsewhere

Network connectivity remains big challenge as e-commerce, FMCG go digital

Experts say AR/VR tech has yet to mature; also, immersive experiences with 360° video applications require a lot of data