Page 2 - Online Retail

Amazon witnesses biggest ever festive sale in India, says top exec

More than 80 per cent of the new customers came from smaller towns for the e-commerce giant's month-long festive sale event Great India Festival which would end on October 23

India's e-retail market to increase to $150 bn-$170 bn by 2027: Report

India's e-retail market rose to approximately $40 billion in 2021 and is slated to reach $50 billion in 2022

Flipkart's social commerce arm Shopsy hits 100 mn users ahead of timeline

Top exec says about half of Shopsy's customers are new to e-commerce, market is large enough to onboard another 100 million users by next year on Shopsy

Online retail may hit Rs 4.9-trillion GMV this year: RedSeer report

In the India e-tailing GMV Index, there is a monthly growth comparison. In 2022, this was 60 per cent higher in April than April 2021

Tea producers reinvent business, adapt online blend for consumer connect

Data available on the Tea Board website showed that India's production in 2020-2021 had stood at 1,283.03 million kg and volumes at the auctions were around 547 mkg

Online retail spending in India to grow six-fold to $300 bn by 2030: Report

Online retail spending in India is expected to grow nearly sixfold to USD 300 billion by 2030 with expansion in the number of digitally-influenced shoppers and online shoppers, said BCG

Lenskart acquires majority stake in Japanese eyewear brand Owndays

This acquisition will take Lenskart's reach to 13 markets, including India, Singapore, Thailand, and Japan and make it one of the largest players in Asia's online eyewear segment

Traceability first step to address fake reviews, govt tells e-commerce cos

A meeting was held on Friday by Department of Consumers Affairs with Amazon, Flipkart, Reliance and Tata to address the issue, say sources

Marks & Spencer Reliance India appoints Ritesh Mishra as Managing Director

Retailer Marks & Spencer India on Wednesday said Ritesh Mishra has been appointed as Managing Director for Marks & Spencer Reliance India Pvt Ltd. Mishra, previously Head of Operations and Property, takes over from James Munson who will now assume the role of M&S International Retail Director in the UK, the company said in a statement. Munson had led the India business for the past five years, overseeing significant growth of M&S across India, including a 50 per cent increase in the number of stores, which currently stands at 91 stores in 34 cities across the country. Mishra will continue to steer M&S from the India support office in Gurgaon, Haryana, and report to Munson, it added. "In his new role, Ritesh will be responsible for leading and accelerating the growth and success of our India operations. With his strong leadership, M&S will continue to remain the consumer-focused retailer that we are, always keeping customers at the heart of everything we do," ...

Zepto raises $200 mn to expand its 10-minute grocery delivery across India

The firm, which was launched 9 months back by two 19-year-old Stanford dropouts, has raised $200 million Series D fundraise, valuing the quick commerce company at around $900 million

SoftBank-backed Meesho records over 100 mn transacting users

Internet commerce firm says customers from smaller Indian cities drive its growth and account for 80% shopping.

What are Dunzo CEO Kabeer Biswas's plans about funding and growth?

In a chat with Business Standard's Surajeet Das Gupta, quick commerce player Dunzo's CEO Kabeer Biswas tells about strategic partnership with Reliance Retail and long-term expansion plan. Listen in

Visa, Amazon reach global deal over payment fees

This agreement includes the acceptance of Visa at all Amazon stores and sites

Retail sales in Jan hurt by Covid curbs, at 91% of pre-pandemic level: RAI

South zone was the least impacted registering a 2 per cent decline, as compared to January 2019

Singapore-based Shopee takes India's e-commerce market by storm

Becomes second-most downloaded app on Google Play; overtakes Amazon, JioMart, Myntra in daily, monthly active users

In the works: National e-commerce policy to script arm's-length rulebook

To apply to all platforms engaged in buying and selling, including social media

Online retail rules when it comes to smartphone sales, says study

This reflects the rising consumer trust and digitalisation of purchase journeys fueling online retail contribution to overall category sales of smartphones, said a report from GfK market intelligence

Has 2021 been a watershed moment for India's e-commerce industry?

New forms of online distribution and business models like live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech and D2C roll-up have made their mark this year

How do dark stores help deliver groceries within 30 minutes?

Indian tech startups are racing towards quick-commerce that targets ambitious buyers in big cities. What is fuelling this need for speed among online grocery startups? Let us understand in this report

Gofers plans to open 150 more dark stores by December for quick commerce

E-commerce firm Grofers plans to open 150 dark stores by December, taking the total count to 350, for quick commerce to deliver orders in about 10 minutes, the company's co-founder said Wednesday. The company claims to have a 3 million monthly order run rate and growth of 3.5 times in the last two months while gaining one million quick commerce users. "At Grofers, we are all humbled by these stories every day, and it motivates us to do more for our country and communities. We have been able to roll out 200 stores in the last three months and are working hard with entrepreneurs like Hardik to roll out another 150 stores in the next 45 days," Grofers co-founder Albinder Dhindsa said in a blog. The company's spokesperson said that the average weekly retention in the segment is 50 per cent, which means half of the users come back next week itself to order again and consistently keep coming back. Grofers claims to have recorded a weekly ordering frequency of 4.5 orders for users who hav