Traders Body, Confederation of All India Traders ( CAIT ) has decided to approach fair trade regulator CCI against $16 billion Walmart-Flipkart deal claiming that the agreement would lead to massive job loss and will turn out a nightmare for retail trade in the country. It is interesting to note that US giant Walmart had […]
Future Retail Ltd has confirmed today that it has acquired Travel News Services (India) for a whopping Rs. 65.42 crore in cash to the latter’s shareholders for the entire stake. Post this acquisition of entire share capital, TNSI has become a wholly owned subsidiary as informed by Future Retail Ltd in a filing to BSE. […]
Mukesh Ambani’s Reliance Retail has become the first retailer in India to cross the $10 billion sales mark after doubling its revenue during the year that ended in March. The firm’s previous year’s revenue currently stands at ₹69,198 crore, which is the combined total of revenue from rival firms like Avenue Supermarket, Future Group, Tata […]
While almost every companies try to move their offline business online, BigBasket is trying the opposite approach. One month after $300 million funding round by Chinese multinational Alibaba, BigBasket is looking to cash in on the offline market by implementing kiosks that will stock fruits, vegetables and other daily grocery items. The offline kiosks will […]
Alibaba Group on Sunday revealed that it will be working towards expansion of its retail footprint and has announced that it invested RMB 5.45 billion (around $867 million) for 15% stake in Beijing Easyhome Furnishing, China’s second-largest home-improvement supplies and furniture chain and invested $486 million in Shiji Retail Information Technology, for 38% stakes. “The […]
Smartphone makers Oppo and Vivo have cut down retail margins by over 40% in India. Both Chinese smartphone companies cut the margin offered to large chains to 14-15% from 23-25%, the executives said. They reduced it to 5-6% for standalone stores from 15-16%. As per the report published in economic times, both Oppo and Vivo have lost about 10,000 sales outlets […]
AP, NEW YORK – With new options and conveniences, there’s never been a better time for shoppers. As for workers.. well, not always. The retail industry is being radically reshaped by technology, and nobody feels that disruption more starkly than 16 million American shelf stockers, salespeople, cashiers and others. The shifts are driven, like much in retail, by […]
The ecommerce market is grinding up for the forthcoming festivals. On one side where Flipkart and Amazon are battling on discounts, Paytm Mall, run by Paytm E-commerce is readying a war chest to expand its offline merchant network.
Online marketplace ShopClues, run by Clues Network Pvt Ltd has recently appointed former V-Mart Retail Ltd executive Deepak Sharma as its Chief Financial Officer(CFO).
Online retailers like Paytm are offering special discounts to consumers to ensure that their sellers stock is cleared before the GST tax regime sets in from next month. Paytm has a Pre-GST Sale going on, hosting over 6,000 retailers across more than 500 brands. Consumers can get discounts and cashback on a range of product […]
Tata Consultancy Services (TCS) has launched Merchant Pay to help retailers seamlessly integrate payments across multiple channels like Aadhaar, credit and debit card as well as phone-based payments through a single interface. Merchant Pay will allow consumers to transact by using fingerprint and confirming identity at stores that are enabled with this platform, TCS said […]
The government has received investment proposals from three companies, including Amazon and Grofers, worth USD 695 million for retail of food products in India under the new FDI policy. “Three companies Super Market Groceries Supplies (Big Basket), Grofers India and Amazon Corporate Holdings have submitted their proposals for seeking permission to make investment of USD […]