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Chinas Tiens Group to Enter Indian E-commerce Market

22May By Press Trust of IndiaNo Comments

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Chinas Tiens Group to Enter Indian E-commerce Market

China Tiens Group plans to foray into the fast growing Indian e-commerce market to take on the likes of Flipkart and Amazon as the firm plans to set up its marketplace by the second half of the year. The group also plans to expand direct selling business in the country and expand user base to one crore over the next five years. "We plan to sell 3,000 products from the online shopping platform, which would be ready in the second half of the year. Indian customers will be able to buy products from different countries on the platform," Tiens South Asia Region President Kevin Hou told PTI. The Indian e-commerce market is estimated to touch USD 119 billion (Rs 8 lakh crore) by 2020. In March, the government allowed 100 per cent foreign direct investment (FDI) in online retail of goods an...

Funding Squeeze Causing Stricter Evaluation of E-commerce Models

A tightening funding environment has prompted Indian e-commerce ecosystem to adopt stricter evaluation norms for business models, with focus on profitability and consolidation, a report said. "We believe this (e-commerce) shake-up may intensify further, leading to the emergence of one or two strong companies within each sub-sector," said the research report by Kotak Institutional Equities. A lack of fresh funding as well as stricter focus on profitability by investors is leading to swift business model changes by companies, it said. Further, the current wave of consolidation among e-commerce players may intensify, leading to fewer, stronger players emerging within each category. "Low valuations may prompt brick-and-mortar companies to take over some e-commerce rivals, in a bid to mak...

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NearU App, an Online to Offline (O2O) App Signs up 6000 Retailers in 6 Months Including Marquee Brands, Empowering Them to Push Deals to Their Target Customers, Anytime, Anywhere. The Indian Retail Industry today comprises of 7.5% organized retail, 92% unorganized retail and a meager 0.50% of e-tail. This clearly reflects the scope of tapping the offline retail market space at various levels. Hence, a fleet of retail-centric hyper local, apps have lately entered the app marketplace, with their business model revolving around a huge chunk of participation from the retailers. Now the question arises that how many of them, in the real sense, provide a value proposition for the retailers. Along with the users, even the vendors nowadays are facing app fatigue, or rather, collaboration fat...