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Amazon to Soon Allow Chinese Merchants Sell Goods in 185 countries, Regions

16May By Press Trust of IndiaNo Comments

CHINA

Amazon to Soon Allow Chinese Merchants Sell Goods in 185 countries, Regions

Chinese merchants will soon be able to sell their goods in 185 countries and regions through e-commerce giant Amazon's online marketplace, state media reported today. Amazon signed a deal with a cross-border e-commerce pilot zone in Hangzhou, east China's Zhejiang Province, to let traders use its site to sell to its 285-million active paying customers worldwide. Amazon's global logistic network will deliver goods from China to 185 countries and regions, state-run Xinhua news agency reported. Cross-border sales account for nearly one fourth of total revenue from third party merchants in Amazon's global marketplaces. The number of Chinese traders there doubled in first quarter from a year ago. Zhejiang province is looking to cross-border e-commerce to shore up trade, which shed 0...

Invested $300 Million in Supply Chain, Logistics in 18 Months: Snapdeal

13May By Press Trust of IndiaNo Comments

News

Invested $300 Million in Supply Chain, Logistics in 18 Months: Snapdeal

E-commerce major Snapdeal has pumped in $300 million (about Rs 1,990 crore) over the last 18 months to strengthen its supply chain and logistics and facilitate the increase in shipment volumes. The city-based firm has seen 1.9 times increase in shipment volumes from 1.29 lakh daily shipments last year to 2.5 lakh this year. "We have seen a significant increase of 1.9 times in shipment volumes. This is on account of increase in assortment on Snapdeal from 12 million to 35 million over the year. We have also expanded our seller base which helped increase shipments," Snapdeal Chief Customer Experience Officer Jayant Sood told PTI. He added that reports by PwC and RedSeer Consulting suggest that Snapdeal's promised delivery time is the shortest across India. "The number of sell...

AskmeBazaar announces the Launch of Automobile Category, Offers online booking of 2 Wheelers

11May By AnkitaNo Comments

Automobile, News

AskmeBazaar announces the Launch of Automobile Category, Offers online booking of 2 Wheelers

AskmeBazaar.com, India’s fastest growing online marketplace, today announced the launch of the automobile category on its portal. The company has ventured into two-wheelers (scooters and motorbikes) and will be offering 2-wheelers from 4 renowned brands namely Honda, Piaggio, Suzuki and Royal Enfield. The company is booking orders from Pune in the initial phase and will soon be launching online bookings for automobiles in other major metropolitan cities like Gurgaon, Delhi, Noida, Bangalore, Chennai, etc. The entire booking to delivery process has been automated to deliver convenience of online and includes processes like vehicle registration, finance, insurance, etc. The rates offered are most competitive in the market. Also, AskMe Cashbacks will be available for every booking, as a p...

Paytm Signed Up More Than 1000 Brands To Open an Online Store

9May By AdityaNo Comments

News

Paytm Signed Up More Than 1000 Brands To Open an Online Store

Vijay Shekhar Sharma led Paytm has signed up more than 1,000 brands like Samsung, Dell, Whirlpool, Woodland, Lakme, Casio and Puma, to open up exclusive online stores on its platform. The announcement comes a week after top ecommerce player Flipkart said it is wooing some of the most-popular electronic and apparel brands including HP, Wildcraft, Peter England, Bosch and @Home with a new offering that allows them to create 'stores' on its digital marketplace. The online brand stores are independent online retail stores wherein brands can control the sellers who are selling in their store, inventory, pricing and promotions. They will also be able to run promotional campaigns and tag their physical stores, enabling them to generate sales for their offline channel through this online sto...

Snapdeal Acquires Customer Personalisation Firm TargetingMantra

6May By AnkitaNo Comments

ACQUISITION

Snapdeal Acquires Customer Personalisation Firm TargetingMantra

Snapdeal today said it has acquired TargetingMantra, a move that will help the ecommerce major enhance personalisation of shopping experience of customers. The acquisition amount was not disclosed by Snapdeal. TargetingMantra specialises in the field management of customer life cycle through personalisation, targeting and big data analytics. Founded by former Amazon executive Saurabh Nangia and management consultant Rahul Singh in March 2013, TargetingMantra has offices in Palo Alto and Gurgaon. Its solutions help increase conversion rates through intuitive product discovery, recommendations and channel selection. "At Snapdeal, TargetingMantra's team will further the on-going initiative to build the customer experience engine, which will personalise shopping experiences for...

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

5May By reutersNo Comments

CHINA

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

Alibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter revenue rose 39 percent, beating Wall Street estimates, helped by growth in gross merchandise volume. The company's American Depository shares were up 3.5 percent at $78.48 on Thursday. Revenue rose to 24.2 billion yuan ($3.7 billion) in the quarter ended March 31 from 17.4 billion yuan a year earlier, beating the average analyst estimate of 23.22 billion yuan. "Whatever they are doing must be working, and most importantly it's a sign that the Chinese consumer may not be weakening quite yet," said Gil Luria of Wedbush Securities. Gross merchandise volume (GMV), or the total value of goods transacted on its platforms on China retail marketplaces, rose 24 percent to 742 billion yuan. "Alibaba represent...

3May By Sonia MotwaniNo Comments

Story

From Failing in College to Generating Revenue Worth 1 Cr, The Story of Pratik Luther

Pratik Luther was pursuing his MBA from Humber College Toronto, Canada when he failed his final semester project because his colleagues did not think he participated enough. As a result, he was forced to repeat a semester with the upcoming batch 3 months down the line. “I got 3 totally blank months with no work to do. It was the month of October and it was freezing in Toronto, so all I would do was watch TV series initially,” Says Pratik. He started to work as a part-time concierge in a building under construction. Pratik ended up having so much free time that he decided to learn web designing. And thus, an e-commerce company of merchandise was born! “Canada’s fast internet connection is one of the most important factors that contributes for the birth of my business. I started worki...

CouponDunia Eyes $20 mn Revenue in FY17, Launches Cashback

29Apr By Press Trust of IndiaNo Comments

News

CouponDunia Eyes $20 mn Revenue in FY17, Launches Cashback

Online couponing platform CouponDunia aims to grow revenue by fourfold to USD 20 million this fiscal as it launches new services such as cashback for customers. The company, which counts e-commerce firms like, Flipkart, Amazon, eBay and Jabong, among its clients, is also aiming to expand the total value of transactions through its platforms (GMV) to Rs 4,000 crore by the end of March 2017. "Our aim has always been to be the pre-shopping destination that consumers visit before making any transaction online. With cashback, we are a step closer to that goal," CouponDunia Chief Operating Officer Ankita Tandon told PTI. With cashback, customers will be able to make additional savings on their transactions over and above any other deals or discounts that the online store provide...

25Apr By No Comments

News

PepperTap Shuts Down Grocery Delivery

PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Sriram Sharma , 25 April 2016 Share on FacebookTweetShareShareEmailReddit PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Hyperlocal grocery delivery startup PepperTap announced on Saturday that it will be shutting down its operations, the latest casualty in a sector that saw exits of pilots programs from Ola and Flipkart this year. The company will be shifting its focus to e-commerce logistics, where it can lend its expertise of same day deliveries. "We are now changing our business model and will not be able to deliver groceries to you. In case you have any queries, feel free to call us at 186001216001 or email us at [email protected]," reads the farewell message posted on PepperTap's app. Navneet Singh, Co-F...

Phase of Exuberance in Ecommerce Sector Over: TV Mohandas Pai

21Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Phase of Exuberance in Ecommerce Sector Over: TV Mohandas Pai

From a period of exuberance, India’s e-commerce sector has entered a reality check phase with players focussing on cost cutting and business viability as investors seek performance, tech investor T V Mohandas Pai said today. Pai, ex-CFO of software major Infosys, said 2015 was a year of exuberance as a lot of money flowed into the sector but it is no longer the scene now. “Now, the funds have become very costlier. Now, they (investors) are demanding performance. Capital is also becoming scarce driven by interest rates in the US and potential meltdown in demand in China. Europe is not growing and Japan is not doing well and there is fear. “That’s why venture capital flows have come down. They (investors) have become very selective. People are now beginning to ask questions as to wh...

E-commerce Policy is Unlikely to Change The Discounting Model of Online Retailers- Source

7Apr By Press Trust of IndiaNo Comments

News

E-commerce Policy is Unlikely to Change The Discounting Model of Online Retailers- Source

The recently introduced e-commerce policy is unlikely to change the discounting model of online retailers in the near-term, says India Ratings and Research (Ind-Ra). According to the ratings agency, further clarity is essential for the successful regulation of the sector, implementation of the policy and achieving the desired objective to bring about a level playing field between offline and online retailers. Ind-Ra also said the traditional offline retailers are unlikely to benefit as the policy is directed towards defining and limiting the scope of operations of e-commerce business. The policy aims to define and ring fence the marketplace operation activity of e-commerce players (e-tailers) and to distinguish the scope of marketplace and inventory based model as the Foreign Dire...

ShopClues Tie-up With NMDFC To Support e-Karobar

7Apr By AnkitaNo Comments

BUSINESS

ShopClues Tie-up With NMDFC To Support e-Karobar

India's first and largest managed marketplace, ShopClues signed an MoU with National Minorities Development and Finance Corporation (NMDFC) to give a robust fillip to its e-Karobar initiative. The initiative seeks to e-market the exceptional products created by Indian artisans and craftsmen belonging to minorities who have been assisted by NMDFC. ShopClues will leverage the power of its widely popular e-commerce platform and its extensive reach to empower the artisans and craftsmen belonging to minorities by bridging the gap between artisans and buyers all over the country. As a part of the MoU, both ShopClues and NMDFC seek to act as catalysts for economic development of artisans and craftsmen belonging to minorities. ShopClues will offer a wide spectrum of assistances to sellers to...