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Chinese Smartphone Oppo & Vivo Cut 40% Retailers Margin in India

9Jan By NitishNo Comments

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Chinese Smartphone Oppo & Vivo Cut 40% Retailers Margin in India

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 each. Both had about 70,000 outlets each in the country before the margin cuts and the number of stores selling their phones may fall further, they said. Founded by Chinese billionaire Duan Yongping, Oppo and Vivo together have a 17% share of the market in India. As per the sources, the reason for this cut down is to make the companies profitable. One of the retail chain in Tamil Nadu, Sangeetha Mobiles has stopped selling Oppo ...

Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

15Jun By AnkitaNo Comments

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Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

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 categories like TV, laptops, mobile phones, ACs, refrigerators, DSLRs and footwear, among other items. "This sale has come at an opportune time for offline retailers who are looking to offload their entire inventory before the new tax rates become effective," Paytm said in an emailed response of Pixr8. Even online drug marketplace, 1mg has joined the bandwagon. "Due to GST, there may be shortage of medicines in July. Stock medicines@20 per cent off on 1mg.com to ...

TCS Launched Single Merchant Pay to Help Retailers

25Apr By PriyankaNo Comments

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TCS Launched Single Merchant Pay to Help Retailers

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 at a statement. "With numerous digital payment methods like UPI, eWallets, Aadhaar Pay, Debit and Credit cards available, there was a need for a unified platform that integrates all digital payment methods offering convenience to customers and also allowing merchants to accept any form of digital payment," TCS President Growth Markets Ravi Viswanathan said. "The Merchant Pay platform will effectively integrate with va...

NearU, an Online to Offline App Signs Up 6000 Retailers in 6 Months

11May By AdityaNo Comments

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NearU, an Online to Offline App Signs Up 6000 Retailers in 6 Months

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...

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

7Apr By Press Trust of IndiaNo Comments

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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...