Times of India — Taking on Flipkart Lite head-on, arch rival Snapdeal has announced Snap-lite. The Delhi-based e-commerce major has announced its own ‘lite version’, which its chief product officer Anand Chandrasekaran claimed will make browsing on Snapdeal 85% faster. In a tweet, Chandrasekaran wrote, “Is there a http://Snapdeal.com experience that’s 85% faster? Introducing Snap-lite (across all mobile browsers).”
Times of India — BENGALURU: E-commerce giant Amazon is taking lessons learnt from its daily battles with India’s choked roads and cramped cities to some of its largest developed markets, exporting a model of cheaper deliveries and reduced warehousing costs. Online shopping is booming in India, where millions of consumers are newly able to access the internet thanks to cheap smartphones. For Amazon, it is already the largest contributor of new customers outside the United States.
Times of India — MUMBAI: Flipkart India, the wholesale arm of India’s largest e-commerce company, posted three-fold increase in revenue in fiscal 2015, reflecting the rapid growth of the country’s online retail sector. Its revenue rose to Rs 9,351.7 crore in the year ended March, up from Rs 2,846 crore in the previous year, according to a recent filing with the Registrar of Companies.
Tech in Asia — A shopper in India can sign on to an ecommerce site and buy a product with the click of a button. How much does that click cost the store? According to Indian consulting firm Technopak, India’s ecommerce startups spend as much as 30 percent of their net income on logistics. In the US, Amazon is reported to spend 11.7 percent. On Alibaba’s marketplaces, the cost is entirely paid for by merchants and buyers.
Times of India — NEW DELHI: Flipkart, the country’s largest online retailer and marketplace, sold more than $200 million worth of mobile phones during the five-day Big Billion Days sale, with most consumers demanding 4G-backed devices, a top executive said. Flipkart sold 250 mobile phones every minute, of which 190 were 4G phones, during the five days, chief business officer Ankit Nagori said.
Times of India — NEW DELHI: With the onset of the festive season, it’s raining discounts and even gold bars for customers of Flipkart and Amazon as both e-tailers are trying to woo shoppers with best deals and grab market share. Both firms have invested heavily on bringing the best deals for customers across categories like apparel, electronics and household items as well as on logistics to ensure speedy delivery to ensure the customer experience doesn’t suffer, analysts said.
Times of India — When Tanuj Mendiratta hit the road in December to raise money for his mobile marketing firm Appiterate, he found not many venture capital funds were keen on investing in business-to-business startups such as his. He needn’t have worried. The company’s product, already being used by online marketplaces such as Snapdeal, drew a lot of interest from Indian internet companies looking to beef up their mobile applications.
Times of India — NEW DELHI: Punjabi singer Diljit Dosanjh or Assam’s latest pop sensation may soon be singing praises for Flipkart. India’s largest online retailer is gearing up to launch a large-scale campaign in 20 small cities, marking the beginning of a change in the company’s approach in targeting shoppers.
Times of India — NEW DELHI: India’s e-commerce companies including Flipkart, Snapdeal and Jabong need to gear up for stricter norms on data security, confidentiality of personal information and consumer protection as the country prepares to implement regulatory processes prevalent in a regional trade block. The government is looking at accepting the best practices of sectors as part of the negotiations on joining the RCEP even as it is yet to take a call on opening up the sector completely to foreign investors.
Times of India — BENGALURU: Homegrown e-commerce giant Flipkart today announced the launch of its fulfillment centre in Chennai, taking the total warehouse strength in the country to 15. Owing to an increased demand and with a consistent focus on customer delight, the company has invested in improving the supply chain in Chennai and surrounding areas, Flipkart said in a release.
Times of India — BENGALURU: Online retailer Flipkart is likely to exit the e-books business as it tries to sharpen focus on retailing physical goods, according to a senior executive in the industry. The company said in a statement that it is evaluating its e-books strategy and is working toward redefining its digital offerings to customers.
Times of India — NEW DELHI: India’s e-commerce industry is likely to clock a compounded annual growth rate (CAGR) of 35% and cross the$100-billion mark over the next five years, from $17 billion at present, according to an Assocham-Pricewaterhouse Coopers study. Riding on the strong growth momentum of 2015, the e-commerce sector is estimated to see a 72% jump in the average annual spend on online purchases per individual in 2016, from the current level of 65%, the study said.
Times of India — BENGALURU: No online retailer in India will be even half Flipkart’s size by March 2016, a senior executive said, firing back at Snapdeal which claimed that it is on track to dethrone the Bengaluru-based company as the market leader. Flipkart will sell goods worth $10 billion (Rs 65,000 crore) during fiscal 2016, and “nobody will be even half of that”, the company’s head of commerce Mukesh Bansal told ET. “There is not a shred of doubt based on all the market numbers we have today.”
DigiTimes — NEW DELHI: Flipkart has started moving its data centres in-house to build its own network of India’s largest server farms, that may be opened up in future for use by other online companies, potentially moving towards a model pioneered by rival Amazon in the global markets. Valued at about $15 billion, India’s largest online retailer has built data centres across various metro cities such as Chennai, Hyderabad and Bengaluru.
Flipkart, Facebook, Nokia’s maps division, Makemytrip.com and several other companies have corroborated complaints that the US internet giant abused its dominant market position, in their response to queries raised by the Competition Commission of India. Based on the responses from 30 businesses spanning search, social networks, e-commerce, travel and content sites, the CCI director general last week filed a report that accuses Google of abusing its dominant position to rig search outcomes, both the actual search result as well as sponsored links.
Times of India — BENGALURU: Flipkart is firming plans to phase out the commissions it charges merchants for selling on its online marketplace, hoping to enlist more of them, according to four people aware of the matter. It will instead urge sellers to advertise on its platform, for a fee. “The focus will be to push sellers to advertise on the platform and not compete on commissions,” a top Flipkart executive directly aware of the plan told ET. “The selling commission will become zero now,” a Flipkart executive in its seller management team said.
NEW DELHI: Japanese consumer goods manufacturer Sansui has decided to go online-only in a big way in India and will sell its air-conditioners and certain models of televisions and refrigerators exclusively through Flipkart. “Last month we saw a 25% decline in sales in offline stores and three-digit growth in sales through Flipkart. So we have decided to sell all air-conditioners and some models of refrigerators and televisions only online,” said Amitabh Tiwari, chief operating officer (COO) of Sansui.
Times of India — BENGALURU: Flipkart has closed a funding round of $700 million (Rs 4,500 crore) at a valuation of $15 billion, scooping up capital for the first time this year as the battle for dominance in the Indian online retail market heats up. Existing investors including Steadview Capital participated in the latest fundraise, said two people aware of the development.
Amazon beat Q2 earnings expectations Thursday afternoon, sending the stock sky-rocketing. Growth in Amazon Web Services, the company’s profitable cloud computing business, soaked up much of the spotlight on the company’s subsequent earnings call, but there was one other topic that investors and analysts kept bringing up: India.
Digital News Asia — INDIA’S online marketplace powerhouse Flipkart has started rolling out image search on its mobile app, using technology from Singapore’s ViSenze for visual search and image recognition. The image search feature allows users to upload photos of fashion items and find similar products in terms of colour, pattern or style, inside the Flipkart merchandise database.