Category: Retail

Blinkit offers free dhaniya with vegetables after viral post; details here

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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For several households in India, buying vegetables from markets isn’t complete without the complimentary ‘Dhaniya’ (coriander leaves). However, this tradition was somehow missing while ordering vegetables from online delivery platforms.

Recently, a user on social media site X, formerly known as Twitter, highlighted this issue noting that his mother was surprised to find that she had to pay for ‘Dhaniya’ while ordering vegetables from Blinkit.

While tagging Blinkit CEO Albinder Dhindsa, the person said that his mother has suggested that ‘Dhaniya’ should be given for free with a certain amount of vegetable purchase.

“Mom got a mini heart attack because she had to pay for dhaniya on Blinkit. @albinder – Mom is suggesting that you should bundle it for free with a certain amount of veggies,” the X user Ankit Sawant wrote.

Shortly after the post went viral, Dhindsa responded with, ‘Will do’, highlighting the company’s commitment to addressing user concerns.

Mom got a mini heart attack because she had to pay for dhaniya on Blinkit.@albinder – mom is suggesting that you should bundle it for free with certain amount of veggies.

— Ankit Sawant (@SatanAtWink) May 15, 2024

Subsequently, in a follow-up post after a few hours, Dhindsa announced the ‘free dhaniya’ feature, while thanking the X user’s mother for the same. He further stated that the company would polish this feature soon.

“It’s live! Everyone, please thank Ankit’s mom. We will polish the feature in the next couple of weeks,” Dhindsa wrote while sharing a screenshot of it.

It’s live! Everyone please thank Ankit’s mom 💛

We will polish the feature in next couple of weeks. https://t.co/jYm2hGm67a pic.twitter.com/5uiyCmSER6

— Albinder Dhindsa (@albinder) May 15, 2024

Dhindsa’s reply has gained significant attraction on social media, garnering over 7,50,000 views and over 10,000 likes.

In the comment section, several X users hailed the initiative.

“This dhaniya update is worth a billion dollars in market cap. 5% higher closing tomorrow,” one user wrote, while another one commented, “Don’t know about the profit loss business mindset. But this is really a good gesture, at least now boys don’t have to try hard to convince their mother to buy vegetables online.”

“Great you are listening to your customers so promptly,” a third person wrote and also requested the company to introduce “jute/cloth bags for carrying against refundable fees.”

“I won’t mind paying a small fee to get my blinkit orders always in reusable bags. I feel we are generating a lot of paper waste otherwise and with e-commerce the frequency becomes an issue,” the person wrote.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Mother’s Day celebrations boost quick commerce sales across India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Consumer purchases across quick commerce platforms witness an uptick led by Mother’s Day celebrations across India.

Recent data from quick commerce platforms like Zomato, Swiggy Instamart, Blinkit, and Zepto reveal trends in consumer behaviour, highlighting an increased demand for a variety of products on Sunday, May 12. Analysis from both platforms shows that items like jewellery, plants, flowers, and chocolates are experiencing peak orders.

Zomato reports that for the first time, Mother’s Day is witnessing significantly higher sales volumes than New Year’s Eve. Over 2 lakh people have used Zomato’s new AI feature, which allows customers to add a personalised celebrity video message to their orders, since its launch.

As per Swiggy Instamart’s data, 143 chocolates and 41 cards are being sold per minute today. The platform witnessed a 141% surge in orders for handbags, perfumes, and watches marking a new record for single-day orders. Not just that, orders for jewellery have also gone up 11.4 times from last week.

Sales of plants as gifts have soared 7.7 times as compared to a regular Sunday.

Additionally, Zomato-owned quick commerce platform Blinkit shared that handbag sales have seen an uptick compared to usual days. The company has also sent free fridge magnets specially designed for Mother’s Day.

“The company has never sold so many smartwatches by 11 am,” said Albinder Dhindsa, CEO of Blinkit. Bouquet sales have also been up as compared to Valentine’s Day.

Jewellery and perfume sales have zoomed in as well. Zepto has also launched Mother’s Day special greetings and customers seem to enjoy it.

These trends suggest a pattern where consumers turn to quick delivery services to purchase thoughtful, last-minute gifts. These insights are crucial for these platforms in tailoring their inventory and marketing strategies, ensuring product availability during high-demand periods.

Also Read: Mother’s Day 2024: Handwritten letter to personalised jewellery, gifts to express gratitude

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Draft Digital Competition Bill 2024 — will this empower FMCG companies in India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Draft Digital Competition Bill, 2024, stands as a beacon of hope for Fast-Moving Consumer Goods (FMCG) companies in India, heralding a new era of fairness and competition in the digital marketplace. With its aim to regulate digital markets, combat anti-competitive practices, and ensure a level playing field, this legislation holds particular significance for FMCG companies navigating the complexities of the digital landscape.

Proposed by the Parliamentary Standing Committee on Finance, the Draft Digital Competition Bill, 2024 (“Bill”), emerged in response to mounting concerns regarding the dominance of large tech firms and their potential to engage in anti-competitive behaviour. India’s digital markets, while experiencing rapid growth, have faced challenges including unfair trade practices and violations of consumer rights, prompting the need for regulatory intervention.

Key Provisions of the Bill

Definition and Assessment of Digital Markets: The Bill provides a clear framework for defining digital markets and assessing market dominance. Factors such as market share, network effects, access to data, and barriers to entry are considered in determining the competitive landscape within digital sectors.

Regulation of Systemically Significant Digital Enterprises (SSDEs): The Bill targets large digital companies with a significant presence in India, known as Systemically Significant Digital Enterprises (“SSDEs”). These entities are subject to heightened regulatory scrutiny to prevent anti-competitive practices and ensure fair competition.

Prohibition of Anti-Competitive Behaviour: Anti-competitive practices such as predatory pricing, exclusive contracts, and collusion are explicitly prohibited by the Bill. It aims to prevent dominant firms from abusing their market power to stifle competition, distort market outcomes, or harm consumer interests.

Data Governance and Privacy Protections: Recognising the importance of data in the digital economy, the Bill includes provisions for data governance and privacy protections. It mandates transparency in data collection practices, user consent mechanisms, and secure handling of personal information to safeguard consumer privacy rights.

Ex-Ante Regulation: The Bill adopts an ex-ante regulatory approach, meaning that rules and regulations are established before any anti-competitive behaviour occurs. By identifying SSDEs and setting predetermined conduct rules, the Bill aims to proactively promote fair competition and prevent market distortions. 

Enforcement Mechanisms: The Bill proposed that the Competition Commission of India shall be empowered to enforce the provisions of the Bill, investigate complaints, and impose sanctions on entities found to be in violation of the regulations, meaning that the Competition Commission of India shall have the same powers as are vested in a Civil Court under the Code of Civil Procedure, 1908 while trying a suit. Judicial review mechanisms ensure procedural fairness and accountability in enforcement actions.

Interoperability and Data Portability: To promote competition and consumer choice, the Bill encourages interoperability among digital platforms and facilitates data portability. This enables users to switch between platforms seamlessly while retaining their data, reducing barriers to entry for new market players.

Remedies and Sanctions: In cases of non-compliance or anti-competitive behaviour, the Bill outlines a range of remedies and sanctions, including fines, divestitures, or injunctions. These measures are aimed at deterring misconduct and restoring competition within affected markets.

Consumer Protection Measures: The Bill incorporates provisions to protect consumers from deceptive practices, unfair terms and conditions, and unauthorised use of their personal data. Regulatory authorities are empowered to investigate consumer complaints and take enforcement actions to safeguard consumer rights in the digital sphere.

Impact on FMCG Companies

FMCG companies in India increasingly rely on digital platforms for marketing, sales, and distribution. The Bill’s provisions offer assurance to these companies by preventing dominant tech firms from leveraging their position to stifle competition. By fostering a level playing field, the legislation aims to create opportunities for FMCG companies to thrive in an environment characterised by fair practices, transparent rules, and healthy competition, ultimately encouraging innovation and growth.

While the Bill presents promising prospects for FMCG companies, its successful implementation hinges on close monitoring and collaboration among regulators, industry players, and legal experts. FMCG companies are urged to stay abreast of developments surrounding the Bill and actively engage in shaping its provisions through public feedback, ensuring that their voices are heard and their interests safeguarded.

As India’s digital economy continues to evolve, the Bill emerges as a beacon of hope for FMCG companies seeking to navigate the digital landscape with fairness and confidence. By promoting competition, preventing anti-competitive practices, and fostering a conducive environment for innovation, the Bill paves the way for a vibrant and equitable digital marketplace, where FMCG companies can thrive and contribute to India’s economic growth and prosperity.

—The author, Juhi Khanna, is Senior Associate in the Corporate & Commercial Practice area at Gravitas Legal. The views expressed are personal. 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

European Union hits fast-fashion giant Shein with new digital rules

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Fast-fashion firm Shein has been drawn under the scope of flagship European Union rules designed to clamp down on illegal and harmful content online.

Shein, which was founded in China but is now headquartered in Singapore, has an average of more than 45 million monthly users in the EU, so meets the threshold to be targeted by the EU’s Digital Services Act, the European Commission said on Friday.

“Shein will have to comply with the most stringent rules under the DSA within four months of its notification,” the commission said. This includes “the obligation to adopt specific measures to empower and protect users online, including minors, and duly assess and mitigate any systemic risks stemming from their services.”

The move means Shein could be liable for fines of as much as 6% of global revenue for violating the law, designed to curtail the spread of illegal content online.

Platforms already drawn under the DSA include Alphabet Inc.’s YouTube, Meta Platforms Inc.’s Facebook, and Elon Musk’s X. Other marketplaces like Alibaba Group Holding Ltd.’s AliExpress and Amazon.com Inc.’s platform have also been designated, having met the criteria of having at least 45 million monthly active users in the bloc.

Leonard Lin, Shein’s global head of public affairs, said the company shares “the commission’s ambition to ensure consumers in the EU can shop online with peace of mind, and we are committed to playing our part.”

The DSA also requires online marketplaces to trace the sellers on their platform, add methods for customers to flag illegal content and randomly test for illegal products.

The EU’s move is the latest attempt from regulators to clamp down on companies with links to China. Under the same rules earlier this week, ByteDance Ltd.’s TikTok was forced to halt a controversial rewards programme on its Lite app before EU watchdogs carried out their threat to temporarily ban the feature over fears it could be addictive for children.

As part of a separate legal instrument — the Foreign Subsidies Regulation — EU competition watchdogs raided the premises of Chinese security firm, Nuctech, under suspicions that it may have received subsidies that could distort competition on the EU’s prized single market.

Other recent EU probes under the FSR have similarly targeted Chinese firms, involved in clean energy and rail. The deluge of investigations is a reflection of the EU’s increasingly assertive approach to China, threatening restrictive trade measures that could result in tariffs, cutting China off from European markets, and potentially leading to a trade war.

Also Read: Spotify says Apple has rejected its app update with price information for EU users

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Swiggy integrates Instamart with Mall to deliver a wider selection of products

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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On-demand convenience delivery platform, Swiggy, on Thursday (April 18), announced the integration of Swiggy Mall, with its popular quick commerce platform Swiggy Instamart.

According to the company, Swiggy Mall, which initially ventured into online retail, catering to a diverse range of home and family needs, has garnered significant traction in select areas of Bengaluru. It offers an array of categories spanning sports goods, footwear, clothing, electronics, appliances, toys, and stationery.

Phani Kishan, Head of Swiggy Instamart, expressed the company’s commitment to providing convenience to users. “With our latest update, customers can now explore an extensive selection across over 35 categories, that go way beyond groceries and home essentials, delivered in minutes. This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before,” he said.

Swiggy added that consumers will now have access to a plethora of renowned brands such as HP, Croma, Realme, Liberty Footwear, Puma, Enamor, La Opala, and an assortment of products, including keyboards, headphones, vacuum cleaners, coolers, cookers, idli makers, dinner and crockery sets, AC blankets, shoulder bags, wallets, and more.

Swiggy’s expansion plans include scaling up Swiggy Mall’s operations across multiple cities, starting with Bengaluru.

Also Read: Swiggy partners with Park+ for doorstep delivery of IndusInd FASTag in under 10 minutes

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Blinkit partners with Lenskart for 10-minute delivery of sunglasses, Hustlr computer glasses

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a move that promises to enhance the convenience of its customers, the quick commerce platform Blinkit on Friday, April 12, announced a partnership with leading eyewear brand Lenskart. Effective immediately, Blinkit users can now order select Lenskart products, including sunglasses and the Hustlr line of computer glasses, and have them delivered in just 10 minutes.

Blinkit Founder Albinder Dhindsa took to X (formerly Twitter) to share the news, stating, “Blinkit customers can now get Lenskart products in 10 minutes. Starting with delivering sunglasses and their Hustlr range (Computer Glasses). Curious to see how Hustlr evolves as a brand over time @peyushbansal.”

Blinkit customers can now get Lenskart products in 10 minutes.

Starting with delivering sunglasses and their Hustlr range (Computer Glasses). Curious to see how Hustlr evolves as a brand over time 🤝 @peyushbansal pic.twitter.com/oODNEUM3J1

— Albinder Dhindsa (@albinder) April 12, 2024

The Hustlr range, Lenskart’s line of eyewear designed for extended digital screen use, was launched in 2023 and heavily promoted by Lenskart Founder Peyush Bansal, who appeared as a shark (judge) on the Indian reality television show Shark Tank India.

This latest collaboration comes on the heels of a series of partnerships announced by Blinkit in recent weeks. These include a tie-up with Atomberg, a manufacturer of energy-efficient home appliances, where Blinkit will deliver the company’s ceiling fans in just 12 minutes.

Stoked to see how well Arindam and team are building Atomberg. Happy to be a part of their journey 🙌 https://t.co/3DqZz1zoDG

— Albinder Dhindsa (@albinder) April 11, 2024

Last week, Blinkit also revealed that it would sell PlayStation 5 on its platform, with customers in Delhi NCR, Mumbai, and Bengaluru able to receive the all-new PlayStation 5 Slim editions and controllers in 10 minutes.

However, later Dhindsa took to LinkedIn to assure customers that the company is working on restocking PlayStation 5, as the product went out of stock within a week of its launch on the platform.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

German luxury watch brand Tutima is all set to enter India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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[wealthdesk shortname=”Ethos” isinid=”INE04TZ01018″ bseid=”543532″ nseid=”ETHOSLTD” sector=”Watches & Accessories” exchange=”nse”]

Ethos Ltd. has signed an exclusive retail partnership deal with Tutima to introduce the German luxury watch brand in India.

As part of the partnership, the Chandigarh-based retailer, which operates luxury watch outlets, will exclusively retail sporty and performance-driven Tutima timepieces across India.

The selection, which will be available from early 2023, includes Tutima watches from the sought-after M2 collection, Saxon One, Grand Flieger, and Patria.

Tutima is popular among collectors and enthusiasts for pilot’s watches, which they first started making in the 1980s. The company is known for its innovation with its utilitarian timepieces.

Founded in 2003, Ethos Ltd. is one of India’s largest luxury and premium watch retailers. Last month, Ethos Ltd. tied up with Swiss watchmaker Trilobe to launch a core range of watch collections including Les Matinaux, Nuit Fantastique, Secret, and Une Folle Journée in India.

Trilobe, known for its premium and luxury watch collection, has been nominated for the esteemed Grand Prix d’Horlogerie de Genève (GPHG), often touted as the ‘Oscars’ of the watch industry.

Ethos also partnered with Swiss watch manufacturer Speake-Marin to be their exclusive retailer in the Indian market.

Founded by British watchmaker Peter Speake-Marin in 2002, Speake-Marin started as a brand for individual collectors but later evolved into a watchmaker focusing on Belle Horlogerie or ‘beautiful watchmaking’.

Ethos Ltd. posted a revenue of Rs 177.72 crore for the September quarter as against Rs 134.37 crore in the year-ago period. Its net profit rose to Rs 13.51 crore from Rs 2.65 crore in the year-ago quarter.

The Ethos Ltd. stock is currently trading at Rs 1,018.15, down 1.69 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Berger Paints sees the rural markets starting to recover

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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[wealthdesk shortname=”Berger Paints” isinid=”INE463A01038″ bseid=”509480″ nseid=”BERGEPAINT” sector=”Paints & Varnishes” exchange=”nse”]

Berger Paints, which has seen its rural market share slightly falling in the last couple of quarters, says it is gradually improving.

“Our sales in the rural markets have been gradually improving and I think that it should improve further going forward,” said managing director Abhijit Roy in an interview. 

Paint industry has been a competitive industry so companies had been losing bit of a market share in the past. However, the players should be looking at restoring that back, he said.

The company’s current market share is about 18.8 percent and Roy is looking at pushing it upwards, towards 20 percent in the next one-two years. “If we can do that, that will be good,” he said.

“Overall, we think that we should be able to gain a little bit of market share,” he said.

Growing faster than the industry is Berger Paints’ objective, he said.

Crude oil prices have seen a big slide. The peak level of brent crude prices was about $140 per barrel and now it has almost halved to $77-78 per barrel, flat on a year-to-date (YTD) basis, the lowest level that has been seen in this year. This should be positive for a company like Berger Paints.

Also Read: Berger Paints hopes to see a turnaround as raw material prices cool off

While posting its quarter two results for FY23, the company had indicated that softening raw material prices should aid profitability in quarter three as well as quarter four of FY23.

“Prices are softening a little bit. The effect will probably be seen in quarter four. So quarter four margins will move upwards considerably,” he said.

Also Read: Berger Paints eyes Rs 10,000 crore in revenues aided by margin, new products

Last year, the company had taken the price increases in October, November period. Therefore the volume-to-value gap is almost negligible. In the current quarter, the base was high because of the price increases, there was a delayed withdrawal of monsoon impact as well. So quarter three has been relatively soft in terms of the growth that has been seen by the company so far.

For the full interview, watch the accompanying video

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Public procurement from GeM portal crosses Rs 1 lakh crore this fiscal, so far

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Procurement of goods and services from the government portal GeM has crossed Rs 1 lakh crore so far this fiscal on account of an increase in buying activities by different ministries and departments, a senior official said on Tuesday.

The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the Central government ministries and departments.

GeM CEO P K Singh said that going by the trend, the numbers may reach Rs 1.80 lakh crore by the end of this fiscal.

The portal will become the “largest” e-commerce platform in India this fiscal, by crossing “Amazon and Flipkart also”, he added.

“Today, we have crossed Rs 1 lakh crore figure. Our target for this fiscal was Rs 1.5 lakh crore but going by the trend, we may reach Rs 1.80 lakh crore,” Singh told reporters here.

In 2021-22, it stood at Rs 1.06 lakh crore.

The top five states buying from the portal include Gujarat, Uttar Pradesh, Maharashtra, and Madhya Pradesh.

The portal provides a wide range of products from office stationery to vehicles.

GeM has over 63,000 government buyer organisations, over 54 lakh sellers and service providers offering a wide range of products and services.

Further, he said that GeM has recently launched a focused campaign to boost procurement via states.

According to him, dedicated nodal officers with a data-backed roadmap have been identified for select states.

South Korea’s KONEPS is the largest such platform in the world. Currently, GeM stands at the third position after Singapore’s GeBIZ.

He exuded confidence that the GeM platform is growing at a faster pace and it would surpass GeBIZ this year.

Also Read: India approves sale of pesticides through e-commerce platforms

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India approves sale of pesticides through e-commerce platforms

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amending the existing rules, the union government has approved the sale of pesticides through e-commerce websites in India. Now, all e-commerce platforms including majors like amazon and Flipkart can home-deliver pesticides to their customers.

The government amended the Insecticide Act to make the online sale of pesticides legal in India. However, it is mandatory for the company selling pesticides to have a licence and strictly follow the laid-out guidelines. Moreover, the e-commerce platforms would be solely responsible for the verification of the license.

Also Read:Government’s paddy procurement up 9% at 306 lakh tonnes so far this year

“A licensee may undertake the sale of any insecticide through e-commerce entity for supply of insecticides to the doorstep of the farmers during the currency of licence, and the licensee shall comply with the provisions of the Act and the rules made there under for the time being in force,” the notification read.

This latest step is set to increase competition in the pesticide market resulting in a reduction in the prices of pesticides. This move will also assist agrochemical manufacturers in establishing their online presence and increasing their customer base. Moreover, Farmers would now have more options available to them.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow