Tag: E-commerce

E-commerce companies asked to desist from selling dangerous products, using dark patterns

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

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Union Minister of State for Consumer Affairs, Food & Public Distribution, Ashwini Kumar Choubey on Wednesday said in the Lok Sabha the Central Consumer Protection Authority (CCPA) has issued advisories to e-commerce companies to desist from manufacturing, selling or listing products that are dangerous to the lives of the consumers. Key among these are against the sale of car seat belt alarm stopper clips and wireless jammers.

Under the provisions of the Consumer Protection Act, 2019, a CCPA has been established to regulate misleading advertisements. The CCPA has advised all marketplace e-commerce platforms to display information provided by sellers as per the E-Commerce Rules, 2020.

The press release said CCPA has also issued two safety notices cautioning consumers against buying goods that do not hold valid ISI Mark and violate compulsory BIS standards, such as helmets, pressure cookers, cooking gas cylinders and other household products.

The Minister added that the department has noticed the emergence of unfair trade practices known as “dark patterns” which involve using design and choice architecture to deceive or influence consumers into making choices. As per him, e-commerce companies have been asked to avoid such practices.

The Consumer Protection Act, 2019 was enacted to replace the Consumer Protection Act 1986. It provides for improved protection for consumers involved in online transactions. The new act has widened the scope of the definition of “consumer” to include persons who buy or avail of goods or services online or through electronic means which was not present in the earlier act.

Also Read:E-commerce industry likely to create 7 lakh gig jobs in second half of 2023: TeamLease 

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

E-commerce industry likely to create 7 lakh gig jobs in second half of 2023: TeamLease 

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

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Indian E-Commerce industry is likely generate almost 700,000 gig jobs in the second half of 2023 to fulfil consumer demands during the annual shopping frenzy, according to a TeamLease report. 

With July opening up the market with shopping festivals by various e-commerce players, the sector currently has around 200,000 open positions for temporary workers primarily in the last mile delivery space and warehouse operations jobs.

The demand for gig workers during the festive season has been consistently rising, not only in tier-1 cities like Bengaluru, Delhi, Mumbai, Hyderabad, and Chennai but also in tier-2 and tier-3 cities like Vadodara, Pune, Coimbatore.

In both metropolitan areas as well as tier-2 and tier-3, there is a predominant need for roles such Warehouse Operations, Last-Mile Delivery Personnel and Call Center Operators, however, the proportion of demand is higher in the tier-2 and tier-3 cities versus in tier-1 as against last year. This is primarily owing to the recovery in rural demand expected in the back of easing inflationary pressures.

This year’s festive hiring is anticipated to witness a remarkable 25 percent increase in gig jobs compared to the same period last year, reflecting the sector’s optimistic outlook and aspirations to boost positive sentiments, the report said.

Balasubramanian A, Vice President and Business Head, Teamlease Services, said, “Over the last 5 years, we have seen an impressive 20 percent year-on-year increase in the demand for gig workers, and this upward trend is expected to persist for the next 2-3 years, especially in the thriving e-commerce category. With July opening up the festive season hiring, the e-commerce sector alone has 200,000 open positions at present, which will eventually increase and reach about 700,000 by December.”

According to industry reports, it is anticipated that India’s gig workforce will reach 2.35 crore by 2029-30.

“As we move forward, we look forward to a future where the gig economy plays a pivotal role, and we are committed to supporting this dynamic workforce for the e-commerce sector in their journey towards success,” Balasubramanian said.

The data shows a 69 percent surge in gig workers earning more than Rs 150,000, indicating a high-income segment. Additionally, there is a significant 62 percent increase in gig workers earning between Rs 85,000 and Rs 150,000, falling in middle-income bracket.

Furthermore, the data show that the surge in gig workforce hiring is not limited to the e-commerce sector. Several other industries are also ramping up their recruitment efforts to meet the festive season’s demands.

Retail and logistics are among the prominent industries that are expanding their workforce to meet the increased consumer activity during this festive season.

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

G.O.A.T Brand Labs invests in innovative collabs and community building initiatives for Breakbounce

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

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E-commerce roll-up firm G.O.A.T Brand Labs has made an investment in innovative collaboration and community-building initiatives for Breakbounce, a unisex casual wear brand.

Breakbounce recently launched its new ‘Fearless’ collection which aims to capture the spirit of street culture while staying authentic to the brand’s ethos of movement and dynamism. One of the features of the Fearless collection is the introduction of ranges named ‘Taika’ and ‘Voice’.

To launch this collection, G.O.A.T Brand Labs has invested in community-building efforts through strategic collaborations, which will help Breakbounce grow and strengthen its customer base. G.O.A.T has helped the casual wear brand partner with a diverse group of influencers who embody the brand’s ethos.

Backed by marquee investors – Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar and Better Capital, G.O.A.T has also been investing in brand marketing efforts for some of its other high-potential brands like trueBrowns, The Label Life and Voylla.

“The mission for Breakbounce continues to be to deliver high-quality products to the youth, aligned to the latest urban and casual wear trends. Breakbounce was the first to introduce street fashion in India and we envision it becoming the most preferred brand in the category,” said Rishi Vasudev, CEO & Co-founder of G.O.A.T Brand Labs.

Breakbounce has partnered with popular choreographers\YouTubers Tejas Dhoke & Ishpreet Dang from Dancefit Live for a long-term association. It has also teamed up with doctor-turned-DJ, The Spindoctor (Dr. Sanjay Meriya), to showcase the brand’s dedication to celebrating diversity, creativity and expression in all its forms. The brand has also featured India’s champion breakdancer – Bboy Wildchild (Eshwar Tiwari) in one of their brand videos to bring out the spirit of street culture.

“We see Breakbounce as more than just a streetwear brand; it’s a movement, a platform for self-expression and individuality. Our potential lies in our ability to connect with our customers at a deeper level, to resonate with their passions and aspirations and to be a catalyst for positive change,” said Sanjeev Mukhija, Founder of Breakbounce.

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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

Indians earning Rs 2.5-10 lakh to drive $300 billion e-commerce boom by 2030: Redseer

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

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It’s not the ultra-rich but the up-and-coming youngsters who will drive India’s e-commerce boom. A report by Redseer says Indian consumers who have an annual income of Rs 2.5-10 lakh will play a big role in making e-commerce a $300-billion opportunity by the end of this decade. They could potentially add over $110 billion to the gross merchandise value of e-commerce.

The rise of mass consumers

As per the report, there are three categories of e-commerce shoppers — affluent, mass and strivers.

Affluent consumers are the ones who make more than Rs 10 lakh a year, while mass consumers earn between Rs 2.5-10 lakh and strivers have an annual income of less than Rs 2.5 lakh.

THE E-COMMERCE SHOPPERS

Redseer Consumer Survey

Mass consumers constitute more than half of 319 million Indian households, while the affluent constitute around 15 percent and strivers constitute about 33 percent.

The report says mass consumers are value-conscious. Sixty percent of mass consumers surveyed said they would even buy unbranded products, even in categories like home and kitchen or fashion, as long as they are available for the right value.

Meanwhile, affluent consumers prefer premium products across categories like smartphones, beauty and personal care and are also open to buying organic products and smart luggage, which usually cost more. Strivers, on the other hand, mostly stick to essentials.

How online shopping patterns vary

For mass consumers, 75 percent of whom are Gen Z and Mmillennials, the internet is becoming an integral part of their purchasing journey. Sixty five percent of mass consumers, surveyed by Redseer, research products online, 22 percent buy products online and 73 percent use digital payments for e-commerce purchases.

HOW MASS CONSUMERS USE INTERNET WHILE BUYING

Redseer Consumer Survey

Even though the penetration for digital shopping remains low for the category, 70 percent of mass consumers surveyed said the frequency with which they buy products online has increased in the past year, especially when it comes to apparel, health and wellness and food and groceries.

The report says this indicates headroom for growth. E-commerce platforms already have a high penetration in the affluent consumer category, but when it comes to big-ticket purchases, the rich prefer shopping offline. However, the report highlights that strivers depend on unorganised local markets to buy products.

Why mass consumers will be the driver

RedSeer’s survey found that mass consumers shop online because e-commerce websites offer better prices and discounts, easy returns and refunds, and a wide range of options. These consumers are also tech-savvy and open to trying out new affordable products that e-commerce platforms sell.

Gen-Z reshaping online shopping

Social media is also driving Gen Z, who are largely mass consumers, to online shopping, as per the report. The digital-savvy generation knows how to compare products and prices using information available on social media before narrowing down on an option.

The rise of online content and short-format videos have enabled this generation to share good deals and genuine feedback with each other.

As of 2022, over 65 million Indian households were transacting on e-commerce platforms monthly. The report expects this number to nearly double by 2030, with mass consumers adding more than 80 percent to the incremental transacting households.

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

India’s warehousing market boom — Will e-commerce slowdown drag it down?

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

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The warehousing sector in India has come a long way from godowns to state-of-the-art automation-assisted warehouses. It is a fundamental part of business infrastructure and one of the key enablers in the global supply chain. Fuelling its rapid transformation are challenges of the pandemic and the rising e-commerce activity.

India’s warehousing market picture

India’s warehousing market has been experiencing remarkable growth in recent years. According to Research and Markets, as of 2021, it was valued at Rs 1,206.03 billion. However, by 2027, it’s projected to reach a staggering Rs 2,872.10 billion, with a compound annual growth rate (CAGR) of approximately 15.64 percent during the 2022 to 2027 period. These numbers indicate a significant opportunity for investors and businesses in the warehousing sector.

So, what factors are driving this growth in the Indian warehousing market?

First, the rise of e-commerce has been a major contributor. With the increasing adoption of online shopping, the demand for efficient storage and distribution centres has soared.

Second, the growth of the manufacturing sector has played a crucial role. As manufacturing activities expand, the need for warehousing space to store raw materials and finished goods has grown substantially.

Third, the government’s focus on infrastructure development has created a conducive environment for the warehousing industry. Investments in roads, highways, and logistics parks have improved connectivity and logistics efficiency.

Finally, there is an increasing demand for cold storage facilities due to the growing need to preserve perishable goods such as food, pharmaceuticals, and other temperature-sensitive products.

India’s warehousing industry Vs developed markets

Indian warehousing is still at a very nascent stage and has a long way to go before tapping into its full potential. One of the ways to gauge the scale of the opportunity the Indian warehousing market represents would be to compare the per capita stock of warehousing with developed markets. India has a per capita warehousing stock of just 0.02 sq m compared to the USA, China and the United Kingdom that have 4.4 sq m, 0.8 sq m and 1.09 sq m respectively, as per data from Knight Frank.

Third Part Logistics or 3PL players have been the most prolific occupier group fuelled by the increasing need for e-commerce logistics as well as the strengthening trend of most companies increasingly preferring to outsource their logistics requirements. According to Knight Frank, the 3PL sector accounted for the highest market share among all occupier groups at 39 percent in FY23, the highest by any sector, followed by manufacturing, retail and others. E-commerce — which had been a big growth driver in FY22 saw a sharp dip in FY23 as players witnessed some slowdown and a tough macro environment. However, come FY26, and e-commerce is expected to bounce back as the largest contributor to demand, followed by 3PL and others, a Knight Frank study showed.

Transaction volumes grow

With FY22 having achieved record transaction volumes, industry stakeholders doubted if FY23 would sustain the momentum, especially with the slowdown in demand from the prolific e-commerce sector during the year. Nonetheless, warehousing transaction volumes have matched the record levels achieved in FY22, as the 3PL and manufacturing companies filled the vacuum left by the e-commerce sector, with transaction volumes touching 4.8 million square metre as of FY23.

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The eight primary markets of India held an estimated 38 million sq m (412 million sq ft) of warehousing stock at the end of FY23. Strong transaction volumes, in tandem with comparatively lower supply in FY23, have brought down the vacancy level to 12.2 percent during the year.

The Mumbai market accounted for 34 percent of this stock and along with NCR, constituted 52 percent of the total stock. Vacancy levels in the major markets of Mumbai, NCR, Bengaluru, Pune and NCR have dropped significantly compared to the previous year.

Warehousing — not all are equal

Not all warehouses are the same- they are roughly divided into grades. There is an increasing demand for Grade-A warehousing facilities which are better equipped with additional floor-load capacity, better planned spaces, safety precautions as well as adherence to international standards. Grade-A warehousing is taking over Grade B and C, which have limited infra capabilities.

Now here’s where the opportunity lies — India will need to create adequate supply to meet an absorption of 223 million square feet of Grade-A warehousing demand over the next three years, as per a study done by Credai and Anarock Research last year.

Investments in the sector

This will require an equity investment of $3.8 billion to support this scale of development. As per Credai and Anarock’s estimates, this signifies a latent investment opportunity of further $2.8 billion in warehousing in the near future.

In 2022, warehousing continued to emerge as the most sought-after sector for investment, despite other sectors experiencing slowdown. Data from Venture Intelligence showed that private equity investors collectively invested over $1.9 billion in 2022, with an average investment per deal of $272 million. The annual investment volume increased by 45 percent year-on-year compared to $1.3 billion received in 2021.

Factors affecting the growth of the warehousing industry

As more consumers turn to online shopping, there is a need for efficient fulfillment centers and last-mile delivery infrastructure, creating opportunities for the warehousing.

Also Read: GST Council levies 28% tax on full value in online gaming; industry calls it a killer blow

Then you have the ‘Make in India’ campaign, GST implementation, and the National Logistics Policy to promote the growth of the manufacturing and logistics sectors, which auger well for the sector.

There’s also increasing organised retailers who require warehousing facilities to maintain sufficient inventory and ensure timely replenishment, leading to increased demand for warehousing services.

India’s growing middle class and increasing disposable incomes are driving consumer demand for a wide range of products. This surge in demand necessitates efficient supply chain management and adequate warehousing facilities.

The warehousing sector in India is attracting investments from domestic and international players. Collaborations between stakeholders, including e-commerce platforms, logistics providers, and manufacturers, are also driving the growth of the sector by creating integrated supply chain ecosystems.
On the other hand, inadequate transportation networks, lack of modern facilities, and limited availability of land suitable for warehouses.

Secondly, complex and time-consuming regulatory procedures can pose a significant hurdle. Obtaining necessary permits, licenses, and clearances can be a lengthy and cumbersome process.

Then there’s shortage of skilled workers in the industry, and attracting and retaining talent can be challenging, affecting the growth potential.

Also, the warehousing sector in India is highly fragmented, with many small and unorganized players. This leads to inefficiencies, lack of standardisation, and limited scalability.

While technology adoption is increasing in the warehousing sector, there are still significant gaps in implementing advanced solutions such as warehouse management systems, automation, and data analytics.

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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

E-commerce players face challenges as drive against fake GST registration intensifies

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

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The ongoing drive against fake GST registration by the Central Board of Indirect taxes and customs (CBIC) has created many issues for e-commerce players in the country. This has led many companies doing business in various states across the country coming under the radar and in many cases are being branded as fake entities.

The online players have raised issues with the physical on ground verification by GST officers because these players maintain virtual offices in many places with minimal staff and no books of accounts. The industry has raised these issues with the government over the last one month as they continue to face multiple issues. The two-month drive against fake-GST registrations was started by CBIC in May.

According to the CBIC, the government’s recent two-month drive against fake GST identified around 45,000 entities and has detected evasion of around Rs 13,900 crore. The CBIC has blocked input-tax credit of Rs 1,430 crore till now. Authorities investigating fake GST registrations, rely heavily on the physical location of a company, visiting the offices to assess the account books.

In the case of e-commerce players, many registered offices are virtual with minimum or no staff present. Tejinder Singh, VP and Head of Tax, Make My Trip Group, told CNBC-TV18 that the company has faced many problems in various states because of the ongoing drive.

“This recent GST drive has caused a lot of pain to us, the officials have seen virtual offices as fake registrations. We maintain virtual offices in states and the field officers have mistook these offices as fake registration, however we were only using these offices for tax payment, there was no ITC flow or fraud being committed using those registration. We are looking to speak to the government for this. If I am a genuine taxpayer I should be allowed to take virtual registration in some states. Many of our registrations have come under the compliance radar because of this,” said Singh.

Not just the big players, the impact of getting branded as a fake registration is haunting the smaller online players more. In many cases, smaller players now want to run businesses from one state only to minimise compliance and to avoid cancellation of registrations.

“The basic issue with small enterprises is that we have to have GST registrations across states in which we operate. I need to either have a rented place or my own place for GST registrations. The option that a small online player has is to either take a shared warehouse or a co-working space to register my GST. We have received more than 2000 SOS calls from various entrepreneurs,” said Vinod Kumar, President, India SME Forum.

“The most impacted people in this are small entrepreneurs who have to do HST compliance in various states and have a CA in all states that we have to pay. This impacts smaller companies more than bigger entrepreneurs. I have certain cases in which entrepreneurs have given up and shut down in various states to avoid cancellation of registrations. People at the bottom rung do not have the wherewithal to have lawyers and auditors don’t want to get into these issues,” he added.

However, the CBIC has maintained that the line of distinction between a fake registration and an e-commerce virtual office can be very thin. Officials say companies with virtual offices must satisfy queries of GST officials.

Speaking at the FICCI GST Conclave, Shashank Priya, Member GST, said, “Since there is a requirement to have records kept at the place of registration, there should be an electronic means of fetching the records and showing it to the GST officers to satisfy that you are legitimate registrant, even if you have a virtual office. Sometimes when the officers go to these virtual offices, the administration there says that the record books are not with us, they are with the head office. That creates a suspicion.”

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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

Local shopping app Pincode now available in 10 cities including Delhi NCR and Mumbai

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

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Pincode, a local shopping app developed by PhonePe on the ONDC platform, announced on Monday that it has launched in 10 major cities across India.

The cities where Pincode has gone live include Mumbai, Delhi, Noida, Gurugram, Chennai, Hyderabad, Ahmedabad, Pune, and Kolkata. Users will now be able to buy groceries and order food from local shops and restaurants on the platform, as per the company.

“With the presence of renowned local brands like Society Stores in Mumbai, Khan Chacha in Delhi, Ajfan Dates and Nuts in Chennai, and Paradise Biryani in Hyderabad, Pincode offers consumers the opportunity to browse and order directly from their favourite local shops and restaurants, at the right price and with a wider selection of products,” the company said in a statement.

Pincode also added that it will be offering discounts and guarantees hassle-free refunds and returns, in an attempt to enhance the experience for its users. Moreover, the app is said to be working towards expanding into additional categories such as pharma, fashion, and electronics to provide a comprehensive online shopping platform for its consumers.

The Pincode app was initially launched in Bangalore in April and claims to have delivered over 1 lakh orders in the city. Lalit Singh, the General Manager of Pincode, expressed excitement over the app’s expansion, stating, “We are thrilled to share that Pincode is now live in 10 cities across India. The initial response and rapid consumer adoption of Pincode have given us the confidence to expand our services.”

Singh further emphasised the company’s commitment to supporting local sellers and providing an exceptional shopping experience to consumers. Pincode aims to continue growing its ecosystem, expanding its category offerings, and scaling its presence nationwide. The app has ambitious plans for further expansion into more cities in the coming months.

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

E-commerce operators face issue in GST drive to check fake registration

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

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The pan-India drive against fake GST registration has created problems for e-commerce companies which maintain virtual offices in various states with minimal staff and no books of accounts.

Talking to PTI, MakeMyTrip Group Vice President -Taxation Tajinder Singh said that the GST officials should enquire with the head offices with regard to virtual offices before categorising the state registration as a fake entity for non-production of books of accounts.

“We maintain virtual offices in states …in this fake registration drive the field offices have mistook these offices as fake registration, however we were only using these offices for tax payment, there was no ITC flow or fraud being committed using those registration. Because of this, lot of registration were blocked for compliance purpose and that created problems for us,” Singh said.

Centre and state GST authorities have on May 16 launched a two-month drive to check fake registration under Goods and Services Tax (GST). The fake registrations are mainly taken to defraud the exchequer by wrongfully claiming Input Tax Credit (ITC).

In this drive, 45,000 fake registrations have been identified and evasion worth Rs 13,000 crore detected. Also, wrongful availment of ITC worth Rs 1,430 crore has been blocked.

Singh said that the field offices should take into account the fact that virtual offices are maintained with a few staff and often they do not attend office everyday. The virtual office with a place of address is created only to comply with state GST laws and are not meant to claim wrongful ITC.

“When field officers come to this virtual offices, they will not find physical presence of employees and in that sense they would say nothing is there. After going back they will send us emails and we provide them the information. All the information is available, all the records are available. It may not be readily available when they approach the office,” Singh added.

The e-commerce companies have been representing to the GST authorities that they should be allowed to keep the head office address for registration in states to help them do away with the requirement of having a physical presence or maintaining a physical office.

On the issue faced by e-commerce companies, Central Board of Indirect Taxes (CBIC) Member GST Shashank Priya said one thing we have been advising is that wherever you have indicated as a virtual office, the line of distinction between a fake registrant and an e-commerce operator is very thin.

He said there should be some distinguishing feature by which virtual offices in states can say that this is genuine.

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“You should be able to fetch your books of accounts. Sometimes when the officers go, the administration people say that the records are not with us, they are with the head office. So that creates a suspicion.

“Since there is a requirement to have records kept at the place of registration, there should be an electronic means of fetching the records and showing it to them to satisfy that you are legitimate registrant,” Priya said.

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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

Indians from Tier II cities drive online shopping boom, reveals CyberMedia Research Study

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

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India’s e-commerce landscape is witnessing a significant surge in online shopping, with consumers from Tier II cities and beyond leading the trend, according to CyberMedia Research (CMR). The study sheds light on the changing dynamics of the Indian retail market and highlights the preferences and habits of online shoppers.

The report reveals that Indians from Tier II cities spend an average of two hours and 25 minutes per week shopping online, devoting approximately 16 percent of their income to these purchases. Among the Tier II cities, Guwahati, Coimbatore, and Lucknow stand out for their high engagement in e-commerce, with Bengaluru leading among Tier I cities, spending a maximum of four hours and two minutes weekly on online shopping.

According to Prabhu Ram, Head-Industry Intelligence Group, CMR, “The wide range of choices, convenience, and comfort provided by eCommerce has empowered emerging young consumers in Aspirational India (Tier II, Tier III cities and beyond) to shop more online and to fulfill their aspirations. Major players like Amazon and Flipkart, niche market players such as Meesho and others, and conglomerates like Tata and Reliance are fiercely competing in these markets. Our research emphasises that Amazon, with its extensive and enduring presence across India, has the consumer trust and is their preferred choice.”

The study identifies three key triggers for online shopping: attractive prices, convenient return and exchange processes, and irresistible offers. These factors are driving the growth of the e-commerce market in India, enticing consumers to make their purchases online.

Some intriguing insights from the study include the rise of online shoppers, with women entrepreneurs and others spending an average of 149 hours annually on e-commerce. Notably, Gen Z shops more frequently online than millennials. Furthermore, two-thirds of consumers have spent up to Rs 20,000 on online shopping in the past six months, with Mumbai exhibiting the highest average spend at Rs 24,200.

Clothing and accessories, along with electronics and electronic gadgets, top the list of products purchased online, with smartphones, headphones/earphones, and smart bands/smartwatches being the most popular electronic gadgets. In terms of electronics, Nagpur leads the way, with 81 percent of consumers purchasing electronics and electronic gadgets online.

The study also delves into the preferences and considerations of Indian consumers in various categories. For smartphones, 5G compatibility is highly important, with 57 percent of smartphone users prioritising it in their next purchase. Laptop sales are driven by the need for any time, anywhere work and learning, while battery life, 5G capability, and operating systems are key factors influencing tablet purchases.

When it comes to the choice of e-commerce platforms, Amazon emerges as the most preferred, followed closely by Flipkart. Amazon’s attractive prices, easy return/exchange process, brand trust, and convenience of shopping across pin codes in India are cited as reasons for its popularity. User satisfaction is high, with 63 percent of Amazon users reporting satisfaction, followed by 52 percent for Flipkart.

Sugandha Srivastava, Senior Manager, Industry Consulting Group (ICG), CMR, believes that both online and offline retail will continue to co-exist in a diverse market like India. “As consumers continue to gain digital fluency, the eCommerce boom will also significantly benefit small business owners as well. This will contribute to the rise of India’s trillion-dollar internet economy,” she added.

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

AJIO Big Bold Sale sees 40 percent jump in sales this summer

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

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India’s fashion and lifestyle e-commerce brand AJIO saw its biggest-ever edition of its flagship sale event Big Bold Sale (BBS). Customers spent more than 120 crore minutes shopping on the e-commerce platform in the course of the sale.

The overall order volume rose by over 40 percent in comparison to the previous summer edition of the sale. There was a high demand for the summer collection on the fashion e-tailer’s platform with customers buying over six lakh sundresses.

Brands like Buda Jeans Co, GAP, Marks & Spencer were among the most sought-after in the AJIO BBS. More than six lakh sneakers were also sold during the BBS.

The sale saw a significant increase in shoppers from smaller cities as half of the total orders were from tier 2 and tier 3 cities. Additionally, over five lakh first-time shoppers were from these cities.

Bengaluru shopped the most among the metro cities and Mysuru and Karnal topped the list for the non-metros.

AJIO’s CEO Vineeth Nair pointed out that almost more than half of the total orders were from smaller towns.

“It is encouraging to see the growing uptick from the non-metros during the shopping season, with almost half of the total orders coming from smaller towns and cities of the country,” Nair said.

“With over 1.5 million customers shopping more than once during the sale and 40 percent growth in overall order volume over last summer’s edition, we delighted customers with an unparalleled shopping experience,” Nair added.

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Men’s and women’s western wear category saw a cumulative growth of 150 percent over last summer sale, led by brands like The Indian Garage Co, Buda Jeans Co, The Bear House, GAP, M&S, Fyre Rose, Vero Moda etc.

On an average, 160 T-shirts and 100 pairs of jeans were purchased by shoppers every minute during this sale.

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