'In the last 4, 5 years, ever since online companies started online shopping in a big way with heavy discounts, our sales are affected badly.' 'As there is no control over the way the online companies operate, they were able to destroy the domestic retail market to a great extent.'
We are adapting to the situation by innovating new delivery modelss, launching brand campaigns that are impactful in the current context and closely monitoring changes in consumer buying behaviour, he said.
Edtech unicorn Vedantu has laid off 385 employees, nearly 11.6 per cent of the company workforce, according to sources. This move is being seen as part of a drive in the edtech sector towards profitability via cost-savings and consolidation, as funds dry up, they said. The Bengaluru-based firm has laid off over 1,100 employees (both full-time and contractual), so far, this year.
As India's online population crosses 450 million, e-commerce ventures are trying to grab a pie of online sales estimated to hit $48 billion by 2020.
A consumer wins a case against a financial company for selling him a car online, but not transferring the ownership in his name.
A handwritten letter in which Albert Einstein questioned the existence of God is going up for sale online, with bids starting at $3 million (Rs 15.6 crore).
The company is modelling its many ventures on Alibaba in China.
Neetu Yadav and Kirti Jangra teamed up to create an app that is possibly the platinum standard for apps targeted at Bharat.
Zomato is far behind the numbers it promised to its investors for FY16.
Consider these six things before going crazy on the big sale war between Flipkart, Amazon and Snapdeal!
Demonetisation impacted the smartphone market at almost all levels, including customer demand and stock movement in distribution channels.
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
At present, Flipkart's total seller base is 60,000.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
He said action was akin to holding highway builders responsible for lane violations
The online channel has only been successful in making inroads in metro cities.
Production, storage and sale of firecrackers in the capital will be punishable with a fine of up to Rs 5,000 and three years jail under Section 9B of the Explosives Act, the minister told a press conference in New Delhi.
The company currently controls over 30 per cent of the online smartphone market in the country, but says that isn't enough.
'"We want to get the learnings from Flipkart and take it to other parts of the world," Walmart CEO Doug McMillon was quoted as saying.' 'That is a very large tuition fee for an MBA in a country that outdoes Brazil and perhaps even China in busting multinationals' knees and sometimes their heads as they try to crack a market of mostly impoverished people run by a government that has never really given up the sadistic pleasures of administering the license raj,' notes Rahul Jacob.
The Chhattisgarh government has decided to set up model fair-price shops (FPS) in each district and encourage owners to act as banking correspondents for providing financial services. The state has around 12,300 fair-price shops across 33 districts. The state government is, however, encouraging FPS owners to provide a host of services besides acting as a banking correspondent.
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
The agency raided several locations in Delhi and Uttar Pradesh and busted the nefarious nexus, officials said, adding that Manish Rawat, the neurosurgeon, was arrested in the early hours of Thursday.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
The writing has been on the wall for some time and it showed up prominently during the festival-season sales last year, when Meesho toppled Amazon to become the second-largest player in order share. During the sales season, 60 per cent of the orders Meesho received were from tier-4 cities and beyond. According to a report by consulting firm Redseer, festival-season sales last year were driven primarily by tier-2 and tier-3 cities, with 64 per cent of the shoppers coming from those.
Rediff reader Tushar Kulkarni, 40 from Dombivali shared some valuable tips.
'Everybody thought I was crazy to quit my job and jump into entrepreneurship.'
Missing the deadline for filing Income Tax returns can lead to consequences.
India's first-ever listed new-age company, Zomato, has seen a meteoric rise in its stock price in calendar year 2023 (CY23), rising 70.75 per cent during this period as compared to 9.5 per cent rise in the S&P BSE Sensex. From being the second worst hit new-age stock in CY22, crashing 57 per cent on the National Stock Exchange (NSE), the stock hit the Rs 100-mark for the first time since January 2022 in late August. The stellar run in the stock - only after PB Fintech and One97 Communications-owned Paytm, analysts say, may be coming to an end, at least for now.
Marathi author Anand Karandikar on Tuesday announced that he would return his award in protest against the Maharashtra government withdrawing an award for a Marathi translation of the memoir of alleged Maoist ideologue Kobad Ghandy by author Anagha Lele.
After identifying the man who was the patient zero or index case of the Nipah virus outbreak in Kerala, the state government on Saturday began looking for the source and place from where he got infected by seeking details of his mobile tower locations.
Delhi Chief Minister Arvind Kejriwal on Friday said pollution levels declined in the national capital due to government initiatives as he announced a 15-point winter action plan to curb pollution.
The move puts it in competition with Apple, Amazon and Google.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. Three state-owned fuel retailers -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability.
Automaker Citroen on Wednesday said it has commenced home deliveries of C5 Aircross SUV, its first model in the Indian market. The company, which is a part of Stellantis group formed by the merger of two global auto majors FCA and Groupe PSA, is taking online bookings for the model and then directly delivering the SUV to customers from its Tiruvallur-based (near Chennai) manufacturing plant. It is the first of its kind sales initiative in the country. Citroen currently has showrooms across ten cities in the country, including Bengaluru, Ahmedabad, Chennai, Mumbai, Pune, Hyderabad, Kolkata, Delhi, Kochi, and Gurugram. For customers outside these cities, it has launched a 100 per cent direct online buying for its flagship model.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Reliance Retail follows Future Group in online foray
Home sales in the top 10 cities - Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - have declined at a compound annual growth rate of 8% since 2011.
FSN E-Commerce Ventures Ltd, which operates online beauty e-commerce platform Nykaa, on Monday said it has fixed a price band of Rs 1,085-1,125 per share for its initial public offer (IPO) that opens for subscription later this week. The IPO will open for subscription on October 28 and conclude on November 1. IPO comprises a fresh issue of equity shares aggregating up to Rs 630 crore (fresh issue) and an offer for sale of up to 41,972,660 equity shares being offered by the selling shareholders (offer for sale or OFS), a statement said.
Major players like Flipkart, Snapdeal and Amazon have, in the last two months, offered discount schemes on specific days, in sync with the festive season in the country.
