eCommerce News – April 2022
eCommerce News - April 2022
Online Spring Festival Discounts Are Back After 2 Years
- After almost two years of being hit by the pandemic, online spring festive discounts are set to make a comeback.
- This is across all categories including apparel, fashion, home decor , appliances and more.
How Indian eCommerce Brands Can Leverage Customer Data for Amplifying Engagement
- As per a McKinsey report, many customers have switched stores, products or their buying method during the pandemic. This has severely put brand loyalty at risk.
- The report further claims that 71% of the customers are looking for personalized interaction as well, failing which dissatisfaction occurs.
- Keeping this and more points in mind, here are some solutions for engaging customers online.
Video: A Peak into Dubai’s Futuristic Ecosystem
- eCommerce has been changing at a fast pace globally and UAE is leading in multiple areas in the sector.
- MEASA (Middle East Africa, and South Asia) has launched Dubai Commerce City to build robust partners at an international level.
- It is the first and also the leading eCommerce free zone in MEASA.
Cloudtail Starts Shipping business Inventory to Other Sellers as Closure Nears
- Cloudtail is one of the biggest sellers on Amazon India. They have now started transferring inventory and business rights to other sellers of Amazon.
- The current suppliers of Cloudtail are being sent new contracts for transfer to other existing eCommerce sellers on the marketplace.
- Categories include health, electronics, personal care products and more
ExpoBazaar To Enable Indian Exporters Tap Foreign Markets Through B2B eCommerce
- ExpoBazaar has launched its debut B2B marketplace on 30th March, 2022 at the IHGF Delhi Fair.
- The new platform will now enable businesses to reach global markets. Expected users of the platform shall include verified independent retailers and other business owners internationally.
- ExpoBazaar is a subsidiary of India Expo Mart that is a cross border export marketplace.
India's YoKart Launches B2B eCommerce Platform
- YoKart, India’s eCommerce marketplace builder, has launched YoKart B2B.
- This is a new B2B marketplace software tool, that is designed for manufacturers, distributors, wholesalers and service providers.
Tata Group Launches Tata Neu- Their All in One eCommerce App
- Tata Group’s new super app was launched on Android and iOS, on 7 April.
- Customers will be able to shop on all in-house brands including Chroma, Westside, AirAsia India, the Taj chain of luxury hotels and BigBasket via the app.
- Prior to its release the app already had around 10-15 Million visits.
Analysing Shopee's India Exit From a Singapore Perspective
- Highlight of last week was Shopee announcing its exit from India. The marketplace owned by Southeast Asian eCommerce and gaming company- Sea Limited claimed that it is because of “global market uncertainty”.
- Shopee stopped its sales on 29 March 2022 at midnight and promised to fulfill the placed orders and attend after sales services as well, for customers.
- Sea Limited was once Singapore’s largest company by market value.
Flipkart Launches New App to Help Customers Order Medicines Online
HC Directs Govt To Defreeze Alibaba’s Bank Accounts
- Providing major relief for the Alibaba group, the Bombay High Court has directed the government to defreeze two of its accounts – Alibaba Cloud (India) and Alibaba eCommerce India.
- The verdict was in response to the eCommerce giant’s legal appeal. However, they were asked to abide by the set of instructions laid down by the court.
- The two accounts were freezed in lieu of a cheating case.
Red Flags Around “Buy Now Pay Later” Plans
- Buy Now Pay Later (BNPL) services have been attracting customers as well as businesses with their offering of hassle-free, zero-interest, short-term loans.
- Around 22% of Indian shoppers used BNPL during the last 3 months of 2021; as per YouGov’s survey.
- Further, India ranks 3rd in the adoption of the payment mode in international markets. BNPL is also being adopted by those with low credit scores.
- However, the payment mode has raised some red flags. Read on to know more.
Nykaa Launches Direct-to-Retail Distribution App 'Superstore by Nykaa'
- Nykaa recently launched “Superstore by Nykaa” which is a tech forward, direct to retail business distribution app. The app with complement its retail ecosystem.
- Via the superstore app, retailers can access personal and wellness products at distributor price.
- It is an easy to use app that is being made available to retailers across the country.
Government Owned ONDC to Pilot Launch in April 2022
- The open public digital infrastructure framework, Open Network for Digital eCommerce (ONDC) is set to launch its beta version of the app in April.
- It will be piloted in 5 cities of India namely Delhi, Bangalore, Coimbatore, Shillong and Bhopal.
- Companies such as PayTM, Dunzo, PhonePe, Go Frugal, Microsoft etc. are in advanced stages of integration.
India’s Voice Commerce Shoppers Set to Rise
- India’s voice commerce shopping is said to grow to 168 million users by the end of the year.
- The current count of users is 83 million as per reports released on Wednesday. 42% of voice commerce users are female.
- Voice commerce is essentially using voice to search products while shopping online.
CoutLoot Launches Platform to Connect Sellers to Manufactures
- CoutLoot has announced the launch of a wholesale platform to connect offline and online sellers directly with manufacturers from all over the country.
- With the help of this platform sellers and merchants can source fast-moving consumer goods (FMCG) and product categories directly from manufacturers at wholesale price.
- CoutLoot is originally a social eCommerce platform that enables sellers to build their own online stores.
Amazon Smbhav Entrepreneurship Challenge- Registrations Close on 15th April
- Amazon Smbhav Entrepreneurship Challenge is a platform for high potential startups to win cash prizes (upto Rs. 65 Lakhs), network, engage with mentors and gain exposure.
- India registered startups, from any sector and those that are less than 10 years old can apply.
- Additionally, their annual turnover in any financial year has to be less than Rs. 250 crores
- Top 25 applicants will be able to pitch their business to the jury panel. The winners of them all will be announced at the Amazon Smbhav Mega Summit.
Flipkart Invests $116 Million in Fashion Retailer Myntra
- A news not to be missed. Indian marketplace giant has pumped $116 million in its online fashion retail arm Myntra. This is as per Flipkart’s regulatory filings in Singapore.
- The new investment in Myntra is expected to be used to counter competition from number two fashion player- Reliance AJIO. Nykaa too, which has ventured into fashion, is expected to give Myntra a good fight.
Firstcry Looking to Raise $700 Million in IPO
- Firstcry.com, India’s top eCommerce platform for baby products, is aiming to file for an initial public offering (IPO) by the end of the month. They are expected to raise up to $700 million.
- TPG-backed Firstcry, led by founder Supam Maheshwari, has been profitable since the last financial year.
Meesho Plans to Launch Live Commerce by Year End
- Meesho is running over plans to commercially launch its live commerce business by the end of December.
- This is an initiative to include value-adding regional brands onto their site and in turn, boost Meesho’s revenue before they file for IPO early next year.
- Live commerce is a feature that enables sellers to create a live stream of the product(s) on sale. This enables customers to interact with the sellers in real-time.
International: Amazon adds 5% "Fuel and Inflation Surcharges" to Seller Fees
- Amazon.com is looking to offset the rising cost of fuel. To achieve this they have announced that they would now include a 5% “fuel and inflation surcharge” to the fees levied on third-party sellers on their site.
- These fees will be effective from April 28, 2022, and are “subject to change”.
- The surcharge is applicable to all categories- apparels and non-apparels.
E-Commerce Logistics firm Delhivery, Ecom Express, Xpressbees Hike Prices for Aggregators
- Delhivery, Ecom Express, and Xpressbees have increased shipment charges as much as 35-40% for all orders received via logistics aggregators such as Shiprocket, Pickrr, Shipyaari, and others.
- This hike was effective from earlier this month
- The absence of warehouses owned by aggregators makes the services provided by logistic firms crucial.
How Social Commerce Platforms are Tapping into India’s Hinterlands
- Social commerce has displaced the power of large corporations and brands; to content creators and D2C brands.
- It has brought aspirational and organic brands to smaller towns and cities.
- The non-urban consumers are fast changing their consumption behavior. They are cost-conscious yet have strong opinions on products.
How Purplle is Solving Beauty for Women in Tier 2 Cities and Beyond
- Purplle is a beauty brand that caters to women’s products.
- Since the beginning, their aim was to look (and reach) beyond the top 10 metro cities of India.
- They wanted to build a platform for women that were under-served. They bet on the fact that if touched, the segment would generate a large turnover.
Amazon Acquires Social Commerce Platform- Glowroad
- In order to enter the social commerce space, marketplace-major Amazon has acquired Glowroad for an undisclosed amount.
- Amazon’s rival Flipkart entered the space last year with Flipkart Shopsy.
- Glowroad was launched in 2017. The platform allows resellers to sell products on social networks like Facebook, Instagram, Whatsapp, etc.
Govt To Tweak Rules for eCommerce Portals
- Department of Consumer Affairs is in discussions to put into place a revised set of eCommerce rules.
- The rules are to enable algorithmic fairness in marketplaces. This will displace the priority given to products owned partially or wholly by marketplaces
- eCommerce rules were first implemented in July 2020 and amended in May 2021.
International: Chinese Shein Swells More Valuable than H&M and Zara Combined
- Shein has grown to become the world’s largest online-only fashion company. The company is known for their rapidly renewing collections, all at cheap prices.
- Despite not having any brick & mortar stores; the company has built its profits from social media platforms like Tiktok and Instagram.
- As per news agency Bloomberg, the Chinese clothing company has a market capitalization of around € 92 billion. This surpasses the market value of fast-fashion chain H&M and the Spanish Inditex behind Zara.
“Ginesys One”- India’s First Omniretail Suite, Launched
- Ginesys, India’s leading retail-POS solutions provider has upped its omni-channel game with the the release of “Ginesys One”.
- Ginesys One is India’s first Omniretail Suite. Browntape Technologies is proudly a part of the offering.
- Omniretail Suite includes the following- a retail POS systems, retail business analytics, MPOS for digital first retail, cloud retail ERP, personalised CRM and lifecycle management, eCommerce management, and cloud GST compliance solutions.
- Ginesys, Browntape, Zwing POS, EaseMYGST and CASA Retail are the company on-board this initiative.
Flipkart Marketplaces Introduce Policy Changes
- eCommerce giant Flipkart has announced industry-first changes for marketplace policies under Flipkart EDGE.
- Flipkart Edge helps to increase the ease of doing business for sellers & build an all-inclusive eCommerce ecosystem.
- Key features include: Fastest payment settlement cycle, 10-minute onboarding, guaranteed Returns on Investments (ROI) on ads, and more.
Browntape at the Retail Leadership Summit 2022
Ginesys One was launched formally at the Retail Leadership Summit which took place on 27th & 28th April. Venue: The Westin, Powai Lake. Of course, we as a part of India’s first Omniretail Suite, participated. Here is a glimpse from the event.
E-Commerce Sector to Drive Electrification of Fleet in India
- Today, the eCommerce market in India deploys around 1 million electric vehicles (EVs) in its fleet. These include two and three-wheelers vehicles.
- As per reports by the World Business Council for Sustainable Development (WBCSD), the usage is not just for last-mile delivery but also for long haul transport (daily coverage of 150-250 kms)
- eCommerce companies like Flipkart, Myntra, Zomato and more, have already committed to EV.
Flipkart Opens Logistics Arm to Other eCommerce Firms
- Flipkart has opened up its internal logistics arm Ekart to other eCommerce firms, as per Flipkart’s Group CEO Kalyan Krishnamurthy.
- Ekart has already added around 30 clients to their service.
- In the coming months, companies like Nykaa, FirstCry could deliver their products via Ekart.
Couldtail Shuts Shop in India; Employees Absorbed by Amazon
- Amazon’s largest seller Couldtail India, is shutting shop on May 1, 2022. Cloudtail was formerly a joint venture between the eCommerce giant and Catamaran Ventures.
- Amazon India will now onboard over 1000 employees from Cloudtail’s parent company, Prione Business Services.
Havas Launches its Global eCommerce vertical in India Combined
- Havas Media Group (HMG), a conglomerate of Havas Group India, has launched “Havas Market” on 25 April 2022.
- Their aim is to provide a meaningful shopping experience to their customers and generate incremental business for e-retailers.
- Havas Market was launched globally in October 2020.