E-commerce Market

Product inflation and soaring shipping costs are making the service unsustainable as the prospect of recession threatens to wallop already-flagging online spending

Quick commerce fastest-growing consumer technology industry in India, he says

India's e-commerce market is estimated at $50 billion in 2022, and is expected to grow to more than 25 per cent per annum to reach $150-170 billion by 2027

Also calls for greater cooperation among enforcement agencies of member countries

Beauty and fashion e-commerce firm Nykaa has recorded a 75 per cent growth in gross merchandise value and a 12-fold jump in revenue on Day 1 of its Pink Friday sale, the company said on Friday. The company said that it recorded over 400 orders per minute on the first day of the sale which started on November 21. "Nykaa Pink Friday Sale has delivered a 75 per cent growth in GMV compared to the previous year. With over 400 orders recorded every minute on Day 1 this year, the total order volume reached 8 lakhs," Nykaa spokesperson said. The sale will be live until November 28 on its website, app and Nykaa stores. The number of visitors on Day 1 of Pink Friday grew by 37 per cent to 10 million, the company claimed. "A slew of unmissable brand offers led to Nykaa clocking a growth of 34 per cent in unique visitors from 4.3 million on last year's Day 1 to 5.8 million this year. Among categories that did well compared to regular days, purchases of make-up, skincare and haircare rose ...

Here is the best of Business Standard's opinion pieces for today:

Govt should address consumer complaints, not monitor product reviews

According to sources, the e-commerce companies will also be asked to remove unverified buyers and reviewers, and on failing to do so, action will be taken against them

This is about 25 per cent year-over-year growth as compared to festive sale month of CY2021

Under the new UP Textile and Garment Policy 2022, the state has announced a host of incentives and subsidies for aggressive offline and online marketing and promotion of Khadi in India and abroad

Top-3 sectors, namely, 3PL, e-commerce, and manufacturing & automotive, account for a 78 per cent share of warehouse leasing space across seven cities

India's largest business-to-business e-commerce firm sacked 180 employees in June

Brands to be manufactured in tie-up with SMEs; 52 products launched under home cleaning, personal hygiene, pantry staples, and male grooming so far, more categories in two years

The company will use the financing to improve its technology and expand its business

The demand for gig workers is, however, not restricted to tier-1 locations. Tier 2 and tier 3 cities have seen an increase of 40 per cent, with a higher demand for delivery workers

The fresh-food category, witnessed a surge in demand, especially from tier-2 and -3 cities

Amazon India has witnessed a significant demand for services from Tier-1 and Tier-2 regions for its flagship sale event

For the first 4 days, an estimated Rs 11,000 crore worth of mobiles were sold from the large e-commerce players - In terms of units, 60-70 lakh mobiles were sold in the first 4 days

Companies such as Flipkart, Amazon, Meesho and Myntra are gearing up to host their biggest festive sale events without covid restrictions for the first time in three years

Flipkart's flagship event The Big Billion Days will start on September 23 and will go on until September 30