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Quick commerce boom: A look at top developments in rapid delivery space
India's quick commerce sector is seeing a surge in competition with major players like Amazon, Flipkart, and Ola planning to enter. Established names such as Blinkit, Zepto, and Swiggy's Instamart continue to expand. New investments and leadership changes mark this dynamic industry's rapid growth.
India's ecommerce payments to surge by 23.8% in 2024: GlobalData
GlobalData's E-Commerce Analytics highlights that the value of India's e-commerce market is projected to rise from Rs 12.2 trillion (USD 147.3 billion) in 2024 to an impressive Rs 24.1 trillion (USD 292.3 billion) by 2028. This translates to a compound annual growth rate (CAGR) of 18.7 per cent, underscoring the sector's expansion over the next few years.
ETtech Exclusive: Amazon India set to launch quick commerce as competition swells
Amazon has put together a plan to take on the quick commerce challenge in India, with its own offering which is slated to launch by early next year. The India unit of the etailer has handed over the responsibility of building its quick commerce strategy to senior executive Nishant Sardana as part of a rejig of the top leadership.
Amazon launches AI assistant ‘Rufus’ in India
Amazon has launched AI assistant Rufus for customers in India, which will help shoppers get product recommendations, compare customer responses etc. It is available in beta mode for now. It was rolled out to all customers in the US in July.
Exclusive: Temasek in talks for up to $150-million bite of Rebel Foods
Temasek, Singapore's sovereign wealth fund, is in advanced talks to lead a $100-150 million investment in Rebel Foods, the parent company of brands such as Faasos and Behrouz Biryani, sources said. Started in 2011 by Jaydeep Barman and Kallol Banerjee, the company plans to go public in the coming 1-2 years.
Gig worker demand set to rise 40% during festive season peak
As the festive season kicks in, the demand for gig work riders employed by quick commerce platforms may grow by as much as 40% on peak demand days from the current level of about three to four lakh riders, industry executives told ET. Ecommerce and food delivery platforms may hire about 20% more gig riders.
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Piyush Goyal isn't happy with online shopping boom, warns India will become a country of couch potatoes
Union Minister Piyush Goyal expressed concerns about the rapid growth of e-commerce in India, citing its potential to encourage a sedentary lifestyle. He highlighted the need for a balanced approach, considering its impact on traditional retail businesses and employment. Goyal also raised issues related to predatory pricing and market disruptions by major e-commerce players.
Festive season begins with a bang: quick commerce sees jump in sales
Blinkit and Zepto saw increased sales and expanded their product ranges for the festive season, targeting doubled SKUs for Diwali. With significant sales spikes for Rakshabandhan, the platforms also emphasised discounts and international orders. Mumbai-based rival Zepto said it aimed to deliver 3.5 million orders in the three days leading up to Rakshabandhan.
Walmart’s Q2 international sales growth powered by Flipkart, other markets
Walmart's Q2 FY25 saw significant international growth driven by Flipkart and operations in China and Mexico. Walmart recorded nearly $30 billion in net sales from international markets, a YoY growth of 8.3%. Operating income came in at $1.4 billion.
Hero Vida V1 Plus now available on for up to Rs 29,000 discount on Amazon & Flipkart. Check details
Hero Motocorp's Vida V1 Plus electric scooter had been offered at a significant discount on Flipkart and Amazon. Discounts varied from Rs 25,000 to Rs 29,000, lowering the price to approximately Rs 91,000-94,000. Key features included a 143 km range, 6000 W power from a 3.4 kwh battery, and warranties for 5 years or 50,000 KMs.
Flipkart's quick commerce service 'Minutes' goes live in Bengaluru
Across areas like Belandur, HSR, Flipkart Minutes is delivering grocery, electronics, smartphones and other products within 8-16 minutes. This marks Flipkart’s formal entry in quick commerce taking on Swiggy’s Instamart, Zomato’s Blinkit, Zepto and BigBasket’s BB Now.
Tata Digital stitching ‘value fashion’ plan under its Cliq brand
Tata Digital, the ecommerce arm of the Tata conglomerate, is in talks to develop a budget fashion line on its Tata Cliq platform to take on industry competitors Flipkart, Amazon India, and Reliance Ajio. While the company has Zudio in that category, sources said that brand is likely to stay offline only and there are no plans to take it on Neu yet.
Ecommerce sales up 19% YoY in mid-year sales week of July 19-25
The health & nutraceuticals segment grew 78%, FMCG and agriculture 48% and beauty and personal care grew 21%. Major rival Flipkart had its Greatest of All Time (GOAT) sales from July 20 to July 25, while fashion and beauty marketplace Nykaa had its Hot Pink Sale between July 19 and July 28.
Flipkart consolidates fintech offerings into single vertical ahead of festive sales
Flipkart has integrated its various fintech services into a single vertical named ‘Flipkart Pay’. This new platform includes services like UPI, bill payments, insurance, and co-branded credit cards. The move follows recent expansions and a spinoff of PhonePe. Meanwhile, Amazon is also boosting its fintech activities, creating a more competitive payments market.
At zero dark 100, Flipkart to fire up quick commerce in festive season
Flipkart is set to open 100 dark stores before the Big Billion Days sale, entering the quick commerce arena. Competition with Zepto, Blinkit, and Swiggy Instamart intensifies during the festive season. Quick commerce growth expected to drive demand with focus on fast deliveries and expanded product offerings.
Flipkart in Q-fest; AI upskilling
Happy Monday! Flipkart has upped the quick commerce ante ahead of crucial festive season sale. This and more in today’s ETtech Morning Dispatch.
Ecommerce charts sedate sales growth as post-Covid frenzy settles
Experts predict a significant sales boost in the upcoming festive season, despite challenges faced by newer customers and shifting spending patterns among premium buyers. However, they said the industry faces some challenges.
Online discounts to rain heavy from July, ease dry spell of electronics, apparel cos
Brands are gearing up for a surge in online discounts and promotions starting this month, aiming to clear unsold inventory ahead of the festive season. Expectations are high for the discounts to be the steepest since Covid-19, particularly in categories like smartphones, electronics, and apparel, which have faced sales pressure in the first half of the year. Multiple sales events are planned by marketplaces like Amazon and Flipkart, including Prime Day and Independence Day sales, extending till Diwali.
How capital surge may fuel discount war in quick commerce space
The $665 million funding round at Zepto may trigger a discounting war among players like Blinkit, Instamart, and Flipkart. Blinkit faces increased competition in logistics infrastructure as the quick commerce market heats up.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates precisely, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasising the need for speed in the entire process.
Too hot, too good for e-tailers: ACs, ice creams and beauty products' online sales enjoy the heatwave
Consumers are increasingly turning to online shopping for a variety of products like air conditioners, beauty products, and snacks as heatwaves prompt them to stay indoors, especially during peak afternoon hours. Brands like Voltas and Panasonic have witnessed significant growth in online sales, particularly in the AC category. E-commerce platforms are seeing a surge in demand for large purchases like ACs and coolers, with quick commerce becoming popular for daily essentials. Companies like Parle, Mother Dairy, and Baskin Robbins are experiencing a boost in online sales.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
Startup layoffs in 2024: Ola Electric, Byju’s, Flipkart among firms shedding jobs
Indian startups and large new-age companies have been cutting down their workforce since the beginning of this year.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
Prathyusha Agarwal to head Flipkart's Shopsy
Prathyusha Agarwal has joined Flipkart as vice president (VP) and head of Shopsy, a spokesperson for the firm confirmed to ET. She was previously the chief business officer of edtech firm Byju’s, with earlier stints at Zee Entertainment, Tata Cliq and Unilever.
iPhone 14 vs iPhone 14 Plus on sale: Which Apple smartphone should you buy at Flipkart’s discounted price?
Flipkart is offering the iPhone 14 and iPhone 14 Plus at the same surprising price of Rs 58,999, which is a significant discount from Apple's official prices. Normally, the iPhone 14 sells for Rs 69,900 and the iPhone 14 Plus for Rs 79,900. This limited-time offer presents a great opportunity for buyers. The iPhone 14 features a 6.1-inch screen, while the iPhone 14 Plus has a larger 6.7-inch display.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
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