Retail | Business Upturn

TVS Electronics Gold Prime Bharat keyboard shows odd misalignment in alphabet printing

Smriti Jaisinghani — Mon, 24 Nov 2025 17:59:34 +0000

A customer who purchased the TVS Electronics Gold Prime Bharat keyboard from Amazon has shared a detailed social media post drawing attention to an unusual issue in the specific unit received. The Made in India model is known for its sturdy construction and full-size layout.

The customer has pointed out that many of the alphabet characters on the delivered keyboard appear misaligned with some printed on the top, some below, some towards the right and some towards the left. This makes the multi directional printing on this particular piece look visually uneven.

The customer wrote on social media: “Received my new TVS Electronics Gold Prime Bharat keyboard from Amazon today and noticed an unusual issue in the printed alphabets. The characters on many of the keys are misaligned with some printed on top, some below, some towards the right and some towards the left. It puts a strain on the eyes while typing and the anomaly is irritating. The keyboard costs more than three thousand rupees, so this has come as an unpleasant surprise. The product works fine but the visual inconsistency stands out and I am now stuck with this piece since Amazon does not have an exchange facility on this. It only has a ten days Service Centre Replacement. This means if I need to do something about it, I will have to find out where the service centre is and travel to it with my complaint and all this just for a keyboard. Quite a painful thought that.”

The shared image posted by the customer shows certain alphabets positioned higher or lower than others with a few slightly tilted or placed more towards one side. This results in an irregularity in the visual presentation of the keys.

The statement focuses solely on the user experience with this delivered piece without making assumptions about the rest of the product range or the company’s overall quality control. The customer has clarified that the keyboard functions work fine and that the concern raised relates only to the printed character alignment on this unit.

The customer also noted that the ten days Service Centre Replacement option means physically locating and travelling to a service centre for any possible resolution. The post mentions that this feels inconvenient for a keyboard priced above three thousand rupees.

Rihanna’s Fenty Beauty and Fenty Skin debut in India via Sephora and Tira

Aditya Bhagchandani — Mon, 04 Aug 2025 07:55:15 +0000

Rihanna’s globally acclaimed beauty brands, Fenty Beauty and Fenty Skin, are officially launching in India on August 7, 2025. The expansion marks a significant entry into the Indian beauty market through partnerships with Sephora India and Reliance Retail’s Tira Beauty.

The brands will be available both online and offline—across over 50 stores in 16 cities and via e-commerce platforms Sephora India and Tira Beauty. The launch brings Fenty’s signature inclusive product range, including foundations in 50+ shades and clean, vegan skincare, to Indian consumers for the first time.

The rollout will be supported by LUXASIA, a key omni-channel distributor across Asia.

“This launch underscores our commitment to making the world’s best global brands available to Indian consumers,” said Isha Ambani, Director at Reliance Retail Ventures Ltd.

Guillaume Motte, Global President and CEO of Sephora, added that the partnership is set to redefine the beauty experience in India by igniting a new era of exploration and inclusivity.

This development further strengthens Reliance Retail’s footprint in the premium beauty space, building on recent launches and strategic brand partnerships.

V-Mart Retail Q4FY25: Net profit at Rs 18.5 crore vs Rs 38.9 crore loss YoY; Revenue rises 17% to Rs 780 crore

News Desk — Fri, 02 May 2025 09:33:45 +0000

V-Mart Retail Limited reported a financial turnaround in FY25, posting a net profit of ₹45.77 crore for the full year ended March 31, 2025, compared to a loss of ₹96.76 crore in FY24. The company’s revenue from operations for the year stood at ₹3,253.86 crore, up 17% from ₹2,785.60 crore in the previous year.

Q4FY25 Performance (YoY and QoQ):

In the fourth quarter ended March 2025:

Revenue from operations rose 17% YoY to ₹780.08 crore, from ₹668.60 crore in Q4FY24.
Net profit for the quarter came in at ₹18.51 crore, compared to a loss of ₹38.92 crore in the same period last year.

However, on a sequential basis, revenue declined from ₹1,026.73 crore in Q3FY25, and net profit also dropped from ₹71.63 crore in the previous quarter, indicating seasonal moderation post the festive quarter.

Full-Year FY25 Overview:

Revenue: ₹3,253.86 crore (up 17% YoY)
Net Profit: ₹45.77 crore vs loss of ₹96.76 crore in FY24

The turnaround in FY25 highlights improved operational efficiency and better inventory management, amid steady recovery in discretionary retail demand.

Government directs sugar mills to curb Ethanol production to ensure adequate sugar supplies

Mahita Jain — Thu, 07 Dec 2023 11:37:19 +0000

The Department of Food & Public Distribution (DFPD) utilizes its authority under the Essential Commodities Act of 1955 to oversee the production, sale, and stock levels of essential commodities, including sugar, in India. With the goal of maintaining a consistent and stable sugar supply for domestic consumption, the DFPD exercises control through the implementation of the Sugar (Control) Order of 1966, asserting authority over key facets of the sugar industry.

Recently, in a move invoking clauses 4 and 5 of the Sugar (Control) Order 1966, the government directed all sugar mills and distilleries to refrain from using sugar cane juice/sugar syrup for ethanol production during the Ethanol Supply Year (ESY) 2023-24. This directive, effective immediately, aims to manage the utilization of sugarcane resources for ethanol production, focusing on sustaining sugar availability in the local market. It is essential to note that the supply of ethanol derived from existing offers received by Oil Marketing Companies (OMCs) from B-Heavy molasses will continue unaffected by this directive.

The decision to restrict the diversion of sugar for ethanol production has triggered notable repercussions in the stock market, particularly impacting sugar-related stocks. In Thursday’s trading session, sugar stocks experienced a decline of up to 7 percent. Uttam Sugar Mills Ltd bore the brunt of this development, witnessing a sharp drop of 7.27 percent to Rs 413.20, making it the worst-hit sugar stock. Other prominent sugar stocks, including Dalmia Bharat Sugar and Industries Ltd, Balrampur Chini Mills Ltd, Dwarikesh Sugar Industries Ltd, Triveni Engineering, Shree Renuka Sugars, Dhampur Sugar Mills Ltd, and Bajaj Hindusthan, also saw negative trends in their share prices.

The government’s aim, as per reports, is to bolster sugar production in light of potential challenges arising from below-normal rainfall in key sugarcane-growing states. The reported plan involves advising sugar mills against using sugar cane juice and B-heavy molasses— a byproduct known for its higher sucrose levels— for ethanol production.

While the government sources cited in Reuters suggest that this decision is driven by the need to prioritize sugar production this year, another report from Times NOW, quoting sources, contradicts the notion of a proposal under consideration to cut ethanol production. According to these sources, the government remains committed to achieving a 20 percent ethanol blending target by 2025. This conflicting information raises questions about the government’s long-term strategy in balancing ethanol production for fuel purposes and ensuring an ample supply of sugar for domestic consumption.

Difference Between Retail & Online Arbitrage

News Desk — Tue, 22 Aug 2023 12:03:16 +0000

If you’ve ever thought about starting a business on Amazon, you’ve probably come across the terms “online arbitrage” and “retail arbitrage.” These two methods are highly popular for sourcing products and reselling them at a profit, but they differ in some aspects.

Online arbitrage involves finding products from online retailers or e-commerce platforms, while retail arbitrage requires sellers to source products from physical stores, allowing for a more hands-on approach. Both methods have their advantages and challenges. In this article, we will discuss the difference between retail arbitrage and online arbitrage to determine which works better in 2023.

What is Online Arbitrage or OA?

Online arbitrage is a clever way of making money by finding great deals online and selling those products for a higher price. It’s like being a savvy shopper who knows where to get the best discounts and reselling those items for a profit.

Imagine browsing online and coming across a popular smartphone accessory, like a phone case, on sale for $5 at an online store. You notice that the same phone case is sold for $15 on a popular e-commerce platform like Amazon. This is where online arbitrage comes into play. You decide to buy the phone case and list it for sale on Amazon. When someone buys the phone case from your Amazon listing, you make a profit of $10 (minus the fees and other expenses).

The beauty of online arbitrage is that you can do it from the comfort of your home with just a computer and an internet connection. It’s a flexible way to make extra income, especially for those who enjoy finding good deals and want to turn their bargain-hunting skills into a money-making venture.

Pros & Cons of Online Arbitrage

Like any business strategy, online arbitrage has its own advantages and challenges. Let’s explore its pros and cons:

Pros:

Flexibility: Can be done from anywhere with an internet connection.
Wide Product Range: Access to various online retailers’ diverse range of products.
Lower Startup Costs: Requires relatively low initial investment and overhead expenses.
Minimal Physical Storage: No need to handle physical inventory; products can be sent to fulfillment centers using Amazon FBA.
Scalability: Easy to expand and increase profit potential.

Cons:

Increased Competition: Higher competition for profitable deals.
Requires Research and Analysis: Requires thorough research to find lucrative opportunities.
Fluctuating Margins: Prices may change frequently, affecting profit margins.

What is Retail Arbitrage?

Retail arbitrage is a similar business strategy where sellers source products from physical retail stores at a lower price and then resell them for a profit through online marketplaces. The concept revolves around finding products with significant price discrepancies between different retail locations and leveraging these opportunities to buy low and sell high.

Imagine you visit a local discount store known for its clearance sales. While browsing through their inventory, you come across a set of branded kitchen utensils on sale for just $5. These utensils are of good quality and typically retail for $15 at regular kitchen supply stores. Recognizing the opportunity for retail arbitrage, you purchase and list the product online through a popular e-commerce platform like Amazon. When someone buys the product, you make a profit of $10 (minus fees and other expenses).

Retail arbitrage often requires a keen eye for spotting undervalued products and effective management of inventory and pricing to maximize profitability.

Pros & Cons of Retail Arbitrage

Retail arbitrage offers an accessible entry point for beginners with lower startup costs. However, it has its own advantages and challenges:

Pros:

Immediate Product Inspection: The ability to physically examine products before purchasing reduces the risk of receiving low-quality items.
Unique Item Potential: Possibility of finding rare or exclusive products not readily available online, offering niche market opportunities.
Personal Connections: Building relationships with local store owners may lead to special deals or discounts, boosting profit potential.

Cons:

Time-consuming: Requires visiting physical stores, which can be a time-consuming task.
Limited inventory: Selection in physical stores may be more limited than in online marketplaces.
Storage and logistics: As inventory grows, managing storage and shipping logistics becomes more challenging. You can solve this by using Amazon FBA and shipping your inventory directly to a fulfillment center.

Key Differences Between Online & Retail Arbitrage

Although similar in concept, online and retail arbitrage have differences that might help you determine the ideal business model. Here are the main differences between OA and RA:

1. Sourcing Locations

Online arbitrage relies on the vastness of the internet, allowing sellers to find deals from multiple online stores, while retail arbitrage requires physically visiting brick-and-mortar stores to discover opportunities in person.

2. Location Independence

Online arbitrage offers flexibility, allowing sellers to work from home or while traveling, but retail arbitrage requires being physically present at store locations.

3. Product Range

Online arbitrage provides a broader selection of products for sourcing, increasing the potential for finding profitable deals in various niches.

4. Product Inspection

With online arbitrage, sellers rely on product descriptions and images provided by online retailers, whereas retail arbitrage enables them to examine the quality and condition of products firsthand.

5. Time and Effort

Online arbitrage demands time for online research and analysis of price discrepancies, while retail arbitrage necessitates effort spent visiting multiple stores in search of profitable opportunities.

6. Shipping and Logistics

Online arbitrage sellers must consider shipping logistics when sourcing products from various online retailers. In contrast, retail arbitrage sellers avoid this concern since they can carry purchased items directly from physical stores. Both OA and RA sellers can use Amazon FBA, which frees them of many daunting tasks like picking, packing, shipping, handling returns, customer service, etc.

7. Competitiveness

The growing popularity of online selling platforms has increased competition in online arbitrage. In contrast, the level of competition in retail arbitrage can vary depending on the stores’ locations and the products available in those areas.

8. Tools Used by Sellers

Online arbitrage relies on digital tools like product research software, price trackers, and inventory management systems. On the other hand, retail arbitrage sellers use tools like smartphone apps for barcode scanning and notebooks for manual record-keeping.

Which One is Better in 2023? OA or Retail Arbitrage?

Online arbitrage is favored by those who appreciate the flexibility of working from anywhere with an internet connection, the access to a wide range of products available from online retailers, and the convenience of managing the whole business digitally. It also allows for automated processes and data-driven decision-making through various online tools.

On the other hand, retail arbitrage is preferred by individuals who enjoy the excitement of physically searching for deals in stores, the ability to inspect products before purchasing, and the possibility of finding unique or rare items not readily available online.

Ultimately, the choice between retail and online arbitrage comes down to personal preferences, resources, and the individual’s specific goals.

Conclusion

Both online and retail arbitrage offer excellent opportunities to make profits. Each method has its strengths and challenges, and there’s no clear winner. Success comes from adapting to the chosen method and being willing to learn and grow. So, whether you prefer digital deals or exciting store hunts, both paths can lead to financial success.

Reliance Consumer expands FMCG brand ‘Independence’ across north India

Adesh Dixit — Wed, 21 Jun 2023 12:36:47 +0000

Reliance Consumer Products Limited (RCPL) which is a subsidiary of Reliance Retail Ventures has announced the expansion of its Fast-Moving Consumer Goods (FMCG) brand ‘INDEPENDENCE’ across North India.

Products under the brand include edible oils, grains, pulses, packaged food and other items for daily needs. Reliance Consumer initially launched the brand in Gujarat and received a positive response towards the quality of products at an economical price.

In its statement, Reliance Consumer stated, ‘INDEPENDENCE’ products are now available to consumers across Punjab, Haryana, Delhi NCR, Uttar Pradesh, Bihar and Uttarakhand.

It also highlighted that Reliance Consumer and its brand ‘Independence’ will offer a large section of Indian population with dependable consumer goods with high quality and affordable pricing. RCPL will also be collaborating with trade partners and store owners and also aims to expand the network of the brand across more states through both offline and online medium.

The brand is part of Reliance Retail ventures which owns over 18,040 stores across the country that includes Reliance Smart Bazaar (previously known as Big bazaar), Reliance Trends, Reliance Digital among others and operate e-commerce platform like Ajio.

Raymond demerges lifestyle business Raymond Consumer Care to create a listed organization

News Desk — Thu, 27 Apr 2023 13:21:21 +0000

Raymond Ltd., an Indian branded fabric and apparel store, announced on April 27 that it will be demerging its lifestyle business to Raymond Consumer Care to form a listed organization with an exclusive concentration on the B2C lifestyle business.

The enterprise comprises a garment company and a B2B shirting subsidiary, in addition to a suiting business that operates manufacturing facilities, B2C B2C shirting, branded clothing, and B2C B2C shirting.

The Raymond firm, which is presently publicly traded, will focus mostly on the real estate industry but will also have stakes in the engineering and denim industries.

Raymond Ltd. owns 47.66 percent of Raymond Consumer Care, while promoter groups have 49.68 percent of the company and the public has 2.66 percent of the company’s shares.

“This corporate action has been initiated with the sale of the FMCG business under RCCL Raymond Consumer Care to Godrej Consumer Products for a consideration of Rs 2,825 crore,” the firm said in a filing with the exchange.

Following the completion of this demerger, Raymond Limited, the primary parent company of Raymond Consumer Care, will no longer have any outstanding debt, which, according to the statement, will make it possible for the firm to become an independently listed organization.

“At the promoter level, we continue to remain committed, and the efforts have been demonstrated by infusing funds generated from the monetization of assets,” said Gautam Hari Singhania, Chairman, and Managing Director of Raymond Limited. “The funds have been demonstrated by infusing funds generated from monetization of assets.”

From this point forward, each shareholder of Raymond Limited will, upon the listing of the latter company, be entitled to receive 4 shares in Raymond Consumer Care for every 5 shares held in Raymond Limited. According to the corporation, the share exchange ratio was advised by independent valuers KPMG and BDO in addition to a fairness assessment supplied by ICICI Securities.

Myntra welcomed British brand “Next” on its portal signaling entry to Indian markets

News Desk — Sun, 23 Apr 2023 14:57:34 +0000

Myntra, the fashion arm of Flipkart, recently welcomed the British brand Next onto its e-commerce platform, which coincided with the company’s official re-entry into the Indian market.

This is due to the fact that the fashion retailer intends to bring international names to the Indian market.

According to Jayanti Ganguly, who is in charge of the business from International Brands at Myntra, the assortment of international brands is fast expanding on the site as a result of an increase in customer demand for high-quality and traditional wardrobe staples.

Ganguly expressed his excitement about the partnership, saying, “We are excited to join forces with NEXT, one of the UK’s legacy fashion brands, and enable their pursuit in augmenting their reach in India.”

In India, Myntra works with more than 400 different international companies. The shop said in December 2022 that its selection of foreign brands had increased by more than sixty percent over the course of the previous two years.

Myntra’s app and all of its social media accounts will be included in the marketing efforts that are being undertaken in preparation for the debut of the brand on the e-commerce platform. Additionally, Next will provide a dedicated online brand store (OBS), which will assist customers in gaining a more streamlined understanding of the products and services provided by the brand.

A further enhancement would be the provision of a total of 500 stock-keeping units for both male and female employees.

In India, the company Myntra, which is a subsidiary of the Flipkart group, provides customers with access to more than 6,000 different fashion and lifestyle brands. Some of these brands include H&M, Levis, the United States Polo Association, Tommy Hilfiger, MANGO, Forever 21, Marks and Spencer, W, Biba, Nike, and Adidas, among others.

Tips for Saving Money on Your Grocery Shopping

News Desk — Thu, 15 Sep 2022 13:40:37 +0000

Saving money on groceries can be challenging, but it’s not impossible. This blog post will discuss tips to help you save money on your grocery bill and reduce expenses without making major lifestyle changes. So, if you want to save money on groceries, read on.

1. Make A Realistic Grocery Shopping List And Stick To It

One of the best ways to save money on grocery shopping is to make a realistic list and stick to it. This may seem common sense, but it’s amazing how many people go to the grocery store without a list and spend more than they intended.

If you make a list of what you need before you go shopping, you’ll be less likely to impulse buy and more likely to stick to your budget. Plus, it’ll save you time in the store since you’ll know exactly what you need to get.

2. Sign Up For Loyalty Programs

Another tip for saving money on grocery shopping is to sign up for loyalty programs at your local grocery store. This can help you save money in a few different ways. First, many stores offer loyalty members discounts on certain items each week.

Second, you can often earn points towards free groceries or other rewards simply by shopping with your loyalty card. Finally, many stores also offer exclusive coupons and deals to loyalty members. So if you’re not already a member, sign up the next time you’re at the grocery store.

3. Join A Wholesale Club

If you do a lot of cooking at home, then joining a wholesale club like Costco or Sam’s Club can help you save money on grocery shopping. You’ll be able to buy ingredients in bulk at a discounted price, and you can also take advantage of their member-only deals and coupons.

Don’t worry if the coupons come at a bad time of the month because you can always opt for payday loans to cover a grocery. Viva Payday Loans is an excellent example of a trusted lender you can find online — it offers instant loans with no hidden fees.

You can apply for a loan in just a few minutes, and the money you need will be deposited directly into your bank account.

4. Compare Prices Between Stores

Another way to save money on groceries is to compare prices between different stores. This can be a bit of a hassle, but it’s worth it if you can find significant savings.

To compare prices effectively, you’ll need to know the regular prices of the items you buy at each store. Keep a price book or use your phone to keep track of prices so you can quickly see which store has the best deal.

5. Buy Items On Sale

Buying items on sale can be especially helpful if you have a large family to feed. You can find sales at your local grocery store or even online, but it would be best to compare prices so you know you are getting the best deal.

Remember, the end goal is to save money, so don’t be afraid to ask the store manager if any deals or promotions are going on. They may be able to offer you a discount or even a rain check if the item is out of stock.

6. Take Advantage Of Coupons

One of the best ways to save money on grocery shopping is to take advantage of coupons. There are various ways to find coupons, such as online or in the Sunday paper. You can also find coupons in store flyers or at the checkout counter.

To make the most of coupons, match them up with sale items. Additionally, try to use coupons for items you normally purchase, so you’re not spending money on items you don’t need just because there’s a coupon available.

7. Batch Cook And Freeze Meals

Batch cooking and freezing meals is another excellent way to save on grocery bills. This way, you can cook larger quantities of food at once and then have meals ready to eat throughout the week or month.

Bottom Line

Saving money on groceries is a great way to free up some extra cash each month. Follow these tips, and you’ll be on your way to eating healthy while saving money at the same time. Also, don’t forget that you can always apply for a loan if you need some extra help.

Reliance Retail partners with Gap Inc. to introduce Gap to India

Dipankar Ray — Wed, 06 Jul 2022 12:34:45 +0000

On Wednesday, July 6, 2022, Gap Inc. and Reliance Retail Limited partnered for the long term to introduce the renowned American clothing company Gap to India. Moreover, Reliance Retail Limited is the largest retailer in India. It has been designated as Gap’s official retailer in India across all channels thanks to the long-term franchise deal. Through a combination of exclusive brand shops, multi-brand store expressions, and digital commerce platforms, it will introduce Indian customers to Gap’s most recent fashion offerings.

Also, Reliance India has planned to partner up with the American fashion giant to introduce the American lifestyle. As well as casual wear in Indian markets and provide a platform for it to grow in India. “At Reliance Retail, we pride ourselves in bringing the latest. And best to our customers and are happy to announce the addition of iconic American brand. Gap to our fashion and lifestyle portfolio. We believe that Reliance and Gap complement each other in their vision. To bring industry-leading fashion products and retail experiences to their consumers”. Hence, said Akhilesh Prasad, CEO, Fashion & Lifestyle, Reliance Retail Ltd.

“We look forward to growing the Gap business across key international markets. Partnering with regional experts, like Reliance Retail in India. Allows us to deliver our relevant, purpose-driven brand to customers around the globe. While continuing to diversify our business portfolio through our partner-based model”. Further, Adrienne Gernand, Managing Director of International, Global Licensing and Wholesale at Gap Inc.

Online apparel marketplace Zaffori ties up with UPS

Smriti Jaisinghani — Mon, 28 Feb 2022 17:18:00 +0000

A quick and safe delivery of its products is essential to any online business. That is precisely why the new online store Zaffori is leaving no stone unturned to ensure a great customer experience for the delivery of its clothing products.

A first-of-its-kind, Zaffori is a high-end apparel marketplace which provides a unique opportunity to shop customized clothing from some of the top fashion designers in the world. Every product purchased through the online marketplace is one-of-a-kind due to its tailor-made approach.

This makes Zaffori a premier platform in high-end fashion which caters personally to an individual with uniquely customized designer wear. It also offers free storage space for designers at its fulfillment center in New York, allowing them to have an immediate presence in the US market.

The firm has partnered with the world leader UPS to make the shipping process easier and efficient for the customer. Zaffori offers free shipping and delivery and free pick up for returns, in which its customers don’t even require to go to a physical UPS store.

This partnership helps build confidence among buyers as UPS is extremely reliable. It is one of the most trusted shipping companies worldwide and is known for its outstanding reputation. It is known to be quick, efficient, and accessible if help or assistance is required.

So what is the average time period customers can expect for delivery? According to Zaffori, once the product reaches its fulfillment center, it undergoes a quality control check. After this step, the product is shipped to the customer, which usually takes around three to five business days. All products are insured by Zaffori.

An Ecommerce Packaging Guide

News Desk — Sat, 23 Oct 2021 18:28:10 +0000

Developing the right packaging techniques that your online store will use requires attention to detail. Even the smallest decisions you make can add up to make or break your product packaging. When done properly, you can have a comprehensive packaging strategy that can benefit everyone involved including your customers and your entire team. While it certainly takes a lot of decisiveness and work, it doesn’t need to be rocket science. If you have a good grasp of your business, your product, and your audience – you should be able to come up with the optimal packaging in little time. Here are some of the best tips that you should integrate into your packaging strategy.

Knowing Your Product

One thing you should get started with is your product itself. You need to look closely at your product. Figure out what your product needs in terms of packaging. While you certainly need to know the weight and dimensions of it, you also need to know its durability. Is your product fragile? Does it have a weakness at a certain angle? These are the things you need to figure out to tell what kind of packaging would be best suited to providing ample support. Ensure you shore up any areas where your product could get damaged in transit. You can use bubble wrap, package pillows, or anything else to do this. You also want to figure out whether or not your product can get damaged due to exposure to extreme temperatures. If so, you may need to invest in insulating materials to ensure that the product gets delivered safely. Think of the worst-case scenario to ensure you are accounting for everything that can happen.

Choose The Right Shipping Carton

Not every shipment requires a cardboard box. Some shipments can do perfectly well with an envelope. These packing materials have become much more popular as they are lower cost and they take up less space. They can be very useful when you are shipping items that don’t take up a lot of space and that aren’t fragile. For instance, clothing or anything that cannot get damaged from being thrown around can be a good fit for bubble or package mailers. However, for any product that does require a box, you’ll want to ship in new boxes. New boxes will have the requisite support and they won’t have the wear and tear that reused boxes might have. This can ensure that the box remains fully intact throughout transit. Best of all, a new box will be presentable for your customer. This can help to contribute to a more pleasant buying experience.

It Doesn’t Need To Be Fancy

While you can certainly spend a lot of money on your product packaging and be rewarded for it, your packaging doesn’t have to be overly expensive. If you are just getting started and you are trying to scale on a budget, you’re not going to want to invest in branded packaging just yet. Take a look at the Gaylord Box Exchange. Simply opting for a traditional kraft box with a sticker logo can be a good way to reduce cost and still get your brand out there. It can also be a very clean-looking package for your customer. It’s also a good idea to create some stickers or a “thank you” card that you can package with any customer’s order. This can do wonders for improving your customer loyalty. You could also opt for custom packaging for any larger or more expensive products that you know you’ll want to present as well as possible.

Ensure It Looks Good

While you certainly don’t need to spend a fortune on custom packaging or anything like that, you still want to ensure it looks good. You want to get boxes that are clean not only because they will be more durable, but also because it’s a good way to create a positive first impression. You want to utilize clean boxes in your packaging and you may want to use water-activated tape as it will enhance the overall strength of the box. If you’re simply looking to save money on your packaging, it doesn’t mean you should be reusing dirty and old boxes. By opting for simple, clean, and new boxes – you can save money while presenting your brand properly.

Don’t Ship Air

One of the keys to e-commerce shipping is shipping in a box that is properly sized for your product. If you ship in boxes that haven’t been properly fitted, it’s not only going to cost you money, but also time and hassle. You want to purchase boxes that are close enough to the size of your product. This can keep you from having to fill your box with too many packing materials. Another good tip is to get a lot of multi-depth boxes. These boxes have little groves that allow you to fold the box down to different sizes to accommodate various-sized products conveniently. This can save you money on corrugated boxes and it can minimize the supplies you need to get. It can also be a better way to impress your customers with proper fitting boxes. By shipping out boxes that are too large, you will only show your customers that you don’t care about how the product gets to them. The larger the box, the more likely it gets damaged during shipping.

Send Appreciation

This is a good way for you to stand out within the marketplace. Every customer wants to be appreciated. They want to feel like they matter. Even the smallest things can go a long way when it comes to showcasing your appreciation. While it may seem simple and inconsequential, sending a “thank you” card that’s been handwritten and signed can bring a smile to your customer’s face. Even more, it can help to secure them as a customer in the future. It costs more to acquire a new customer than it does to sell more to an existing customer. Consider adding something small or even offer future discounts to get them to come back for more. This can help them feel appreciated and increase the chances of turning them into a repeat customer at the same time.

Seal The Package Properly

When you are looking to send out a product, you need to be certain that you are doing it properly. A lot of e-commerce stores end up getting this wrong. It may seem simple, but you need to do this with attention to detail. By sealing the box up properly, it will not only ensure that the box doesn’t get tampered with, but it ensures that the product gets to the customer safely. You don’t want to cheapen out when buying tape. Discounted tape isn’t going to save you money when your product is arriving damaged and you’re left with having to replace it. You want to invest in a quality tape that has good reviews. You also want to choose the right tape. Consider whether or not the package needs security and privacy. If so, you may want to opt for water-activated tape or even tamper-evident tape for the best protection.

Look At The Address

When you are shipping items out, you need to ensure that you are looking over the address. You will find some customers make errors when typing their address. Verify that the customer’s address is right to ensure that there are no shipping delays or problems. It can inconvenience the customer and cost you money.

Ship Promptly

When you are shipping out products to customers, you need to be prompt. This is especially true if you are shipping out perishable items. Ideally, you want to stick to shipping packages out anytime from Monday to Wednesday. This is especially true if you are shipping with Next Day Delivery. This can ensure that your products arrive as quickly as possible. If the item is expensive or if the customer is a valuable one for your business, it may even be worth the extra cost to ship it out with expedited shipping.

Always Follow Up

One of the biggest mistakes a lot of e-commerce stores end up making is not communicating with their customers after the order is placed or after the customer receives their order. There are several things you should be doing after the transaction is complete. For one, you want to ask for feedback. This can help to provide social proofing on your site and it can help you identify issues that need addressing. Also, it can assure the customer that you care about their experience which can improve the chances they do repeat business with your company. Showing you care can go a long way towards garnering customer loyalty.

Apple reveals a polishing cloth priced at ₹1,900/- Check how Netizens react

Ayisha Farah — Wed, 20 Oct 2021 14:00:25 +0000

Apple’s event on Monday witnessed the tech giant revealing a new product to its lineup: a Polishing Cloth. The cloth, made out of “soft, non-abrasive material,” is available to purchase at Apple’s store, but only if you are ready to pay ₹ 1,900.
While the Polishing Cloth comes with Apple’s signature logo in one corner, it’s not instantly clear how different it is from other microfiber cloths in the market sold at a fraction of the price.

For example, premium microfiber cloths are valued at around $1.50 each on Amazon. According to a Bloomberg report, this places Apple’s polishing accessory (which sells for $19 in the US) in the running for its highest-margin physical product.

Apple states that its latest accessory will “safely and effectively” clean any Apple display. According to the company’s listing on its online stores, it is compatible with nearly all Apple products, which includes iPhones, iPads and MacBooks. But while the Polishing Cloth is already in low supply, needing three to four weeks to ship in specific parts of the world, opinions on social media were less than impressed with the latest product.

Many criticised Apple for overpricing the accessory.

Are you kidding me? @Apple

2000 INR for a cloth? You guys are mad pic.twitter.com/j01UpIYDil

— Pawan Kumar (@imthepk) October 19, 2021

Apple’s Polishing Cloth Released
For drying your eyes when you see new Mac Books starting at ₹ 194900 .#AppleEvent #apple pic.twitter.com/81fQhoCO8t

— Anuj (@ursanujofficial) October 20, 2021

https://twitter.com/wani_sahil_/status/1450380153922600961?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1450380153922600961%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ndtv.com%2Foffbeat%2Fapple-is-selling-a-polishing-cloth-for-rs-1-900-and-the-reactions-are-pure-gold-2581602

https://twitter.com/nowaitmaybe/status/1450407027491098624?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1450407027491098624%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ndtv.com%2Foffbeat%2Fapple-is-selling-a-polishing-cloth-for-rs-1-900-and-the-reactions-are-pure-gold-2581602

“Apple has the audacity to sell a piece of cloth for $19” tweeted one user.

Others termed it as “peak capitalism”

peak capitalism might be this $19 Apple polishing cloth pic.twitter.com/f5vbRwe3fG

— Andrew Cunningham (@AndrewWrites) October 18, 2021

While others were amazed by Apple adding a compatibility list for the product

https://twitter.com/WinPhanKyle/status/1450237105528004611?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1450237105528004611%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ndtv.com%2Foffbeat%2Fapple-is-selling-a-polishing-cloth-for-rs-1-900-and-the-reactions-are-pure-gold-2581602

Apple really sells a $19 branded cleaning cloth, and lists out compatibility with every Apple product it can be used on. this is the future. pic.twitter.com/ISogtv8cNR

— fuju (@fuyutsukikaru) October 19, 2021

The launch of the product also launched a series of memes on Twitter

#ApplePolishingCloth #Apple
Pic 1 : Apple Launch something worth of just rs 1900
Pic 2 : its a piece of cloth to clean apple devices pic.twitter.com/PtxwQwve5Y

— Aman (@sainiaman038) October 19, 2021

Apple launches 1900 rs cloth to clean their Devices ..

Le My रूमाल.. pic.twitter.com/hTZa9KR8uH

— Super Commando “Jatt” (@sandybond001) October 19, 2021

https://twitter.com/nipfti/status/1450488410494226439?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1450488410494226439%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ndtv.com%2Foffbeat%2Fapple-is-selling-a-polishing-cloth-for-rs-1-900-and-the-reactions-are-pure-gold-2581602

Apple has a history of shifting price limits with its goods, with each new announcement provoking a slew of now-predictable jokes about its pricing. The iPhone was the first smartphone to infringe the $1,000 mark, according to Bloomberg. However, unlike the Polishing Cloth, Apple’s laptops and smartphones usually receive positive reviews for their features and abilities.

Petrol prices cut by Rs 10-15 paise across country, Diesel rates also dips

News Desk — Wed, 01 Sep 2021 05:12:06 +0000

On the first day of September, petrol & diesel prices have been reduced by 13-15 paise across metro cities like Delhi, Mumbai. After remaining unchanged for several days petrol is now retailing at ₹101.34 in Delhi, whereas diesel at ₹88.77. At Mumbai, petrol is being sold at ₹107.39 per litre, and diesel at ₹96.33 per litre.

In the city, Kolkata, petrol prices stand at ₹101.72 per litre and diesel prices at ₹91.84 per litre.

In Chennai, petrol is being sold at ₹99.08 per litre and diesel prices at ₹93.38 per litre. Last month, petrol prices were cut by ₹3 per litre in Tamil Nadu.

In April, after the state polls, Tamil Nadu finance minister Palanivel Thiaga Rajan said Presenting his maiden budget, that the tax cut on petrol would mean a ₹3 per litre reduction.

The territorial administration has cut value-added tax (VAT) on petrol by 3%, With the cut, the price of petrol was said to be reduced by ₹2.43 per litre in Puducherry and Karaikal regions, Said the Puducherry government.

Due to value-added tax (VAT), Fuel rates vary across the states. The difference in the state prices occurs because of local taxes like VAT or freight charges.

Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana are the states that levy the highest VAT on petrol and diesel in the country. To meet nearly 85 per cent of its oil needs India is dependent on imports and so benchmarks local fuel rates to international oil prices.

On Wednesday, the oil prices were stable. The major producers will decide on an OPEC+ meeting, whether to go ahead with their plan to add supply. The Organization of the Petroleum Exporting Countries (OPEC), Russia and allies, together called OPEC+ will decide together whether to stick with the plan to add 400,000 barrels per day each month through December.

Domestic LPG cylinder price hikes Rs 25; Check latest rate in your city

Shivya Kumar — Wed, 01 Sep 2021 05:06:27 +0000

According to reports, the price of LPG has come to a sudden surge of price yet again ₹25 apiece on Wednesday. After the increase in the rate of price now one domestic cylinder is said to be fixed at a price of ₹884.50 apiece in Delhi.

As far as the 19KG commercial cylinder is concerned its price has also lead to an increment of ₹75 per cylinder.

While in Mumbai the cost of 14.2 kg LPG cylinder is now ₹884.5 which was earlier being sold at ₹859.50. As per the reports, a cooking cylinder in Chennai is ranging around ₹900.50 which was earlier around ₹875.50 till yesterday.

The rates of LPG cylinder in UP have surged up to ₹897.5.

Total evaluation accounts that the total estimate of the increment from January 1 and September 1 has been risen by ₹190 each.
The subsidies have been removed by the government but they have been increasing the price of the LPG every month. The reason for disbanding subsides was the monthly increases. As per analysis, the price of domestic cooking gas has been doubled over the past seven years, while the retail price is conjured up to ₹410.5 per 14.2-kg cylinder.

Alongside the petrol and diesel prices are reduced down by 13-15 paise. The price of petrol in Delhi is ₹101.34 & in Mumbai, it’s ₹107.39/L. Diesel price in Delhi is now at ₹88.77 & in Mumbai, it’s 96.33/L.

Tomato prices dip to Rs 4 per kg in growing states amid supply glut

Sneha Sengupta — Mon, 30 Aug 2021 13:44:00 +0000

According to the latest government data, Tomato rates in the wholesale markets have significantly dipped to Rs 4 per kg despite the mushy oversupply of the produce. The wholesale rates in 23 areas with maximum tomato production witnessed a steep rise in prices (about 50 per cent) despite a flourished production against the three-year seasonal average scale. Tomato produce from the early Kharif (summer) season of the current year in between the months of July-June is already being harvested.

“Prices have come under pressure in key growing states because of the supply glut. The tomato crop has been good owing to favourable weather,” informed National Horticultural Research and Development Foundation (NHRDF) Acting Director P K Gupta to PTI.

The tomato production from the summer (early Kharif) season is estimated to be better than last year and farmers can be saved from falling prices if food processing companies come to their rescue, he said. No doubt, the favourable weather has helped boost the crop production, but farmers’ tendency to grow the crop the price of which was ruling higher at the time of sowing — has added to higher production, he added. “When production is higher, prices come under pressure,” Gupta added.

As per the stats, Madhya Pradesh’s Dewas, India’s largest tomato producing region, conferred tomatoes at just Rs 8 per kg with effect from August 28 of this year against the past Rs 11 per kg. Similarly, the wholesale market price of tomatoes at Karnataka’s Kolar, dipped to 5.30 per kg on August 28 against the previous crop season ranging from tomatoes at Rs 18.70 per kg. In Chickkaballapura tomatoes are priced at Rs 7.30 per kg in a similar quarter.

The improved situation of tomato production continues to augment in Andhra Pradesh too, the country’s second-largest tomato producing state, wherein the wholesale market price at Palamaner ranged at Rs 18.50 per kg, Madanpalle and Mulakalacheruvu situated in Chitoor district too witnessed a dense fall in prices.

Uttar Pradesh and West Bengal contiguously experience a sharp decrease in prices ranging at Rs 8-20 per kg and Rs 25-32 per kg respectively. According to the estimation by the Agriculture Ministry, India’s production of tomatoes saw a surge of 2.20 per cent to 21 million tonnes in the 2020-21 crop year (July-June) compared to 20.55 million tonnes in the previous year.

Gold, silver rates fall flat amid pandemic risks and geopolitical tensions

Vandana Nampoothiri — Thu, 26 Aug 2021 06:17:11 +0000

Multi Commodity Exchange of India’s (MCX) gold and silver rates dipped on Thursday in both Indian and international markets. Gold rates fell by 0.02% to Rs 47,170 per 10 grams while silver rates dipped by 0.15% to Rs. 63,175 per kg.

In the global market, gold rates fell by 0.1% to $1,788.17 per ounce. Gold rates dropped by 0.7% which is the biggest one-day fall in two weeks. Silver and platinum also dipped. Silver is currently priced at $23.85 per ounce, while platinum is $986.35.

The current price drops have been attributed to pandemic risks and geopolitical tensions. “While China has shown some improvement, the virus situation is still out of control, and restrictions to limit the spread are hampering economic activity. Mixed economic data from major economies highlights uneven recovery and the need for continuing with stimulus measures. “ Analysts at Kotak Securities said in a statement.

“Tensions relating to Afghanistan are high while market players are worried how global leaders may respond. Gold has slipped back below $1800/oz as market players position for the Jackson Hole Summit. However, we expect buying interest to emerge at lower levels amid persisting challenges for the global economy,” the brokerage further added.

Jackson Hole Summit will be held later this week by US Federal Reserve. Traders are hopeful that the central bank will announce new updates regarding its stimulus program.

Petrol prices in Tamil Nadu, Puducherry dips below Rs 100 after VAT reduction

News Desk — Thu, 26 Aug 2021 05:28:05 +0000

Puducherry government announced a tax cut in petrol prices on 25 August. The territorial administration has cut value-added tax (VAT) on petrol by 3 percent.

Providing some respite to consumers, the DMK government in Tamil Nadu cut petrol prices by Rs 3 per litre across the state. Diesel prices have been kept unchanged. The DMK, which swept to power in April, presented its maiden budget today. It has reduced the state taxes by Rs 3 in a bid to provide some relief from record-high fuel prices that have been burning a hole in commuters pockets.

The decision on the reduction was taken by Chief Minister N Rangasamy at a meeting of the territorial cabinet earlier and was approved by Lieutenant Governor Tamilisai Soundararajan, said an official press release. With the cut, the price of petrol would be reduced by Rs 2.43 per litre in Puducherry and Karaikal regions. Petrol currently retails at Rs 101.81 a litre and diesel costs Rs 92.73 in Puducherry.

The move is expected to cost the state exchequer Rs 1,160 crore annually. The Oil Marketing Companies have kept the rates unchanged for the 27th consecutive day today. Petrol prices have touched the three-digit mark in all major metros. Petrol in Chennai currently costs Rs 102.49 per litre while diesel retails at Rs 94.39 per litre. A large component of the fuel prices comprises central and state taxes.

Jewellers to go on strike on August 23 against mandatory gold hallmarking

Vandana Nampoothiri — Fri, 20 Aug 2021 13:03:30 +0000

All India Gem and Jewellery Domestic Council (GJC) said that jewellers across the country will go on a strike to protest against the “arbitrary implementation” of mandatory hallmarking of gold jewellery, PTI reported.

Over 350 associations and federations are expected to support the strike, according to GJC.

“The one-day token strike is our peaceful protest against the arbitrary implementation of HUID (hallmark unique identification number), which is impractical and unimplementable,” Ashok Minawala, ex-Chairman of GJC, told PTI.

Gold hallmarking, a process used to certify the purity of the gold, had been voluntary in nature. In June 2021, mandatory gold hallmarking came into force. For phase 1 implementation, the government identified 256 districts from 28 states and union territories.

Talking about the new HUID system, GJC Director Dinesh Jain said, “Currently, the new HUID system is taking almost 5 to 10 days to hallmark the products, resulting in a complete bottleneck and the industry is on standstill. Tonnes of jewellery is lying idle due to delays in the existing hallmarking process and BIS is simply adding fire to our anxiety instead of resolving issues.”

“It is estimated that yearly almost 10-12 crore gold jewellery pieces are manufactured in India. In addition, the existing stock of almost 6-7 crore pieces is yet to be hallmarked. This takes the total count of pieces to be hallmarked in a year to almost 16-18 crore pieces,” he further added.

As reported by Business Standard, according to the council, the penal and criminal consequences on the jewellers who have not manufactured or hallmarked the jewellery and sold it like a trader will eventually result in cancellation of registration and shutting down of the business.

Diesel prices dip by 20 paise, while Petrol remains same

Vandana Nampoothiri — Thu, 19 Aug 2021 05:50:21 +0000

Diesel prices in the country dropped for the second consecutive day on Thursday. In metropolitan cities like Mumbai and Delhi, the diesel prices were cut by 20 paise, bringing down the prices to Rs.97.04 and Rs 89.47 per litre respectively.

In Chennai, diesel price was cut by 18 paise. The current diesel price stands at 94.02 per litre. In Kolkata, it dropped by 25 paise, taking the new rate to Rs. 92.57 per litre.

Fuel prices in the national capital have remained unchanged since July 2021. Petrol sold at Rs 101.84 a litre. The base prices of petrol and diesel are Rs 41.24 and Rs 42 a litre respectively. The near 50 per cent increase in the selling prices is due to central and state duties, and dealer commission.

Finance Minister Nirmala Sitharaman on Monday told reporters that the government charges higher rates for fuel in order to bear the cost of oil bonds issued by the previous government to the companies.

Speaking about why she cannot cut the excise duty on petrol and diesel, Sitharaman said, “If I had not incurred the UPA’s oil bonds worth over ₹ 1. 4 lakh crore, I would have given relief from petroleum prices.”

According to LiveMint, during the Monsoon session in Parliament, Minister of State for Petroleum and Natural Gas Rameswar Teli had told that the central government collected ₹94,181 crore through levy of excise duty on petrol and diesel in the first three months of the FY22.

LPG prices hiked by Rs 25, Check out latest rates here

Vandana Nampoothiri — Wed, 18 Aug 2021 07:45:36 +0000

The price of Liquified Petroleum Gas (LPG) domestic cylinders was increased by Rs 25 apiece on Tuesday. After the hike, the cylinders would now cost Rs. 859 in Delhi.

This is the second time prices have been increased. The domestic cylinder that cost Rs. 809 on June 1 was priced at Rs. 834 on July 1. From January to August, LPG cylinders prices have gone up by Rs 165.

According to Business Standard, the price after the latest hike is the highest price at which a “subsidized” domestic cylinder is being sold in the city. As reported by IndiaTV News, the price for the domestic cylinder in Mumbai is Rs 859.5, whereas, in Kolkata, it is Rs 886 per cylinder.

In Chennai, the LPG cylinder costs Rs 875.50, which was Rs 850.50 yesterday. In Lucknow, Uttar Pradesh, the rate is Rs 897.5. And in Ahmedabad, Gujarat it is Rs 866.50.

Fuel prices in the national capital have remained unchanged since July 2021. Petrol sold at Rs 101.84 a litre and diesel at Rs 89.87 a litre. The base prices of petrol and diesel are Rs 41.24 and Rs 42 a litre respectively. The near 50 per cent increase in the selling prices is due to central and state duties, and dealer commission.

Recently Prime Minister Narendra Modi launched the second phase of Pradhan Mantri Ujjwala Yojana, an initiative to help needy people get easy access to LPG connections.

PayWorld expands its operations in the Southern market with a reach of over 5 lakh retailers across India

News Desk — Wed, 11 Aug 2021 10:39:34 +0000

New Delhi, 11^th August 2021: PayWorld the fastest growing FinTech company in India, expands its operations in South Zone. PayWorld already has a strong foothold in the Tamil Nadu market where per day the average sale of our active retailers crosses millions. PayWorld facilities digital transactions with services like mobile recharge, e-payment, railway reservation, and remittance services. PayWorld is a one-stop solution for digital transactions with a network of 5,25,000+ retailers in 700 districts across the nation. With this expansion, the idea is to transform and bring the marginalized areas of our nation together. All retailers on board are local and are well versed with the local language and dialects to understand the pain points of the customers.

Currently, the average sale of our active PayWorld retailers in Tamil Nadu alone crosses millions on daily basis. On average, the retailers there do a minimum of 5,000+ digital transactions on daily basis. With such huge potential, it is believed that expansion will only add to the numbers and will garner huge profits and benefits for retailers and low-income groups in the Southern region. So far PayWorld has already signed 1,04, 508 retailers in the South region adding to its active list of 5,25,000+ retailers across India.

Commenting on the expansion, Mr. Praveen Dhabhai, COO, PayWorld said “We are elated to extend our footprints in Southern Region. Through hyper localization and retailer-based assisted model, PayWorld is aiming to address the pain points of the customer. We have a strong network of over 5,25,000+ retailers across 700 districts across India, and with this expansion, the aim is to grow the network by aiding the marginalized section of our society and benefiting retailers at the same time.”

“PayWorld is the fastest growing FinTech company in India with a strong rural presence and a network of retailers. Our consistent effort is to transform rural India from cash to digital payments. We have already tied up with 1,04, 508 retailers in the Southern market, and the number is only growing strong from here. With this expansion, we are hoping to capitalize and increase our retailer profits at the same time aid rural customers through digital utility services. Right now, our primary focus is to grow Kerala, Karnataka, Andhra Pradesh, and Telangana markets. However, Tamil Nadu will continue to serve our main market but we hope to make digital payments a universally accepted model in rural India.”

PayWorld offers a plethora of utility services and also facilities SME’s loans. Across India, approximately 100 million transactions are done in a day through PayWorld active retailers.

Cost of domestic LPG cylinder to reduce by Rs 10 per cylinder: Indian Oil Corporation

Meemansa Shekhawat — Wed, 31 Mar 2021 15:32:45 +0000

On Wednesday, March 31, Indian Oil Corporation Limited announced that the cost of domestic LPG cylinders will be reduced by Rs 10 per cylinder from April 1, 2021, reports ANI.

Well, the cost of domestic LPG cylinders had been increased by Rs 125 per cylinder in recent weeks, but now finally there comes a news of relief.

Cost of Domestic LPG cylinder to reduce by Rs 10 per cylinder effective 1st April 2021: Indian Oil Corporation Limited pic.twitter.com/kOdk1yQPEO

— ANI (@ANI) March 31, 2021

“International oil prices, which are the benchmark for deciding retail rates, have softened over the past few days. Though there had been firming up of prices on Tuesday, overall the trend has been of a decline, which should reflect in domestic retail rates,” a top official said; as quoted by the sources of News 18.

Even, according to the top officials, the price of LPG gas cylinders will not go up any further, as the international prices have come down and it will soon reflect in domestic prices soon.

Ahead of assembly elections in Tamil Nadu, West Bengal and Kerala, the prices of fuel were being considered as a political issue. The opposition parties are also been trying to put down the BJP led-government for putting the burden on the consumers. Another piece of information to be noted is that India is 85% dependent on imports in order to meet its oil requirements.

Flipkart in negotiations with ClearTrip to acquire majority stake

Arnav Dogra — Wed, 03 Mar 2021 09:59:24 +0000

Ever since the concept of ‘super-apps’ has become popular, major firms like Amazon, PayTM have been redesigning their apps to be able to cater to all kinds of needs of their customers be it payment services, food delivery, retail, or travel bookings.

Flipkart too, as of recent, has been wanting to get a ‘seat’ on the ‘super-app train’. Flipkart, which is owned by the US retail-giant Walmart, first dipped its toes in this segment when it entered an agreement with MakeMyTrip enabling the former to offer the latter’s services on its app.

An anonymous source informed MoneyControl that Flipkart is currently in talks with ClearTrip, an online travel management service which allows users to make hotel, travel bookings. This interest that Flipkart has shown in ClearTrip denotes the e-commerce firm’s aim of increasing its market share in the travel segment.

According to the said source, Flipkart is seeking to acquire a majority stake in the company which will give it full control of the company and the deal is currently undergoing negotiations. The proposed deal will provide Concur Technologies, DAG Ventures and Gund Investment Corporation, ClearTrip’s promoters an exit from the firm.

Although this news remains unconfirmed by the major partied involved, a successful deal would mean Flipkart infusing the company’s services into its app where it will be met with Flipkart’s strong customer base which could go on to potentially make this venture profitable.

Digital payment transactions likely to reach 271 billion by 2023 in India: Report

Divya Joyce — Tue, 24 Nov 2020 13:21:17 +0000

India is rapidly shifting to digitalization. About 66.6 billion transactions worth USD 270.7 billion are expected to shift from cash to cards and digital payments by 2023 in India, and further increase to USD 856.6 billion by 2030, a report by Accenture said on Tuesday.

The COVID-19 pandemic has shifted the dynamics of banking. This rapid shift to online payment is urgently increasing the need for banks to modernize the payment system, also enhance the consumer experience with digital payment, the report, titled ‘Playing the Long Game in Payments Modernisation’, said.

The report is based on a survey of 120 payments executives at banks globally regarding the transformation of their payments business, as banks make multi-year investments to compete with non-bank digital-payments providers and comply with new regulations.

Conducted between July and August this year, the report surveyed markets including Australia, Brazil, Canada, China, India, Norway, Singapore, Thailand, the UK and the US. It noted that the expected drop in cash volume is based on GlobalData and Accenture Research assumptions.

Also, the forecast of non-cash transactions in consumer spending is calculated using cash evolution data and MSC rates provided by GlobalData. The report forecasted that nearly 420 billion transactions worth USD 7 trillion, globally are expected to shift from cash to cards and digital payments by 2023 – and increase to USD 48 trillion by 2030.

It is said that in 4 months of launching its payment app, Google Pay is processing the same number of transactions as Axis bank and has resulted in UPI transactions increasing about 8 times.

“COVID-19 has accelerated the shift to digital payments at a pace banks could not have predicted. The pandemic will permanently change how consumers shop and pay for products as they prioritize convenience above all else,” Sulabh Agarwal, who leads Accenture’s Payments practice globally, said. He added that banks’ investments in new payments systems have also focused on the way of the changing consumer dynamic and improving the customer experience.

“While India has been ahead of the curve in terms of real-time digital payments infrastructure driven by UPI and 24×7 NEFT, the pandemic has led to a further increase in digital, contactless payments as consumer behavior has undergone a shift,” Sonali Kulkarni, Lead – Financial Services, Accenture in India, said.

With newer players launching their payments offerings and increased uptake of ‘Buy Now Pay Later’ schemes, consumer experience, and convenience is bound to improve significantly, she added. “Banks in India have been making multi-year investments to modernize their payments systems, and going forward, we expect them to strengthen these investments to scale up and improve the resilience of their digital payment operations,” she said.

Retail investment in Indian companies at 11-year high

Shravan Kanade — Mon, 09 Nov 2020 07:04:55 +0000

Indian Retail companies experienced their 11-year high in the month of September. The Retail Investors have boosted their shareholdings and are pumping their money into equities. The retail business rallied in the second quarter of the financial year as the COVID-19 unlock took place and economic activities led to a recovery in the overall economy.

As of September 30, the top 10 companies with the highest retail holding are Reliance Industries, Hindustan Unilever, HDFC Bank, Tata Consultancy Services, L&T, Infosys, Housing Development and Finance Corp., ITC, Asian Paints, and Bajaj Finance.

India’s first database firm covering the primary capital market of India has listed 1,605 companies that hit an 11-year high of 7.01% in the quarter ended in September. The growth was 0.27 % higher than that reported in the first quarter of FY21, while it is 0.55% higher than that reported 1 year ago for the same quarter. The industry reported very good growth despite COVID-19 lockdown and restrictions for business. While the retail holding hits Rs 10.58 lakh crore in the Q2 of FY21 which is Rs 1.43 lakh core more than Q1 of FY21 which reported Rs 9.15 retail holding.

According to the data given by SEBI, over 3.4 million new Demat accounts have been opened by the investors in the September quarter. While 1.3 million of these accounts have been opened in the September month only.

“What is also significant to note is the continuing overwhelming presence of retail investors in mid-cap and smaller companies, which institutional investors typically stay away from. The picture is very different if one looks only at Nifty companies. The retail share in these companies was 6.49% in Q2, declining marginally to 6.09% in case of top 100 companies listed on NSE in Q2,” said Pranav Haldea, managing director, Prime Database Group.

Amazon-Future conspiracy: Future Retail files suit in Delhi High Court seeking relief over Future-Reliance deal

Shravan Kanade — Sat, 07 Nov 2020 15:46:26 +0000

Kishore Biyani’s Future Retail Ltd files suit in the Delhi High Court seeking relief over the arbitration order passed by Singapore International Arbitration Centre (SIAC). The Future retail alleged that the retail giant Amazon is misusing the interim order issued by SIAC.

The Future Retail made a statement saying “the company has filed necessary suit in the Delhi High Court on November 7, 2020, in relation to seeking necessary reliefs against Amazon.com NV Investment Holdings LLC (Amazon) from interfering with the transaction by misusing an interim order dated October 25, 2020, issued by an emergency arbitrator, appointed by the SIAC.”

“The company has inter alia made all entities parties to the suit which were parties to the arbitration proceedings, this includes the promoters of the company. It may be noted that the reliefs sought in the suit are only against Amazon,” the company added.

Amazon went to SIAC over this conspiracy and that issued an interim award in favor of Amazon barring FRL from taking “any step to dispose of or encumber its assets or issuing any securities” to secure any funding from a restricted party.

The whole conspiracy comes after the deal in August, where Reliance Retail Ventures, a unit of RIL agreed to buy the retail assets of the Future Group.

On August 29, Future Retail had announced that it would “sell by way of a slump sale the retail and wholesale business” of its supermarket chain Big Bazaar, premium food supply unit Foodhall, and fashion and clothes supermart Brand Factory’s retail and wholesale units to Reliance Retail.

However, Amazon owns a 49% stake in Future Retail and has invested $200 million in a Future unit. Amazon said, the Future-Reliance deal means that Amazon will no longer remain the single largest shareholder of Future Retail, which has an “irreplaceable and widespread network” of more than 1,500 retail stores.

Amazon alleged that it had a contract with Future retail that prevents some listed companies from buying a stake in the company. The list includes Reliance, which is growing rapidly in the Indian Retail market and had received several investments from the market.

Over 7 crore retailers will be on road against Amazon and Flipkart

Shravan Kanade — Thu, 29 Oct 2020 07:34:17 +0000

India is a huge market for online retail companies, people were under lockdown for several months due to COVID-19 and thus the economy experienced a huge decay, but as the restrictions were gradually lifted by the government through several phases of unlocking, life came to normalcy.

As the people were under lockdown for several months, the online retail giants like Amazon and Flipkart launched big festive season sales which attracted customers because of great discounts provided by the companies, and that brought great earning for the retail giants.

However, Praveen Khandelwal, National Secretary-General of the Confederation of All India Traders (CAIT) alleged that the companies have violated the trading rules of e-commerce platforms and government should take strict actions against them. Praveen’s organization has more than seven crore, active members and they have said that they will protest on the streets if the government fails to take any action.

Praveen alleged that Amazon and Flipkart are destroying Indian retailers and small shop owners by providing deep discounts to customers which need to be stopped. Praveen said that Indian retailers are patriots and they are boycotting Chinese products despite cheap prices and high profitable deals, while Amazon and Flipkart are selling Chinese products for their sake, thus they need support.

Amazon and Flipkart in talks with Aditya Birla Fashion and Retail Ltd. to make an Investment Plan

Shravan Kanade — Thu, 22 Oct 2020 09:11:32 +0000

Aditya Birla Fashion and Retail Ltd.(ABFRL) is in talks with E-commerce giants, Amazon, and Flipkart seeking potential investment. The company is suffering from the adverse financial effect of COVID-19 and is been in the market to seek investments either through a hive-off or partnerships, thus the company is looking towards Amazon and Flipkart for potential investment.

“ABRFL has been struggling from the impact of COVID and has been in the market for some time to raise new funds. It has been reaching out to investors as well as brands for a potential investment,” said the company spokesperson aware of the discussions.

ABFRL is a fashion retail company having several offline stores in India but because of the COVID-19 lockdown, the company suffered financial losses and thus it decided to take a step towards E-commerce retail. Last year, ARFL acquired ethnic apparel and lifestyle retailer Jaypore for ₹110 crore. The company is having a good offline network of stores that can help Amazon and Flipkart to provide faster delivery to customers.

“For Flipkart, this will be a part of their strategy to form deep partnerships with offline retailers to come up with new products, basis the shopping trends that they see on their platform, as several new to e-commerce customers are flocking on to online commerce this festival season,” stated a spokesperson from the company.

JioMart to sell electronic appliances ahead of festive season

Shravan Kanade — Thu, 22 Oct 2020 07:41:37 +0000

JioMart is looking to enter the huge E-market of electronic products which is being dominated by some of the biggest E-commerce companies like Amazon and Walmart’s Flipkart. JioMart is a pilot project of Reliance retail owned by India’s richest businessman Mukesh Ambani, which currently offers kitchen appliances, small home appliances like vacuum cleaners air purifiers, electronic personal care products etc.

The online sales of e-commerce companies during the festive season are expected to have crossed $4.3 billion and smartphone sales are expected to have a contribution of more than 30 percent in it. Thus JioMart is looking to take advantage of the festive season by utilizing 2,000 stores in 700 cities to fulfill the orders placed online.

“JioMart’s entry into electronics was planned before Diwali and it will be scaled up across categories and cities over the next 7-10 days so that Reliance can gain a share of the online pie,” said an industry executive.

However, the company said to have some very positive results. “Within a few weeks of launch, JioMart has already delivered over 400,000 orders on a single day, which is significantly higher than any other grocery home delivery company,” an official said in a statement announcing their Q1 results in July.

Sales are likely to cross $4.5 billion in the festive season offer of online retails

Shravan Kanade — Wed, 21 Oct 2020 14:03:51 +0000

A big spike in online retail sales due to festive offers of giant companies like Amazon and Flipkart. The total sales are expected to cross the $4.5 billion mark as estimated by a consultancy firm Forrester. These sales include a big contribution of around $1.7 billion and thus avoiding the effect of COVID-19, the sales are 20 percent higher than that of last year.

“Online retail sales have been in line with our expectations, and in the first week, sales have been between $4.5 billion and $4.8 billion,” said Satish Meena, senior forecast analyst at Forrester. The firm estimated that the total sales for the festive month would be over $6.5 billion and smartphones and other electronic items will contribute around 50 percent to this amount.

“TVs were the main category to be impacted, and some large appliances were also not available in a few small towns, as per our data. In previous years, there would usually be some issue about logistics, but this year, the issue was about product availability among some brands,” Meena added.

“The first few days of this year’s online sale season saw a more explosive start vs last year. The key themes driving this year’s sale were affordability, smartphones, and tier 2 growth resulting in more recovery for brands and sellers,” the firm said in a report.

Q1 FY 21 Results: Bata India Ltd. posts net loss of Rs 100.88 crore, revenue down by 85%

Chittesh Dalmia — Sat, 08 Aug 2020 07:33:09 +0000

Bata India Ltd on Friday reported a consolidated net loss of Rs 100.88 crore for the first quarter ended June 2020 as sales were struck down by lockdown.

The company had posted a net profit of Rs 100.97 crore in the April-June quarter a year ago, Bata India said in a BSE filing.

Its revenue was down 84.69% to Rs 135.07 crore during the quarter as against Rs 882.75 crore in the corresponding Q1 FY20.

“Results in the first quarter of FY 2020-21 were severely impacted because of disruptions caused by the ongoing COVID-19 pandemic,” said Bata.

Its revenue from operations for Q1 FY21 was “lower by 85 per cent compared to the corresponding period last year due to the lockdown in April and May followed by a graded unlocking across the country and, consequently, the company incurred a loss after tax of Rs 101 crore as against profit after tax of Rs 100 crore in the corresponding period last year.”

Bata India’s total expenses were recorded at Rs 321.85 crore, down 56.72%.

Commenting on the results, Bata India CEO Sandeep Kataria said: “It was an unprecedented quarter in Bata India’s history. During the quarter, we had low sales and no production due to lockdown mandated by the government due to the pandemic.”

“We re-started our operations keeping the safety of our customers and employees in mind and in line with government and our global standards. The results have to be viewed in this context,” he said.

“In addition, we have increased our focus on franchise store rollout and extending our reach to multi-brand outlets to get even closer to our customers. We are hopeful that the improvement in the sale will continue and get a further boost with the festivities in the coming quarter,” he said.

“The company is focusing on controlling its costs-related to retail stores, factories, rentals and operations and driving efficiencies in its value chain. The impact of cost-saving exercise is visible in these results. Multiple work streams have been put into place to look at all cost-lines and come out of the pandemic fighting fit,” it said.

Bata has ramped up its digital presence and introduced two local channels Bata Chat Shop for shopping over WhatsApp and ‘Bata Stores on Wheels’ mobile kiosks that allow customers to shop at their doorstep.

On August 7, shares of Bata India Ltd closed at Rs 1,258.40 apiece on the BSE.

Bata premium products demand face coronavirus crunch. Read here.

Samsung India makes a comeback as No. 2 smartphone brand by market share

Chittesh Dalmia — Mon, 03 Aug 2020 07:54:12 +0000

Samsung Electronics Co Ltd is forging a comeback in India’s smartphone market with a new range of budget devices and a ramped-up online presence, aiming to recoup ground ceded to Chinese rivals.

Samsung, the only major non-Chinese player in the country, has already begun to gain ground, and a surge in anti-China sentiment in India following a border clash in June is expected to provide a fresh boost.

Samsung jumped to the No. 2 spot with 26% market share in the second quarter behind Xiaomi’s 29%, according to tech researcher Counterpoint, as the South Korean company’s diverse and inhouse supply chain helped it avoid product delays suffered by rivals during coronavirus lockdowns.

It was in third position with a 16% share in the previous quarter.

Once the unrivalled leader in the world’s second-biggest smartphone market, Samsung has over the past three years lost Indian customers to Chinese brands, whose devices are perceived as better value.

But India still accounts for some $7.5 billion in annual retail smartphone revenues for Samsung, according to Counterpoint, making it the company’s biggest market outside the United States.

It has built what it has described as the world’s largest mobile phone manufacturing plant on the outskirts of New Delhi, where it tests new devices and often assembles them for export.

That manufacturing power, and Samsung’s ability to source many components internally, is helping it gain ground amid the pandemic. Chinese smartphone brands Xiaomi and Oppo suffered local production hiccups and product delays due to COVID-19, but Samsung was able to keep delivering phones smoothly.

Now it is building on the momentum. Samsung has launched seven new smartphones since June, three of them under 10,000 rupees ($133.63) including its cheapest Android offering at $75.

“The COVID crisis has pushed people to use smartphones for everything from online education to digital payments to even connecting with friends on video calls. That’s why these budget phones are focused on the mass market,” said a source familiar with Samsung’s strategy in India.

In May, Samsung partnered with Facebook to train some 200,000 brick and mortar stores selling its phones to use social media for sales and marketing. It has also launched instalment-payment plans for customers and new incentive schemes, including one that gives student discounts on select devices.

A spokesman for Samsung said the company was seeing high demand for its devices in India and expected its revenues to increase from last year. The company does not provide a breakdown of revenues from individual countries.

Competition from rivals such as Xiaomi, which is banking on a ‘Made in India’ image to beat the anti-China sentiment, remains stiff. A deal between India’s Reliance Industries Ltd and Google to make a cheap Android phone could also pose a threat to Samsung’s sales of lower-end devices.

“Samsung is India’s No.2 smartphone brand after Apple by image,” brand strategist Harish Bijoor said. “So a phone priced between 6,000 rupees to 15,000 rupees from Samsung is very well placed today to capture market share from Chinese rivals.”

Source: Reuters

Reliance Jio to back positive results for Q1 FY 21 amid retail business slump

Chittesh Dalmia — Thu, 30 Jul 2020 06:40:36 +0000

Reliance Industries Ltd (RIL) is likely to report muted earnings growth in the first quarter of this fiscal as gains from its telecom business will be offset by weakness in its retail and refining and petrochemicals business, analysts said.

According to a Bloomberg survey of 10 brokers, net profit is expected to come in at ₹7,119 crore against ₹10,104 crore in the same quarter last year. Net sales is estimated at to come in at ₹1 trillion, according to a poll by 11 analysts. The Mumbai based company is scheduled to report its earnings on Thursday.

Centrum Research which expects the first quarter to be the worst in three years for RIL, expects a 49% year-on-year (y-o-y) dip in petchem EBIT, 35% y-o-y dip in retail revenue, and $2.9 per barrel sequential dip in gross refining margins or GRM.

Earnings in RIL’s organised retail segment is expected to be impacted by the pandemic lockdown. According to Axis Capital, retail business is expected to post revenue decline of 15% year on year.

The stock has risen 151% from the lows in March, with a 27.83% jump till 28 July and has rallied 45.17%, outpacing the benchmark Sensex.

Downgrading its rating from ‘outperform’ to ‘buy’, CLSA analysts said while its long-term promise and underweight position in portfolios may support the stock price, large valuation surprises may be difficult in the near term. CLSA set a target price of ₹2,250 factoring in the street-high valuation for Reliance Jio and Reliance Retail. CLSA expects the company’s market capitalization to cross $220 billion by March 2022.

“Strong performance by Jio gets offset by further deterioration in the energy and retail businesses,” said Axis Capital in its research report. It expects RIL’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) to decline 13% year-on-year to ₹18,500 crore.

DealShare to expand operations in Maharashtra; 100 pin codes to be covered around Mumbai

Chittesh Dalmia — Tue, 28 Jul 2020 10:15:08 +0000

DealShare, one of the fastest-growing social e-commerce companies has announced that they are planning to penetrate further into the state and expand their services to more than 100 pin codes in the state.

Headquartered in Jaipur with offices in Bangalore, Ahmedabad and Mumbai, DealShare was established in September 2018, as an e-grocer in the social commerce space, a concept that utilizes e-commerce & social media to help customers to avail deals, discounts on their daily-use products.

To address the growth-driven business demand, the company will be expanding its warehousing presence from current 5,000 sqft to 60,000 sqft and will add new warehouses at Mumbai, Pune, Nashik and Nagpur.

Commenting on the expansion, Mr Vineet Rao, Founder and CEO, DealShare, said, “We have been receiving a very warm welcome in Mumbai. In the last three months, we have registered a ten times growth in our sales. This acceptance has boosted us significantly and we are planning to expand further into the state. We are planning to extend our services to Pune, Nashik, and Nagpur and touch around 100 pin codes in the state by Dec 2020. We are also confident that by December we will touch a scale of 30,000 orders every day in the state. In just six months of operations, Mumbai contributes to 25% of our revenue and will continue to be a growth driver for our business.”

Mukesh Ambani’s Reliance acquires retail side of Future Group in Rs 27,000 crore deal

Chittesh Dalmia — Tue, 28 Jul 2020 06:39:33 +0000

Reliance Industries led by Billionaire Mukesh Ambani is reportedly in the final stage of negotiation with Kishore Biyani-led Future Group to acquire the retail business. A recent report in Mint cited sources that RIL is close to buying Future Group’s retail assets for a deal close to Rs 24,000-27,000 crore.

The sources revealed that five listed entities, including Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks, will be merged into Future Enterprises Ltd (FEL) before the sale.

Note that according to research firms’ reports, Future Retail manages over 1,500 stores in India under various formats, including Big Bazaar, Fashion at Big Bazaar (FBB), ezone, and Foodhall. RIL will take over the retail, supply-chain and related businesses of Future Group which will put a full stop on the retail business.

Future Group has accumulated heavy debt over the years. As of 30 September 2019, the debt of Group’s listed companies was Rs 12,778 crore.

As per earlier reports, discussions were underway for a haircut of about 30% on outstanding dues of over Rs 6,000 crore and refinancing part of the borrowings for a further tenure of 5-7 years.

On July 28 10:53, shares of Future Retail were trading at Rs 105.35 on the BSE with only buyers situation.

Sun Pharma’s Taro Pharmaceutical resolves US antitrust dispute

Chittesh Dalmia — Fri, 24 Jul 2020 10:42:38 +0000

Sun Pharma’s American arm Taro Pharmaceutical has resolved antitrust cases involving multi-year investigations by US Department of Justice into the country’s generic pharmaceutical industry.

“Taro Pharmaceuticals USA, Inc, has resolved all cases involving the company in connection with the multi-year investigations by the DOJ, Antitrust Division and Civil Division, into the US generic pharmaceutical industry,” Sun Pharma said in a regulatory filing.

Under a deferred prosecution agreement reached with the DOJ, it said, adding that the department will file an information for conduct that took place between 2013 and 2015.

“The company has also reached a framework understanding with the DOJ Civil Division, subject to final agreement and agency authorisation, in which the company has agreed to pay USD 213.3 million (approx Rs 1,599 crore) to resolve all claims related to federal healthcare programs,” it added.

Taro Pharmaceutical also said that it is discussing a separate corporate integrity agreement with the Department of Health and Human Services, Office of Inspector General. “This agreement will supplement Taro’s existing compliance programs, based upon established best practices and industry standards, as well as the company’s global code of conduct”.

On July 24 3:01 pm, Sun Pharma was trading at Rs 485.80 apiece on NSE.

Source: PTI

Consumer Protection Act rules and regulations effective by end of week

Himanshu Pandey — Tue, 21 Jul 2020 07:57:37 +0000

The Consumer Protection Act, 2019, which enters into force on 20 July 2020 and supersedes the previous Consumer Protection Act, 1986, confers an advantage on customers. “The New consumer protection act 2019 entered into effect today”

Ram Vilas Paswan, Minister for Consumer Affairs, Food and Public Distribution, stated that, “Direct marketing regulations will be notified within two weeks of consultations with stakeholders”.

The Minister for Consumer Affairs stressed that companies would face legal action over any inability to comply with the new regulations over online stores, including the compulsory showing of ‘country of origin’ on their goods. Revised regulations will enter into effect at the end of this week.

Ram Vilas Paswan believes that the bill will motivate customers and allow them to defend their rights.

Rules for e-commerce

The standards of trade is decided following the consultation of the Department of Industry Promotion. And Internal Trade ( DPIIT) under the auspices of the Minister of Trade. According to Leena Nandan, Secretary for Consumer Affairs. And did not violate the overall e-commerce regulation.

E-commerce agency shall provide details relating to returns, refunds, reimbursements, warranties and promise of returns. Also collection of and shipments, means of payment,complaint resolution process, payment processes. Moreover, authentication payment methods, transaction retroactivities, stated by Ram Vilas Paswan.

Every eCommerce platforms must recognize that consumers will receive any consumer complaints within 48 hours. And must remedy the complaint within a month of receiving the complaint according to this Law, paswan added.

The Act allows for a liability to be levied on the appropriate court for the manufacturing or selling of adulterant /spurious products. Throughout the event of the first conviction, the Court shall revoke the license given to the person for up to two years, and the permit shall be revoked in the event of a second conviction or subsequent conviction.

E-Commerce In Effect

They can not “manipulate the quality” of the products and services on certain platforms to achieve unfair advantage.

E-tailers are also asked, as reported by PTI, to provide information about the methods of payment available. The security of those payment methods, any users’ charge or charge. Also the procedure to cancel regular payments by these methods. BUt fee-back options, if available, and contact details of the appropriate payment system provider.

Furthermore, the proposed law will not allow e-commerce businesses to show fraudulent advertising on the selling of products and services.

Under the Regulations, no e-commerce product business shall be permitted, if charged for, to decline to approve or withhold any good that has been bought, to discontinue the purchasing of or agreed to, or if the products or services are faulty or incorrect, are incomplete, or are not defined by such goods or services as
declared, or are given la or agreed to.

“The ‘Consumer Protection (E-Commerce) Regulations, 2020’ will apply to all electronic retailers registered in India. Or abroad but offering goods and services to Indian consumers”. Ram Vilas Paswan stated to reporters at the virtual press conference.

Distance selling adopted by Reliance Ltd for its subsidiaries: E-Commerce

Chittesh Dalmia — Tue, 30 Jun 2020 15:47:38 +0000

Maintaining social distancing during the COVID-19 outbreak is a new norm popularized by the Government and governance of other countries like wise. One of the largest companies of India by market capitalisaion, Reliance Ltd. has switched its business model to E-commerce market by marketing and selling products through video calls over Zoom and MS Teams, broadcasting the latest trends over WhatsApp and delivering a more consumer friendly interface through its websites and application.

As demand for high-end goods gradually returns with unlocking of the economy, Reliance Brands Limited that operates super premium labels, such as Diesel, Superdry, Brooks Brothers, Burberry, Coach, Gas, Giorgio Armani, Hamleys, Jimmy Choo, Kate Spade New York, Steve Madden, among others, in the country have switched to a digital platform for displaying its premium products.

The retailer has reached out to 1,50,000 shoppers in the 38 cities, selling over 11,750 units between 1 May and 15 June. Its executives made over 700 calls via Zoom and MS Teams, with over 3,350 customers billed, said Manu Sharma, group vice president business at Reliance Brands.

“There is lot of saving happening because you are not spending on a lavish restaurant booking or going out. So you are now moving back to the safest way of celebrating, that is probably getting something cooked at home and getting a couple of nice gifts to make the family member happy,” Sharma said.

“Luxury will bounce back sooner rather than later. The core of luxury is to make one feel good and belong to a specific strata of society. These basic facts of human psyche will never change. Luxury will keep fuelling these aspirations and will remain buoyant,” said Abhay Gupta, founder & CEO Luxury Connect & Luxury Connect Business School.

The positive outlook towards e-shopping will further strengthen the digital market and maintain a steady cash flow for the companies. The distributors and the retailers should also maintain a stringent policy to not indulge in advertising unethical products or send manufacture defect products.

Recently the total value (Market Cap) of Reliance Industries just hit the 11 Lakh Crore mark. It's the first time any listed company has ever achieved this feat in India. So how does Reliance make its money?

Subscribe @ https://t.co/D7h3UmCMeF pic.twitter.com/9c6lhm4Uve

— Finshots (@finshots) June 25, 2020

RIL approaches arrangement to gain retail business of Future Group

Himanshu Pandey — Tue, 30 Jun 2020 06:30:30 +0000

BENGALURU: Reliance Industries (RIL) has moved close to securing an arrangement to buy the retail organizations of Kishore Biyani’s Future Group.

The exchange will extra concrete RIL’s place as the most elevated physical member all through classes like goods, pattern and fundamental product, referenced two people informed on the issue.

The arrangement will contain at least three enterprises advanced by Biyani—Future Retail, Future Lifestyle Fashions and Future Supply Chain Solutions — going for a merger. The blended venture will at that point be obtained by the Mukesh Ambani-controlled petrochemicals-to-telecom combination.

The conversations right now are at a modern stage, and RIL is enthusiastic on shutting it sooner than the forthcoming AGM on July 15. Be that as it may, specifics are regardless of being resolved on either side, and a finalizing negotiation keeps on being to be marked, the sources referenced. Conversations for the arrangement started before this a year as one of Biyani’s holding models defaulted on a home loan remuneration.

Known on the grounds that the retail lord, Biyani has from that point forward been decisions, along with stake net deals in retail models and furthermore setting up available the protection inclusion three-way organization Future Generali.

A few diverse gamers like US-based retail huge Amazon had revealed interest in Future Group. In any case, an arrangement with Reliance bears a great deal total goals to Biyani’s obligation issues, referenced a gracefully. “It is probably going to be a mind-boggling exchange as, first, Future Group will report a plan of course of action to converge into one organization. RIL is well on the way to totally purchase out this joined element in return for its offers,” referencing one of the sources.
Existing dealers in various Future Group organizations—Amazon, Blackstone and PremjiInvest—could get shares in RIL. The arrangement with Reliance is captivating as Jeff Bezos-possessed Amazon has had a venture organization with Future Group since 2014. Most recent a year, Amazon also gained a diagonal stake in Future Retail by putting resources into a solitary of the advertiser elements of Biyani.

An email dispatched to Future Group and RIL spokespersons didn’t inspire any reaction until the hour of setting off to the press. Two separate sources referenced Amazon’s privileges, when it hit an arrangement with Future Coupons giving it an almost 4% stake not straightforwardly in Future Retail last a year, is “abstract to conditions” and won’t be a gigantic obstacle for the arrangement.

“Dependence would have unquestionably taken a gander at it before continuing on the arrangement,” one of the people discussed before referenced.

These people referenced the ramifications of this arrangement with Reliance would have a “huge effect” on the retail segment — each on-line and disconnected. Future Retail has more than 1,500 retail shops in various codecs by methods for makers like Big Bazaar, Nilgiris and Easyday, while Future Lifestyle has 300 shops by methods for producers life Central and Brand Factory.

“This would add another measurement to the much-touted Ambani-Bezos (Amazon CEO) fight,” this individual referenced.

B2B Excess inventory witnesses spike in sales post unlock 1.0

Anushka Sharma — Fri, 26 Jun 2020 13:53:37 +0000

India’s largest online marketplace for B2B excess inventory liquidation – excess2sell.com has reported a bounce back in sales post the lockdown was lifted earlier this month. Last month the company had recovered just over 30 per cent of its pre-lockdown business after the Maharashtra Government had eased up the lockdown for specific sectors in the State. Since mid-May the company has received 1100 new B2B registrations on its online platform and over the last week, it witnessed a sharp spike of 120 per cent in transactions, indicating a revival in demand.

The company has also observed a marginal but revealing pattern in the make of goods being transacted with buyers consciously preferring Indian commodities over the China makes.

“The good thing is that the market seems to be inducing purchase even while it has not completely opened. We had anticipated more than usual inventories to accumulate but the trend is indicating otherwise. Amongst the products listed on our online marketplace laptops, routers, groceries and computers have sold out faster than expected. Most of our B2B partners operate in the tier 1 cities, but in the last three months we received new registrations from some tier 2 cities as well. This is also indicative that the otherwise complacent or tech shy players are looking for alternate avenues to sell or buy stocks from,” says Mr Rajan Sharma, Founder & CEO, excess2sell.com.

The company’s partners are predominantly in Mumbai, Pune, New Delhi, Bangalore, Hyderabad, Kolkata, Raipur and Gurugram. It also has partners in thirty other locations across India but the numbers are comparatively lower.

“We are also seeing a lot of transactions in essential items like hygiene products including sanitizers, masks and PPEs. There is a very specific demand for these homegrown products and our service desk has been receiving queries regarding the make of the products. While we are not entirely sure if our partners are consciously avoiding transacting in China made products, but they sure are indicating inclination for products that are made in India,” adds Mr Sharma.

Earlier this year, excess2sell.com raised a fresh round of investment funding of $1 million which it is allocating towards enhancement of technology.

“Excess2sell.com is an online marketplace for the country’s B2B sector and providing seamless, automated solutions for our partners is crucial. We are now very focused on improving on the tech aspect to aid our expansion plans and gain a wider reach. We are gradually connecting with more B2B partners in new verticals and we feel confident that soon excess2sell.com will become the one-stop-shop to assist B2B players in liquidation of their surplus or ageing stock,” concludes Mr Sharma.

Amidst lockdown, Indian B2B businesses embrace online liquidation opportunities

News Desk — Tue, 02 Jun 2020 10:16:07 +0000

India’s largest online marketplace for B2B excess inventory liquidation – excess2sell.com has resumed operations after the relaxations on lockdown came into effect for specific industries. Within a span of two weeks the company has managed to recover 30 per cent of its pre-lockdown business and is witnessing a spike in new registrations of B2B players on its online platform. The company is presently witnessing inventory liquidation demand in IT related products including laptops, routers and anti-virus solutions which accounts for a majority of its transactions. The company is receiving most of its transactions from Mumbai, Pune, New Delhi, Bangalore, Hyderabad, Kolkata, Raipur and Gurugram while also covering over thirty other locations across India.

“Even under normal circumstances, unsold inventories are a major challenge and are estimated to be 20 per cent of the total inventory in normal course of businesses. However with the lockdown of almost 60 days, there definitely is a sudden surge in the unsold stock and we expect this to be the new normal in terms of businesses being conducted in B2B segment. Other than in computers, IT, broadband, mobility we are also seeing a lot of transactions in essential items like hygiene products including sanitizers, masks and PPEs, among others,” says Mr. Rajan Sharma, Founder & CEO, excess2sell.com.

Days before the nation went into a complete lockdown on account of the COVID-19 pandemic, excess2sell.com had raised a fresh round of investment funding of $1 million.

“We have also witnessed new products being listed in FMCG, stationary, toys and hygiene. With the country continuing to remain in lockdown, we anticipate a surge in these products considering the issues in the current supply chain. We lost roughly 50 percent month-on-month business since the lockdown but the year ending FY20 we were able to clock 100 percent growth in our sales revenue. Looking at the current situation and the increase in new registrations we are anticipating a quick recovery and are very likely to meet 500-crore sales revenue target in FY21,” adds Mr. Sharma.

Excess2sell.com creates synergy between buyers and sellers while maintaining confidentiality, anonymity and neutrality. The company has grown at 150 per cent CAGR since its inception in the year 2016. It has already liquidated excess inventory worth INR 2.23 billion to its B2B partners across India.

“New buyers and sellers are showing interest on our online platform and are looking at alternate ways of doing business in the immediate post lockdown phase. This, we believe, will help us recover whatever revenue or transactions we lose during the lockdown period. We have clear focus on conserving capital and talent; and cutting expenses by reviewing short term and long terms plans. Despite the setback, we are working towards achieving close to INR 150 crores in this financial year and are maintaining a revenue target of INR 2000 crores by 2023,” concludes Mr. Sharma.

About Excess2Sell: – Founded by Rajan Sharma, Navinder Chauhan & Anant Chaturvedi, Excess2sell is a technology driven B2B marketplace which recently marked the successful completion of 4 years on 2nd March 2020. Ever since its inception, the business is completely concentrated on solving the problem of overstock in the business-to-business space.

Excess2sell is available on all platforms as website and mobile app on Google Play Store and iOS App Store. It also has a dedicated Artificial Intelligence (AI) powered Smart Business Assistant in its mobile app to provide 24×7 virtual support for selling and buying to all its partners. It has a registered seller-buyer base of above 34,000 partners and roughly transacts 10,000 deals across 14 verticals in more than 500 categories of products. This is the only B2B portal in the market that ensures complete transparency in its transaction and function on the unique business model of CAN- Confidential, Anonymous and Neutral.