Retail

Flipkart ties up with banks, NBFCs to offer quick loans

MUMBAI: Walmart-owned e-commerce major Flipkart has roped in a few banks and NBFCs to offer its seller-partners working capital loans within two days at pricing of 9.5 percent. It has revamped its seller financing programme called ‘Growth Capital’ which allows over 1 lakh sellers to avail of credit from 10 banks and NBFCs with one-day approval and disbursal in the next two days, the company said in a statement Thursday.

Ananth Narayanan

Fashion e-tailer Myntra Monday said its CEO Ananth Narayanan has quit, a development that ends months of speculation about his exit following a recent re-jig at its parent group Flipkart. source:retail.economictimes.indiatimes.com

amazon

sellers and authorities alike, another big seller for the global ecommerce giant, Appario Retail, a joint venture between Amazon and the Patni group, registered a total income of $104.44 Mn (INR 759 Cr) in financial year 2017-18. In its first year of operation, the Amazon seller has reportedly recorded the total expenditure of $105.51 Mn (INR 767 Cr), with the loss after tax standing at $963.3K (INR 7 Cr).     Source:- inc42.com

Reliance Retail

New Delhi: Reliance Retail has purchased 16.31 per cent stake in readymade garment wholesaler and retailer Genesis Colors Ltd (GCL) for Rs 34.80 crore, Reliance Industries said Sunday. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Mukesh Ambani-led Reliance Industries.  The stake buy by the group in GCL is in addition to 49.46 per cent stake already held by Reliance Brands, a subsidiary of RRVL.     Source:- retail.economictimes.indiatimes.com

Retail Sales

For the past year, select Google advertisers have had access to a potent new tool to track whether the ads they ran online led to a sale at a physical store in the US. That insight came thanks in part to a stockpile of Mastercard transactions that Google paid for. But most of the two billion Mastercard holders aren’t aware of this behind-the-scenes tracking. That’s because the companies never told the

Amazon Retail

Every day seems to bring yet another piece of news about the chaos the business of retailing finds itself in. This e-commerce guy is opening stores; this physical retailer is closing them. This one is seeing great retail traffic; that one can’t get anybody into the place. This startup is exploding in growth and will probably be scooped up by some powerhouse for mega-money;   Source:- forbes.com

alibaba

New Delhi: China-based multinational e-commerce and retail company Alibaba Group Holding Limited is believed to have expressed interest to form a “mega” Indian retail joint venture with Mukesh Ambani’s Reliance Retail, reported livemint.com. The report added that the company has already initiated talks with Reliance Retail and is keen on making an investment of at least $5 billion.     Source:- timesnownews.com

Retail Is Utilizing Technology

A major transition for established brick-and-mortar retailers and consumer-packaged-goods companies is underway whether they like it or not. The transition has to do with the fact that digital transformation and software are permeating every level of business, from warehouse management systems to the supply chain on the blockchain.   Source:- forbes.com

oneplus

Bengaluru: OnePlus expects e-commerce to remain its biggest sales channel in India over the next five years, a top executive said, even as the firm announced plans to open more offline stores. The Chinese premium smartphone maker mainly uses two online platforms to sell in the country. These are its own website and Amazon India, which is currently its biggest sales channel.     Source:- livemint.com