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Discounts offered on inflated prices on ecommerce must be curbed by govt

Economic Times

Economic Times · 1y ago

Discounts offered on inflated prices on ecommerce must be curbed by govt

Think tank CUTS International has urged the government and regulatory bodies to take action against unethical practices, such as offering discounts on inflated prices in the e-commerce sector. Instead of banning flash sales, the report suggests strengthening consumer protection measures and ensuring a level-playing field. The report also emphasizes the need for differentiating between 'deep discounting' and 'predatory pricing' and urges e-commerce platforms to maintain platform neutrality and offer content in regional languages.

Related News

Maruti Suzuki to hike vehicle prices by up to 4% from April

YourStory

YourStory · 4m ago

Maruti Suzuki to hike vehicle prices by up to 4% from April

Maruti Suzuki India will increase vehicle prices by up to 4% from April to address rising input costs and operational expenses. This price adjustment will vary by model. Despite efforts to optimize costs, the country's largest carmaker states that some increased expenses must be passed on to consumers. Other manufacturers, including Hyundai, Honda, and Mahindra, have also raised prices due to inflation and commodity prices. Maruti Suzuki shares rose slightly to Rs 11,578.50 on BSE.

Apple will cut off third-party app store updates if your iPhone leaves the EU for a month

The Verge

The Verge · 1y ago

Apple will cut off third-party app store updates if your iPhone leaves the EU for a month

Users in the European Union can now install alternative app marketplaces and access apps offered through these platforms on iOS 17.4 or later, in compliance with the Digital Markets Act. To qualify, your Apple ID country or region must be set in an EU country, and you must physically be located within the EU. Apple only checks device eligibility on-device and does not collect location data to protect user privacy. If you leave the EU, you can still use previously installed apps from alternative app marketplaces, which may receive updates for up to 30 days after your departure. However, you must be physically present in the EU to install new alternative app marketplaces and apps from them.

China's Singles Day sales festival wraps up with ecommerce giants reporting sales growth

Economic Times

Economic Times · 1y ago

China's Singles Day sales festival wraps up with ecommerce giants reporting sales growth

Chinese ecommerce platforms Tmall and Taobao, owned by Alibaba Group, experienced positive year-on-year growth during the recent Singles Day sales period. Rival JD.com also reported record-high gross merchandising volume during the festival. The event, which expanded from a 24-hour online shopping event to weeks of promotions across various platforms and physical stores, is seen as a gauge of consumer confidence. Alibaba aimed to offer rock-bottom prices, with steep discounts of 40-50%, in response to competition from rivals Douyin and PDD Holdings' Pinduoduo. Bain and Company reported that shoppers focused on essential items while spending less on big-ticket categories.

As SEBI, RBI join hands to curb liquidity, small & midcap shares may face the heat

Money Control

Money Control · 1y ago

As SEBI, RBI join hands to curb liquidity, small & midcap shares may face the heat

Last week, the market regulator, SEBI, issued a circular urging mutual fund body AMFI to put brakes on small and midcap equity schemes, citing concerns over bubble valuations. This, along with recent actions by the Reserve Bank of India (RBI) against non-banking financial companies (NBFCs), has made individual investors cautious about small and midcap shares. The regulators' actions aim to curb the excessive influx of money leading to inflated stock prices. However, experts believe the impact of these regulatory measures may be limited, considering the ample liquidity in the system and strong macroeconomic fundamentals.

Meesho Courts D2C Brands: Will It Be Match Made In Heaven?

Inc42 · 8m ago

Meesho Courts D2C Brands: Will It Be Match Made In Heaven?

Meesho, an ecommerce platform, has managed to generate revenue through advertising, marketing income from sellers, and a discounts-led acquisition strategy. The company also charges a fulfillment fee from sellers for completing deliveries. Meesho's success can be attributed to its ability to attract users from Tier 2 and 3 towns, meeting their demand for branded products across categories. The platform aims to retain users by offering more choices and competitive prices to prevent migration to other channels. Meesho has also introduced Valmo, a franchise-based logistics model, to enhance its efficiency and reduce costs. The company may consider acquisition and consolidation strategies with direct-to-consumer brands in the long term to further its growth.

Ecommerce discounts shrink on day three on 30% surge in festive sales

Economic Times

Economic Times · 1y ago

Ecommerce discounts shrink on day three on 30% surge in festive sales

Ecommerce discounts have reduced by 30% on the third day of festive sales in India. This decline in discounts indicates a shift in focus towards profitability for Indian startups. Additionally, the Cricket World Cup is seen as a major opportunity for bars, restaurants, theaters, and delivery platforms to boost their businesses. Despite this, social media users express surprise at the low attendance during India's first match against Australia.

Bulk drug makers to benefit from price stability but need to improve efficiency

Livemint

Livemint · 7m ago

Bulk drug makers to benefit from price stability but need to improve efficiency

Softening prices of active pharmaceutical ingredients (API) are expected to stabilize in the coming months, providing some relief to Indian manufacturers. The decline in API prices can be attributed to price cuts by Chinese companies. To compete with their Chinese counterparts, Indian API companies must enhance operational efficiency and contain costs. India aims to reduce its dependence on imported bulk drugs and encourage domestic API manufacturing. Despite the expected stabilization, API companies need to focus on pricing strategies and improving profitability.

Tesla slashes Model Y inventory prices by as much as $7,000

TechCrunch · 1y ago

Tesla slashes Model Y inventory prices by as much as $7,000

Tesla is reducing the prices of its unsold Model Y SUVs in the U.S. by several thousand dollars in an effort to clear out a large backlog of inventory. Discounts of up to $5,000 are being offered on long-range and performance models, while rear-wheel drive versions are seeing cuts of over $7,000. This comes as Tesla continues to produce more vehicles than it sells, resulting in an excess of inventory. The company built 433,371 vehicles in Q1 2023 but only shipped 386,810. Tesla has been implementing various strategies, including price reductions and promotions, to drive sales amid slower growth projections for 2024.

Quick Commerce Price Battle Intensifies As Flipkart Enters Blinkit & Swiggy’s Lane

Inc42 · 11m ago

Quick Commerce Price Battle Intensifies As Flipkart Enters Blinkit & Swiggy’s Lane

Flipkart's entry into the quick commerce space could lead to a price war as it aggressively discounts products on its Flipkart Minutes platform. UBS Research analysts note that prices on Flipkart Minutes are 10% lower, suggesting it may be a strategy to gain market entry. The competition is set to increase with Ola planning to tap into the $5 billion opportunity by automating dark store operations.

DPDP rules: Ecommerce, gaming, social media platforms to delete personal user data after three years

Economic Times

Economic Times · 6m ago

DPDP rules: Ecommerce, gaming, social media platforms to delete personal user data after three years

The draft rules of the Digital Personal Data Protection (DPDP) Act require data fiduciaries like ecommerce, online gaming, and social media platforms to erase personal user data after three years if no longer needed. These rules apply to entities with a specified number of users in India. Users must be notified 48 hours before data erasure and can request retention. Data fiduciaries must protect personal data and promptly inform users of breaches, detailing consequences and mitigation measures. Feedback on these rules is open until February 2025.

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