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Ecommerce giants Amazon, Flipkart record Rs 11,621 crore in combined ad revenue in FY24
Economic Times
·
8m ago
Medial
India's top e-commerce platforms, Amazon and Flipkart, witnessed strong growth in advertising revenue in the fiscal year ending March 2024. Amazon Seller Services reported a 24% increase in revenue from other marketplace-related services, reaching Rs 6,649 crore, while Flipkart Internet recorded a 50% surge in advertising revenue, amounting to Rs 4,972 crore. Factors contributing to this growth include increasing internet penetration and the rising trend of online shopping in India, as well as investments in ad tech capabilities. Retail media platforms have been successful in offering precise targeting and innovative ad formats, attracting a diverse range of advertisers.
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Related News
Top line can grow to Rs 2.5 lakh Cr in 5-10 yrs if we execute well: Zepto CEO
YourStory
·
1y ago
Medial
Quick commerce startup, Zepto, aims to grow its revenue to Rs 2.5 lakh crore in the next 5-10 years if successful in executing its business plans. The company's CEO, Aadit Palicha, highlighted the importance of the grocery and household essentials market in India, stating that it is larger than all other categories served by leading ecommerce platforms Flipkart and Amazon combined. Zepto's revenue has already grown over five-fold to Rs 10,000 crore in FY24, and the company recently raised $665 million in funding. Zepto plans to expand its warehouses and increase its market share in the quick ecommerce sector.
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Amazon, Flipkart generate Rs 8,705 crore ad revenue in FY23
Economic Times
·
1y ago
Medial
Amazon and Flipkart, two of the biggest players in India's e-commerce sector, have reportedly generated a combined revenue of Rs 8,705 crore ($1.2 billion) from digital advertising in fiscal year 2022-23. This indicates the growing importance of ad revenue for these platforms as they continue to expand their reach and offerings to the Indian market.
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Quick Commerce will rival ecommerce majors Amazon, Flipkart in 2025: Zepto CEO
Economic Times
·
7m ago
Medial
Zepto CEO Aadit Palicha predicts that by 2025, quick commerce will rival traditional ecommerce giants like Amazon and Flipkart in scale. Highlighting Zepto's remarkable growth, he emphasizes that success depends on "exceptional execution." Quick commerce fundamentals will drastically evolve, enhancing customer value and unit economics. Zepto's 2024 revenue surged 120% to Rs 4,454 crore. During New Year's, Zepto and Blinkit reported record sales, with Blinkit CEO noting peak orders and celebrating customer participation in the 12 grapes tradition.
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Tech giants' digital ad revenue surges 16% to Rs 55,000 crore in FY23
Economic Times
·
1y ago
Medial
Digital platforms like Google India, Amazon India, and Flipkart saw a 16% increase in total advertising revenues, reaching Rs 55,053 crore in the last financial year. This outperformed the Rs 40,000 crore earned by the TV broadcast industry in the same period. These platforms have been successful in attracting small and medium businesses with low ad budgets, allowing them to advertise digitally and boost sales. Google and Meta reported combined ad revenues of Rs 46,348 crore, surpassing the entire Indian TV broadcasting industry. Digital advertising is predicted to exceed traditional platforms in the near future.
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Booming quick commerce platforms spot a big surge in ad revenues
Economic Times
·
8m ago
Medial
Quick-commerce platforms such as Blinkit and Zepto are experiencing a surge in advertising revenue, driven by the rapid growth of their user bases. Blinkit, the market leader, reported a fourfold increase in ad revenue to over Rs 400 crore for the 2023-24 fiscal year, with expectations to earn over Rs 1,000 crore this year. Zepto also anticipates similar revenue figures, as advertising services offer higher profit margins compared to other revenue streams. Quick-commerce firms are achieving ad revenue scale faster than traditional e-commerce marketplaces like Flipkart and Amazon. Advertising revenue is becoming a significant driver of profitability for these platforms.
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Amazon India marketplace posts Rs 588 Cr adjusted EBITDA in FY24
Entrackr
·
9m ago
Medial
Amazon India’s marketplace revenue has continued to outpace Flipkart Marketplaces, with collections from its platform and related services crossing the Rs 25,000 crore mark and registering an adjusted EBITDA of Rs 588.6 crore in FY24. However, Flipkart’s top-line growth was significantly higher than that of Amazon Seller Services during the fiscal year ending March 2024. Amazon India’s revenue from operations grew 14.5% to Rs 25,406 crore in FY24 in contrast to Rs 22,198 crore booked in FY23, its standalone financial statements filed with the Registrar of Companies show. The entity generated 82.4% of the revenue from marketplace services while the remaining came from the services rendered to related parties including platform services, marketing, and royalty revenues. The firm also generated a non-operating income worth Rs 186.8 crore, pushing the overall revenue to Rs 25,592.8 crore in FY24. Amazon Seller Services is engaged in marketplace and marketing support services. Its ultimate holding company is Amazon.com, Inc., which is based in the United States of America. Moving over to the spending, delivery charges were the largest cost element forming 25.8% of the total expenses. The cost went up 9.1% to Rs 7,487.9 crore in FY24 from Rs 6,863.1 crore in FY23. Sales promotion and legal cum professional costs were the other two significant elements which formed around 12% each and stood at Rs 3,586.1 crore and Rs 3,530.2 crore, respectively, in FY24. During the year, Amazon Seller Services spent Rs 2,771.2 crore on employee benefits which also include share-based payments (ESOP cost) of Rs 682.7 crore. Amazon India marketplace arm’s total expenses increased 6.5% to Rs 29,062.3 crore during FY24 from Rs 27,283.6 crore in FY23. In the end, the company managed to control its losses by 28.5% to Rs 3,469.5 crore in FY24 as compared to Rs 4,854.1 crore in FY23. Its operating cash flows also turned positive to Rs 724.1 crore during the last fiscal year against Rs -1,542.1 crore in FY23. It is worth noting that the company reported an EBITDA loss of Rs 94.1 crore in FY24, excluding the ESOP cost (non-cash expenses), the company turned profitable on the operational level with an adjusted EBITDA of Rs 588.6 crore during the year. The highlights of the improved bottom line can also be seen in the EBITDA margin which strengthened to -0.37%. On a unit level, Amazon’s Indian entity spent Rs 1.14 to earn a rupee of operating revenue in FY24. The entity’s rival, Flipkart's marketplace arm reported Rs 17,907 crore in revenue with 21% YoY growth while the company’s losses shrank over 40% to Rs 2,358 crore in FY24.
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Tata Digital logs Rs 37,355 crore aggregate GMV in FY24, as turnover rises, loss narrows
Economic Times
·
11m ago
Medial
Tata Digital, the ecommerce arm of the Tata Group, reported a gross merchandise value (GMV) of Rs 37,355 crore in FY24. The super app Tata Neu had 20.76 million transacting customers during the year. Additionally, Tata Digital expanded its offerings by launching food delivery and its co-branded credit card reached 1.18 million issued cards. The company's total turnover doubled to Rs 420.5 crore, while losses narrowed. Tata 1mg achieved profitability, while BigBasket and 1mg narrowed their losses. Tata Digital is developing a 'value fashion' offering to compete with Flipkart, Amazon India, and Ajio.
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Zomato Continues Its Rally: Shares Touch New Record High At INR 175.5
Inc42
·
1y ago
Medial
Shares of Zomato, the foodtech giant, have been on an upward trend since April 2021. Last Friday, the shares surged nearly 5% to reach a record high, followed by another record high on Monday. Despite shedding some gains, Zomato shares ended 1.3% higher at a record closing price. Since its listing in July 2021, the stock has experienced fluctuations. However, the company's profitability and the growth of its quick commerce arm, Blinkit, have attracted positive market sentiment. Zomato is now expanding its offerings to compete with ecommerce giants like Amazon and Flipkart. As of now, its shares are trading more than 37% higher year-to-date.
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CAIT Alleges Inaction In CCI’s Probe Against Amazon & Flipkart
Inc42
·
10m ago
Medial
- CAIT accuses CCI of mishandling investigations into alleged anti-competitive practices by Amazon and Flipkart. - Letter to finance minister highlights concerns over delays in addressing violations of India's FDI policies. - CAIT alleges that Amazon and Flipkart use proxy sellers to control inventory and dominate listings. - Ecommerce giants accused of bypassing regulations through these practices. - CAIT seeks government intervention to address the issue and ensure fair competition in the marketplace.
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ETtech Explainer: CCI's antitrust probe into Amazon, Flipkart
Economic Times
·
7m ago
Medial
The Supreme Court transferred petitions about alleged anti-competitive practices by Amazon and Flipkart to Karnataka High Court. The case began in 2019 when traders accused the ecommerce giants of favoring certain sellers, engaging in deep discounting, and exclusive product launches. The Competition Commission of India initiated a probe, concluding in 2023 with accusations against both companies. Amazon and Flipkart disputed the findings in various courts, challenging the investigation's legitimacy due to inadequate evidence.
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