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Lowering Logistics Cost Can Help Increase Ecommerce Penetration In India: Flipkart CEO
Inc42
·
1y ago
Medial
Flipkart CEO Kalyan Krishnamurthy believes that solving the cost structure of logistics is a major challenge for India's ecommerce sector. Lowering logistics costs could enhance ecommerce penetration, which currently stands at 7-8% of India's retail market. Krishnamurthy also credited the Indian government's focus on tax simplification and ease of doing business for the sector's growth. Despite ongoing losses, Flipkart is reportedly approaching profitability due to reduced cash burn.
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Cost structure of logistics biggest challenge for ecommerce: Flipkart CEO
Economic Times
·
1y ago
Medial
Ecommerce in India is facing challenges due to the high cost structure of logistics, according to Flipkart CEO Kalyan Krishnamurthy. While the government has simplified taxation and adopted ease of doing business, reducing logistics costs is crucial to increase penetration in the market. Flipkart plans to transition its delivery fleet to electric vehicles by 2030. The ecommerce penetration in India is around 7-8%, but higher in product categories like electronics. Despite a 9.4% increase in net total income for FY2023, Flipkart's losses have also widened.
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Cost Structure Of Logistics Biggest Challenge For E-Commerce: Flipkart CEO
OutlookIndia
·
1y ago
Medial
Kalyan Krishnamurthy, CEO of Flipkart, highlighted the challenge of the cost structure of logistics in the Indian e-commerce sector. He mentioned that lower logistics costs would help increase penetration in commerce. Krishnamurthy also conveyed Flipkart's plans to transition its delivery fleet to electric vehicles by 2030. He acknowledged the government's efforts to simplify taxation and promote ease of doing business, which has contributed to the growth of e-commerce in India. Despite a 9.4% increase in net total income, Flipkart's loss widened in the fiscal year 2023.
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Middle India’s e-commerce revolution: A new wave of startups redefining online retail
Inc42
·
1y ago
Medial
Middle India's ecommerce market is expanding rapidly, with startups using technology to reach underserved rural consumers. Morgan Stanley predicts a 50% YoY growth rate, projecting the market to reach $150 billion by 2025. Investments in Middle India's ecommerce space, such as BuyEazzy, are providing valuable insights into the needs of Middle Indian consumers. These startups are reshaping online retail by catering to local demands, utilizing technology to connect with rural customers, and building robust logistics networks. While challenges like low internet penetration and lack of infrastructure persist, the growing penetration, increasing disposable incomes, and rising urbanization present significant opportunities for ecommerce in Middle India.
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Flipkart launches IRIS to help brands make data-driven decisions
YourStory
·
1y ago
Medial
Ecommerce company Flipkart has launched Flipkart IRIS, an insights platform that offers brands detailed customer behavior intelligence. The tool provides reports for performance improvement, comparative analysis, and user behavior insights on the platform. The insights can also help brands improve performance offline. With the data provided by IRIS, sellers can optimize marketing campaigns, enhance customer engagement, and measure their brand's health. Flipkart aims to unlock growth opportunities for brands on its platform, given the substantial room for growth in digital advertising expenditure in India. Amazon, Flipkart's competitor, also offers a similar brand analytics tool.
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How Outsourcing Powers A More Efficient Ecommerce Supply Chain
Inc42
·
9m ago
Medial
Ecommerce businesses often outsource services such as logistics, warehousing, customer support, and IT solutions for cost efficiency, scalability, and expertise. However, outsourcing can pose challenges such as loss of control, communication barriers, and data security.
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Meesho enables 8.5 lakh job opportunities this festive season
YourStory
·
11m ago
Medial
Meesho, an affordable marketplace, has created 8.5 lakh seasonal job opportunities this festive season, a 70% increase from the previous year. Over 60% of the jobs were in Tier III and IV regions. Meesho's sellers have hired 5 lakh seasonal workers, while partnerships with logistics providers have generated an additional 3.5 lakh jobs. The company aims to make ecommerce accessible and inclusive, introducing value-added services and emphasizing women's participation. Flipkart, another ecommerce platform, plans to create over 1 lakh jobs ahead of its Big Billion Days sale.
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Ecommerce platforms target tier-2 and tier-3 cities for festive sales growth in India
Economic Times
·
1m ago
Medial
Consumer brands and ecommerce platforms in India are targeting tier-2, -3, and -4 cities to boost sales during the festive season. Companies like Amazon, Meesho, and Flipkart are expanding their delivery networks, while brands like Nykaa plan to bolster regional engagements and offer significant discounts. Despite slowing growth in major urban markets, smaller cities are poised for expansion, driven by increased smartphone penetration and disposable incomes. Platforms hope that festive demand will compensate for earlier sales declines.
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60% FMCG companies say e-commerce is critical platform for sales
Economic Times
·
8m ago
Medial
According to a study by NielsenIQ, over 60% of FMCG companies consider ecommerce as their most important sales platform, with mid-sized companies showing a preference for ecommerce as their top sales channel. Emerging manufacturers in categories such as noodles, refined oil, biscuits, coffee, and packaged atta are experiencing 1.5 times higher growth in ecommerce compared to category averages. Convenience stores have also gained significant penetration in India, with large companies leveraging this channel the most. Pricing strategies and cost management are critical for businesses facing inflation, with a focus on diversifying distribution channels and investing in distribution to combat the effects of inflation while maintaining profitability.
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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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Is ONDC’s gamble paying off?
Economic Times
·
1y ago
Medial
Open Network for Digital Commerce (ONDC) launched last year to challenge the dominance of e-commerce giants like Amazon and Flipkart in India. It aims to increase digital consumption in India and generate opportunities for startups. Despite achieving some milestones, ONDC faces challenges such as supporting new entrants and scaling up operations. The network has seen a significant increase in transactions and aims to increase e-commerce penetration in the country. However, profitability remains a concern, as the operation-heavy nature of e-commerce makes it challenging to generate sustainable business.
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