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News on Medial
Simpl Partners With Myntra To Offer 1-Tap Checkout During The Festive Season
OutlookIndia
·
1y ago
Medial
Fintech company Simpl has joined forces with fashion e-tailer Myntra to introduce its 1-tap checkout feature to Myntra's customers. This partnership aims to enhance the checkout experience for Myntra's customers and improve conversion rates for merchants. Simpl's 1-Tap pay feature will be available during the Myntra Big Fashion Festival, offering a seamless and convenient checkout process. This collaboration reflects the growing demand for convenience, particularly among Gen Z and millennial shoppers in the online fashion category.
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Simpl expands integration with Zomato, goes live with its one-tap checkout
Economic Times
·
1y ago
Medial
Simpl, a checkout network, is expanding its partnership with food platform Zomato to integrate its one-tap checkout with Zomato Gold, Intercity Legends, and Zomato Everyday. This collaboration aims to enhance convenience for customers, improve conversions, increase average order value, and drive user retention on the platform. Simpl has already processed over 100 million checkouts on Zomato since 2017, indicating strong consumer preference for easy and hassle-free checkout experiences. The integration will cater to a larger customer base, including those from tier-3 cities and beyond, as well as frequent customers in metro areas.
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Quick commerce to contribute $1B in GMV to festival sales: BofA Research
YourStory
·
9m ago
Medial
- Quick commerce is expected to generate $1 billion in gross merchandise value (GMV) during the festival season, with online commerce platforms generating $12 billion in GMV, representing a 23% increase from the previous year. - Quick commerce platforms are projected to contribute nearly $1 billion to the total GMV during the festive season. - Festive consumption is driven by shoppers eagerly taking advantage of offers and deals, with around 65% of online buyers planning to increase their spending during this period. - Non-grocery online sales typically occur during the first wave of the festive season, while quick commerce platforms become more prominent for ordering groceries and festival essentials during the second and third waves. - Changing consumer spending patterns show a shift towards discretionary items like entertainment and travel, impacting retail purchases. - Grocery and beauty/personal care categories are expected to witness faster growth, driven by quick commerce players, challenging vertical e-commerce platforms in the same-day delivery space. - The online grocery market is projected to grow from $317 million in 2023 to $800 million during the 2024 festive season, with groceries contributing 13% of festive e-commerce sales, and quick commerce platforms leading the growth.
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Flipkart claims 1.4 billion customer visits during Big Billion Days sale
Economic Times
·
1y ago
Medial
During Flipkart's annual festive sale - The Big Billion Days (TBBD), the e-commerce giant claimed to have received a record 1.4 billion customer visits in the first seven days. The company also announced that it successfully delivered products to remote regions and had the largest fleet of women wishmasters compared to previous editions. Flipkart's Kirana partners delivered over four million packages in the first four days, and their artisan community saw a significant growth during the sale. Additionally, Flipkart created 1 lakh new job opportunities in its supply chain during this festive season.
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Festive season begins with a bang: quick commerce sees jump in sales
Economic Times
·
11m ago
Medial
Blinkit and Zepto, quick commerce platforms, are experiencing higher sales and expanding their product assortment in preparation for the upcoming festive season. These platforms are doubling their stock keeping units (SKUs) to offer a wider range of goods to consumers during the festive season. Ahead of Rakshabandhan, Blinkit CEO stated that they were selling 693 rakhis per minute. Zepto aims to deliver 3.5 million orders leading up to Rakshabandhan. Discounts and incentives are being provided, and international orders have been activated. More demand for gifting, snacking, and personal care products is expected during this festive season.
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Sweden's Truecaller partners with Razorpay for instant checkout verification solution
IndianStartupNews
·
1y ago
Medial
Truecaller has partnered with Indian fintech Razorpay to offer a swift and secure online checkout experience through its 1-Tap, OTP-Less Verification solution. The collaboration aims to enhance customer shopping journeys by simplifying the checkout process, benefiting Razorpay's 200 million+ annual customers and helping businesses reduce drop-offs and boost conversion rates. This move aligns with the goal of creating frictionless shopping experiences for both businesses and consumers in the direct-to-consumer digital ecosystem.
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Fashion giant Myntra records 60 Mn monthly users during festive season
Inc42
·
1y ago
Medial
Fashion ecommerce major Myntra recorded 60 million monthly active users during the festive season, with a growth of 100% YoY in its loyal customer base in the past 18 months. The Gen Z fashion segment witnessed a surge in demand and a 175% YoY growth in customers. Myntra aims to attract 10 million Gen Z users and exceed 100,000 styles on its app-in-app feature, FWD, by 2023. The company achieved a 70% YoY growth in its direct-to-consumer space and introduced AI-led features. Myntra faced competition from Ajio, Tata CliQ, and Nykaa Fashion.
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Blinkit, BigBasket and Swiggy Instamart to deliver gold, silver coins in 10 minutes
Livemint
·
8m ago
Medial
BigBasket has partnered with Tanishq to offer gold and silver coins to customers for the festive season. Customers can purchase coins such as Lakshmi Ganesh Silver Coin (10 g) and Tanishq Gold Coins (1 g), among others. BigBasket aims to deliver these coins in just 10 minutes. Along with BigBasket, Blinkit and Swiggy Instamart are also offering quick delivery of gold and silver coins this festive season. The partnership is part of BigBasket's strategy to expand its offerings beyond food and fulfill customers' Diwali wishlist.
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Fintech startup Simpl aims to onboard over 3,000 merchants to empower D2C ecosystem in Karnataka
IndianStartupNews
·
1y ago
Medial
Fintech startup Simpl aims to onboard over 3,000 merchants in Karnataka, focusing on Direct-to-Customer (D2C) businesses, within the next 2-3 years. The goal is to support the growing D2C ecosystem in Bengaluru, which is known for its expanding startup base. Simpl plans to enhance conversions, reduce cash-on-delivery transactions, and minimize product returns for its merchant partners through its AI-led Checkout Network. The D2C sector in India is projected to grow at a CAGR of 34.5% between 2022 and 2027, and Simpl aims to empower D2C merchants in Bengaluru to become a leading enabler of change.
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Festive sales hit $6.5 billion in a week on ecommerce street: report
Economic Times
·
9m ago
Medial
- Online marketplaces recorded a 26% increase in sales, reaching $6.5 billion in one week of festive sales. - Mobile phones, electronics, consumer durables, home, and general merchandise accounted for three-fourths of the total sales. - Sales in the first week made up for about 55% of the total expected ecommerce sales during the festive season this year. - Ecommerce giants Flipkart and Amazon India started their annual festive season sales on September 27, with a strong demand observed from tier-II and beyond cities. - Supply chain issues pose a significant challenge for brands during the festive rush, with demand exceeding expectations in some cases. - Quick-commerce platforms are also witnessing growth during the festive season, particularly in categories like wearables and audio products.
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Phishing you a Happy Diwali: AI advancements pave the way for cybercriminals
Economic Times
·
9m ago
Medial
- Cyberattacks and frauds are increasing during the festive season in India. - AI-enabled technology, including deepfakes, is making it harder to spot scams and social engineering attempts. - AI-powered fraud can lead to the theft of personal and financial information. - Web scraping activities, fake reviews, and fraudulent travel and accommodation sites are common during the festive season. - AI facilitates automated and scalable scam operations, voice scams, and adaptive tactics. - Users should exercise caution during the festive season, be wary of phishing attempts, and avoid sharing personal information or making payments on suspicious websites.
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