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Tata Digital rolls out quick commerce offering Neu Flash
YourStory
·
8m ago
Medial
Tata Digital has launched quick commerce services through its app Neu Flash, offering various product categories including groceries, apparel, electronics, beauty, and personal care. The service is powered by the hyperlocal operations of BigBasket, which is also owned by Tata. This move follows Myntra's introduction of its quick delivery initiative called M-Now, which focuses on delivering products within 30 minutes to 2 hours. Amazon India is also reportedly planning to launch its own quick commerce arm called Tez. Quick commerce platforms are gaining popularity as consumers seek faster delivery for a wider range of products.
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Tatas to enter red-hot quick commerce space with ‘Neu Flash’
Economic Times
·
9m ago
Medial
Tata Group's ecommerce venture Neu is set to enter the quick commerce segment with Neu Flash, offering ultra-fast delivery for grocery, electronics, and fashion products. This move comes as consumer demand continues to rise in metro areas. Neu Flash will be powered by partners like BigBasket for groceries, Croma for electronics, and Tata Cliq for fashion and lifestyle products. Quick commerce is disrupting the retail industry, with players like Zomato-owned Blinkit, Swiggy Instamart, and Zepto leading the market. Tata Digital aims to tap into the online shopping trend while being cautious about heavy spending on consumer incentives.
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Tata’s Neu Looks To Ride The Quick Commerce Wave
Inc42
·
9m ago
Medial
The Tata group is entering the quick commerce sector in India with its ecommerce venture, Neu. Neu is launching "Neu Flash" to cater to the growing demand for instant deliveries in the country. The service will offer groceries, electronics, and fashion products to select users, putting it in competition with major players like Blinkit, Zepto, Swiggy Instamart, and Flipkart's 'Minutes'.
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Ahead of festive sale, Flipkart pokes fun at Amazon
Economic Times
·
1y ago
Medial
E-commerce giant Flipkart takes a dig at rival Amazon on Twitter, mocking the latter's search result for 'big billion day 2023'. Both companies will launch their flagship sales on October 8. Flipkart introduced 'Flipkart VIP' for select cities, offering early access and cashback benefits. Competitors like Reliance Retail's JioMart and Tata Neu are also expected to join the festive sales frenzy. The government has previously expressed concerns over deep discounting and flash sales on such platforms.
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Tata funds pause is no 'debt-errent' at 1mg, BigBasket
Economic Times
·
1y ago
Medial
Tata 1mg and BigBasket, two major assets of Tata Digital, are planning to finance their offline expansion through a mix of debt and equity. Tata Digital, backed by parent company Tata Sons, aims to stabilize operations on its superapp Neu before allocating more funds. The capital infusion will help BigBasket compete against rivals in the quick commerce sector, while 1mg plans to rely on debt from banks for its offline business. Despite competition in the online pharmacy segment stabilizing, both companies are focused on improving the consumer experience on the superapp.
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Tata hails Uber to drive Neu traffic
Economic Times
·
1y ago
Medial
Tata Group is reportedly in talks with Uber to establish a strategic partnership aimed at boosting traffic and engagement on Tata's digital platform. The collaboration could involve integrating Uber's services as an anchor app within the Tata Neu ecosystem. Tata Neu has faced challenges in user growth and customer engagement. Uber CEO Dara Khosrowshahi and Tata Sons chairman N Chandrasekaran are expected to discuss the potential alliance during Khosrowshahi's upcoming trip to India. The terms of engagement are still being worked out. Tata Digital denied ongoing talks, while Uber did not respond.
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Tata Neu To Foray Into Online Food Ordering Space Via ONDC
Inc42
·
1y ago
Medial
Tata Digital's super app Tata Neu is planning to enter the online food ordering space using the Open Network for Digital Commerce (ONDC) route. The app will undergo closed-user group trials before being made available for the wider public. The move is part of Tata Digital's strategy to develop a high-frequency use case, bringing consumers back to the app regularly and enabling cross-selling of other products. Tata Neu is collaborating with Magicpin for ONDC integration, and the app may eventually be integrated with ONDC for other categories. The move comes after Tata Digital recently acquired BigBasket and 1mg.
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Tata Group in talks with Uber for strategic partnership for app, says report
Livemint
·
1y ago
Medial
The Tata Group is reportedly in discussions with Uber to establish a strategic partnership aimed at increasing traffic volumes and engagement on Tata's digital platform, Tata Neu. This collaboration may involve integrating Uber's services as an 'anchor app' within Tata Neu, which is positioned as a 'super app'. Tata Digital, however, denies any ongoing talks, and Uber has not commented on the matter yet. The potential partnership could help Tata Neu attract more daily users and expand its product offerings.
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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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Amazon pilots quick commerce service in select pincodes of Bengaluru
YourStory
·
5m ago
Medial
Amazon has launched pilots for Amazon Now in Bengaluru to compete in the quick commerce sector. Offering a 10-minute delivery promise, this service marks Amazon's entry into quick commerce. The move follows the success of platforms meeting urban consumers' demand for rapid delivery, expanding beyond Amazon Fresh's two-hour delivery. This initiative positions Amazon alongside competitors like Flipkart and Tata Digital in the burgeoning quick commerce market, emphasizing faster delivery of daily essentials.
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Tata Sons to invest $1 billion more in digital arm
Economic Times
·
1y ago
Medial
Tata Sons plans to invest $1 billion in Tata Digital over the next few years. The investment comes as Tata Digital reviews its digital strategy with the appointment of a new CEO and puts a pause on external fundraising for its ecommerce entity, Tata Neu. Tata Digital has already received over $2 billion in funding from Tata Sons for Neu, and the company will focus on execution and scale before seeking external investors. The superapp is integrating Air India and will prioritize scaling its fintech vertical. Profitability and addressing customer complaints are key areas of focus.
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