E-commerce giant Flipkart, which owns eBay India, will shut the service on August 14 Written By Alnoor Peermohamed & Romita Majumdar With Flipkart deciding to pull the plug on eBay India on August 14, 2018, this will finally bring to an end the era of one of the earliest movers in the country’s online retail space. The San Jose-headquartered company, right after Walmart’s decision to acquire majority stake in Flipkart on May 9 this year, had announced its plan of trying luck in the country on its own once more. But, the market today is no more the same as…
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Trollies are seen outside an IKEA store in Wembley, north London January 28, 2015. IKEA Group, the world’s biggest furniture retailer, posted on Wednesday a… Written By Suneera Tandon IKEA seems more obsessed with doing it right than doing it fast. The Swedish furniture retailer, which has been present in India for close to five years, has waited all this while to open a store in the country. Over these years, IKEA has been studying the Indian market and understanding consumer preferences in order to localise its offerings. But days before its much-awaited launch, the company has again postponed the…
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Written By Rasul Bailay, ET Bureau NEW DELHI: Reliance Industries has identified last-mile delivery as the biggest challenge for its planned online marketplace venture and will focus on nurturing this aspect of the business, where rivals Flipkart and Amazon have asignificant head-start, sources said. “Last-mile delivery and the overall customer experience are going to be priority areas for Reliance,” a source said, asking not to be identified. Reliance plans to invest heavily to build a robust supply chain, including its own delivery logistics, and will also use third-party companies as “it wants to take ownership of delivery and experience,” the…
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Written By Varsha Bansal, ET Bureau BENGALURU: With fashion being the second-most important category after smartphones for the Flipkart Group, its Myntra and Jabong units plan to invest $300 million over the next three years to improve market share, according to people familiar with Flipkart’s three-year outlook. Myntra-Jabong also expect to triple their gross merchandise value — a proxy for gross sales—to $4 billion in three years, from $1.2 billion in fiscal year 2017-18. The retailers intend to triple their combined customer base and improve their share of the domestic online fashion market to 50%, from an estimated 35% now,…
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Written By Shelley Singh, ET Bureau The $20-billion online shopping mart is set for a mega clash of the titans, Amazon.in vs Walmart, in the coming months. This period, dotted with festivals, deep discounts and big sale days, which has so far seen Flipkart compete with Amazon, will now see the two US giants battle it out in the local market, writes Shelley Singh “Expect them to outbid each other and make a big splash. The festive season bonanza could actually become bigger around Diwali this year,” says Vidhyashankar, executive director, Grant Thornton India. Adrian Lee, research director, Gartner, says,…
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