“Did we know that Reliance and Amazon and many others will be super aggressive? Absolutely. But we are too,” Doug McMillon said at the Morgan Stanley Virtual Global Consumer & Retail Conference on Thursday. “You can debate, do you think Walmart will be number one in the market given what Amazon and Reliance are doing"
2GUD Local will enable local stores (single brand or multi-brand stores and other shopping destinations) and retailers to expand their digital footprint to connect more effectively with their consumers, it added. 2GUD Local has started with KLM Fashion Mall in Bengaluru. Launched in 2017, KLM Fashion Mall has expanded its reach through 17 showrooms in the last three years.
There are ways to reduce risk, but health experts advise avoiding it when possible. The U.S. Centers for Disease Control and Prevention says holiday shopping in crowded stores is a 'higher risk' activity and that people should limit any in-person shopping, including at supermarkets.
In August this year, MyGlamm had acquired POPxo, a digital community for millennial women. Post the acquisition, Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital joined MyGlamm's existing investors - Bessemer Venture Partners, L'Occitane, Mankekar Family Office, and Tano Capital LLC.
“We are very excited, as Mumbai is one of our priority markets in India. We have been present online in Mumbai since early 2019 and soon the many people of Mumbai will be able to shop at our fantastic IKEA store," Peter Betzel, CEO, IKEA India said.
E-commerce sites including Amazon, Flipkart and 1mg had suspended the COD option for some months from April as part of efforts to create contactless shopping in a bid to curb the spread of Covid-19. However, the sheer popularity of COD prompted them to restore the payment method recently.
Earlier in October, ABFRL and Flipkart had announced that they had entered into an agreement for the stake sale on a fully-diluted basis by way of subscription to equity shares, valued at Rs 1,500 crore.
Mumbai-based Tata Group, with a combined revenue of about $113 billion and marquee brands such as Jaguar Land Rover and tea maker Tetley, is scouting for local e-commerce assets at a time when the race for Indian online shoppers is heating up.
While e-commerce operators were hit during the lockdown as the government allowed only essentials to be sold online, they made a sharp recovery after May as more consumers bought goods on their platforms sitting at home.
Top brands and retail chains such as LG, Samsung, Apple, Vivo, Realme, Bosch, Siemens, Croma, Levi’s, Reliance Retail and Vijay Sales expanded sales 10-20% in the first 15 days after Diwali, which was in mid-November, over the year earlier, according to estimates by senior industry executives.
The firm shipped 800,000 iPhones in July-September, its highest in a quarter. This was before the flagship, 5G-enabled iPhone 12 series was launched in October and prices of older models were cut, along with other offers for Diwali sales.
"During the financial year ended on 31st March 2020, the net total income of company was Rs 34,610.1 crore as against the net total income of Rs 30,934.9 crore in the previous financial year, witnessing an increase of 11.88 per cent in the net total income," documents sourced by business intelligence platform, Tofler said.
CAIT Secretary General Praveen Khandelwal said, "We express our support and solidarity with the just cause of the global movement 'MakeAmazonPay'. Indian traders led by CAIT are ready to join the campaign, which is supported by warehouse workers, environmental activists and advocates for racial, tax and data justice around the world."
Kataria takes over from Alexis Nasard who stepped down after almost 5 years in the role. With 24 years of experience at Unilever, Yum Brands and Vodafone in India and Europe before joining Bata India as CEO in 2017, Kataria has been directly involved in leading businesses and brands.