Walmart takes a $290 million impairment on Jabong
Flipkart has been struggling to figure out a definitive long-term strategy for the fashion portal.
Algorithm versus small businesses: an unequal battle
Studies suggest that customer’s behaviour has now been shifted to need-based decision ra...
Jumbotail, NinjaCart raise more as B2B Ecomm finds love
NinjaCart, which connects farmers directly with businesses by cutting out middlemen, ...
Flipkart and Amazon clock Rs 31,000 crore in festive sales
The average order value for Flipkart stood at Rs 1,976 versus Rs 1,461 on Amazon, indicating that customers bought higher-value items from the Walmart-owned marketplace. Flipkart led with 64% share of the combined gross sales while Amazon continued to fare higher in net promoter score (NPS). NPS measures the loyalty of customers to a company.
Metro Cash & Carry seeks level playing field
The German wholesale retailer has thrown its might behind mom-and-pop groceries and has demanded level-playing for the unorganised sector, wading into a debate in India that ecommerce companies like Amazon and Flipkart are hurting small businesses here.
Google, Walmart help drive India payments past 1 billion transactions
Indian digital payments took off when the govt pushed demonetization in 2016, invalidating most of the country’s high-value currency notes in to curb corruption and push Indians away from cash. UPI has now surpassed a 100 million users 3.5 years after its launch, thanks to booming smartphone use and wireless data rates among the lowest in the world.
Walmart India revenue rises 11%
“We continue to build capabilities for the future through investments in revamping our technology infrastructure to enhance our omnichannel capabilities and in people development,” the company said.
Flipkart’s FY19 revenue up 42% to Rs 43,615 crore
In the previous financial year, Flipkart Group’s total revenue increased by 50% to Rs 30,644 crore.
Walmart CEO writes to PM, seeks stable business environment
The letter comes in wake of Flipkart and rival Amazon facing probes over alleged roles in predatory pricing.
Flipkart logs loss of Rs 3,837 crore in 2018-19
Flipkart India's revenue from operations, however, saw a 42.82 per cent jump to Rs 30,931 crore in 2018-19 from Rs 21,657.7 crore in the previous financial year, it added. Flipkart has its holding company registered in Singapore.
Flipkart two key units losses up 69%, revenue up 43%
Separately, Flipkart Internet, the India unit which runs the company’s marketplace business, has recorded a 40% rise in losses to Rs 1,624 crore fuelled by increased employee expense and advertising for the year ending March 31, 2019.
Paytm Mall’s losses contract 35% in FY19, revenue up 25%
While Paytm’s e-commerce unit was able to show a marked reduction in losses in FY19 while still growing revenue, the Softbank-backed company lags larger industry rivals- Flipkart and Amazon in terms of earnings.
Flipkart unit’s losses rise 40% to Rs 1,624 crore
The unit saw operating revenues increase by 51% to Rs 4,234 crore during the year as compared to FY18, according to filings obtained from the corporate affairs ministry.
Ambani readies India’s Alibaba with $24 billion holding firm
Ambani will set up a $24-bn holding firm that would become the main vehicle for his ecommerce plan.
Walmart plans to spin off PhonePe from Flipkart
The proposed demerger will coincide with PhonePe's ongoing fund raising plan of about a billion dollar through primary and secondary sale of shares.
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