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India’s appetite is increasing day by and day and the <keyword id="20676228" type="General" weightage="20" keywordseo="food-services-industry" source="keywords">food services industry</keyword> is on a sizzling plate, projected to grow by 10-12% annually for the next seven years, according to a recent study by <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> and <keyword id="19922375" type="General" weightage="20" keywordseo="Bain-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="Bain &amp; Company" meta.hostid="261" meta.entityid="Bain &amp; Company">Bain &amp; Company</keyword>. This translates to a potential customer base of 45 crore people by 2030! <keyword id="20039605" type="General" weightage="20" keywordseo="online-food-delivery" source="keywords">Online food delivery</keyword>, in particular, is expected to grow at an even faster rate with a compound annual growth rate of 18%. Fueled by a growing population, more eating-out occasions, and a wider variety of food options, India's culinary landscape is undergoing a delicious transformation — delicious for the service providers. But what of the consumers? While the study reveals a fascinating diversity in <keyword id="22275323" type="General" weightage="20" keywordseo="how-india-eats" source="Orion">how India eats</keyword>, it also indicates that the top 50, or Tier 1, cities presently account for 70% of food consumption. This wouldn’t be a problem if eating food from outside weren’t basically synonymous with eating unhealthy food. To exacerbate this problem, statistics suggest that this trend will soon seep into the Tier 2 and 3 cities of the country as well. Further, 70% of consumption came from upper-middle to high income households. As per the study, GenZ and other youngsters represent a significant chunk of the food consumption pie – a whopping 40%! <div type="Article" hostid="261" msid="109113406" title="Millennials and Gen Z&amp;#39;s trendy new splurge: groceries" mstype="2" mssubtype="0"></div>Growing up in the age of smartphones and social media, Gen Z is comfortable navigating the digital world to discover new restaurants and cuisines. They're not afraid to experiment, venturing beyond traditional family favorites and trying over three different cuisines and six restaurants in a year! While GenZ appreciates good food, they also prioritise value for money. Online food <keyword id="20039606" type="General" weightage="20" keywordseo="delivery-platforms" source="keywords">delivery platforms</keyword> allow them to compare prices and offerings before placing an order. Furthermore, this generation is expected to dine out more often as their disposable income increases. The rise of online food delivery has revolutionized the way India eats. It has not only extended our eating hours (think late-night cravings!). With changing lifestyles, mid-meal snacking is becoming a popular trend. This opens doors for innovative brunch and evening snack options, requiring restaurants to adapt their opening hours. Delivery platforms have seen an increase in people ordering food items like chicken biryani, fried rice, butter naan, masala dosa and Margherita pizza, among other things, during odd-hours of the day and night. Convenience, taste, and price are now the holy trinity of ordering decisions. Food delivery platforms have intensified competition by making restaurant discovery and comparison a breeze. However, the rise of these food delivery platforms can have a direct impact on the health of Indians, and judicious use of them is advised. <div type="Article" hostid="261" msid="111758782" title="Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier" mstype="2" mssubtype="0"></div>

Swiggy report says GenZ contributes to 40% of food consumption; highlights recent trend of binge-eating

As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

<ul class="summary-list"><li>PowerSchool sells student data without parents' informed consent, a federal lawsuit alleges.</li><li>The edtech giant calls the lawsuit's allegations "unfounded and inaccurate."</li></ul>It's been 10 years since Emily Cherkin helped her son log onto a school computer on his first day of Kindergarten."He can't even write his name. Why am I teaching a five-year-old control-alt-delete?" she remembers asking herself.Cherkin, a Seattle mother of two, former teacher, and author of the new parenting guide <a target="_blank" class="" href="https://www.google.com/search?q=emily+cherkin+the+screentime+solution&amp;rlz=1C5GCEM_enUS1094US1095&amp;oq=emily+cherkin+the+screentime+solution&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRigATIHCAUQIRigATIHCAYQIRirAtIBCTEwMzY5ajBqN6gCALACAA&amp;sourceid=chrome&amp;ie=UTF-8">"The Screentime Solution,"</a> is now the lead plaintiff in a class-action lawsuit that alleges the education technology giant PowerSchool is selling student data, including health and disciplinary records, to its third-party "partners," and doing so without the informed consent of kids or parents.The lawsuit, filed in May in federal court in San Francisco, takes on the world's largest provider of cloud-based software for K-12 schools.PowerSchool, based in Folsom, California, manages data and crunches it into what it calls "analytics and insights" for more than 60 million students and their educators, including <a target="_blank" class="" href="https://www.powerschool.com/global/north-america/united-states/">at 90 of the top 100 US school systems by enrollment size</a>.Boston-based private equity firm <a target="_blank" class="" href="https://www.businessinsider.com/rak-garg-bain-capital-ventures-youngest-partner-2024-7">Bain Capital</a> acquired PowerSchool for $5.6 billion in a deal finalized October 1. PowerSchool <a target="_blank" class="" href="https://www.powerschool.com/bain-capital/#:~:text=(%E2%80%9CPowerSchool%E2%80%9D%20or%20the%20%E2%80%9C,value%20of%20approximately%20%245.6%20billion.">CEO Hardeep Gulati said</a> the merger will help the company expand its award-winning products, including <a target="_blank" href="https://www.powerschool.com/powerschool-ai/powerbuddy/?utm_id=ps00032&amp;utm_campaign=powerschool_powerbuddy_paid-search__pkg00035&amp;utm_source=google&amp;utm_medium=paid-search&amp;utm_content=text-only&amp;_bk=powerbuddy&amp;_bt=702266406463&amp;_bm=e&amp;_bn=g&amp;_bg=161909434485&amp;cq_plac=&amp;cq_net=g&amp;cq_pos=&amp;cq_med=&amp;cq_plt=gp&amp;gad_source=1&amp;gclid=Cj0KCQjwsoe5BhDiARIsAOXVoUucdfp2kkZDiwXnqSDBRfimw6rztJoPhTxmV5nwd8F7Y9ZtUlGzj3IaAqMIEALw_wcB">PowerBuddy,</a> its new generative AI platform.With two parents and their children as sole plaintiffs, the Cherkin lawsuit may seem a small effort by comparison, but it's throwing big rocks.<a target="_blank" class="" href="https://www.documentcloud.org/documents/25260275-cherkin-v-powerschool-complaint-20240506">The lawsuit</a> caps Cherkin's decade of concern about children and screen time. It calls PowerSchool a "multibillion-dollar surveillance-technology empire." It demands that the company pay back untold millions of dollars earned by selling student data "products" to more than 100 of its <a target="_blank" class="" href="https://www.powerschool.com/company/partners/">partners</a>, including educational consulting firms and <a target="_blank" class="" href="https://www.documentcloud.org/documents/25259171-powerschool-guide-to-p20w">government policymakers</a>.One partner, an educational consulting firm, offers marketing guidance to colleges, trade schools, and the military based on data from the 6 million high school students who use PowerSchool's Naviance college-planning software, the lawsuit alleges."PowerSchool collects this highly sensitive information under the guise of educational support," the lawsuit alleges, "but in fact collects it for its own commercial gain," while hiding behind "opaque terms of service such that no one can understand."PowerSchool is throwing big rocks back.The days of "spiral-bound grading books" are long over, the edtech company's lawyers counter in <a target="_blank" class="" href="https://www.documentcloud.org/documents/25260257-cherkin-v-powerschool-motion-to-dismiss-20240722">a motion to dismiss</a> filed in July.The motion argues that PowerSchools is legally allowed to collect data voluntarily submitted by students and administrators, along with metadata about "unique device identifiers," IP addresses, and "cookie data."PowerSchool also argues that it "adequately discloses" what data it collects.PowerSchool spokesman Austin Zerbach told BI that no PowerSchool product sells any form of student data. "PowerSchool does not endorse or support any use of student educational records other than as agreed to by our customers, the schools and districts controlling the student education record, nor do we conduct targeted advertising with personal data of students," PowerSchool spokesman Zerbach said in a written statement.<h2 id="d912114d-9964-433f-80b6-1ed9123210db">A 345-terabyte trove of data</h2>The information PowerSchool collects from students is "virtually unlimited," the lawsuit says.It lists more than 50 kinds of data that PowerSchool says in public disclosures it "may" collect, including "extracurricular program membership" and "student assessments."<div type="image" title="Categories of data PowerSchool public disclosures mention the edtech company &quot;may&quot; collect." height="1076" width="766" msid="114945245" hostid="261" sizebytes="23708"></div>PowerSchool also tells users it may collect "student behavior data" and information about "physical and mental disabilities," according to the lawsuit.PowerSchool's "data trove" totals some "345 terabytes of data collected from 440 school districts," and includes information from nearly 20 edtech companies it has acquired since 2015, including Schoololgy and Kickboard, a "student behavior management and reporting program," the lawsuit alleges.What's done with the data?The lawsuit alleges that in addition to being aggregated into lucrative analytics "products" for third parties, it's used to "train its AI technologies," including a <a target="_blank" href="https://www.powerschool.com/powerschool-ai/powerbuddy/?utm_id=ps00032&amp;utm_campaign=powerschool_powerbuddy_paid-search__pkg00035&amp;utm_source=google&amp;utm_medium=paid-search&amp;utm_content=text-only&amp;_bk=powerschool%20powerbuddy&amp;_bt=702266406463&amp;_bm=e&amp;_bn=g&amp;_bg=161909434485&amp;cq_plac=&amp;cq_net=g&amp;cq_pos=&amp;cq_med=&amp;cq_plt=gp&amp;gad_source=1&amp;gclid=CjwKCAjw-JG5BhBZEiwAt7JR6wXcuxvpa0vkLTae4QJjMPAdsAXLaqF5-fArp6Ea0cuLbThmuvw7YBoCCiwQAvD_BwE">PowerBuddy</a> chatbot marketed not only to educators but to "state officials" for the purpose of "workforce planning," the lawsuit alleges.<div type="image" title="PowerSchool also publicly discloses that it may collect &quot;student behavior data&quot; and records of &quot;physical and mental disabilities,&quot; the Cherkin lawsuit alleges." height="1512" width="822" msid="114945247" hostid="261" sizebytes="38602"></div><h2 id="58f65212-0185-4112-b583-39eb1ada3ba6">The data is anonymized</h2>The data shared with third parties is anonymized, but the lawsuit raises concerns that it is so "granular" that it can be reverse-engineered to identify individual students."There are data brokers — they're called identity-resolution companies — that collect information from internet users, re-identify the data, and then sell it," said attorney Julie Liddell, whose Austin, Texas-based <a target="_blank" class="" href="https://edtech.law/about-us/">EdTech Law Center </a>represents Cherkin in the suit.Technology can easily re-identify anonymized student data, said Chad Marlow, senior policy counsel at the ACLU, where he focuses on privacy, surveillance, and technology issues."A generation ago, the most private student data was kept in a locked steel file cabinet in the principal's office, and it was very hard to share that information," Marlow said. "Nowadays the ability to share and reshare that data can be as easy as pressing a key on a keyboard."<div type="image" title="PowerSchool's marketing of student data systems to state government agencies." height="2394" width="1955" msid="114945234" hostid="261" sizebytes="89902"></div>Among the "products" PowerSchool offers educators, policymakers, and government agencies is its <a target="_blank" class="" href="https://www.powerschool.com/college-career-and-life-readiness-cloud/connected-intelligence-p20w/">"P20W Cradle-to-Career State Data Systems."</a>Its data is touted as "longitudinal," captured from the same students from K-12 through post-secondary education and into the workforce.<div type="image" title="PowerSchool markets &quot;efficient access to both historical and current data&quot; from students to government agencies." height="1486" width="1744" msid="114945238" hostid="261" sizebytes="109230"></div>"It's telling state and local governments, 'You will not get a more robust picture of children, starting from their earliest days,'" said Liddell."And this is not just for educational services," she told BI. "It's for workforce planning, for healthcare planning, for juvenile justice and law enforcement planning," she said.PowerSchool's motion to dismiss the lawsuit, including on grounds that it misapplies the law and fails to state "actual damages," will be argued in San Francisco on Thursday before US District Judge James Donato."The claims made in the complaint are unfounded and inaccurate," Zerbach, the PowerSchool spokesman, told BI.The company "strictly and proactively follows all legal, regulatory, and voluntary requirements for <a target="_blank" class="" href="https://www.powerschool.com/privacy/">protecting student privacy</a>," the statement said, pointing to PowerSchool's online "<a target="_blank" class="" href="https://www.powerschool.com/blog/commitment-to-protecting-student-data-privacy/">commitment to protecting student data privacy.</a>""No PowerSchool product, including Connected Intelligence P20W, sells any form of student data," the spokesman said. "Connected Intelligence P20W provides a unified, secure, and integrated platform for education and government agencies to securely unify, integrate, and access their own source system data in a state-specific data cloud. As with all PowerSchool products, only authorized users have data access with stringent data governance as defined by the state agency. "PowerSchool began selling software to help schools track grades, attendance, and enrollment in 1996.Apple purchased the company for $62 million in 2001, then sold it to Vista Equity Partners in 2015. Vista Equity retains a minority investment stake, as does Onex Partners, according to PowerSchool's Bain merger announcement.When the deal closed on October 1, shares of the edtech leader, which had been trading as PWSC, were delisted from the NYSE.The Bain-PowerSchool deal comes on the heels of global investment firm KKR &amp; Co. Inc's $4.8 billion acquisition of the Salt Lake City-based edtech firm Instructure Holdings, Inc., <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/instructure-to-be-acquired-by-kkr-for-4-8-billion-302206622.html">announced in July.</a>"It's unsurprising that private equity firms are increasingly interested in acquiring companies that have access to troves of highly valuable data," Liddell told BI.As a private company, "they will no longer be legally bound to make even the minimum disclosures required by a public company," she said.A spokesperson for Bain Capital did not respond to a request for comment on this story.

A lawsuit accuses Bain Capital's PowerSchool of trafficking in student data. The edtech giant says everything it does is legal.

<ul class="summary-list"><li>PDD Holdings' stock plummeted 29% Monday after a bleak outlook due to competition and consumer shifts.</li><li>The company faces challenges from changing demand, intensifying competition, and global uncertainties.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/why-gen-x-boomers-love-temu-2024-1">Temu parent</a> PDD Holdings' stock plunged after the Chinese e-commerce giant signaled a bleak outlook.PDD stock fell nearly 29% on Monday, the most on record, after the company reported second-quarter earnings.The company reported about $4.4 billion in profits in the quarter, a 144% increase compared to last year. But co-CEO Chen Lei said investors should expect a decline in profits moving forward."We are seeing many new challenges ahead, from <a target="_blank" class="" href="https://www.businessinsider.com/temu-opens-its-marketplace-to-us-based-sellers-2024-3">changing consumer demand</a>, intensifying competition, and uncertainties in global environment," Chen said on an earnings call on Monday.PDD competes with ByteDance's TikTok shop, Alibaba, and Shein, all of which <a target="_blank" class="" href="https://www.businessinsider.com/what-is-shein-billion-dollar-fast-fashion-company-explained-2023-7">target fast-fashion shoppers</a>. Temu also sells low-cost products ranging from home goods to motorcycle accessories.Chen added that consumers are increasingly ditching material purchases for experience-based ones and that they want quality and value purchases.<h2 id="0c4e1524-6948-454a-999d-739b9e0cdaea">Carrots for good merchants</h2>Chen said that the company would "tackle low-quality" merchants by offering transaction fee reductions for higher-quality vendors.Chen repeatedly said that this is the right path for the company, even if it affects profits in the short term."On one side, we must ensure strict oversight of product quality to prevent substandard goods and protect consumer rights. On the other side, we must ensure fairness so that dedicated high quality merchants can earn meaningful rewards," the co-CEO said.Chen's remarks come amid a series of <a target="_blank" class="" href="https://www.businessinsider.com/temus-office-besieged-chinese-suppliers-protesting-refund-policy-2024-7">protests from Temu suppliers.</a>Hundreds of suppliers thronged Temu's Guangzhou, China, office in rallies this month, protesting fines and refund policies they said were destroying small merchants' profits. Temu, which <a target="_blank" class="" href="https://www.businessinsider.com/temu-is-on-a-quest-to-take-over-america-2024-2?utm_medium=referral&amp;utm_source=yahoo.com">surged in popularity in the US</a> because of its cheap clothing and home decor items, fines merchants if they receive refund requests or customer complaints."We sense PDD highlighting its intention to invest in 'good merchants' is aimed to appease some of its unhappy sellers complaining about ill-treatment by the platform," Jialong Shi, an analyst at Nomura, wrote in a note on Tuesday.The analyst maintained a Buy rating on the company and noted that the 29% decline may have been an overreaction.

Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

<ul class="summary-list"><li>YouTube launched a gifting feature for its vertical livestreams, mirroring TikTok's model.</li><li>ByteDance, which owns TikTok, has dominated e-commerce in China.</li></ul>YouTube is adding a "gifting" feature for vertical livestreams that allows users to purchase digital gifts for streamers, similar to a feature that fuels livestream sales on TikTok.Creators who receive the gifts through the program will earn "rubies," which are redeemable for one cent each, the company said in its announcement this week.TikTok's LIVE Gifts feature operates similarly. It lets app users purchase "coins" that can be used to buy virtual gifts of monetary value for livestreaming creators. Creators on TikTok who receive the gifts can also earn "diamonds," which the company <a target="_blank" class="editor-rtfLink" href="https://support.tiktok.com/en/live-gifts-wallet/tiktok-live/live-gifts-on-tiktok">rewards based on the popularity</a> of the livestream. Users can use diamonds to obtain "reward payments" from TikTok in the form of money or virtual items.E-commerce through livestreaming platforms has become a lucrative and competitive channel for revenue. In 2022, total US e-commerce sales exceeded $1 trillion, Forbes reported. Live shopping accounted for about $20 billion of that. Livestream e-commerce in the United States is expected to grow to $68 billion by 2026, according to Statista, a data research firm.TikTok parent company ByteDance has dominated livestreaming e-commerce in China through TikTok's sister app, Douyin. Douyin generates <a target="_blank" class="editor-rtfLink" href="https://affiliate.insider.com?h=e54b484532789f314b635c6d0830451432638ce3089beed16d5b0b23d8dfe87c&amp;postID=6736796a12ccc579828c6ef5&amp;postSlug=youtube-gifting-feature-tiktok-livestream-e-commerce-competition-2024-11&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiktok-parent-bytedances-e-commerce-volume-surged-in-2022-internal-data-show">hundreds of billions</a> in annual sales, primarily through influencer livestreams. Over the last few years, ByteDance has expanded its e-commerce footprint into the rest of the world's markets through TikTok.The TikTok Shop also lets creators <a target="_blank" class="" href="https://partner.us.tiktokshop.com/">partner with the app</a> to sell their own products and other products through affiliate links. Last month, TikTok <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/tiktok-shop-us-partner-summit-live-shopping-and-douyin-ruled-2024-10">gathered 300 TikTok Shop partners</a> in a hotel near its office in Culver City, California, for its first e-commerce summit in the United States. The creators participated in feedback sessions with TikTok staffers and shared ideas on influencer affiliate marketing, with live selling the focus of the event, five attendees previously told Business Insider.Google is also looking to expand its own shopping feature. YouTube Shopping allows creators to make "collections" of products that viewers can purchase. YouTube shopping is available in the United States and China, and Google expanded the feature to Indonesia this week, the company said in a release.To grow its market share, Google is incentivizing creators to get in on YouTube's new gifting feature early. The company said eligible creators can receive a 50% bonus on received gifts of up to $1,000 for the next three months.Gifts on vertical YouTube livestreams will appear as an overlay on the livestream video, "enhancing the live experience and creating a new way for you and your viewers to interact and have fun," Google said.

YouTube has added a 'gifting' feature to its vertical streams, ramping up the competition for livestream e-commerce

Over 60 per cent of businesses surveyed are "off track" to meet their <keyword id="49089" type="General" weightage="20" keywordseo="sustainability" source="Orion">sustainability</keyword> goals, according to a report by Bain &amp; Company, which also found that <keyword id="60468" type="General" weightage="20" keywordseo="consumers" source="Orion">consumers</keyword> are willing to shell out a premium for sustainable products. According to the report, a large number of people surveyed in India say they have a high level of concern about environment sustainability. This could be driven by the spiking levels of <keyword id="13001" type="General" weightage="20" keywordseo="pollution" source="Orion">pollution</keyword> in major cities and the rising incidence of flash floods in different parts of the country. Consumers in fast-growing markets, where Bain found <keyword id="6422456" type="General" weightage="20" keywordseo="environmental" source="Orion">environmental</keyword> concerns to be highest, including India, were willing to pay a greater premium (between 15 and 20 per cent), compared to markets like the US and the UK. The report further said that an Indian consumer, however, is still at an early stage of understanding sustainability and a number of related behaviours are influenced by cultural norms and <keyword id="44477" type="General" weightage="20" keywordseo="financial" source="Orion">financial</keyword> realities. "As extreme weather prompts growing environmental concern across the globe, new research from Bain &amp; Company shows more than 60 per cent of businesses are off track to meet their current sustainability goals," it said. Progress will require a combination of technology, policy, and behaviour change, the report said, adding that an increasingly conscious base of consumers and employees may prove helpful. To get a broad sense of environmental concerns around the world, Bain surveyed 23,000 consumers, and the results underscored the growing urgency of sustainability topics. Almost 64 per cent of people reported high levels of concern about sustainability, and most said their worries have intensified over the past two years and that their concern was first prompted by extreme weather. The report also revealed that a large number of people surveyed in India said they have a high level of concern about environment sustainability. "They are seemingly driven to live or shop sustainably first and foremost by direct benefits around savings and health rather than environmental concern. Consumers express a greater interest in quality, how a product can be reused, its durability, and how it will minimise waste," it said. Karan Singh, Partner and head of the Asia Pacific Sustainability practice at Bain &amp; Company, said while Indian consumers show growing interest in sustainability, there's a noticeable gap between intent and action, mainly due to factors like high prices, limited product information and availability. "This presents a distinct opportunity for businesses to take the lead by educating consumers and innovating to offer sustainable products at attractive prices," Singh said. Consumers' willingness to pay a premium for sustainable products and baby boomers being just as concerned as Gen Z, were the other key takeaways from the report. "As concerns grow, consumers are looking to make environmentally sound choices and are willing to pay more for sustainable products. Yet, they often run into barriers," it said. For instance, consumers in the US are willing to pay an average premium of 11 per cent for products with a minimised environmental impact, even as the average premium for products marketed as sustainable there is 28 per cent. "Consumers in fast-growing markets, where Bain found environmental concerns to be highest - such as India, Indonesia, Brazil, and China - are willing to pay an even greater premium, between 15 and 20 per cent. Consumers in the UK, Italy, Germany, and France, on the other hand, are only willing to pay between 8 and 10 per cent extra," the report said.

60 pc of businesses 'off track' to meet sustainability goals: Bain & Company report

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

<ul class="summary-list"><li>Bolt founder Ryan Breslow proposes returning as CEO with a $2 million bonus and $1 million back pay.</li><li>Breslow left Bolt in 2022 due to investor conflicts and has since run wellness marketplace Love.</li></ul>Bolt's founder and ex-CEO wants to return to the driver's seat — and he's asking for a hefty payday to come back.<a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">Ryan Breslow,</a> who founded <a target="_blank" class="" href="https://www.businessinsider.com/ryan-breslow-startup-bolt-raising-new-funding-14-billion-valuation-2022-1">e-commerce software startup Bolt</a> a decade ago, proposed a deal to investors this week, The Information and <a target="_blank" class="" href="https://www.newcomer.co/p/bolts-audacious-letter-to-investors">Eric Newcomer </a>reported Tuesday.The terms of the funding round were highly unusual, including a $2 million bonus for returning and $1 million in back pay for the two years he was away from the company, the outlets reported, citing a private equity partner who was involved in the deal. The partner has since said that his firm is no longer involved.Breslow left the company in early 2022 because of conflicts with investors. The 30-year-old entrepreneur's <a target="_blank" class="" href="https://www.forbes.com/sites/sarahemerson/2024/03/11/the-billion-dollar-unraveling-of-ryan-breslow/">career</a> has been marked by controversy, including lawsuits, a fight with an early investor, and a <a target="_blank" class="" href="https://www.businessinsider.com/bolt-ceo-calls-stripe-ycombinator-mob-bosses-twitter-silicon-valley-2022-1">public spat</a> with competitor Stripe and Y Combinator.Bolt's interim CEO Justin Grooms wrote in a letter to investors reviewed by The Information that the company was raising $450 million in a Series F round that would value Bolt at over $14 billion. According to Newcomer, Bolt's annualized run-rate revenue was $28 million, and its gross profit was $7 million.The deal comes with several other eyebrow-raising clauses that would further benefit Breslow, reported Newcomer and The Information:<ul><li>Breslow would get an option to sell 10% of his shares and the right to purchase Bolt subsidiaries conscious.org and <a target="_blank" class="" href="https://www.businessinsider.com/four-day-workweek-company-bolt-productivity-jobs-fridays-weekends-2022-3">fourdayweek.com </a>from the company for $1 at any time. Breslow had <a target="_blank" class="" href="https://www.businessinsider.com/how-bolt-made-change-4-day-work-week-top-exec-2022-1">championed a four-day workweek</a>.</li><li>He would also get a new equity grant that would be "no less than the 90th percentile of CEO equity compensation packages of similar companies in Bolt's industry."</li><li>If Bolt hits a $50 billion valuation in a $100 million or greater fundraise, Breslow would receive an additional stock grant of 5% of the issued and outstanding Bolt shares.</li><li>The company would partner with Love, a wellness marketplace run by Breslow since he was ousted from Bolt.</li><li>Bolt would invest $10 million into The London Fund, a venture capital firm that appears to be one of the main investors in its current funding round. The Information reported Breslow is a director at the fund, which also invested in Love.</li></ul>Bolt's investors were also told that they would need to chip in more money for this funding round. If they fail to do so, Bolt would buy most of them out for one cent a share, a particularly aggressive "pay-to-play" move in the startup world, reported Newcomer.The proposal requires approval from an investor majority, and shareholders have from late Monday to Wednesday to decide, reported The Information.Bolt's prior investors include BlackRock, Sequoia Capital, Founders Fund, and Intuit, per PitchBook. Neither Bolt nor Breslow immediately responded to Business Insider's requests for comment, sent outside standard business hours.

E-commerce startup Bolt wants to raise new money under aggressive terms that could make its once-ousted founder rich, reports say

<ul class="summary-list"><li>TikTok just hosted its first summit for its US e-commerce partners.</li><li>The company spent much of the event pushing TikTok Shop partners to test out live selling.</li></ul>TikTok is gearing up for the holiday season on its e-commerce platform <a target="_blank" class="" href="https://www.businessinsider.com/how-to-sell-on-tiktok-shop">TikTok Shop.</a>A couple of weeks ago, around the first anniversary of the product's US launch, <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-is-betting-its-future-on-e-commerce-should-it-2024-7">TikTok</a> gathered roughly 300 Shop partners across 200 agencies in a hotel near its Culver City office for its first invite-only partner summit.The group attended panels, participated in feedback sessions with <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-bytedance-salaries-jobs-careers-data-product-engineering">TikTok staffers</a>, and shared ideas on influencer affiliate marketing and paid and earned media tactics. But live selling was the clear focus of the event, five partners who attended told Business Insider. Across sessions, TikTok staffers and agency partners talked about how to find studio space for livestreams, as well as what was needed to build up a live selling operation."Probably 60% to 70% of the discussion was around livestream," said Jake Bjorseth, founder of the marketing firm Trndsttrs, who attended the summit.A second partner who attended the event described its content as "live, live, live." This person, as well as several others, were granted anonymity to protect their business relationships with TikTok. Their identities are known to BI.Why was TikTok so focused on <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-shopping-livestream-career-change-income-essay-2023-12">livestreams</a> at its first US Shop partner summit?Well, for one, TikTok has had a string of blockbuster live-selling events in the US and UK this year, during which companies like beauty brand P.Louise and Stormi Steele's Canvas Beauty sold more than $1 million in goods in a single stream, according to TikTok.The invite list for the summit may have also played a role in focusing the discussion around live selling. Several of the attendees were partners who had expertise selling on TikTok's China-based sister app Douyin, which generates <a target="_blank" href="https://affiliate.insider.com?h=e54b484532789f314b635c6d0830451432638ce3089beed16d5b0b23d8dfe87c&amp;postID=66fd4dc9d8616474985bae44&amp;postSlug=tiktok-shop-us-partner-summit-live-shopping-and-douyin-ruled-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiktok-parent-bytedances-e-commerce-volume-surged-in-2022-internal-data-show">hundreds of billions</a> in sales each year, primarily through influencer livestreams. These partners offered advice on what's worked well for social shopping in Asia, and discussed potential cross-border partnership opportunities, three Shop partners in attendance told BI.A TikTok spokesperson declined to comment for this story.<h2 id="edfdcf23-8819-4c48-80e0-5a19879826a2">What works on Douyin won't necessarily take off on TikTok Shop</h2>Strategies that are successful on Douyin often <a target="_blank" class="" href="https://www.businessinsider.com/whats-next-for-tiktok-look-at-china-douyin-2022-1">end up on TikTok next</a>, and the two companies, which operate independently under parent company ByteDance, have been sharing ideas a lot lately.Last month, Douyin and ByteDance invited TikTok Shop partners to visit the Chinese cities Shanghai and Hangzhou to meet regional social-commerce partners and see the studios they use to film shopping content. Digital ad firm adQuadrant was among a handful of companies selected for the visit, according to its CEO Warren Jolly, who spoke at TikTok's US partner summit.Of course, live-selling tactics on Douyin won't necessarily translate well to TikTok in the US. Social shopping has been sluggish to take off in North America compared to Asia, as <a target="_blank" class="" href="https://www.businessinsider.com/startups-bringing-social-shopping-into-mainstream-in-the-us-2023-11">bringing consumer shopping behaviors</a> across borders can be difficult."If you've lived in China, you're Chinese origin, you've built this business over the last seven years focused on live shopping and social commerce," Jolly said. But that expertise selling in China may not help US sellers facing a much different e-commerce reality, he added. "Yes, live shopping is important. We understand that it's going to become pervasive in the Western world and the US market. But it's not going to be at the same modality of what's happening in China."Other TikTok Shop partners who spoke with BI agreed that the emphasis on livestreams and comparisons to the Asian market at the event weren't particularly useful when a lot of their TikTok Shop sales currently come from influencer videos rather than livestreams."I can tell you that we walked out of that [summit] and said, 'Oh, that's a cool opportunity in livestream,' but the actual financials don't make sense for most agencies," Bjorseth said.TikTok's ability to replicate Douyin's live-shopping success in the US may be tough, even as the company has been gaining on its e-commerce competitors in <a target="_blank" class="" href="https://www.businessinsider.com/how-to-sell-on-tiktok-shop">sales and repeat purchases</a> in recent months. E-commerce in the US is dominated by non-social-media players like <a target="_blank" class="" href="https://www.businessinsider.com/top-selling-products-during-prime-day-for-amazon-influencers-2023-7">Amazon</a> and Walmart, both of which work with influencers on livestreams or affiliate programs but predominantly drive sales through other means.Still, there are some signs that livestream shopping is on the rise outside of Asia. Whatnot, a live-shopping platform in North America and Europe, said in an October report that it's crossed $2 billion in gross merchandise volume from livestream sales conducted in 2024.Ultimately, TikTok's e-commerce momentum may be abruptly cut short, however. A US divest-or-ban law passed in April could force a sale or ban of TikTok's app in the US. TikTok is currently <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-justice-department-federal-appeals-court-law-ban-expert-2024-9">challenging the law</a> in court. Several attendees said the prospect of a ban wasn't brought up at the company's TikTok Shop partner summit.

TikTok is training its e-commerce partners on what's worked in China as it doubles down on live selling

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> bucked the global trend with strategic merger and acquisition (M&amp;A) deal volume and value reaching all-time highs in 2022, a report showed on Tuesday. Record levels of cash and availability of assets helped deliver a boom with deal volume up 36 per cent and deal value up 139 per cent in 2022, according to <keyword id="205571" type="General" weightage="80" keywordseo="bain" source="Orion">Bain</keyword> &amp; Company's annual report. "We have seen four straight years of growing deal volume and value, with 2022 setting another record year. This is in stark contrast to the mood and momentum in the rest of the world," said <keyword id="6197" type="General" weightage="80" keywordseo="karan-singh" source="Orion">Karan Singh</keyword>, managing partner, Bain and <keyword id="1969426" type="General" weightage="50" keywordseo="company-india" source="Orion">Company India</keyword>. The strong M&amp;A activity was seen across sectors, including financial services, utilities, manufacturing, and healthcare. Environmental, social, and governance (ESG) is a new theme and India is emerging as a hotspot for renewable energy, Singh added. Consumer tech has seen the highest start-up consolidation, followed by edtech and fintech. "M&amp;A activity is strong across the board, from conglomerates acquiring new value creation engines, to insurgents buying into new segments and acquiring new capabilities," said <keyword id="12780795" type="General" weightage="80" keywordseo="vikram-chandrashekhar" source="Orion">Vikram Chandrashekhar</keyword>, partner, Bain &amp; Company. Additionally, India is becoming a prime alternative for global companies that are eager to diversify their supply chains. "Close to 65 per cent of executives we surveyed have said they expect M&amp;A activity to stay strong in 2023, this is significantly higher than the global average of 37 per cent," said Chandrashekhar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/indian-economy-projected-to-grow-between-6-6-8-in-fy24-says-economic-survey-2023/articleshow/97489284.cms">Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/capital-expenditure-target-of-7-5-lakh-crore-for-fy23-to-be-met-economic-survey/articleshow/97489810.cms">Capital expenditure target of ₹7.5 lakh crore for FY23 to be met: Economic Survey</a>

India emerged as global M&A hotspot in 2022: Bain & Company report

India has witnessed the fastest jump in alternative payment share for <keyword id="21422684" type="General" weightage="100" keywordseo="e-commerce-payments" source="keywords">e-commerce payments</keyword> in the <keyword id="20122305" type="General" weightage="20" keywordseo="Asia-Pacific-region" source="keywords">Asia-pacific region</keyword> from 20.4% in 2018 to 58.1% in 2023 as per a report by GlobalData, a data and analytics company. Options for payment other than traditional cash include <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>, <keyword id="6354770" type="General" weightage="20" keywordseo="debit-cards" source="Orion">debit cards</keyword> and <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> among others. "This significant uptake of alternative payment solutions can be attributed to the widespread usage of <keyword id="21223853" type="General" weightage="20" keywordseo="mobile-wallets" source="keywords">mobile wallets</keyword>, largely driven by UPI, which facilitates mobile payments in real-time simply by scanning <keyword id="19993724" type="General" weightage="20" keywordseo="QR-codes" source="keywords">QR codes</keyword>," GlobalData report elaborated. The report highlights that in the Asia-Pacific (APAC) region, the payment solutions such as mobile and digital wallets have displaced traditional payment methods like cash and bank transfers for e-commerce payments. The report states that such alternative payments are already immensely popular in countries like <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> and India and are also gaining traction in other APAC markets as well. However, China led the way in 2023, with alternative payments accounting for nearly two-thirds of the total e-commerce payments value in 2023 that took place in the entire Asia Pacific region. However, India is also not far behind, with a significant surge in alternative payment methods since 2018. The e-commerce analytics by the company revealed that even traditionally cash-intensive countries in APAC such as the Philippines, Malaysia, and Indonesia, are witnessing a similar trend. "While most Asian markets are traditionally cash-dominated, the adoption of alternative payment methods for both online and in-store payments is growing across many markets in the region, even outpacing the West. This trend is driven by the rising smartphone and internet accessibility, increasing convenience of electronic payments, and the proliferation of mobile and QR code-based payment solutions" said Shiv Gupta, Senior Banking and Payments Analyst at GlobalData. The report also highlights that within the Asia-Pacific region, China and India have a higher adoption rate of alternative payment methods as compared to their peers. According to the company's 2023 Financial Services Consumer Survey, alternative payment solutions account for more than 65% of the e-commerce transaction value in China, the largest e-commerce market globally. It represents a significant increase from 53.4% in 2018. Other Asian markets like Indonesia, Hong Kong, Singapore, and the Philippines are also seeing higher adoption of alternative payment solutions. "Alternative payment solutions accounts for lion share in e-commerce markets across many APAC countries, supported by rising internet and smartphone penetration, and growing acceptance of digital payments by merchants. With the convenience, speed, and security they offer, coupled with high expected growth in the overall e-commerce market in the region, these payment tools are anticipated to further gain traction and disrupt the consumer payment space in the region" said Gupta.

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

New Delhi, Banking issues like reluctance to process <keyword id="6358355" type="General" weightage="20" keywordseo="forex" source="Orion">forex</keyword> received through alternate channels and high processing fees are hindering the growth of <keyword id="7848945" type="General" weightage="20" keywordseo="e-commerce-exports" source="Orion">e-commerce exports</keyword> from India, and there is a need to bring mindset change to unlock the sector's potential, a report by think tank GTRI said on Monday. Unlocking India's e-commerce export potential to USD 350 billion by 2030 requires addressing banking issues that hinder growth and increase operational costs, the Global Trade Research Initiative (GTRI) said. "To initiate change, both the RBI and banks must shift their mindset towards treating small-value exports differently from larger ones. This shift is essential to prevent misuse while streamlining processes. Without this fundamental change, any reforms attempted by the RBI and banks will fall short," it said. Small e-commerce businesses often face challenges because banks are not equipped to handle low-value transactions efficiently, it added. The key issues include reluctance to process forex through alternate channels, high processing fees, incorrect purpose code allocation, and limitations in the RBI's EDPMS (Export Data Processing and Monitoring System). The Reserve Bank of India tracks export payments and reconciliation through its Export Data Processing and Monitoring System. "Banks are happy to process forex received through bank transfers but reluctant to process forex received through foreign currency cheques, payment gateways like PayPal, credit cards, <keyword id="151105" type="General" weightage="20" keywordseo="western-union" source="Orion">Western Union</keyword>, cash receipt when a buyer selects item live in the retail shop," it said. Banks delay crediting forex received in a firm's account when payments are received through such channels, and this affects cash flow and hampers business operations, the report noted. Banks charge money multiple times at different stages for the same small-value shipment, it added. Elaborating this, it said that essential charges include charges for submitting shipping bills (Rs 80 to Rs 2,000) at the time of forex realisation (1-to-2.5 per cent of value), intermediary bank charges during forex transfers (USD 10 to USD 55 per transaction), penalties for bills pending at EDPMS (Rs 100 per shipping bill per month). "Most charges are fixed for a transaction irrespective of value. Bank charges can exceed 50-60 per cent of the shipment value. This makes e-commerce exports commercially unviable," it said, adding banks allocate purpose codes for each remittance but frequently issue incorrect codes. For example, purpose code P0103, meant for advance payments, is often assigned even when exports have already occurred and the firm has submitted proof. Incorrect allocation of purpose codes by banks leads to reconciliation problems, EDPMS pendency issues, and issuance of notices and fines on exporters. The RBI issues notices to exporters for EDPMS defaults but does not give them direct access to view their records, as per the report. "Exporters must rely on banks/DGFT for critical data, leading to unnecessary delays and complications," GTRI co-founder <keyword id="504704" type="General" weightage="50" keywordseo="ajay-srivastava" source="Orion">Ajay Srivastava</keyword> said. The report suggested eight action points, such as the creation of a single window platform for e-commerce and small-value shipments, standardise bank charges, defining a time limit for banks to complete all small export-related requests by the RBI, and exempting shipment value up to USD 1,000 per shipment from monitoring till the single window is implemented. It also pitched for an extension of the timeline for EDPMS closure from the current nine months to 24 months and redesign the courier shipping bill to reflect correct payment terms. On the single window, Srivastava called for integrating the RBI, banks, Customs, DGFT, India Post, courier companies and exporters. "This platform should cover all realisation methods other than bank transfers. The exporter should be able to conduct all transactions online. SW will automate the EDPMS reconciliation process," he added. He said that high processing fees and multiple charges at different stages of exporting hurt small businesses the most, and the banks should charge a one-time fee for each shipment instead of further charges at various stages. "The government could subsidise these fees to ease the financial burden on small exporters," the report said, adding there is a need to raise the export realisation variation limit from 25 per cent to 100 per cent.

You Searched For "bain company ecommerce report" and got 12 results

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Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

Shubhangi Goel

YouTube has added a 'gifting' feature to its vertical streams, ramping up the competition for livestream e-commerce

Kenneth Niemeyer

60 pc of businesses 'off track' to meet sustainability goals: Bain & Company report

PTI

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

PTI

E-commerce startup Bolt wants to raise new money under aggressive terms that could make its once-ousted founder rich, reports say

Shubhangi Goel

TikTok is training its e-commerce partners on what's worked in China as it doubles down on live selling

Dan Whateley

India emerged as global M&A hotspot in 2022: Bain & Company report

IANS

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

ANI

Banking issues hinder growth of exports through e-commerce: GTRI report

PTI

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