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Ecommerce stories, news, articles, videos, slideshows, images, and web stories. Business Insider India is providing latest and consolidated news related to the Ecommerce category.

Ecommerce Stories, News, Articles, Videos, Slideshows and Web Stories

The <keyword id="6355040" type="General" weightage="20" keywordseo="GST-Council" source="Orion">GST Council</keyword> approved the amendments in the GST Act and GST Rules for allowing unregistered suppliers and composition taxpayers to make intra-state supply of goods through <keyword id="35621" type="General" weightage="20" keywordseo="E-COMMERCE" source="Orion">E-Commerce</keyword> Operators (ECOs), subject to certain conditions. Appreciating wholeheartedly the major decision of the GST Council to allow small <keyword id="8112933" type="General" weightage="20" keywordseo="unregistered-vendors" source="Orion">unregistered vendors</keyword> to sell their goods through e-commerce portals, the <keyword id="76562" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="Orion">Confederation of All India Traders</keyword> (CAIT) on Saturday thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for this "progressive decision" which was demanded by CAIT since last more than two years. CAIT national president B.C. Bhartia and Secretary General Praveen Khandelwal said this decision will empower small traders who are below GST threshold limit to expand their business through e-commerce and will strongly strengthen Digital India vision. There are more than 8 crore small traders in the country but a large number of traders are conducting business activities without GST registration since their annual sale is below the GST threshold limit. Such traders will now be able to trade on e-commerce. Earlier, GST Council in its 47th meeting had granted in-principle approval for allowing unregistered suppliers and composition taxpayers to make intra-state supply of goods through ECOs, subject to certain conditions. CAIT said that India is fast emerging as the e-commerce hub and there is tremendous growth in online business. E-commerce business in India is now approximately 10 per cent of total retail. "In view of this it was extremely pertinent that small vendors, those who have small turnovers and do not fall under the purview of the GST, were not able to conduct online business, thus causing huge loss of market and business opportunities," a statement said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gst-council-meet-decriminalisation-tax-evasion-in-pan-masala-gutkha-biz-on-agenda/articleshow/96297108.cms" style="">GST Council meet: decriminalisation, tax evasion in pan masala, gutkha biz on agenda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-motors-subsidiary-to-operate-921-electric-buses-in-bluru/articleshow/96294242.cms" style="">Tata Motors subsidiary to operate 921 electric buses in B'luru</a>

GST Council to allow e-commerce for unregistered vendors

<ul> <li>Until August, <keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> recorded over 30 billion transactions worth Rs 51.74 trillion for FY23. </li><li><keyword id="7998786" type="General" weightage="20" keywordseo="Online-payment-fraud" source="Orion">Online payment fraud</keyword> includes losses across the sales of digital goods, physical goods, money transfer transactions and banking, as well as airline ticketing and other purchases. </li><li>A report recommended that fraud prevention vendors focus on building platforms providing AI-powered risk-based scoring to best suit changing market conditions.</li></ul> Triggered by the growing use of digital wallets, the total cost of e-commerce fraud to merchants is likely to exceed $48 billion globally in 2023, from just over $41 billion in 2022, a report showed on Wednesday. This growth will be accelerated by the increasing use of alternative payment methods, such as digital wallets and BNPL (buy-now-pay-later), which are creating new fraud risks. In <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, the Unified Payments Interface (UPI) reported another record high in August, with 6.57 billion transactions, amounting to Rs 10.72 trillion. In FY23 (till August) UPI recorded over 30 billion transactions worth Rs 51.74 trillion. Online payment fraud includes losses across the sales of digital goods, physical goods, money transfer transactions and banking, as well as purchases like airline ticketing. Fraudster attacks can include phishing, business email compromises and socially engineered fraud. "To combat this fraud, e-commerce merchants must implement simple steps such as address verification, combined with risk-based scoring on transactions, which will allow merchants to best mitigate the massive fraud threats present," suggested research author <keyword id="12585121" type="General" weightage="80" keywordseo="nick-maynard" source="Orion">Nick Maynard</keyword>. The report recommended that fraud prevention vendors focus on building platforms providing AI-powered risk-based scoring, which can be payment method agnostic, to best suit changing market conditions. Additionally, the research found that the potential for fraud with BNPL is a major risk going forward. Given the delayed nature of BNPL payments, fraudsters can make several illegitimate payments using stolen card details before the fraudulent activity is identified, creating significant risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ready-to-talk-with-startups-to-address-their-concerns-and-prevent-them-from-moving-out-of-india-sitharaman/articleshow/94800585.cms">Ready to talk with startups to address their concerns and prevent them from moving out of India: Sitharaman</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mixture-of-factors-may-shake-indias-sovereign-ratings-sp-global/articleshow/94807074.cms">Mixture of factors may shake India's sovereign ratings: S&amp;P Global</a>

E-commerce losses due to online fraud to exceed $48 bn globally

Reliance Retail-based <keyword id="3275685" type="General" weightage="80" keywordseo="dunzo" source="Orion">Dunzo</keyword>s B2B logistics arm, Dunzo for Business (D4B), on Thursday announced its partnership with the governments Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>) to provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are very happy to have a strong logistics provider like Dunzo for Business on the ONDC network. This partnership will accelerate our efforts to make last-mile logistics accessible to a wider audience of buyers and sellers across India," said T Koshy, CEO, ONDC. D4B's key merchants include Fynd, Wellness Forever, DotPe, EatClub and Magicpin, among others. "Starting our journey with key metros, we will scale our services to more cities and become the backbone for intra-city deliveries in the Indian e-commerce ecosystem", said Dalvir Suri, Co-founder, Dunzo, and Head of Dunzo for Business (D4B). Dunzo is present in the top eight cities in India and has over 10 million users. It is backed by <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, Google, Blume Ventures, Aspada Investments, LightBox Ventures, STIC Ventures and 3L Capital, among others. With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Dunzo earlier this year raised $240 million to expand its footprint in India.ONDC recently boarded Go Frugal, Paytm, Digit, PhonePe and Loadshare, among others. E-commerce platform Snapdeal is set to debut on ONDC this month.

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

E-commerce platform <keyword id="1715801" type="General" weightage="100" keywordseo="shopify" source="Orion">Shopify</keyword> on Tuesday announced to cut 10 per cent of its workforce -- around 1,000 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword> across verticals -- as it failed to predict that the e-commerce industry would continue to grow beyond the pandemic at the same pace it did during the two-year period. The company CEO <keyword id="5695811" type="General" weightage="50" keywordseo="tobi-lutke" source="Orion">Tobi Lutke</keyword> said in a statement that Shopify has to go through a reduction in workforce that will see about 10 per cent leave by the end of the day. "Most of the impacted roles are in recruiting, support, and sales, and across the company we're also eliminating over-specialized and duplicate roles, as well as some groups that were convenient to have but too far removed from building products," he informed. The company was sending emails to those affected and they will "have a meeting with a lead in their team". <keyword id="14565887" type="General" weightage="80" keywordseo="lutke" source="Orion">Lutke</keyword> said that before the pandemic, <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> growth had been steady and predictable. "Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years", he mentioned. Shopify's workforce jumped from 1,900 in 2016 to around 10,000 in 2021 to meet the expected growth. However, Lutke said that it is now clear that bet didn't pay off. "What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point. Still growing steadily, but it wasn't a meaningful 5-year leap ahead," he informed. Those affected in the layoff will get 16 weeks of severance pay, plus an additional week for every year of tenure at Shopify. "We'll remove any equity cliff, and extend any medical benefits. Knowing that Shopify is just one stop on a career journey, we'd also like to help set everyone up for success as they take their next steps," said the CEO., adding that the company will offer outplacement services with access to career coaching, interviewing support, resume crafting, etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/there-is-an-exodus-of-games-from-web2-to-web3-says-this-blockchain-adoption-entity/articleshow/93139457.cms">There is an exodus of games from Web2 to Web3, says this blockchain adoption entity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>

E-commerce platform Shopify lays off 1,000 employees

<ul class="summary-list"><li>This is a preview of the Business <keyword id="12974103" type="UNKNOWN" weightage="60" keywordseo="insider-intelligence" source="Orion">Insider Intelligence</keyword> Online Grocery premium research report. <a href="https://store.businessinsider.com/products/the-online-grocery-report?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-online-grocery-report-2020&amp;vertical=paycom#!">Purchase this report here.</a></li></ul>The coronavirus pandemic has brought online grocery — a promising but formerly niche industry — to the fore. The combination of consumers' interest in <a href="https://intelligence.businessinsider.com/post/the-coronavirus-outbreak-looms-over-2020s-commerce-outlook-adyen-volume-growth-accelerates-in-h2-2019-walmart-working-on-an-answer-to-amazon-prime-2020-2" target="_blank" rel="noopener">avoiding</a> public places, government orders to <a href="https://www.cnbc.com/2020/03/30/coronavirus-violators-of-marylands-stay-at-home-order-face-criminal-charges.html" target="_blank" rel="noopener">stay at home</a>, and the continued need for groceries and essential goods has made online grocery delivery services from the likes of Walmart, Amazon, Target, and Instacart indispensable.Previously, some consumers resisted the shopping method because they wanted to pick out their groceries themselves and avoid extra fees, but the pandemic has forced many to change their priorities. And the sudden focus on online grocery is set to alter consumer behavior well after the pandemic subsides, accelerating the industry's penetration in the US.How well online grocers meet demand during the pandemic will play a major role in determining the top online grocers after the pandemic abates. Grocers' ability to fulfill as many orders as possible in a variety of convenient channels throughout the pandemic will be important, as consumers may turn to different providers if they can't place an order from one grocer through the channel they want — an issue that's popped up in <a href="https://ny.eater.com/2020/4/6/21209500/grocery-delivery-nyc-coronavirus-freshdirect-whole-foods-instacart-peapod" target="_blank" rel="noopener">some</a> markets for several grocers during the crisis.But online grocers that can keep customers throughout the pandemic may be able to keep those shoppers for the foreseeable future: 75% of online grocery shoppers still shopped with their first-ever online provider, per a <a href="https://www.bain.com/insights/omnichannel-grocery-is-open-for-business-and-ready-to-grow/" target="_blank" rel="noopener">survey</a> from Bain and Google from 2018. So, the grocers that meet the most consumers' needs during the pandemic will likely lead the industry even after it subsides.In The Online Grocery Report, Business Insider Intelligence first looks back at how online grocery adoption was progressing prior to the coronavirus pandemic to understand the state of the industry before the shopping method became vital to many consumers. Next, we examine why the pandemic is popularizing online grocery services and the impact it's already having on adoption. We then forecast how online grocery's penetration will grow in the coming quarters and years due to the pandemic, and consider the factors that will determine the industry's staying power. Finally, we analyze top online grocery players' ability to meet surging demand during the pandemic and how that positions them to build customer bases that can last well beyond the pandemic. The companies mentioned in this report are: Albertsons, Aldi, Amazon, BJ's Wholesale Club, Costco, FreshDirect, Grubhub, Hannaford, H-E-B, Instacart, Kroger, Ocado, Peapod, Publix, Target, Uber Eats, Walgreens, Walmart, and Whole Foods.Here are some key takeaways from the report:<ul><li>The coronavirus pandemic is pushing consumers to buy essential products digitally, which is rapidly accelerating adoption of online grocery services in the US.</li><li>Online grocery's staying power will come down to the length of the pandemic — because if the crisis stretches on, more consumers may be pushed to try an online grocery service — and how well online grocers meet surging demand, because consumers may abandon online grocery if they find it difficult to receive orders.</li><li>The online grocery services that are best able to handle surging order volume will likely be the most popular services after the pandemic subsides because consumers will be able to rely on those services to consistently bring them groceries.</li><li>Walmart and Instacart are best positioned to lead the pack post-pandemic given Walmart's massive brick-and-mortar network and Instacart's wide reach thanks to its platform model.</li></ul>In full, the report:<ul><li>Examines the US online grocery industry prior to the coronavirus pandemic to highlight what was driving the industry's adoption, and what obstacles it faced.</li><li>Analyzes why the realities of the pandemic — such as concerns about contracting the virus — have pushed many consumers to try an online grocery service for the first time.</li><li>Forecasts the US online grocery industry's penetration in 2020 and in the years to come, laying out a moderate and extreme scenario to account for the uncertainty surrounding the recovery from the pandemic.</li><li>Discusses why the duration of the pandemic and online grocers' ability to meet demand will determine the popularity of online grocery after the pandemic subsides.</li><li>Highlights how Walmart, Amazon, Target, and Instacart are positioned in the online grocery industry, how well they're meeting demand during the pandemic, and how they are expected to fare in the space beyond the pandemic.</li><li>Recommends how online grocers can maximize their performances during and after the pandemic with innovations like automation, operational flexibility, and bundling services.</li></ul>Interested in getting the full report? Here's how to get access:<ol><li>Business Insider Intelligence analyzes the payments and commerce industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/corporate-check?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=learn_more_text&amp;itm_term=enterprise_text_link-online-grocery-report-2020">Check if your company has BII Enterprise membership access to the full report</a></li><li>Sign up for the Payments &amp; Commerce Briefing, Business Insider Intelligence's expert email newsletter keeping you up-to-date on the people, technologies, trends, and companies shaping the future of consumerism, delivered to your inbox 6x a week. &gt;&gt; <a href="https://www.insiderintelligence.com/become-a-client/?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=top_bullets&amp;itm_term=subscription_link">Get Started</a></li><li>Purchase &amp; download the full report from our research store. &gt;&gt; <a href="https://store.businessinsider.com/products/the-online-grocery-report?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-online-grocery-report-2020&amp;vertical=paycom#!">Purchase &amp; Download Now</a></li></ol>

THE ONLINE GROCERY REPORT: The coronavirus pandemic is thrusting online grocery into the spotlight in the US — here are the players that will emerge at the top of the market

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GST Council to allow e-commerce for unregistered vendors

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Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

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E-commerce platform Shopify lays off 1,000 employees

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THE ONLINE GROCERY REPORT: The coronavirus pandemic is thrusting online grocery into the spotlight in the US — here are the players that will emerge at the top of the market

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