Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Come Valentine’s Day and people (read men) are in a tearing hurry to buy the most offbeat and perfect gifts for their loved ones at the very last moment. But most of us fail to think out of the box and the outcome is a pile of all-too-predictable <keyword id="464407" type="UNKNOWN" weightage="100" keywordseo="gift-items">gift items</keyword> that tend to infest our homes on each and every occasion – be it Valentine’s Day or Christmas, Holi or Diwali. If you want to find the most suitable gifts without the least hassle, try <keyword id="2059416" type="UNKNOWN" weightage="100" keywordseo="Wishpicker">Wishpicker</keyword>, a 9-month-old, Noida-based start-up that curates and aggregates gift items &amp; gift ideas from reputed merchants and helps you find the most relevant gifts as per your choice/preference – so that you won’t have to hunt for another shop – online or offline. But unlike other gift sites, this one does not sell gifts. Once you find something suitable and decide to buy it, you will be redirected to the merchant site for making the purchase. 
 Wishpicker uses an <keyword id="2059433" type="UNKNOWN" weightage="100" keywordseo="Automated-machine-learning-system">automated machine learning system</keyword> for its <keyword id="2059417" type="UNKNOWN" weightage="100" keywordseo="Gift-recommendation-engine">gift recommendation engine</keyword> – so that it can identify usage patterns and come up with most <keyword id="2059425" type="UNKNOWN" weightage="100" keywordseo="Relevant-gift-ideas">relevant gift ideas</keyword> based on age, relationship, occasion and other parameters. As a result, the start-up is able to maintain a conversion rate that is much higher than plain vanilla e-commerce stores. And the gift suggestions can be really exotic at times – right from buying a piece of land on the moon to getting your sweetheart’s face printed on a flower petal. Want to know more about Wishpicker and its offerings? Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs Wishpicker (www.wishpicker.com): A team of nine young enthusiasts led by co-founders Prateek Rathore and Apurv Bansal. While Prateek is a <keyword id="163598" type="POSITION" weightage="80" keywordseo="computer-engineer">computer engineer</keyword> from IIT Delhi, Apurv is a <keyword id="6405797" type="POSITION" weightage="80" keywordseo="civil-engineer">civil engineer</keyword> from the same institution and was Prateek’s batchmate. Prateek also holds a post-graduate degree in Management from the <keyword id="2059415" type="ORGANIZATION" weightage="80" keywordseo="IE-Business-School-in-Spain">IE Business School in Spain</keyword>. The duo later roped in Tejendra Singh, a B.Tech in Computer Science from IIT Patna, as a core technology member. 
 Earlier, Apurv had worked as a consultant but finally left his high-paying corporate job at <keyword id="122749" type="COMPANY" weightage="80" keywordseo="Bain-Company">Bain &amp; Company</keyword> in Mumbai to start Wishpicker when Prateek returned to India after finishing his management studies. The duo started working on the concept in early 2013 and Wishpicker.com went live in June last year. “Initially, we were operating from the terrace of Prateek’s parents’ flat in Delhi. But we shifted to Noida when the team grew,” recalls Apurv. 
 
What inspired the venture: Personal misadventures. Both Apurv and Prateek faced great difficulties when it came to finding the right kind of gifts for friends and families. “We were at a loss about what to buy and searching for gifts online simply stumped us. We were overwhelmed by the number of options available across the sites. Also, each site claimed it was selling the ‘best gift’ but that personal touch was somewhat missing,” reflects Apurv. “That’s when we realised that a lot of people face the same problem and we should do something about it. Wishpicker is here so that buying gifts turns out to be a happy experience instead of a harrowing one,” he adds. 
 
What’s the pitch: The name reveals the business pitch, according to the co-founders. As the site is helping people ‘pick’ the right gifts for their loved ones (that’s what you wish, don’t you?), Wishpicker is just the right name for it. And the ‘intelligent’ gift recommendation engine offers a never-before curated experience of gift-buying, helping you become a better gift giver who is both thoughtful and creative. “At Wishpicker, you will find a <keyword id="2059442" type="UNKNOWN" weightage="100" keywordseo="Readymade-gifting-inventory">readymade gifting inventory</keyword> from across the Internet and you can customise your search for best-ever recommendations. That’s our USP for driving business,” explains Apurv. 
 
How it works: What we like about this site is the all-too-simple user interface in spite of a complex backend. For one, you need not register or log in and can start gift hunting right away, from a wide range of gift items, <keyword id="858869" type="UNKNOWN" weightage="100" keywordseo="gift-vouchers">gift vouchers</keyword>, <keyword id="2059445" type="UNKNOWN" weightage="100" keywordseo="Experiential-gifts">experiential gifts</keyword>, etc., provided by some of the best companies and brands. Gifts can be broadly searched based on age, occasion and recipient’s relationship with the giver. You can further fine-tune the search by setting up various other parameters such as personality, budget, type of gift, product category and so on. Gift recommendations are also made based on the likes and interests of the recipient on Facebook. This is a real-life reflection of his/her personality and helps you select gifts that the recipient will actually ‘like’ and cherish. Wishpicker has already tied up with 20 or so merchants/e-commerce partners, including <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="2059448" type="UNKNOWN" weightage="100" keywordseo="HappilyUnmarried">HappilyUnmarried</keyword> and <keyword id="640104" type="UNKNOWN" weightage="100" keywordseo="Ferns-n-Petals">Ferns N Petals</keyword>, among others. It is now planning to increase the number of tie-ups. 
 
As gifts are curated from some of the best brands, users can access the very best that is available across the Web. What’s more, you get all at one place, essentially making Wishpicker a one-stop shop for the best gift ideas. The recommendation engine, based on automated machine learning, has been internally developed by the Wishpicker team and is constantly worked upon to ensure a never-before user experience. 
 
Claim to fame: Stickiness, traction and conversion. Wishpicker wishes to be a Google for gifts and seems to be making decent progress in these three key areas, as per the numbers divulged by the company. 
 
Show me the money: <keyword id="6399165" type="UNKNOWN" weightage="100" keywordseo="revenue-generation">Revenue generation</keyword> happens through commission per sale. According to the co-founders, the site sees more than 150,000 unique visitors per month and it is growing at 80% month on month. The annual <keyword id="2059458" type="UNKNOWN" weightage="100" keywordseo="GMV-run-rate">GMV run rate</keyword> is now Rs 1.5 crore and this is expected to double in the next 2-3 months, given the current growth rate. 
 Wishpicker is self-funded till date but will be raising its first round of <keyword id="6364511" type="UNKNOWN" weightage="100" keywordseo="angel-funding">angel funding</keyword> by the second quarter of CY2014. “We put together a <keyword id="572926" type="COMPANY" weightage="100" keywordseo="seed-capital">seed capital</keyword> of Rs 15 lakh and we are now looking to raise under a million dollar for the next round of development,” says Apurv. The money raised will be mostly used for enhancing the technology platform and venturing further into the global market. 
 “The problem we are trying to solve – deciding what to gift and how to find it easily – is globally relevant. Moreover, we have an extremely scalable model as our platform is totally Cloud-based. So we are planning to go global in a big way soon after cracking the <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword>,” details Apurv. Even now, Wishpicker has a significant presence in the US, the UK and the Middle East as people from these countries send gifts to India. But in the next phase of global expansion in the third quarter of this calendar year, the UK market will be the primary focus of the start-up. 
 
Biggest challenge: There are loads of gifting sites in India but most of them work like normal e-commerce sites, instead of aggregating and curating gift information, powered by an intelligent recommendation engine. “For gifting sites, the <keyword id="5189" type="ORGANIZATION" weightage="100" keywordseo="competition">competition</keyword> evolves around stickiness – it is essential to ensure that one finds the right gift for the right occasion and comes back often. But a site with a limited inventory cannot assure that and that’s where we are ahead,” affirms Apurv. 
 
He, however, thinks the biggest challenge is to build the right team. “Without a great team, your business is bound to fail. When running a start-up, you will never be short of work, and will constantly feel the need for more people. But the key is not to hire in a hurry and make sure that the candidate is not only talented and hardworking, but also gels well with the culture of the company. Because a wrong hire will push you two steps behind,” he reflects. 
 
Tips for budding entrepreneurs: There is no perfect time to start your own business. If you believe that you are solving a problem that’s affecting a large number of people and have the confidence that you can execute it with perfection, you should just go for it. Age, capital and experience are more of psychological constraints. Once you begin, everything else will fall in place.

Want To Buy Your Beloved Land
On The Moon? This Start-up Helps You Find The Perfect Gift

Flipkart is all set to achieve another milestone as after aiming for a $15-billion valuation, the most valuable online marketplace is vying to reach its next landmark - $10 billion in total worth of goods sold. 
 
Flipkart is adding highmargin categories such as furniture, homes and travel booking and sharpening its strategy in response to rivals Amazon, Snapdeal and Paytm gaining bulk rapidly. 
 
Flipkart expects this to boost its annual Gross Merchandise Value, or GMV, to $10-12 billion (Rs 64,000-76,000 crore) in 9 months to a year. 
 
Economic Times reported that this was a slight bump-up from its present GMV forecast of $8 billion for the year to March 2016, and more than double the $4 billion it achieved in 2014-15, a pace eclipsing the growth of several top online and brick-and-mortar rivals. 
 
"This will be a big milestone for us," Mukesh Bansal, head of commerce at Flipkart, said in an interview to ET. Flipkart reached $1 billion in annual GMV in 2013-14. The Tiger Globalbacked firm was seeking to raise funds at a valuation of about $15 billion, up from $11 billion reached in December. 
 
The company is preparing to start selling homes, travel deals and groceries by the end of this year, three people aware of its plans told the financial daily, on the condition of anonymity. 
 
However, Bansal did not confirm the plans. 
 
"We want to be a one-stop shop for every need,” he said. 
 
Flipkart is confident of doubling its GMV run rate - annual projection based on current GMV - even if sales growth slowed in certain months, said Bansal, also the chief executive of the company's fashion subsidiary Myntra. 
GMV is a key e-Commerce industry metric, measures a firm's growth based on the maximum price of goods and services sold on its platform and not by actual revenue, which could be much lower. 
 
"We felt at the start of the year that 100% growth at this scale is quite substantial. This quarter we will be on track for almost 35% growth as compared to the previous quarter (January-March), which was slightly more than the October-December quarter at 4-5% because of the Big Billion Day (sale) in October," Bansal told ET. 
 
The growth of Indian online retail has been dependent on discounting, but companies are now looking to lower spending on discounts and promotions while staying competitive. 
 
"I sense a period now where even though e-tailers will not be focusing on profits; there will be more focus on margins as compared to GMV," Niren Shah, managing director at Norwest Venture Partners told ET. Norwest Venture Partners has backed online retailers including Fashionandyou and Pepperfry. 
 
Indian online retailers suffer 35% gross losses on each unit of GMV sold, according to a recent Goldman Sachs report. "With this discounting strategy, we note that these three e-tailers (Flipkart, Snapdeal and Amazon India) now account for nearly 80% market share in the e-tail space, led by Flipkart at 45%," it said. 
 
(Image: Indiatimes)

Flipkart to add more items on its list, to boost GMV to Rs 76,000 crore

The ultimate guide on how to run a high-stakes board meeting, from someone who has attended over 100 of them

<ul><li>For organisations on the <keyword id="860946" type="General" weightage="20" keywordseo="digital-transformation" source="Orion">digital transformation</keyword> journey, agility is key in responding to a rapidly changing technology and <keyword id="7890618" type="General" weightage="20" keywordseo="business-landscape" source="Orion">business landscape</keyword>. </li><li>As more and more players adopt the online <keyword id="125920" type="General" weightage="20" keywordseo="marketplace" source="Orion">marketplace</keyword> business model; it becomes extremely important to track key performance metrics to ensure competitiveness. </li><li>These metrics cover usage, transaction and business performance and provide insights that are crucial to build a robust business model.</li></ul>Running an online marketplace is about more than launching it to your first customers and hoping for the best. It is important to monitor the business and regularly assess performance to ensure long-term profitability and growth. We'll examine the most crucial key performance indicators (KPIs) for online marketplaces in more detail to determine the performance of your business. These KPIs can be divided into three distinct subsections, each focusing on specific areas of the business. These are valuable metrics that indicate the number of visitors to the site and what they do there, transaction metrics that ensure that the marketplace mechanics are functioning correctly, and business metrics that provide insights into the financial viability of the business model. Let’s explore these areas in detail and understand how each e-commerce performance metric affects future business decisions. Usage metrics: The traditional ones Usage metrics are not unique to e-commerce marketplaces. These metrics are the traditional metrics that all websites track to monitor their growth. <ul><li>Monthly active users (MAU): Tracking the number of unique visitors to your website each month is a good indicator of your platform’s growth. The number of monthly active users will steadily increase if your site consistently attracts new users. On the other hand, a stagnant or declining number of MAU is a clear sign of trouble.</li><li>Bounce rate: A large number of visitors to your site is meaningless if these visitors don’t engage with the site and leave or bounce immediately. The percentage of visitors who visit your website only to depart is known as bounce rate. Businesses need to maintain the bounce rate as low as possible by ensuring that the website is attractive and engaging.</li><li>Time spent on site: Users who spend time exploring your site are good for your business, as people who spend more time browsing are more likely to buy something. However, customers who spend too much time on a marketplace website can mean they can't locate what they're looking for. This metric is a good indicator of how user-friendly your site is. </li></ul>Transaction metrics: The new realm We’re now entering the realm of e-commerce marketplace–specific metrics. e-commerce sites are designed to facilitate transactions between buyers and suppliers, but merely focusing on the number of transactions doesn’t provide actionable insights that can be directed at ensuring sustainable, long-term growth for the marketplace business model. That’s why we need to look at these relevant KPIs. <ul><li>Liquidity: This metric has two sides — supplier or provider liquidity and the buyer or customer liquidity. Buyer liquidity is the likelihood that a website visit will result in a transaction, and supplier liquidity is the likelihood of selling a product that has been placed for sale. Liquidity is measured in percentage, so supplier liquidity is the percentage of listings that lead to sales. And buyer liquidity is the percentage of website visits that end in transactions. Liquidity is a useful measure of a market's success since it shows the likelihood that users on the supply and demand sides of the market will succeed in their endeavours. </li><li>Supplier-to-customer ratio: Also called the buyer-to-seller ratio, this metric is defined as the number of customers one supplier can serve. The ideal ratio differs across marketplace sectors and provides insights into whether you need to grow your supplier or customer base. </li><li>Repeat purchase ratio: This transactional marketplace metric indicates the percentage of transactions that are repeat purchases from individuals who have already bought products or services from your site. A high repeat purchase ratio indicates that you can afford to direct more resources towards customer acquisitions since each new customer is more likely to make multiple purchases. </li></ul>Business metrics: The futuristic ones Business metrics provide insights into profitability, revenue, and customer acquisition. These KPIs reflect a marketplace’s overall financial health and are useful to assess whether or not the business model is functioning as it should. <ul><li>Gross merchandise volume (GMV): GMV is calculated by the total cost of goods or services sold over a period of time through an online marketplace. GMV is one of the most critical variables to monitor in order to gauge your platform's progress. </li><li>Customer acquisition cost (CAC): CAC is how much you spend to acquire each new customer. In an ideal world, your customer base would grow organically, and your CAC would be negligible. In the real world, this is not the case. Resources directed towards marketing activities and paid ad campaigns contribute towards your CAC. </li><li>Customer lifetime value (CLV): As a measure of the expected revenue, you may expect from each customer, CLV should be larger than CAC for a viable firm. CLV depends primarily on how long a customer is retained, the number of purchases they are expected to make, and the average size of each transaction.</li></ul>For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, <a href="https://www.infosysbpm.com/live-enterprise.html">Live Enterprise</a> is building connected organisations that are innovating collaboratively for the future. Disclaimer: This article is authored by Shyam Rao, AVP - Senior Practice Engagement Manager, Infosys BPM. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India

Are you effectively assessing the impact of marketplace management services?

<ul><li>Contribution Profit grows 197% (YoY) to ₹726 cr</li><li>Contribution margin increases to over 43% (YoY) from 27%</li><li>Device deployment increases to 3.8 million</li><li>Loan disbursal value rises 779% YoY to ₹5,554 cr</li></ul>Digital financial services giant One97 Communications that owns the brand <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> on Friday reported its Q1FY23 results, with 89% YoY revenue growth to ₹1,680 crore, while EBITDA (Before ESOP) loss reduced to ₹275 crore, marking an improvement of ₹93 crore (QoQ). The company’s contribution profit grew 197% (YoY) to ₹726 cr, leading to an increase in contribution margin to 43% of revenues in comparison to 35% in Q4FY22. Contribution margin has improved on account of increased payment profitability and higher mix of high-margin businesses. The company’s user engagement, measured by monthly transacting users (MTU), grew 49% (YoY) to 74.8 million during the quarter, while the total devices deployed increased to 3.8 million (2.8 million added in the past 12 months). This has resulted in a 101% (YoY) jump in Gross Merchandise Value (GMV), which stood at ₹3 lakh cr during the quarter. <div type="image" title="Paytm revenue" msid="93394055" hostid="261"></div> Paytm’s payments services revenue grew by 69% YoY (3% Q-o-Q), supported by rapid growth in user engagement, merchant base, use cases on the Paytm super app and subscription revenue from payment devices. Paytm undertook account level rationalization among online merchants to focus on profitable GMV. Furthermore, there was no UPI incentive recorded during the quarter. This has led to an increase in net payment margin to 35% from 17% (YoY) through reduction in payment processing charges, increase in subscription revenue, MTU growth on our platform and account level rationalization for online merchants. The company’s revenue from financial services grew 393% (YoY) during the quarter, led by massive growth in Paytm’s loan distribution business. During the quarter, Paytm disbursed 8.5 million loans, representing a growth of 492% YoY and 30% QoQ. The value of the loans disbursed stood at ₹5,554 cr, marking a growth 779% (YoY) of 56%(QoQ). Moreover, the company has now reached an annualized run rate of approximately ₹24,000 cr of loan disbursements through its platform, with significant upside potential from increasing penetration. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Paytm’s Q1 revenue jumps 89% to ₹1,680 crore

<keyword id="3519905" type="General" weightage="20" keywordseo="paytm-ceo" source="Orion">Paytm CEO</keyword> <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> has said that macro conditions have affected global fintech companies, including <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, but the fintech industry will soon bounce back, driven by payments revenue. Speaking at IAMAI's 'India Digital Summit 2022', Sharma said, "We are a payments company and everyone understands it and payment has a derivative revenue line item in financial services and is driven by credit." "The success of Paytm will depend on what we do with monetisation, led by financial services. Payment is a revenue line item which is growing massively," he emphasised on Wednesday. Sharma said that globally, we probably went in at a time (for the public IPO) when QE, free money and many other parameters brought in a little bit of spookiness into the market, in terms of pricing. "Some South American companies are 70 per cent down. Well, that's not the reason for it completely, that's a macro reason," Sharma said. Globally, fintech players and emerging market players saw weak support from the markets as PayPal, Afterpay, Affirm, Square and many others were down almost 30 per cent on an average. Most recently, Grab, the Singapore-based company, made its market debut and is also a 'super app' saw its share price drop by over 20 per cent on listing day. Paytm made a big bang debut in the stock market. The company's $2.5 billion IPO was not just India's largest but also the largest APAC fintech IPO ever and also the second largest fintech IPO of 2021 globally. Overall, <keyword id="8069901" type="General" weightage="20" keywordseo="paytm-ipo" source="Orion">Paytm IPO</keyword> is the fourth largest fintech stock debut. "Paytm, which opened at an offer price of Rs 2,150 braved the markets on a tough day and its share price was also impacted. But Paytm came out stronger than how most other fintech companies fared during the same time," said Dr Ravi Singh, Research Head, Share India. Analysts at JP Morgan, Goldman Sachs and Morgan Stanley have assigned a 'BUY' rating to the Paytm stock with a target price of Rs Rs 1,630-Rs 1,875. The company during its second quarter earnings results showed how its revenue grew by 64 per cent on a yearly basis to Rs 10.9 billion. During the July-September quarter, Paytm saw its contribution profit grow to Rs 2.6 billion in Q2 FY 2022, year-on-year increase of 592 per cent. The contribution margin jumped to 24.0 per cent of revenue from 5.7 per cent the previous year. "Paytm has grown to be a financial services giant, which brings with it more monetizable opportunities. The share price of the company will correct itself as the company grows as has been seen in the market journey of US tech companies like Facebook and Tesla," said Singh. The company in a recent filing said that its lending business saw 4.4 million loan disbursals through the platform (y-o-y growth of 401 per cent), and value of Rs 21.8 billion (run-rate of $1.2 billion) (y-o-y growth of 365 per cent). The company's GMV for Q3 FY 2022 stood at Rs 2,501 billion ($33.6 billion). "Year-to-date GMV is already higher than all of FY 2021 , led by significant non-UPI GMV growth," said the company in its regulatory filing. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/zomato-offers-12-lakh-insurance-grant-to-family-of-delivery-executive-killed-in-a-road-accident/articleshow/88874578.cms" data-type="tilCustomLink">Zomato employees will contribute ₹12 lakh to the family of delivery partner who was killed in a road accident</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms" data-type="tilCustomLink">Swiggy will deliver stuff on TVS Motors’ electric scooters</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-vs-infosys-vs-wipro-how-indias-three-it-giants-stack-up-against-each-other/slidelist/88860676.cms" data-type="tilCustomLink">TCS vs Infosys vs Wipro Q3 results – here’s how India’s three IT giants stack up against each other</a>

Global market conditions affected Paytm's IPO: Vijay Shekhar Sharma

<ul><li>In its recent earnings report, Reliance said that <keyword id="3421090" type="PERSON" weightage="20" keywordseo="Ajio">AJIO</keyword> has scaled new highs with 4x growth in orders from pre-COVID levels.</li><li>AJIO’s latest numbers show that it’s levelling up to Myntra while moving fast ahead of other competitors like Tata Cliq, Snapdeal and Koovs.</li><li>However, Flipkart and Myntra continue to hold 60% market share in online fashion retail, according to a Bank of America report.</li><li>Currently, fashion and lifestyle account for just 9% of the total retail sales of Reliance.</li></ul>In April 2016, at the Lakme Fashion Week, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance announced its big foray into fashion e-commerce with AJIO.com. The segment that has been crowded by the likes of Flipkart, Myntra (along with Jabong back then), Amazon, and others, left little room for AJIO to outshine the others. But the rise of e-commerce, especially as it spreads into rural India has brought about changes in the fashion e-commerce landscape. AJIO, which up until a year ago, wasn’t even counted among the frontrunners is scripting a story of resurgence now. AJIO’s fast-tracked growth “AJIO scaled new highs with 4x growth in orders from pre-COVID levels. Its quarterly revenue run rate is now equivalent to full last year’s revenue,” said Reliance during its earnings results on October 30. AJIO’s latest numbers show that it’s levelling up to Myntra while moving fast ahead of other competitors like Tata Cliq, Snapdeal and Koovs. While AJIO’s website visits are higher than Myntra, it lags behind in app downloads and users. <div type="image" title="Group 2" msid="78997632" hostid="261"></div> <div type="image" title="Group 2 copy" msid="78997646" hostid="261"></div> AJIO’s growth can be seen during lockdown when it began to see a spike in the number of app downloads. <div type="image" title="ajio vs myntra downloads" msid="78996631" hostid="261"></div> What’s working for AJIO Reliance is aggressively pushing ahead with its retail and e-commerce ambitions, and fashion e-commerce is set to play a substantial role. Currently, fashion and lifestyle account for just 9% of the total retail sales of Reliance. Analysts at Goldman Sachs believe that within e-commerce, RIL’s online GMV will reach $35 billion in FY25E with a 31% market share. And for that, Reliance is focusing on grocery and apparel segments with JioMart and AJIO. “RIL’s retail business outperformed peers last quarter and we expect this trend to continue given its omni channel offering driving market share wins,” said the Goldman Sachs report specifically pointing out the download trends of both JioMart and AJIO. <div type="image" title="reliance revenue chart." msid="78996641" hostid="261"></div> For AJIO’s growth, Reliance has opted for the omnichannel approach where the e-commerce site is riding on the inventory of Reliance Trends. “AJIO helps strengthen RIL’s O2O (offline-to-online) capabilities through in-store couponing, aisle kiosks. It does direct deliveries from 350 Trends and 70 Trends Footwear stores,” said the report by Bank of America. The platform has also enabled facilities like ‘Drop at Store with Cash Refund’ and ‘Pick at Store’ while also integrating the endless aisle kiosks where customers can even browse and order products that aren’t currently available in the store. With the deep pockets of Reliance, AJIO has also been able to offer great discounts while also making way for exclusive marketing strategies like the ‘Sneakerhood sale’ on AJIO. The platform has also focused on bringing on board luxury brands. “It offers over 2,50,000 styles of curated collections across its own brand and 1,400+ national and international brands,” said Reliance’s annual report. Resurgence in Indian e-commerce Indian e-commerce has seen multiple stories of resurgence with a focussed approach with the most popular one being that of Snapdeal, which has bounced back and how, to be India’s third largest e-commerce platform while also solidifying its presence in Tier 2 and Tier 3 markets. However, when it comes to the fashion category, AJIO’s growth will still see hurdles especially as it faces tough competition from the bigwigs like Flipkart and Myntra. “While AJIO is gaining traction, we believe competition is stiff in the online fashion market with Flipkart’s Myntra/Jabong controlling 60%+ of the market,” believe analysts at Bank of America. But the potential remains immense – According to McKinsey’s State of Fashion 2020 report, the Indian clothing market will be worth $53.7 billion in 2020, making it the sixth largest globally. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-stock-tanks-over-7-post-earnings-to-lowest-in-3-months-heres-what-brokerages-are-saying/articleshow/78996203.cms">Reliance stock tanks over 7% post earnings to lowest in 3 months — here's what brokerages are saying</a>

Reliance-backed AJIO is riding the Indian e-commerce wave — poses tough competition to Myntra

PepperTap, the on-demand hyper-local grocery delivery service has closed a Series B funding round of $36 million. The latest funding round was led by Snapdeal along with existing investors Sequoia India and SAIF Partners. The funding also saw participation from new investors like Ru-net, JAFCO, and BeeNext. 
 
Additionally, PepperTap is in advance talks to expand this round by another USD 20 million from other financial investors. This second close is expected to happen in the next few weeks. 
 
"From less than $1 million GMV run rate at the start of fiscal year 2015-16, we are solidly on track to end the year with a GMV run-rate of over $250 million. Investment by an established player like Snapdeal is a stamp on our asset-light, low burn business model and our execution track record,"" said Navneet Singh, co-founder and chief executive of PepperTap. 
 
Till date, it has raised about $47 million from investors. 
 
Though PepperTap hasn’t revealed much on the deal with Snapdeal, The Economic Times believes, the ecommerce company has invested $12-$15 million. 
 
"We look forward to working closely with PepperTap to make them very successful, leveraging the capabilities we have built in Snapdeal's ecosystem," Snapdeal Co-founder and CEO Kunal Bahl said.

PepperTap raises $36 million in second round of funding

<ul><li>The report revealed that the overall e-commerce has not just recovered but witnessed an order-volume growth of 17% as of June 2020.</li><li>The consumer buying patterns and preferences have changed significantly with categories like health &amp; pharma and FMCG &amp; agriculture seeing a surge.</li><li>The number of consumers shopping directly from the brand’s website is increasing at much faster pace than marketplaces. <keyword id="9792817" type="UNKNOWN" weightage="20" keywordseo="brand-websites">Brand websites</keyword> have witnessed 88% order volume growth as compared to 32% order volume growth on marketplaces.</li></ul> June 2020 did not only see a recovery in e-commerce but also a 17% growth in order-volume, according to an impact report on the e-commerce industry by e-commerce focused SaaS platform <keyword id="2646256" type="PERSON" weightage="20" keywordseo="Unicommerce">Unicommerce</keyword>. Moreover, consumers are becoming comfortable shopping directly from company websites and brand websites have witnessed an 88% increase in order volumes as compared to 32% order volume growth on marketplaces. The report titled ‘E-commerce Trends Report 2020’ extensively covers trends related to e-commerce growth, region-wise consumer demand, return orders and D2C trends and how it affects the industry in the post COVID-19 world. It also focuses on the growth of e-commerce in India along with detailing changing consumer behaviour and the industry response to address the newly emerging e-commerce trends. It also throws light on the D2C approach and omnichannel solutions adopted by the e-commerce players, which will significantly shape the supply chain ecosystem in India, and impact the industry in the long run. Additionally, the report also touches upon the initial e-commerce recovery across different segments as we prepare to enter the post COVID-19 world and comprehends its impact on different aspects of the e-commerce ecosystem like returns, shipping, developing brand websites and technology adoption. Key highlights of the report: E-commerce in the post COVID-19 After the lockdown was announced, the problem of limited availability and fear of getting infected created a new shift in consumer behaviour and their buying patterns leading to a new wave of online consumers. ● The overall e-commerce has not just recovered but witnessed an order-volume growth of 17% as of June 2020 ● The consumer buying patterns and preferences have changed significantly with categories like health &amp; pharma and FMCG &amp; agriculture seeing a surge and exponential growth, with the rise number of first-time online shoppers ● After e-commerce resumed operations post COVID-19, the return rate has seen a dip of ~10-30% depending on the category. The reduced return can be attributed to the new safety norms, increasing demand for <keyword id="3511062" type="PERSON" weightage="20" keywordseo="Essential-Products">essential products</keyword>, which are generally non-returnable. However, it will be interesting to see if the trend of lower returns continues in the long term ● There is an increasing trend of consumers buying directly from brands &amp; websites. Retail brands are now strengthening their online capabilities and opting for different approaches to connect with consumers ● In the last one year, there has been a considerable growth of 65% for brands developing their own website, which led to an increase in self-shipped orders. However, the percentage of self-shipped orders declined from 35% in Feb 2020 to 30% in Jun 2020. The decline in self- shipped orders can be attributed to brands trusting marketplace logistics due to better service levels and lower unpredictability during current uncertain times. Brands going direct to consumer ● As the e-commerce ecosystem matures in India, there is an increasing trend of brands going directly to consumers to offer a great experience to its patrons. While the brands have created their own website, the brands continue to sell on the marketplace as it still drives the majority of the order volume ● The number of consumers shopping directly from the brand’s website is increasing at much faster pace than marketplaces. Brand websites have witnessed 88% order volume growth as compared to 32% order volume growth on marketplaces ● The top 3 segments that have seen an increasing penetration of D2C brands are Beauty &amp; Wellness, Fashion &amp; Accessories and FMCG &amp; Agricultural sectors. ● In the last one year, there has been a considerable growth of 65% for brands developing their own website, which has also led to an increase in self-shipped orders India’s e-commerce annual growth pre- covid ● India’s e-commerce sector has been on a constant growth, the e-commerce order volume saw a growth of ~20% while the GMV witnessed a surge of ~23% with an average order size of ~Rs 1100 ● Beauty &amp; wellness is one sector that has witnessed an unprecedented order volume growth of ~130% followed by FMCG &amp; agriculture and health &amp; pharma with a growth of 55% and 38% respectively. These are emerging sectors with potential to accelerate e-commerce growth in India. Rising demand from hinterland of India ● All leading e-commerce companies are focusing on cities beyond the metropolitan cities. Currently, Tier II and beyond cities contribute around 66% of the total online consumer demand in India and this share is expected to rise in the coming years ● Tier III and beyond cities witnessed 53% growth, making it the fastest-growing region. It also observed that the top 5 cities of Tier III contribute only ~22% of the overall Tier III order volume, however in metro’s the top 5 cities constitute 90% of overall order volume ● The top 3 states, by e-commerce volumes, are Delhi NCR 1 , Maharashtra, and Karnataka, and they constitute 65% of overall consumer demand Return orders on decline ● Managing returns is an integral part of running an ecommerce business. The total percentage returns (as a percentage of forward dispatches) saw a decline of ~13% as compared to last year and it constitutes ~17% of the overall order volume as compared to ~20% in the previous year 2 ● E-commerce companies have invested extensively to reduce COD returns as they constitute large part overall returns. The return percentage on COD orders have reduced from 27% in 2019 to 20% in 2020 and for prepaid orders, the total return has decreased from 12% in 2019 to 11% in 2020. Even after such remarkable reduction in COD returns, it's still almost 2X returns on prepaid orders 1 Includes NCR region: Haryana (Gurgaon, Faridabad, Jhajjar and Sonepat) and Uttar Pradesh (Gautam Budha Nagar, Ghaziabad, Baghpat) 2 All year-on-year data points by Unicommerce are for the period of February 2020 - February2019 ● Another interesting trend observed is Tier II and beyond cities have seen a significant reduction of ~23% in overall returns. This change can be attributed to increasing, technology adoption improved last-mile delivery and customer centric return policies. Commenting on the report release, <keyword id="4918130" type="PERSON" weightage="20" keywordseo="kapil-makhija">Kapil Makhija</keyword>, CEO, Unicommerce said, “As the world is grappling with the effects of COVID-19, the ecommerce industry in India has seen a major boost since the beginning of this year. With this report, we wanted to throw light on the enormous growth opportunity that lies for the ecommerce industry in India. With changing consumer buying patterns and preferences, rise of new first time online users, increased focus on digitisation by retailers, brands opting for D2C model etc, we are confident the ecommerce industry will emerge as the most promising market across the globe with tremendous growth potential in the future. We at Unicommerce are committed towards simplifying e-commerce selling and this report is a vital step in the same direction. Through this report, we aim to decode the changing consumer patterns, and provide detailed insights on delivery and returns so that it can help the brands and e-tailers plan their e-commerce strategy much more comprehensively.”

You Searched For "GMV run rate" and got 9 results

Want To Buy Your Beloved Land On The Moon? This Start-up Helps You Find The Perfect Gift

Sanghamitra Mandal

Flipkart to add more items on its list, to boost GMV to Rs 76,000 crore

BI India Bureau

The ultimate guide on how to run a high-stakes board meeting, from someone who has attended over 100 of them

Delian Asparouhov

Are you effectively assessing the impact of marketplace management services?

Shyam Rao

Paytm’s Q1 revenue jumps 89% to ₹1,680 crore

Insider Studios

Global market conditions affected Paytm's IPO: Vijay Shekhar Sharma

IANS

Reliance-backed AJIO is riding the Indian e-commerce wave — poses tough competition to Myntra

Sanchita Dash

PepperTap raises $36 million in second round of funding

BI India Bureau

The number of consumers shopping directly from brand websites is increasing at a much faster pace than marketplaces: Report

Team BI India

Popular Keywords

Buying Guides