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New Delhi, Mar 27 () DPIIT on Friday said it is regularly engaging with retailers and e-commerce companies to ensure that the supply chain of essential goods is not disrupted and various facilities continue to function smoothly. Commerce and Industry Minister Piyush Goyal held discussion, through video conference, with stakeholders from e-commerce and logistics industry on Thursday on the issues faced by them due to COVID-19 (coronavirus) lockdown and measures to resolve them. The meeting was attended by representatives of Snapdeal, Shopclues, Flipkart, Grofers, NetMeds, PharmEasy, 1MG Tech, Udaan, Amazon India, Big Basket, Zomato. Large retail operators were represented by Metro Cash &amp; Carry, Walmart, Delihivery, Safexpress, Paytm, and Swiggy, the commerce ministry said in a statement. "As a result of efforts made by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Home affairs has issued standard operating procedure for state government's guidance on how to handle various aspects related to supply of essential goods," it said. Further, the Indian Patents Office has, in view of the lockdown, extended the date for completion of various acts, filing of replies, payment of fees, among others, the statement added. "This will help all those applicants for whom due date for submission of applications for patent, design and trademarks were falling during the lockdown period," it said. RR RVKRVK

Regularly engaging with e-retailers, traders to ensure smooth supply of essential goods: DPIIT

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Lucy NicholsonAmazon is moving into logistics. And trucking companies aren't too happy about it.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/amazon">Amazon</a> is developing <a href="https://www.businessinsider.com/amazon-logistics-network-edge-out-ups-fedex-2019-3">a logistics empire</a>.</li><li>That's discomforting for trucking companies that move Amazon goods.</li><li>According to Morgan Stanley's <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">transportation</keyword> analyst team, Amazon has become the "elephant in the boardroom" at <a href="https://businessinsider.com/category/jb-hunt">J.B. Hunt</a>, America's third-largest trucker."</li><li>However, J.B. Hunt's C-suite says it expects to lose some service with Amazon, and "potentially competing" with the retail behemoth's <a href="https://www.businessinsider.com/amazon-annual-filing-indicates-fedex-ups-competitors-2019-2">growing third-party logistics service</a>.</li></ul> Amazon's network of branded truck trailers, aircraft, sprinter vans, and ocean freighters means the company can move goods without going to third-party logistics companies. It's a cost-saver for a company whose delivery costs are <a href="https://www.businessinsider.com/amazon-logistics-network-edge-out-ups-fedex-2019-3">"ballooning."</a> But it's not cheery news for the trucking and transportation companies who have generated hundreds of millions of dollars in revenues from moving Amazon goods. XPO Logistics, for instance, announced earlier this year that they would lose <a href="https://www.businessinsider.com/amazon-xpo-logistics-earnings-deliveries-2019-2">$600 million in revenues</a> in 2019 because its largest customer, which they did not name but was identified by insiders as Amazon, was moving logistics services in-house.Analysts have also warned that UPS and FedEx should be wary of Amazon developing its own third-party logistics service.Read more: <a href="https://www.businessinsider.com/ubs-sounding-alarm-amazon-moving-ups-fedex-2019-3" data-analytics-position="3">UBS is now sounding the alarm on Amazon taking on UPS and FedEx - and analysts say the logistics giants have 'limited' tools to fight back</a>Now, J.B. Hunt, which generated $8.6 billion in revenue <a href="https://ww3.jbhunt.com/files/newsroom/file/Annual%20Reports%20-%202018.pdf/?id={02D63F6B-E165-4D0E-B11E-324B366EE341}">last year</a>, is the latest transportation giant that's picked up on Amazon's logistics aspirations. That's according to Morgan Stanley's team of transportation analysts, who recently visited J.B. Hunt's headquarters in Lowell, Arkansas.Amazon is a top 10 customer of J.B. Hunt and uses all of its service offerings, according to a March 14 Morgan Stanley note to investors. But, now that Amazon is developing its own trucking and transportation network, its dependence on J.B. Hunt might suddenly drop. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Wolfe Research; Andy Kiersz/Business Insider</div></div></div>"Amazon is the elephant in the boardroom," Morgan Stanley transportation analysts wrote in the note.On the other hand, J.B. Hunt's C-suite appears to be comfortable with the idea of Amazon curtailing its dependence on the company's logistics offerings."(J.B. Hunt management) believes Amazon is a company in transformation, like Walmart and Home Depot once were," Morgan Stanley analysts wrote. "However, J.B. Hunt has more than a decade of relationship with Amazon and understands their customer very well.""J.B. Hunt will look to grow with Amazon and other customers but management is acutely aware of changing shipper-carrier dynamics and the potential for not just sudden insourcing but also potentially competing with some of their customers, over time," they continued.Read more: <a href="https://www.businessinsider.com/stamps-com-amazon-logistics-dumps-usps-2019-2">It's becoming clearer than ever that Amazon is developing a 3rd-party logistics service to edge out FedEx and UPS now that Stamps.com has dumped USPS</a>It's not just Amazon that J.B. Hunt is monitoring, according to Morgan Stanley's note. They're aware that their corporate neighbor Walmart, which is also based some 10 miles away in Northwestern Arkansas, is moving some of <a href="https://www.businessinsider.com/walmart-rail-operations-supply-chain-2019-2">its own transportation services in-house</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/aston-martin-lagonda-electric-all-terrain-suv-geneva-motor-show-2019-3">Aston Martin's new fully-electric Lagonda could be the future of SUVs</a></h3> <div> </div> </div>

Amazon is building a logistics empire - and Morgan Stanley says the e-retailer is now 'the elephant in the boardroom' for one of America's largest trucking companies

AP Photo/Keystone, Martial TrezziniRod Beckstrom, then president and CEO of Internet Corporation for Assigned Names and Numbers exchanges a document with French Edouard Dayan, then Director General of the Universal Postal Union (UPU) after they signed a contract, in 2009.<ul class="summary-list"><li>The Universal Post Union, founded in 1874 as an agency of the United Nations, governs how the world's postal rates are set.</li><li>Unlike other specialized agencies within the UN, the UPU does not count any companies among its members. Its 192 members are exclusively sovereign nations.</li><li>But for the first time, the leadership of that shadowy agency is considering admitting private enterprise to its membership, too. </li><li>Director-General Bishar Hussein invited public and private sector players to a forum in Berne, Switzerland set for January 28, 2020 to discuss the role of corporations in the UPU. </li><li><a href="https://www.businessinsider.com/category/fedex">FedEx</a>, <a href="https://www.businessinsider.com/category/ups">UPS</a>, <a href="https://www.businessinsider.com/category/amazon">Amazon</a>, <a href="https://businessinsider.com/category/dhl">Deutsche Post DHL Group</a>, and <a href="https://www.businessinsider.com/category/stampscom">Stamps.com</a> confirmed to Business Insider that they plan to send representatives to the January conference.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The United States Postal Service has been infamously slammed <a href="https://www.businessinsider.com/amazon-fedex-first-usps-volume-drop-2019-8">by the decline of letter mail</a>.So, too, has the Universal Post Union - a specialized agency within the United Nations that sets the world's postal rates. It has 192 members, all of whom are sovereign nations. The UPU is crucial for directing the flows of international mailing and e-commerce, but it's not well understood outside of the international shipping industry and the companies who rely upon it. The UPU's leader, director-general Bishar Hussein, is aware of the decreasing relevance of national postal offices as the companies that power e-commerce become increasingly profitable - like UPS, FedEx, DHL, and even increasingly logistics-savvy retailers like Amazon and Shopify. In an about-face for the 145-year-old agency, Hussein has proposed that the UPU "opens up" to these corporations. He invited public and private sector players to a one-day forum in Berne, Switzerland, set for January 28, 2020, to discuss the role of corporations in the UPU, according to several invitees and internal documents viewed by Business Insider. Fabrice COFFRINI / AFPUniversal Postal Union Director general Bishar Abdirahman Hussein.Amazon, FedEx, UPS, Deutsche Post DHL Group, and Stamps.com confirmed to Business Insider that they plan to send representatives to the January conference. Many of these corporate postal stakeholders are part of the UPU Consultative Committee - a nonvoting organization that represents the private sector.The US Postal Service had no comment, and the UPU did not respond to multiple inquiries for comment. The shift to increase UPU private-sector participation will band together warring parties. One particular alliance among the private sector is likely Amazon and FedEx, which have <a href="https://www.businessinsider.com/fedex-amazon-one-day-delivery-2019-6">alternatively</a> <a href="https://www.businessinsider.com/amazon-bans-third-party-sellers-fedex-delivery-2019-12">slammed</a> each other in 2019 as the retailer <a href="https://www.businessinsider.com/amazon-ups-fedex-usps-morgan-stanley-report-2019-12">throws itself into the transportation sector</a>.And it highlights the rapidly transforming nature of how people connect and do business: Fewer letters, more online orders. E-commerce <a href="https://www.emarketer.com/content/global-ecommerce-2019">is expected to jump from</a> 10% of worldwide retail sales in 2017 to 22% in 2023 - and many of those purchases aren't domestic. "It's exciting times and, for some people, nerve-wracking," Amine Khechfe, chief strategy officer at Stamps.com, told Business Insider. <h2>A changing environment</h2>The post offices of the UPU's 192 member nations once dominated their countries' letter and parcel movements, Hussein wrote in an internal memo.The post office's market share has decreased in recent decades. Post offices went from having a virtual monopoly to claiming 72.8% of letter market share, 39.3% of express mailings, and 37.8% of packages, according to the UPU memo. "At the international level, post offices are increasingly engaged in competitive e-commerce services rather than traditional letter delivery services," Jim Campbell, an attorney and postal policy consultant, told Business Insider.Justin Sullivan/Getty ImagesPostal agencies globally are carrying more packages than letters. But, it's companies like UPS, FedEx, and Amazon who have truly seen a boon from e-commerce and the explosion of parcel volumes.Everything that isn't a post office increasingly dominates global shipping - even though those entities aren't part of the transnational shipping organization that determines how packages are moved around the globe. "In spite of these transformations, stakeholders from the wider postal sector are not yet fully represented at the UPU, thus potentially restraining the organization from retaining its universal nature," Hussein wrote in the memo. Industry insiders who spoke to Business Insider said companies like UPS, FedEx, and Amazon, as well as smaller e-commerce fulfillment players like Shopify and ShipStation, are interested in increasing their engagement with the UPU.Granting companies the ability to vote would potentially even out the playing field between the private and public sector; the latter has lower <a href="http://www.upu.int/en/activities/terminal-dues-and-transit-charges/2018-2021-cycle/terminal-dues-rates-of-countries-in-the-target-system-as-of-2020.html">terminal dues</a> and, some say, undergo less customs enforcement. "We all access the network," Kate Muth, who is executive director of the International Mailers Advisory Group, told Business Insider. "If the UPU is setting rules and regulations that impact the sector, shouldn't they have a better seat at the table? And how do you ensure the rules and regulations aren't overly favorable to the postal operators?"Andy Kiersz/Business Insider, annual filingsThe USPS has not benefitted from the boon in e-commerce as much as UPS and FedEx has.The demands from the private sector contrast with the economic reality seen by national post offices - and that contrast is particularly remarkable in the US. From 2000 to 2019, UPS and FedEx have seen their fiscal year revenues jump by 149% and 282%, respectively. But the US Postal Service's revenue bumped by just 10% in that same time period. The USPS <a href="https://home.treasury.gov/system/files/136/USPS_A_Sustainable_Path_Forward_report_12-04-2018.pdf">hemorrhaged some $69 billion</a> from 2007 to 2018. And this fall, the USPS saw its first volume decline since 2010, a drop that industry watchers attributed to FedEx and Amazon <a href="https://www.businessinsider.com/amazon-fedex-first-usps-volume-drop-2019-8">increasingly in-housing their own parcels</a>. As Morgan Stanley analysts <a href="https://www.businessinsider.com/amazon-deliveries-usps-rural-morgan-stanley-2019-12">wrote in a recent report</a>, Amazon is outsourcing its lowest margin shipments to USPS while keeping lucrative deliveries in its internal network. <h2>The UPU is 145 years old, but you probably haven't heard about it until this year</h2>The UPU recently enjoyed a rare news cycle in the mainstream media. President Donald Trump threatened to pull out of the UPU in October 2018, forcing the organization to mend its rules in October 2019 to be more favorable to US manufacturers. White House trade adviser Peter Navarro said the reform in postal dues <a href="https://www.nytimes.com/2019/09/25/business/universal-postal-union-withdraw.html">would save Americans $300 to $500 million annually</a>. The Trump administration challenged the UPU's sliding-scale fee structure, which granted highly-subsidized rates to developing countries. But as e-commerce exploded, retailers in China, in particular, were able to send goods to US households for ultra-cheap rates. Chinese manufacturers could sometimes access rates that are even lower than what American manufacturers can access in shipping domestically. Those complaints by the Trump administration are similar to the gripes that private carriers have with the UPU - certain countries benefit from lower terminal dues, while postal offices on the whole are able to circumvent certain customs regulations, these companies say. "Private carriers believe that, at least with respect to international e-commerce services, postal operators enjoy some unfair advantages because of the UPU," Campbell said. FABRICE COFFRINI/AFP via Getty ImagesWhite House trade advisor Peter Navarro (2L) leaves during a break an extraordinary congress of the Universal Postal Union on September 24, 2019An emergency meeting this fall prevented what an industry expert described to TIME as <a href="https://time.com/5687134/trump-universal-postal-union-deal/">"Trump is having his own Brexit."</a> Hussein said the decision to reform <a href="https://www.nytimes.com/2019/09/25/business/universal-postal-union-withdraw.html">those UPU rules comprised</a> "the most remarkable day in the history of the union."The news cycle likely educated Americans about the important yet shadowy agency. But it also forced executives at retailers and transporters to see how the rules that impacted US manufacturers also may be affecting their own companies. "Up until this point, the greater private enterprise community may not have thought a lot about the UPU and what the dynamic is around the world and what the impact is," Krish Iyer, who is the director of strategic alliances at shipping solution company ShipStation, told Business Insider. "I think that now with more private enterprise eyes on it, they realize the importance of it and therefore will try to engage both the UPU as an organization and the posts that are in question," Iyer added.And what they're learning, according to an industry expert familiar with the viewpoints of major private-sector players, is surprising them. "The UPU has kept everything non-transparent and non-complex," the expert, who spoke on background, told Business Insider. "And finally, that is now being exposed and the world is learning about them." <h2>It differs from other specialized agencies</h2>The UPU has lacked corporate membership since it was established in 1874. However, Hussein wrote in the internal memo that that's unusual compared to other UN agencies. "This is at odds with the transformations undertaken by other sectorial agencies in the United Nations system, which have all expanded their representativeness to a wide range of stakeholders operating in their respective industries," Hussein wrote.The model the UPU would likely mimic is that of the International Telecommunication Union, which oversees global information and communication technologies.The ITU counts more than 700 private-sector members, along with academics and almost 200 participating countries. These include companies ranging from the Afghan Wireless Communication Company to Apple. Only the countries can vote, but the nongovernmental members are still afforded some influence in what happens. aviation-images.com/Universal Images Group via Getty ImagesInternational parcel movements are increasingly carried out by private enterprise, not national post offices. And more are questioning why those companies aren't involved in international postal decision-making.This large membership is also seen at UN industry organizations like the World Tourism Organization, which has some 500 affiliate members from local tourism associations and elsewhere in the private sector."The Union has been criticized by some on the outside as being too slow, bureaucratic and political," a Deutsche Post DHL spokesperson told Business Insider. "So, looking at <a href="https://www.iata.org">International Air Transport Association</a> or <a href="https://www.icao.int/Pages/default.aspx">International Civil Aviation Organization</a>, or the ITU, an increased participation of non-postal organizations could potentially enhance the reputation or even the importance of the UPU - in Hussein's view."Increasing the corporate power at the UPU would likely enable massive transportation companies like UPS and FedEx, as well as retailers like Amazon and Shopify, to engage in policies like determining how addresses are formatted globally, worldwide postal rates, how postal barcodes should appear, and a slew of other policies that private players are increasingly engaged in."You have this postal network that's used by a lot of the private sector, and a large, bureaucratic organization that moves slowly - the UPU," Muth said. "But the market is changing so fast."<h2>Read the agenda for the Jan. 28, 2020 meeting</h2><a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019-2"></a> <a href="https://www.documentcloud.org/documents/6588466/UPU-agenda.pdf">UPU agenda (PDF)</a> <a href="https://www.documentcloud.org/documents/6588466/UPU-agenda.txt">UPU agenda (Text)</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/boeing-737-max-airplane-crash-incidents-recover-lawsuits-scrutiny-2019-7">Boeing 737 Max production is being halted. Will the aviation giant recover from the 737 Max crisis?</a></h3>

A powerful United Nations agency is quietly considering allowing companies into a 145-year-old international mailing pact - and it could give Amazon, UPS, FedEx, and a slew of e-retailers unprecedented shipping power

<keyword id="2085190" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-stores">Online grocery stores</keyword> are gaining popularity in India due to sheer convenience, ease of shopping and a fast-growing market. Globally, <keyword id="2085193" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-retail">online grocery retail</keyword> is growing nearly 7 times faster than on-ground formats and the <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword> may soon catch up. For one, the <keyword id="156795" type="UNKNOWN" weightage="100" keywordseo="indian-retail-industry">Indian retail industry</keyword> is estimated to be worth over $500 billion (one of the world’s top 5 markets) and 30-40% of the businesses will be in the online retail space over the next 7 years., This presents a great opportunity for any form of e-tailing, especially the <keyword id="2085203" type="UNKNOWN" weightage="100" keywordseo="E-grocery-space">e-grocery space</keyword>. 
 As of now, <keyword id="2085207" type="UNKNOWN" weightage="100" keywordseo="Grocery-e-tailing-in-India">grocery e-tailing in India</keyword> is a largely unorganised space and poses a big challenge in terms of stiff <keyword id="2085206" type="UNKNOWN" weightage="100" keywordseo="Entry-barriers">entry barriers</keyword>. The traditional methods of inventory and <keyword id="2085212" type="UNKNOWN" weightage="100" keywordseo="Logistics-management">logistics management</keyword> call for intense cash-burning – a business condition most of the bootstrapped Indian start-ups fail to meet. Moreover, a <keyword id="2085209" type="UNKNOWN" weightage="100" keywordseo="Series-A-funding-crunch">Series A funding crunch</keyword> also compelled companies like Mumbai-based <keyword id="2048780" type="UNKNOWN" weightage="100" keywordseo="ShopVeg">ShopVeg</keyword> to shut down operations. Therefore, when another Mumbai-based start-up decided to start grocery e-tailing in the same year, things were not looking too exciting for the newcomer. But 22 months later, <keyword id="2009014" type="UNKNOWN" weightage="100" keywordseo="LocalBanya-com">LocalBanya.com</keyword> has managed to set up Mumbai’s first online supermarket and also raised <keyword id="6793689" type="UNKNOWN" weightage="100" keywordseo="Series-A-funding">Series A funding</keyword> for the next level of expansion. 
 Although there were predecessors that attempted various models of grocery retail in the digital space and failed, <keyword id="2047523" type="UNKNOWN" weightage="100" keywordseo="LocalBanya">LocalBanya</keyword> has adapted a <keyword id="2085214" type="UNKNOWN" weightage="100" keywordseo="Lean-business-model">lean business model</keyword> that relies on a convenient mix of <keyword id="96173" type="PERSON" weightage="100" keywordseo="warehousing">warehousing</keyword> and <keyword id="512818" type="UNKNOWN" weightage="100" keywordseo="cash-and-carry">cash-and-carry</keyword>. This has reduced the start-up’s dependence on capital-intensive operations and enabled it to put in place a thoroughly efficient <keyword id="118965" type="PERSON" weightage="100" keywordseo="Supply-chain">supply chain</keyword>. In addition, the company has adopted some unique measures to take <keyword id="2085217" type="UNKNOWN" weightage="100" keywordseo="Customer-convenience">customer convenience</keyword> to the next level. Want to know more about LocalBanya and how it works? Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs LocalBanya (www.localbanya.com): A team of three co-founders – <keyword id="2085179" type="UNKNOWN" weightage="100" keywordseo="Karan-Mehrotra">Karan Mehrotra</keyword> (<keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword>), <keyword id="2085180" type="UNKNOWN" weightage="100" keywordseo="Rashi-Choudhary">Rashi Choudhary</keyword> (COO) and <keyword id="1251820" type="PERSON" weightage="100" keywordseo="Amit-Naik">Amit Naik</keyword> (<keyword id="238078" type="POSITION" weightage="100" keywordseo="CTO">CTO</keyword>). Karan is the brain behind LocalBanya and set up the entire infrastructure with just 14 employees. He is a <keyword id="163598" type="POSITION" weightage="60" keywordseo="computer-engineer">computer engineer</keyword> and prior to starting up, worked for his family business as a distributor for <keyword id="123278" type="UNKNOWN" weightage="100" keywordseo="FMCG-firms">FMCG firms</keyword>. He has 11 years of work experience in varied fields – from turning around a chain of restaurants to setting up metal fabrication plants to building a food distribution network. 
 Amit holds an MBA from IIM-Lucknow and he is also a Six Sigma Black Belt from the American Society for Quality. He had six years of top tier experience in ad-tech and earlier worked for <keyword id="1076906" type="ORGANIZATION" weightage="80" keywordseo="Directi">Directi</keyword> and <keyword id="45475" type="CITY" weightage="80" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword>. Rashi holds a Global MBA from <keyword id="1433263" type="UNKNOWN" weightage="60" keywordseo="SP-Jain-School-of-Global-Management">SP Jain School of Global Management</keyword> and brings four years of experience in <keyword id="6553136" type="UNKNOWN" weightage="100" keywordseo="retailing">retailing</keyword>, consulting and <keyword id="169305" type="ORGANIZATION" weightage="100" keywordseo="customer-service">customer service</keyword>. Prior to joining LocalBanya, she worked with the <keyword id="244481" type="COMPANY" weightage="60" keywordseo="Raymond-Group">Raymond Group</keyword>. 
 The trio had been working on the concept for some time and the site went live in May 2012. LocalBanya is now in beta and the e-grocer has over 130 employees operating across Mumbai, Thane and <keyword id="57321" type="PERSON" weightage="100" keywordseo="Navi-Mumbai">Navi Mumbai</keyword>. 
 
What inspired the venture: The desire to go one step ahead of your <keyword id="2085220" type="UNKNOWN" weightage="100" keywordseo="Local-grocer">local grocer</keyword> who accepts orders on phone. “Apparently, it was convenient but there was something lacking. You can’t browse the inventory when ordering on phone; the choices are not many (after all, a kirana or <keyword id="2085221" type="UNKNOWN" weightage="100" keywordseo="Mom-and-pop-store">mom-and-pop store</keyword> won’t keep exotic or imported items as those are a bit expensive) and finally, there’s no organised system (accountable, responsible and prompt),” says Karan. So up came LocalBanya, an online supermarket selling around 12,000 products across 17 categories and adding more every day. 
 
What’s the pitch: LocalBanya.com is an <keyword id="2085223" type="UNKNOWN" weightage="100" keywordseo="Online-convenience-store">online convenience store</keyword> dedicated to YOU (customers). The e-grocer offers high quality products and hassle-free delivery that save time, energy and money. “If you are <keyword id="62452" type="UNKNOWN" weightage="100" keywordseo="grocery-shopping">grocery shopping</keyword> 4-5 times a month or looking for something special, imagine the kind of supermarket trips you have to make and how you have to run from shop to shop,” points out Karan. “But having the entire bulk procured for you and delivered to your place, at the time you want it, would make things extremely convenient and lure the customers,” he adds. Karan, however, feels that the industry is huge enough to allow kirana stores, large-format retailers and e-retailers to survive and grow in the same marketplace. 
 
How it works: As of now, LocalBanya is targeting the <keyword id="6756404" type="UNKNOWN" weightage="100" keywordseo="urban-population">urban population</keyword> and the customer base varies from <keyword id="2085227" type="UNKNOWN" weightage="100" keywordseo="Single-professionals">single professionals</keyword>, <keyword id="632195" type="UNKNOWN" weightage="100" keywordseo="working-couples">working couples</keyword>, <keyword id="168112" type="UNKNOWN" weightage="100" keywordseo="Nuclear-families">nuclear families</keyword> and <keyword id="3216" type="ORGANIZATION" weightage="100" keywordseo="students">students</keyword> fending for themselves to <keyword id="1400200" type="UNKNOWN" weightage="100" keywordseo="new-mothers">new mothers</keyword>, <keyword id="20566" type="UNKNOWN" weightage="100" keywordseo="senior-citizens">senior citizens</keyword> and even <keyword id="2085229" type="UNKNOWN" weightage="100" keywordseo="Large-families">large families</keyword>. 
 “People come to us for a wide selection of goods (otherwise, they will have to visit 2-3 stores to make a purchase), convenience and great pricing. We deliver that convenience with exceptional levels of customer service, <keyword id="2085230" type="UNKNOWN" weightage="100" keywordseo="Preferred-delivery-times">preferred delivery times</keyword>, same-day deliveries, fresh produce and efficient &amp; reliable suppliers. We also take product suggestions from our customers and ensure that the products are online in a fortnight,” details the LocalBanya team. The <keyword id="2085232" type="UNKNOWN" weightage="100" keywordseo="Procurement-model">procurement model</keyword> includes a convenient mix of warehousing and just-in-time (<keyword id="377986" type="ORGANIZATION" weightage="100" keywordseo="JIT">JIT</keyword>) deliveries from a host of suppliers including <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword> companies, cash-and-carry outlets and other distributors. 
 Shopping for groceries on the LocalBanya platform is also kept simple. You just have to register or connect through Facebook before browsing the categories and the products. Once you make the purchase, the order is processed and ready for delivery within 6 hours. Delivery is done as per your time slot selection. The company offers 6 slots (of 2 hours each), from 7 in the morning until midnight, and one can choose any of those. Customers also enjoy <keyword id="2085234" type="UNKNOWN" weightage="100" keywordseo="Banya-Points-rewards-programme">Banya Points rewards programme</keyword> and these points are redeemed for cash discounts on every purchase. 
 
Claim to fame: <keyword id="900658" type="UNKNOWN" weightage="100" keywordseo="traction">Traction</keyword> and <keyword id="232730" type="POSITION" weightage="100" keywordseo="business-model">business model</keyword>. The start-up claims that it currently reaches over 10,000 homes a month and delivers 500-plus orders a day. Interestingly, nearly one-third of its orders are from <keyword id="1189616" type="UNKNOWN" weightage="100" keywordseo="institutional-clients">institutional clients</keyword> while senior citizens and <keyword id="58225" type="ORGANIZATION" weightage="100" keywordseo="NRIs">NRIs</keyword> constitute over 16% of the customer base. But what matters most is the <keyword id="2085235" type="UNKNOWN" weightage="100" keywordseo="Lean-infrastructure">lean infrastructure</keyword> set-up for reducing asset liabilities. 
 
Show me the money: Since its <keyword id="85080" type="ENTERTAINMENT" weightage="100" keywordseo="Inception">inception</keyword> in May 2012, LocalBanya has done around Rs 15 crore in gross revenues. The start-up is projected to grow 40% month on month over the next 15-18 months and eyes <keyword id="486782" type="UNKNOWN" weightage="100" keywordseo="break-even">break-even</keyword> in the existing markets (Mumbai, Thane and Navi Mumbai) by June this year. 
 LocalBanya was initially bootstrapped, but has already raised two rounds of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword>. It is now in talks with investors to raise a Series B round by March 2014. In January this year, the start-up secured an undisclosed amount in Series A funding from <keyword id="2009015" type="UNKNOWN" weightage="80" keywordseo="Karmvir-Avant-Group">Karmvir Avant Group</keyword>, a real estate developer in Mumbai. Earlier, it had raised funding from <keyword id="2085241" type="UNKNOWN" weightage="100" keywordseo="Times-Groups-Brand-Capital-Springboard">Times Group’s Brand Capital Springboard</keyword> platform. “The Series A round will last us for a year and help fuel our growth at a faster rate as we scale up operations, hiring and marketing. We are also looking to start operations in a new city within a quarter,” says Karan. 
 
Biggest challenge: Competition abounds in online grocery retail space but containing cash-burning is most crucial when it comes to inventory, supply chain and logistics. Streamlining the supply chain and <keyword id="2085210" type="UNKNOWN" weightage="100" keywordseo="Inventory-management">inventory management</keyword> is an uphill task but a lean procurement set-up, use of <keyword id="2085238" type="UNKNOWN" weightage="100" keywordseo="Leased-delivery-vehicles">leased delivery vehicles</keyword>, <keyword id="2085242" type="UNKNOWN" weightage="100" keywordseo="In-house-delivery-personnel">in-house delivery personnel</keyword> (for ease of management) and a well-structured <keyword id="2085243" type="UNKNOWN" weightage="100" keywordseo="Region-mapping">region mapping</keyword> that enables effective coverage of the city have helped the start-up cut down on costs. 
 
Five takeaways: In nearly 2 years of operation, LocalBanya has seen some interesting trends in <keyword id="2085200" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-shopping">online grocery shopping</keyword> behaviour and Karan &amp; his team want to share it with the budding wannapreneurs and all our readers. So here we go: 
 
59% of the transactions on the site are done by women. 
 
Senior citizens are a sizeable 14% of the customer base due to the convenience of online retail. 
 
A sizeable 2.1% of transactions are done by NRIs to have groceries delivered to their relatives in Mumbai. 
 
Institutional clients including restaurants, corporate houses, co-operative societies and any other organisation requiring groceries in bulk have seen the advantage of e-grocery and 29% of the business comes from these channels. 
 
Around 11% of LocalBanya’s deliveries are done during the 10 pm-12 midnight slot. And the last trend brings us back to the convenience factor. How many e-grocers or physical retail stores in India would be doing that in a bid to break out of the pack?

This E-grocery Start-up Uses A Lean Model For Its Online Supermarket; In Talks To Raise Series B
Funding

<div class="KonaFilter image-container float_right"><div class="image on-image"><a href="http://tumblr.everlane.com">Everlane</a></div></div>A line of simple leather tote bags by online <keyword id="6" type="ENTERTAINMENT" weightage="60" keywordseo="fashion">fashion</keyword> retailer <keyword id="1913572" type="UNKNOWN" weightage="60" keywordseo="Everlane">Everlane</keyword> has sold out and <a href="http://nymag.com/thecut/2013/10/everlanes-petra-bags-have-quite-the-wait-list.html">racked up a waiting list of 6,500 people in a matter of days, New York Magazine reports</a>.
<a href="https://www.everlane.com/petra">The "Petra" collection</a>, at $325 for the smallest bag and $425 for the largest, are some of the most expensive products Everlane has ever sold. The <keyword id="1913573" type="UNKNOWN" weightage="60" keywordseo="E-Retailer">e-retailer</keyword> focuses on basics - mainly tees, button-down shirts and sweaters - that all cost under $100.
"Some things are worth paying for," Everlane says in an ad for the collection. "We went to Italy to create the perfect bag."
The company only manufactured 1,000 bags, but it's planning to roll out more in 2014 due to the unexpected demand, Everlane spokeswoman Li Jing told Business Insider.
The bags are part of Everlane's foray into luxury products, which it has branded "Everlane Black." Upcoming additions to the "Black" collection include cashmere sweaters and scarves priced between $120 and $250.
Everlane markets itself as keeping costs low by cutting out the "middle man" and going directly to the factories that manufacture designer labels. The company also reveals its markups to consumers.

6,500 People Have Signed Up To Buy A Leather Tote Bag From Fashion Startup Everlane

<div class="KonaFilter image-container float_right"><div class="image on-image"><a href="http://tumblr.everlane.com">Everlane</a></div></div>A line of simple leather tote bags by online <keyword id="6" type="ENTERTAINMENT" weightage="60" keywordseo="fashion">fashion</keyword> retailer <keyword id="1913572" type="UNKNOWN" weightage="60" keywordseo="Everlane">Everlane</keyword> has sold out and <a href="http://nymag.com/thecut/2013/10/everlanes-petra-bags-have-quite-the-wait-list.html">racked up a waiting list of 6,500 people in a matter of days, New York Magazine reports</a>.
<a href="https://www.everlane.com/petra">The "Petra" collection</a>, at $325 for the smallest bag and $425 for the largest, are some of the most expensive products Everlane has ever sold. The <keyword id="1913573" type="UNKNOWN" weightage="60" keywordseo="E-Retailer">e-retailer</keyword> focuses on basics - mainly tees, button-down shirts and sweaters - that all cost under $100.
"Some things are worth paying for," Everlane says in an ad for the collection. "We went to Italy to create the perfect bag."
The company only manufactured 1,000 bags, but it's planning to roll out more in 2014 due to the unexpected demand, Everlane spokeswoman Ling Luke told Business Insider.
The bags are part of Everlane's foray into luxury products, which it has branded "Everlane Black." The next addition to the "Black" collection will be a $250 cashmere stole from Scotland.
Everlane markets itself as keeping costs low by cutting out the "middle man" and going directly to the factories that manufacture designer labels. The company also reveals its markups to consumers.

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://ify.valuewalk.com/wp-content/uploads/2014/04/JD.com-Nasdaq.jpg">ValueWalk</a></div></div></div>Shares of Chinese e-commerce retailer JD.com opened for trade on the Nasdaq at $21.75, above its initial $19 pricing.
JD.com's IPO comes amid a <a href="http://www.businessinsider.com/chinese-internet-stocks-tumbling-2014-5">tough day</a> for some other Chinese internet stocks. 
More to come...

Chinese E-Retailer JD.com Surges 15% On First Day Of Trading

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://www.wayfair.com/content/holiday/article.php?edn=3259">Wayfair.com</a></div></div></div>Boston-based <a href="http://www.wayfair.com">Wayfair.com</a> has become the biggest home goods e-retailer in the U.S. practically overnight, with sales exploding from $600 million last year to nearly $1 billion in 2013.
The company is now preparing for a public offering, possibly in 2014 or 2015, starting with the recent hiring of former Warner Music Group Chairman Michael Fleisher as chief financial officer.
"We've got the team in place," Wayfair CEO and co-founder Niraj Shah told Business Insider. "We believe we could go public at any point if we want to."
Wayfair's massive growth comes more than a decade after its founding, when it was called CSN Stores and sold speaker and television stands on the website RacksAndStands.com.
Shah founded CSN with his Cornell classmate Steve Conine, in 2002. The generic name was chosen to avoid scaring off manufacturers who were burned by the dot-com crash, Shah said.
"When we started in 2002, manufacturers didn't want to hear the word 'Internet.'" he explained.
Over the next eight years, the company launched more than 270 separate websites, each of which sold a very specific category of home goods.
"Our view was that you just had to pick a category that was off the beaten track," Shah said. "You couldn't focus on electronics or, you know, the same items that Amazon and others were selling." There was AllBarsStools.com, EveryMirror.com, and BedroomFurnitureDirect.com. Each website offered thousands of selections as well as editorial content on how to pick the right bar stool, or mirror or whatever category the site was selling.
The idea was rooted in search engine optimization. Shah and Conine knew that by offering a huge selection on hundreds of categories, shoppers were likely to stumble their way through a Google search into shopping on a CSN website. By 2010, the company had about 4.8 million customers and sales of about $380 million. 
But CSN Stores was having a hard time growing its repeat customer base, primarily because most shoppers had no idea that the websites were managed by the same brand.
That's when Shah and Conine decided they needed to build the "ultimate home store" by rolling all of their 270 websites into one. To fund their effort, they raised about $200 million from four Boston-area venture capital firms including Spark Capital, Battery Ventures, Great Hill Partners, and HarbourVest Partners. It was their first round of outside capital.
<keyword id="1966277" type="UNKNOWN" weightage="60" keywordseo="Wayfair-com">Wayfair.com</keyword> was launched in September 2011 and the company spent the next year in the tedious process of closing each of the standalone websites. In 2011, the company also launched Joss &amp; Main, a home goods flash sales site similar to One Kings Lane and Gilt Home, but with a lower price point.
The merchandise on both Wayfair and Joss &amp; Main is targeted toward customers with income levels of $60,000 to $160,000. Shah says Wayfair's typical customer is a 45-year-old female. 
In September 2012, Wayfair launched its first television marketing campaign and brand awareness rose from 6% to 27% over the next year, Shah said.
The company now has 1,500 employees - up from 1,000 about a year ago - and access to more than 7 million products from 12,000 suppliers. Going forward, Wayfair is focusing on ramping up its merchandising efforts to give customers a better idea of how the site's products can come together to decorate an entire room.
That's already a core part of Wayfair's Joss &amp; Main brand. Here's a recent example of Wayfair's new merchandising efforts, as advertised on the company's <a href="https://www.facebook.com/wayfair?filter=3">Facebook page</a>:
<div class="KonaFilter image-container"><div class="image on-image"><a href="https://www.facebook.com/photo.php?fbid=662665657088940&amp;set=a.368138259875016.85490.215686331786877&amp;type=1&amp;theater">Wayfair.com</a></div></div>
In the meantime, the company will also be preparing for an IPO, which won't happen for at least another six months, according to Shah.

Home Goods E-Retailer Wayfair's Sales Set To Hit $1 Billion After An Explosive Year

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition, a roundup of some of our top stories. Goldman Sachs' 2024 summer internship class had an <a target="_blank" href="https://www.businessinsider.com/goldman-internship-just-got-harder-summer-analyst-acceptance-rate-2024">acceptance rate</a> of less than 1%. Two who made the cut shared their first impressions of Wall Street and <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-interns-discuss-summer-job-how-to-succeed-2024-6">tips for success</a>.On the agenda today:<ul><li>Your guide to America's <a target="_blank" href="https://www.businessinsider.com/alices-dinks-henrys-fires-economy-guide-2024-6">weird new economic tribes</a>.</li><li>The CEO training program that's <a target="_blank" href="https://www.businessinsider.com/alpine-investors-ceo-in-training-program-how-it-works-2024-6">harder to get into than Harvard</a>.</li><li>Andy Sieg could be Citi's next CEO. First step: <a target="_blank" href="https://www.businessinsider.com/andy-sieg-citi-wealth-management-ceo-2024-6">fix a broken business</a>.</li><li>Thirty years later, Amazon's <a target="_blank" href="https://www.businessinsider.com/amazon-original-book-business-booming-2024-6">book business is thriving</a>.</li></ul>But first: On the ground at Cannes Lions, aka summer camp for the ad industry.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><div type="image" title="The Cannes Lions promenade 2023." height="3755" width="5634" msid="111207900" hostid="261" sizebytes="423518"></div><h2 id="d97b5dce-e69d-489f-9b45-829a14c50408">This week's dispatch</h2>The biggest names in marketing made for the south of France last week for the annual Cannes Lions festival. <a target="_blank" href="https://www.businessinsider.com/author/lara-oreilly">Lara O'Reilly</a> and <a target="_blank" href="https://www.businessinsider.com/author/julia-hood">Julia Hood</a> were among them.What was the overall mood?Lara O'Reilly: Jubilant. The sun was shining, the rosé was flowing, and companies were back to spending big on their enormous setups along the beach. No signs of the so-called "ad downturn" along La Croisette this year.What were the topics du jour?LO: Artificial intelligence. Or, more specifically, why the industry needs to stop talking about AI — and other under-the-hood tech — and instead refocus on the kind of creative ideas that make a cultural and business impact.Julia Hood: Sports was the star of the show. Athletes on site included Megan Rapinoe, Sue Bird, the Kelce brothers, and many more. Sports is accelerating as a convener of people across the political spectrum — a safe way to bring people together.What did the event reveal about the industry?LO: For all the talk of automation, advertising remains a relationship business. Yes, this place is a hedonist's playground of partying, VIP yacht experiences, and questionable ROI, but (I'm told) deals do actually get done here.What was the hottest ticket in town?JH: Wednesday night was the time to party for a lot of the attendees. Highlights included The Chainsmokers at Yahoo Beach and Arcade Fire at Spotify Beach. On Thursday morning, Jason and Travis Kelce recorded their "New Heights" podcast at Stagwell's Sport Beach. Despite the rumors, Taylor Swift was not seen.<a target="_blank" href="https://www.businessinsider.com/most-innovative-chief-marketing-officers-2024-6">Meet Business Insider's most innovative CMOs of 2024.</a><div type="image" title="Toy versions of Geriatric Millenials, Peak Boomers, and FIRE" height="2000" width="4000" msid="111207898" hostid="261" sizebytes="568460"></div><h2 id="c76ad443-9768-46bd-b065-8abdb752dcca">America's new economic tribes</h2>You may have heard about ALICEs, DINKs, and maybe even HENRYs. But what about DIPS? Have you thought about the FIRE movement?Coverage of America's economy is filled with acronyms and descriptors for all demographics. It can be hard to keep up with all the terms — so we built a glossary to help you out.<a target="_blank" href="https://www.businessinsider.com/alices-dinks-henrys-fires-economy-guide-2024-6">A guide to ALICEs, DINKs, and everyone in between</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/gen-z-millennial-neets-happy-idle-until-finding-right-job-2024-6">Gen Z and millennial NEETS are on the rise — many say they'd rather do nothing than be unhappy at work</a></li></ul><h2 id="42e27dc8-5f72-403c-9717-19484032a8be">The MBA to CEO pipeline</h2>Alpine Investors, a $17 billion private-equity firm, is quickly becoming one of the most sought-after workplaces for business school grads.That's thanks to Alpine's CEO-In-Training program. The program places MBAs in leadership positions at companies within just a few weeks, and promises to turn them into CEOs in a few years. It's not easy, though: Just 1.6% of applicants got a spot this year.<a target="_blank" href="https://www.businessinsider.com/alpine-investors-ceo-in-training-program-how-it-works-2024-6">Inside the highly selective program</a>.<div type="image" title="Andy Sieg collage with Citi bank" height="1500" width="2000" msid="111207901" hostid="261" sizebytes="233386"></div><h2 id="d45fe213-cd49-4c41-a866-4791c7c72df8">Citi's wealth fixer</h2>Andy Sieg, Merrill Wealth Management's former president, took a gamble leaving its strong business for Citi's much smaller wealth division.But according to industry insiders, including some of his colleagues, Sieg might have his eye on a bigger prize. If he's able to turn Citi's wealth unit around, he could become the bank's next CEO.<a target="_blank" href="https://www.businessinsider.com/andy-sieg-citi-wealth-management-ceo-2024-6">A look at Sieg's next steps</a>.<div type="image" title="Jeff Bezos, founder &amp; CEO of Amazon.com, poses with a book in an Amazon warehouse, Seattle, Washington, January 1st 1997." height="1544" width="2058" msid="111207899" hostid="261" sizebytes="191124"></div><h2 id="62e4926a-30aa-445c-9922-623a16f80752">Read it at Amazon</h2>Despite shuttering all of its brick-and-mortar bookstores in 2022, Amazon's bookselling business is booming.The e-retail giant sold $16.9 billion worth of books in the first 10 months of 2022, an internal document obtained by BI shows. The figure demonstrates how Amazon's original business is thriving 30 years after its inception.<a target="_blank" href="https://www.businessinsider.com/amazon-original-book-business-booming-2024-6">The book business breakdown</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/jeff-bezos-plan-for-washington-post-imploding-winnett-lewis-2024-6">Jeff Bezos' plan for The Washington Post is imploding</a></li><li><a target="_blank" href="https://www.businessinsider.com/employees-slam-amazon-for-private-foo-fighters-show-for-leaders-2024-6">Amazon employees slam the company in leaked Slack messages for apparently hosting a private Foo Fighters concert for senior leaders</a></li></ul>This week's quote:"We try to buy our way into looking and seeming young."— Devon Price, a social-psychology professor, on <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-socks-jeans-brands-aging-cash-advertising-2024-6">companies selling to millennials who are afraid of aging</a>.More of this week's top reads:<ul><li>A lawyer dreamed of disrupting the legal industry with private equity. <a target="_blank" href="https://www.businessinsider.com/arizona-law-firm-private-equity-investment-777-partners-2024-6">It turned into a nightmare</a>.</li><li>An Amazon VP shares <a target="_blank" href="https://www.businessinsider.com/strategies-manage-career-get-promoted-from-amazon-vp-2024-6">eight career-advancing strategies</a>.</li><li>Wall Street's solution to the retirement crisis: <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-blackrock-letter-boomers-work-longer-employer-age-discrimination-2024-6">force boomers to work longer</a>.</li><li>Reddit's traffic is <a target="_blank" href="https://www.businessinsider.com/reddit-traffic-surges-from-google-search-2024-6">way, way up</a>.</li><li>There's a pipeline of former Tesla staffers <a target="_blank" href="https://www.businessinsider.com/elon-musk-fills-out-xai-former-tesla-staffers-after-layoffs-2024-6">to Elon Musk's new startup xAI</a>.</li><li>Apple Intelligence seems to have <a target="_blank" href="https://www.businessinsider.com/apple-intelligence-china-chatgpt-partner-tim-cook-iphone-2024-6">a ChatGPT-shaped problem in China</a>.</li><li>Elon Musk wants advertisers' money — and to keep tweeting. <a target="_blank" href="https://www.businessinsider.com/elon-musk-advertisers-cannes-speech-tweets-twitter-x-peter-kafka-2024-6">He can't have both</a>.</li><li>Businesses are rushing to use generative AI. <a target="_blank" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">It's about to get messy</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/matt-turner">Matt Turner</a>, deputy editor-in-chief, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York. Amanda Yen, fellow, in New York.</li></ul>

Insider Today: CEOs in Training

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s <keyword id="15391148" type="General" weightage="20" keywordseo="e-logistics" source="Orion">e-logistics</keyword> sector has become one of the largest and fastest growing logistics markets globally and is all set to reach the $9 billion industry, with a compound annual growth rate of 35 per cent, a report showed on Monday. The number of e-commerce logistics shipments is expected to grow by four times in the next five years. "Thanks to new-age tech-enabled players who have entered India's logistics arena, it is now easier for small- and medium-sized businesses to transport goods, and there is a drastic increase in the speed and efficiency in which parcels are delivered," says the report by Bengaluru-based <keyword id="13724596" type="General" weightage="50" keywordseo="redseer-strategy-consultants" source="Orion">Redseer Strategy Consultants</keyword>. Among such players, Delhivery is well positioned at the cross-section of the various logistics sector growth drivers including infrastructure, offline commerce, digital consumption, and adoption of technology and data sciences. The e-commerce logistics sphere has contributed to the overall growth of India's logistics sector and enabled the e-retail boom in India. The proliferation of smartphones and localisation of the internet in non-English languages is drawing in new consumers from non-metro locations into the internet economy and creating new demand for online commerce, thus paving the need for disruption in logistics. According to the report, the availability of multiple payment options such as <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword>, no-cost <keyword id="6357050" type="General" weightage="50" keywordseo="emi" source="Orion">EMI</keyword>, BNPL (buy now, pay later) etc. are further driving the adoption of digital commerce by more consumers, thereby creating a need for e-commerce logistics. "Multiple segments in the India logistics market are addressable by full-stack-tech-enabled logistics service providers. There seems to be great headroom for growth as tech-enabled logistics players venture into adjacent segments such as hyperlocal delivery, express delivery, trucking, and more," the report mentioned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-15-paise-to-82-32-against-us-dollar/articleshow/95193584.cms">Rupee gains 15 paise to 82.32 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-new-cars-and-suvs-in-india-in-november-2022/slidelist/95194572.cms">Upcoming cars launching in India in November 2022</a>

India e-logistics industry set to touch $9 bn with e-commerce boom

<keyword id="4551565" type="General" weightage="50" keywordseo="edelweiss-asset-management-ltd" source="Orion">Edelweiss Asset Management Ltd</keyword> has launched 'Edelweiss Gold and <keyword id="14800318" type="General" weightage="100" keywordseo="silver-etf-fund-of-fund" source="Orion">Silver ETF Fund of Fund</keyword>', which will open for subscription today and closes on September 7. "Edelweiss Gold and Silver ETF Fund of Fund is suitable for investors seeking to invest in asset classes that can aid portfolios during the downturn. It can help investors offset the volatility in their equity portfolios. Both metals have underperformed in recent times and the dollar index, which has an inverse correlation with gold and silver, may weaken in the near term, hence, it could be a good time to invest in gold and silver at this point in time," said <keyword id="144969" type="General" weightage="80" keywordseo="radhika-gupta" source="Orion">Radhika Gupta</keyword>, <keyword id="14800319" type="General" weightage="20" keywordseo="md-ceo-edelweiss-asset-management-limited" source="Orion">MD &amp; CEO Edelweiss Asset Management Limited</keyword>. Gold and silver have proven to be popular investment tools in current times as they offer a hedge against inflation. These precious metals also have a low correlation with equities and therefore offer you better diversification. Compared to physical gold and silver, the <keyword id="6354820" type="General" weightage="50" keywordseo="mutual-fund" source="Orion">Mutual Fund</keyword> structure offers greater convenience, affordability, and liquidity. A mix of gold and silver is ideal as gold performs well during the recession while silver outperforms during precious metal bull rallies. Both provide a good hedge against inflation in the long run and have low correlations with equities. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/brick-and-mortar-retailers-are-growing-and-fuelling-e-retail-growth-too/articleshow/93749847.cms">Brick and mortar retailers are growing and fuelling e-retail growth too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/asus-zenbook-s-13-oled-review-a-sleek-all-purpose-ultrabook-at-a-premium/articleshow/93749502.cms">Asus Zenbook S 13 OLED review – a sleek all-purpose ultrabook at a premium</a>

You Searched For "eRetail" and got 12 results

Regularly engaging with e-retailers, traders to ensure smooth supply of essential goods: DPIIT

PTI

Amazon is building a logistics empire - and Morgan Stanley says the e-retailer is now 'the elephant in the boardroom' for one of America's largest trucking companies

Rachel Premack

A powerful United Nations agency is quietly considering allowing companies into a 145-year-old international mailing pact - and it could give Amazon, UPS, FedEx, and a slew of e-retailers unprecedented shipping power

Rachel Premack

This E-grocery Start-up Uses A Lean Model For Its Online Supermarket; In Talks To Raise Series B Funding

Sanghamitra Mandal

6,500 People Have Signed Up To Buy A Leather Tote Bag From Fashion Startup Everlane

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6,500 People Have Signed Up To Buy A Leather Tote Bag From Fashion Startup Everlane

Hayley Peterson

Chinese E-Retailer JD.com Surges 15% On First Day Of Trading

Myles Udland

Home Goods E-Retailer Wayfair's Sales Set To Hit $1 Billion After An Explosive Year

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Insider Today: CEOs in Training

Matt Turner

India e-logistics industry set to touch $9 bn with e-commerce boom

IANS

Edelweiss AMC's gold and silver ETF Fund of Fund opens for subscriptions today

IANS

Brands, influencers and celebrities who violated ASCI Guidelines for Influencers Advertising

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