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

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

<keyword id="22865833" type="General" weightage="20" keywordseo="online-vendors" source="keywords">Online vendors</keyword> have generated 15.8 million <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, including 3.5 million for women, with about 1.76 million retail enterprises participating in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">Employment</keyword> and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. "Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors. The report noted that two of the most widely-recognised contributions of e-commerce penetration in the retail sector are --growth in employment and improvements in consumer welfare. It said rather than displacing physical markets, e-commerce is expanding into new territories like tier 3 cities. "Our data shows that a higher percentage of Tier 3 city consumers spend more than Rs 5,000 per month on online shopping as compared to consumers from bigger cities," it said, adding this is the India consumption story, which enables the co-existence of physical and digital retail. The study analysed the impact e-commerce has had on employment and consumer welfare through a pan-India survey of 2,062 online vendors, 2,031 offline vendors, and 8,209 consumers of products from e-commerce websites across 35 cities in 20 states and UTs. According to the report, each e-commerce vendor on an average employs about 9 people, of which 2 are female, while each offline vendor employs about 6 people, of which only 1 is female. It pointed out that there was increase in employment across skill levels, including high-skilled (management, marketing), medium-skilled (customer service, operations), and low-skilled (warehousing, logistics, delivery) functions. The report said that the growth of e-commerce and accompanying digitalisation have fundamentally changed the skill sets and roles required in the industry. "Vendors have experienced improved business performance parameters since listing online, including higher sales and profits," it said. According to the report, 60 per cent and 52 per cent of vendors, respectively, state that their sales and profits have increased since the time they have started selling online. "Overall, more than two thirds of the online vendors interviewed experienced an increase in online sales value and profits in the past year," the report said, adding that 58 per cent saw an increase in both. Barring costs, it said vendors have seen a positive shift in all other aspects of business performance since they started selling online. The report said there is a strong business case for offline vendors to list on e-commerce platforms or pursue an omni-channel strategy. "E-commerce integration has accrued significant benefits to vendors from smaller cities and micro-enterprises," it said. The study also delves into how e-commerce has reshaped consumer behaviour, noting that consumers have shifted to online shopping for reasons that include convenience, product variety, and access. "A highly engaged consumer base is indicated by the fact that more than 50 per cent of all respondents to the survey spent more than two hours on e-commerce platforms a week, and that 70 per cent made a purchase via e-commerce in the last month alone," it said. Speaking at the event, former NITI Aayog Vice Chairman Rajiv Kumar said, e-commerce has revolutionized India's retail landscape. Ministry of Statistics and Programme Implementation(MoSPI) secretary Saurabh Garg lauded the government's initiatives expanding digital public infrastructure that have enabled the smooth expansion of e-commerce. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Online vendors generated 15.8 million jobs in India: e-commerce report

When it comes to <keyword id="19957108" type="General" weightage="100" keywordseo="online-shopping" source="keywords">online shopping</keyword>, almost anything can be bought and sold within minutes. People love ordering new stuff from the comfort of their homes and the online shopping trend is growing day by day. However, every coin has two sides and there are some challenges associated with online shopping as well. As per latest reports, e-commerce platform Meesho is facing backlash over its latest product - Lawrence Bishnoi T-shirts. Yes, you read that right. <h2>Meesho faces backlash </h2> The popular e-commerce platform is under the scanner for listing merchandise featuring the infamous gangster Lawrence Bishnoi. Social media erupted when users discovered T-shirts adorned with his image being sold online, sparking debates about the consequences of idealising criminal figures. Journalist Alishan Jafri highlighted the worrying trend in an X thread, explaining how such merchandise feeds into a broader issue of online <keyword id="23805599" type="General" weightage="20" keywordseo="gangster-glorification" source="keywords">gangster glorification</keyword>, which is influencing real-world violence among the youth. The T-shirts, as per the thread, were being sold on the platform for prices starting from Rs 168. Jafri shared examples of minors inspired by these online depictions committing serious crimes, from violent assaults to murder. For instance, he recounted incidents like a 15-year-old killing a friend after being influenced by gang content and minors in Delhi attempting to emulate “dons” for social media fame. His investigation underlined that while authorities work tirelessly to curb these trends, platforms hosting such merchandise inadvertently contribute to a culture of gang idolisation. Meesho’s listing has drawn widespread criticism, with many questioning the ethics behind promoting figures linked to violent crime. “This should be stopped, we can't encourage the younger generation to think of this gangster as heroes,” a user wrote and another added, “And a kid also wearing a his t shirt. So wrong.” Let us take a look at some more reactions: <div type="image" title="google (24)" msid="114968112" hostid="261"></div> However, when Business Insider India tried finding these T-shirts on Meesho's website, they appear to have been taken down. <h2>Meesho's statement </h2> In a statement to Business Insider India, Meesho's spokesperson clarified the situation and said, "We have taken immediate action to deactivate the products. Meesho remains committed to providing a safe and trusted shopping platform for all our users."

‘Gangsters are not heroes’: Meesho is selling Lawrence Bishnoi T-shirts and the internet is not happy about it

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

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

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

<ul><li>E-commerce companies are expected to clock up to ₹1.2 lakh crore in sales this <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword>.</li><li>Mobile, electronics and fashion categories are expected to dominate during the sale.</li><li>The <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> is expected to record a 20% <keyword id="21396882" type="General" weightage="20" keywordseo="year-on-year-growth" source="keywords">year-on-year growth</keyword>.</li></ul>The festive season is here and e-commerce giants Amazon, Flipkart and other companies have started their festive sales. Driven by high pent-up demand and a premiumisation wave in the country, <keyword id="21687870" type="General" weightage="20" keywordseo="E-commerce-sales" source="keywords">e-commerce sales</keyword> are estimated to reach up to ₹1.2 lakh crore in gross merchandise value (GMV). The GMV of ₹1.2 lakh crore will be a 20% year-on-year (YoY) growth for the e-commerce sector, according to a report by Redseer Strategy Consultants. Mobiles, electronics and fashion categories are set to gain momentum while other categories such as beauty and personal care, home and more will see an incremental upside, “taking their festive growth above 25%,” as per the report. According to Kushal Bhatnagar, Associate Partner at Redseer, mobiles and electronics remain key value and growth drivers this festive season, especially as consumers respond to affordability options that make premium products more accessible. “Moreover, sellers and platforms have the potential to unlock the pent-up demand in the category by optimising for pricing and selection,” Bhatnagar added. As brands look to capitalise on the festive demand, many are strategically leveraging e-commerce platforms to cater to the aspirational customers’ needs and reach the relatively less accessible customers in tier 2 cities and beyond. “As a result, they look to partner deeply with the leading platforms to attract customers via lucrative discounts and offers available in the large-scale festive events,” he said. This festive season, brands are looking to push premium stock keeping units (SKUs) at a discounted price, to encourage aspirational buying. Quick commerce, which saw significant traction in 2023, is set to contribute approximately 8% to overall e-commerce growth, up from the 5% growth recorded last year. Newer categories such as home and kitchen appliances are likely to get pushed aggressively on quick commerce platforms and could also help the platforms to boost their average order values and profitability as per the report. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

E-commerce sales expected to reach ₹1.2 lakh crore this festive season

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

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

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

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

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

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

According to <keyword id="19911893" type="General" weightage="20" keywordseo="Meesho" source="keywords" meta.keywordsubtype="org" meta.entityname="Meesho" meta.hostid="261" meta.entityid="Meesho">Meesho</keyword>'s recent ‘Smart shopper report’, <keyword id="19919711" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen Z</keyword> is rapidly embracing <keyword id="19990771" type="General" weightage="100" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with one in every three Meesho users being less than 25 years old. This makes them the fastest-growing demographic on the platform. The report also highlights that mass consumers, who typically make low-price purchases, account for around 80% of the total online shopping population in India. Reports suggest that by 2030, mass consumers, who are constantly seeking value for price, will dominate the retail market, constituting 65% of total consumers. At present, Uttar Pradesh and Bihar are leading the way, when it comes to user growth in e-commerce, underscoring the significant untapped potential these states hold. The report also delves deeper into the evolving habits and preferences of mass consumers. Meesho has observed that users from Tier IV and smaller cities are the most frequent repeat shoppers under categories like women’s fashion, footwear, and baby care. Additionally, over 80% of Indian online shoppers now hail from tier-2 cities, and beyond, which include places like Ambur, Rourkela, Sangli, and Zirakpur. <div type="Article" hostid="261" msid="112333596" title="Zomato announces new feature for cash on delivery orders and it can help solve a huge problem" mstype="2" mssubtype="0"></div> <h2>Influencer-driven <keyword id="3295571" type="General" weightage="20" keywordseo="e-commerce-boom" source="Orion">e-commerce boom</keyword> in North-East</h2>Furthermore, the report reveals that customers in northeastern states of India such as Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Sikkim are increasingly basing their e-commerce purchases choices on content generated by influencers, making up for an impressive 40% of all orders from these states. Meesho has also witnessed greater digital inclusion, with a growing number of content creators emerging from some of the most remote regions of India, like Bazpur (Uttarakhand), Kotputli (Rajasthan), and Pakyong (Sikkim). With the growing popularity of content creators, products like selfie sticks, ring lights, microphones, and tripods have also quickly risen to top the electronics category. Another notable feature Meesho identified was a significant rise in the adoption of vernacular languages and voice search, with rates increasing by 162% and 40%, respectively. This surge reflects mass consumers' strong preference for regional languages and user-friendly features. Tier 2 and other, smaller cities have significantly outpaced Tier 1 cities when it comes to ordering electronic accessories, making double the amount of purchases made by their bigger, urban counterparts. Meesho has also seen substantial demand for products like bluetooth headphones and earphones, power banks, smart speakers, screen magnifiers, and keyboards from diverse Indian cities such as Alwar (Rajasthan), Bettiah (Bihar), Pursurah (West Bengal), Rajahmundry (Andhra Pradesh), Sindkheda (Maharashtra), and Sirsa (Haryana). Among the fastest-growing categories on Meesho are books, which grew by 148% YoY (year-on-year basis) growth, office supplies and stationery (137% YoY growth), home improvement (112% YoY growth), furnishings (92% YoY growth), and pet supplies (68% YoY growth). There has also been a surge in demand for personal care and grooming essentials. <h2>A shift towards quick draping</h2> In just six months, over 10,00,000 saree shapers and more than 60,000 ready-to-wear sarees were sold, indicating that consumers far prefer a quicker, easier approach to traditional draping. There was a clear penchant for traditional and modern alike, since Banarasi was the most sought after fabric, followed by chiffon and organza. <h2>Self-care on the rise</h2>With increasingly hectic schedules, mass consumers are also prioritising self-care. As a result, there has been a rise in at-home salon treatments, with Meesho reporting sales of 6,00,000 face packs, over 4,00,000 facial kits, 3,00,000 wax strips, 4,00,000 press-on nails, and 4,00,000 nail paints this year. <div type="Article" hostid="261" msid="112364583" title="Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart" mstype="2" mssubtype="0"></div> Not just this, yoga also made it to list, when it came to self-care. Meesho reported selling about 20 lakh yoga mats in just 6 months. And not just that, skipping and hula hooping also seems to be coming back in vogue, with consumers buying around 2 lakh skipping ropes and 75,000 hula hoops this year alone. SEE ALSO: <a href="https://www.businessinsider.in/business/article/5-lessons-startup-founders-can-learn-from-tech-mogul-elon-musk/articleshow/112375922.cms" data-type="tilCustomLink" target="_blank">5 lessons startup founders can learn from tech mogul Elon Musk</a>

India’s e-commerce boom: Gen Z, small cities, and self-care trends on the rise, says Meesho

The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has sought proposals from the industry to set up <keyword id="22514802" type="General" weightage="20" keywordseo="E-commerce-export-hubs" source="keywords">e-commerce export hubs</keyword> (ECEH) in the country for examination, support, and hand-holding. Based on the proposal, further details, including software requirements for ECEH, to facilitate seamless and expeditious export clearances, will be firmed up, the Directorate General of Foreign Trade (<keyword id="19985555" type="General" weightage="20" keywordseo="DGFT" source="keywords">DGFT</keyword>) has said in a trade notice. In this regard, it said, draft modalities for operation of these hubs have been formulated. Based on draft modalities proposed, the government would like to initiate a pilot launch of ECEH. "In this regard, detailed proposal(s) for setting up ECEH may be submitted to this directorate, for examination, support and hand-holding," the DGFT said. In the Budget, the government announced setting up of these hubs to promote <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> through e-commerce medium in public-private-partnership (PPP) mode. Initially there are plans to set up 10-15 hubs in the country. These hubs would be designated areas, which would act as a centre for favourable business infrastructure and facilities for cross border e-commerce activities. The major objectives are to provide for predictability and shortest possible turnaround time for e-commerce exports, easy re-import for e-commerce returns or rejects, bringing various cross-border e-commerce stakeholders under one roof. At present, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s exports through this medium are only about USD 5 billion compared to China's USD 300 billion, annually. There is a potential to take it to USD 50-100 billion in the coming years. The draft modalities for operations of these hubs talked about movement of goods from supplier's premises to ECEH; pre-screening of goods; design of these hubs; and process flow for customs clearance once a buyer is found. ECEH will have two physical components -- first will be the fulfilment area for packing, labelling, storing to take place after pre-screening and till a buyer is found; and the second will be a customs station where the goods will be customs cleared after the buyer is found, ready for dispatch. Through these hubs, small producers will be facilitated to sell to aggregators and then that aggregator will find markets to sell. Export products, which hold huge potential through this medium include jewellery, apparel, handicrafts and ODOP (one district one product) goods. In such hubs, export clearances can be facilitated. Besides, it can also have warehousing facilities, customs clearance, returns processing, labelling, testing and repackaging. A report by economic think tank GTRI India's e-commerce exports have the potential to reach USD 350 billion by 2030, but banking issues hinder growth and increase operational costs. India has set a target of USD 1 trillion of merchandise exports by 2030 and cross-border e-commerce trade has been identified as one of the mediums to meet this aim. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Govt seeks proposals for setting up e-commerce export hubs

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

You Searched For "ecommerce report" and got 12 results

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

BI India Bureau

Online vendors generated 15.8 million jobs in India: e-commerce report

PTI

‘Gangsters are not heroes’: Meesho is selling Lawrence Bishnoi T-shirts and the internet is not happy about it

Divyanshi Sharma

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

Kenneth Niemeyer

India to see retail digital payments to double to USD 7 tn by 2030: Report

PTI

E-commerce sales expected to reach ₹1.2 lakh crore this festive season

BI India Bureau

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

PTI

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

Dan Whateley

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

Shubhangi Goel

India’s e-commerce boom: Gen Z, small cities, and self-care trends on the rise, says Meesho

Ayush Mehrotra

Govt seeks proposals for setting up e-commerce export hubs

PTI

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

Shubhangi Goel

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