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<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

<ul><li><keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword> International CEO said that the US-based retailer is confident that <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> will turn profitable.</li><li>She mentioned that the company has managed to live up to its expectations so far.</li><li>Flipkart is also thinking of ways they can offer software-as--a-service (SaaS), she noted.</li></ul>Walmart International CEO and President Judith McKenna on Wednesday said that the US-based retailer is confident that Flipkart will turn profitable and the company has managed to live up to its expectations so far. She also mentioned that India is Walmart’s biggest market in terms of advertising revenue and the company is looking at leveraging its advertising technology in other markets. Flipkart is also thinking of ways they can offer software-as-a-service (SaaS), she noted, as the e-commerce giant explores new avenues of revenue. “In fact, one of the markets that we are using them [Flipkart] for is Chile. They're building out our ad tech platform for Chile, which is a really interesting development for them,” she said. Walmart acquired Flipkart — the Indian counterpart to e-commerce giant Amazon — in 2018 from founders Sachin and Binny Bansal. The US-based retailer made the acquisition at a valuation of $16 billion, which has now more than doubled to <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$37.6 billion</a>. <cmsannotation type="cmsannotation" annotationid="Flipkart looking to go public with an IPO in the US" comment="subhead" text="Flipkart looking to go public with an IPO in the US">Flipkart looking to go public with an IPO in the US</cmsannotation> Flipkart is now looking to go for an initial public offering (IPO) in the USA. According to media reports, the company expects to make its public debut next year <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">at a valuation of $70 billion</a>. McKenna confirmed this, but refrained from committing to a timeline for the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword>, saying it will make a stock market debut “when the time is right for it”. “And when the time is right will depend on a number of factors, not least the market, but also the business performance. They've hit our deadlines. We wouldn't have invested if we didn't believe they could become profitable in the longer term, and we continue on track for that,” McKenna was quoted as saying in the Baird 2022 Global Consumer, Technology &amp; Services Conference. Flipkart had reported revenue of ₹43,357 crore for the financial year 2021, representing a 25% jump from the previous year. The company’s net loss also narrowed to ₹2,445 crore, representing a 22% decline. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/zomato-can-show-ebitda-profitability-in-the-next-three-years-but-only-on-one-condition/articleshow/92095600.cms">Zomato’s path to profitability in the next three years requires two things, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/news/deepinder-goyal-akshant-goyal-here-is-how-much-zomatos-dream-team-earned-since-october-2021/articleshow/92080767.cms">Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021</a>

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

<keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">E-commerce</keyword> major <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> is reportedly planning to reduce its <keyword id="52626" type="General" weightage="20" keywordseo="workforce" source="Orion">workforce</keyword> by 5-7 per cent in early 2024 that may affect nearly 1,500 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword>. The Walmart-owned company currently has around 22,000 employees. According to sources, Flipkart has initiated the exercise via performance reviews and the job cuts are likely to be implemented by March-April. The Economic Times was first to report about the upcoming move by Flipkart. The company is also looking at internal restructuring to optimise its resources in order to remain profitable. The company did not immediately comment on the move. Annual job cuts based on performance reviews at Flipkart have happened in the past too. E-commerce major Flipkart had total revenue of Rs 56,013 crore in the 2023 financial year, according to data from business intelligence platform Tofler. The revenue saw a 9 per cent growth in FY23 from FY22 at Rs 51,176 crore. The company reported a net loss of Rs 4,834 crore in FY23, marking a substantial 42 per cent increase from the earlier fiscal year. "Net loss for the financial year ending as on March 31, 2023, was Rs 48,393 million as against that of the previous year ending as on March 31, 2022, of Rs 33,624 million witnessed an increase of 44 per cent in the net loss," according to the financial report.

Flipkart may reduce workforce by up to 7%, affecting 1,500 employees

As we gear up for the much-anticipated 10th edition of The <keyword id="3092441" type="General" weightage="20" keywordseo="big-billion-days" source="Orion">Big Billion Days</keyword> on <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword>, there's a story that deserves to be shared – the remarkable success story of a young entrepreneur whose life has been transformed by this homegrown e-commerce platform. Mohammed Imran, a 26-year-old, was only 16 when he embarked on his entrepreneurial journey. His venture, Limraz Furniture, gained prominence during the pandemic, achieving a staggering 700 orders on its very first day when he held just 10 pieces in his inventory. Today, he stands as the proud owner of five thriving companies, a testament to the incredible scale made possible by Flipkart. From a family built around the earnings from an autorickshaw to buying a ultra-luxury sedan in the first year of his business, Mohammed’s journey symbolises relentless determination. <cmsannotation type="cmsannotation" annotationid="Meeting the demand for remote work" comment="subhead" text="Meeting the demand for remote work">Meeting the demand for remote work</cmsannotation> Mohammed's journey with Limraz Furniture began with a simple realisation – the rise of remote work demanded a comfortable workspace for home use. He says, “During COVID-19, most IT companies adopted a work-from-home model, and I recognised the need for budget-friendly home office furniture.” So, during the pandemic, he introduced office tables priced at affordable prices 9 on Flipkart; this ensured that people received value for money whilst also being able to work comfortably from their homes. <cmsannotation type="cmsannotation" annotationid="A journey born of necessity" comment="subhead" text="A journey born of necessity">A journey born of necessity</cmsannotation> With his younger brother and sister both helping him in running Limraz Furniture, he reflects on the past. After his father passed away in 2016, being able to afford one meal a day required his mother to sell her gold jewellery. This is when he decided that instead of taking up a job, he would start his own business. He says, “My mantra has always been to be one’s boss, and that’s what I did!” Now, he wants to leave no stone unturned in giving his family everything they deserve and more. <cmsannotation type="cmsannotation" annotationid="Choosing Flipkart: A lifeline during tough times" comment="subhead" text="Choosing Flipkart: A lifeline during tough times">Choosing Flipkart: A lifeline during tough times</cmsannotation> While Mohammed was looking out for opportunities to start his business online, Flipkart stood out as his ultimate choice. The seamless payment cycle offered much-needed stability during the uncertainty of the pandemic, especially considering his humble background. Supportive managers guided him through challenges, helping him understand consumer insights and improve his business. He shares, "Their guidance on cataloguing and optimizing product images significantly contributed to attracting customers and fostering positive reviews. Today, my entire range of furniture products is available on Flipkart." <cmsannotation type="cmsannotation" annotationid="A turning point" comment="subhead" text="A turning point">A turning point</cmsannotation> Mohammad's first experience with Flipkart's The Big Billion Days left an indelible mark on him. He reminisces, "In 2019, during my first Big Billion Days, I received an overwhelming response. Orders flooded in, starting with 1,200 on the first day culminating into a staggering 5,000 orders!" This was the first time he had witnessed such a substantial influx of capital. At the age of 23, he fulfilled a lifelong dream by purchasing a luxury car, symbolizing his remarkable journey and giving him a trailer for what more was to come. <cmsannotation type="cmsannotation" annotationid="From 10 pieces to building a thriving enterprise" comment="subhead" text="From 10 pieces to building a thriving enterprise">From 10 pieces to building a thriving enterprise</cmsannotation> From its humble beginnings, when it did not have enough staff or inventory to cater to the unexpected 700 orders on the first day of The Big Billion Days in 2019, Limraz Furniture has come a long way to evolve into a thriving enterprise. His company now boasts a staff of over 120 employees, and consistently achieves a minimum of 250 daily sales, with peaks reaching up to 400! <cmsannotation type="cmsannotation" annotationid="Dreaming big" comment="subhead" text="Dreaming big">Dreaming big</cmsannotation> As the 10th edition of The Big Billion Days approaches, Mohammed is leaving no stone unturned to ensure his success continues to soar. He has expanded his workforce, secured temporary warehouses to meet the heightened demand, and enlisted the support of investors to fuel his dreams of growth. With ambitious goals in mind, he anticipates crossing the two-crore mark in revenue this year, with sales of 15,000 to 18,000 units. While he expects profits to triple compared to the previous year, his family has also set their expectations. This year, they have expressed their desire for Mohammed to buy an even more expensive car, the booking for which he has already done. This reflects strongly on the faith he has in Flipkart’s power to help people achieve their dreams – no matter how big they seem. Looking ahead, Mohammad envisions further diversification by adding more products to Flipkart's marketplace. <cmsannotation type="cmsannotation" annotationid="A tale of triumph and resilience" comment="subhead" text="A tale of triumph and resilience">A tale of triumph and resilience</cmsannotation> Dealing in various categories of products while being a successful seller on Flipkart, while handling multiple other businesses is a testament to the fact that dreams can indeed come true. And in the world of business, it's often the most challenging journeys that yield the most inspiring stories. Mohammed's story is not just about business; it's about a young man who defied the odds and transformed his life through hard work. As we eagerly await The Big Billion Days, let us not only celebrate festivities but also the remarkable stories of entrepreneurs like Mohammed Imran, whose lives have been forever changed by Flipkart. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Countdown to Flipkart's 10th Big Billion Days: A tribute to entrepreneurs, featuring Mohammed Imran and Limraz Furniture

<ul><li>Captain Indraani Singh from Haryana: Breaking barriers in aviation and <keyword id="65467" type="General" weightage="20" keywordseo="empowering" source="Orion">empowering</keyword> communities through Indha Crafts. </li><li>Nishat Begum, an inspiring entrepreneur from Madhya Pradesh: Leading the charge in preserving traditional handicrafts</li><li>Komal Prasad Paul, a resilient entrepreneur from West Bengal who turned a personal tragedy into triumph </li><li>Chitrangan Pal from Odisha, the heartland of Sambalpuri sarees and how he revolutionized the traditional handloom business bringing ancient craftsmanship into mainstream fashion.</li></ul> In the realm of business, where the focus typically revolves around financial gains and market dynamics, there is a distinctive group of individuals who have harnessed the transformative potential of entrepreneurship rooted in <keyword id="6355103" type="General" weightage="20" keywordseo="social" source="Orion">social</keyword> responsibility. They are the ‘<keyword id="484405" type="General" weightage="20" keywordseo="Social-entrepreneurs" source="Orion">Social Entrepreneurs</keyword>’, who have not only achieved excellence in their entrepreneurial pursuits but have also dedicated themselves to uplifting and supporting the communities they hail from. Their inspiring journey reflects a deep alignment with the values upheld by <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> – leveraging the power of e-commerce to bring about positive change, skillfully combining financial success with a positive societal influence. As we delve into the motivating journeys of these ‘social entrepreneurs’, we uncover stories of sellers who have excelled in business while leaving a significant mark on their communities. These stories represent not just financial success but a legacy of transformation. Empowering Artisans, Uplifting Communities Name: Nishat Begum NGO: Anuna Location: Madhya Pradesh India has a rich history in traditional handicrafts, handlooms, and handmade products. Over the decades, generations of artisans have passed down and honed their skills in specialized crafts of their choice. There are lakhs of such artisan clusters across India. Many of these artisans are marginalized women and men, and are often the sole bread earners for their families. Due to limited familiarity with modern digital market dynamics, these artisans often find themselves vulnerable to intermediaries, which, in turn, poses challenges to their livelihood. Consequently, this trend contributes to a waning interest in traditional crafts and a significant loss of income for the artisans involved. The problem can be addressed with professional training and handholding in digital entrepreneurship, and the medium of e-commerce, something that the Samarth program by Flipkart and its NGO partners are working towards. Flipkart Samarth is a program dedicated to helping underprivileged sections of society and supporting organizations that are committed to societal good. The program has been creating meaningful opportunities that empower millions of artisans, weavers, and micro-entrepreneurs to help them achieve financial independence. Since its launch in 2019, Flipkart Samarth has enabled pan-India market access for lakhs of ambitious entrepreneurs. Today, the program supports and benefits over 1.5 million livelihoods nationwide. Nishat Begum, who heads an organization of artisans in Bhopal, is among those who has experienced the benefits of going online and knows that it can make a world of difference to the lives of artisans, especially women. Nishat's organization has been working since 1990 to skill and support women in areas affected by the Bhopal gas tragedy of 1984. As the driving force behind Anuna, an NGO associated with Flipkart Samarth, she empowers marginalized women through online entrepreneurship. Anuna is a social impact driven business that is open to all independent sellers with unique handmade or natural products. A part of the proceeds from Anuna's sales supports the training of artisans from economically backward classes. Under the Flipkart Samarth-Anuna partnership, about 120 women in Nishat's organization, skilled in crafts such as zari, zardozi, and macramé, have undergone training in the fundamentals of running an e-commerce business. Nishat appreciates the multifold benefits of the Flipkart e-commerce platform for her community of artisans - most importantly, the continued preservation of their art, and the access to a pan-India market. "It will boost sales and improve the standard of life for women and their families," she says. "With the steady income they can now earn, many women, like me, will become financially independent and fulfill their dreams." Nishat appreciates the multifold benefits of the Flipkart platform for her community of artisans - most importantly, the continued preservation of their art, and the access to a pan-India market. Empowering Women, one flight at a time Name: Capt. Indraani Singh Business: Indha Crafts Location: Haryana A renowned name in aviation, Capt. Indraani Singh is the first woman in Asia to fly the Airbus 320 and the world’s first woman commander on the wide-bodied Airbus 300. When she is not piloting flights, Capt. Indraani Singh is educating and empowering women and children in India’s underserved communities. Capt. Indraani Singh founded Indha Crafts, a social enterprise that imparts vocational training in crafts for underserved women and markets the products they create. She is also the founder of Literacy India, which educates underprivileged children, youth and women, empowering them to become self-reliant. Recently Indha Crafts joined hands with Flipkart Samarth to help women artisans sell their products online and expand their customer base to over 200 million. The partnership has positively impacted lives in these communities, says Capt. Indraani. Her drive has led to men also understanding the economic benefits of women channeling their talents. Capt. Indraani understood the need for a platform to monetize this talent and create sustainable incomes. “With Flipkart, we feel cared for. Other than helping us sell, they help us with promotions. They tell us how to list trending products and introduce variety in our listings. This helps us in marketing and in turn, helps the artisans. Flipkart also has been instrumental in our B2B sales. Many sellers have contacted us to grow their business,” says Capt. Indraani. Ever since Indha Crafts partnered with Flipkart Samarth, the organization has seen tremendous increase in sales. Moreover, the brand has witnessed a positive impact on the lives that they are trying to uplift. Capt. Indraani Singh with Indha Crafts and Literacy India is changing the narrative for the women she’s working with. When she began journey, she faced questions about the efficacy of the initiative: How would artisans earn money with these skills? How would it be beneficial? How is this additional income going to change their lives? Today, these women have written a new chapter in their lives, from contributing to their household income to helping their community’s healthcare, education, and independence. They are flying in more ways than one. Defying odds, embracing entrepreneurship Name: Komal Prasad Paul Business: Ultimate Hygiene Location: West Bengal In December 2017, 33-year-old medical representative Komal Prasad Paul was grievously injured after a collision with a truck in Barasat, a suburb of Kolkata. He was rushed to the ICU only after several hours but by then the damage was done: his right arm had to be amputated. This deep personal tragedy came as a turning point in Komal Prasad’s life: How would he provide for his family given his physical impairment? While painting and sketching uplifted his mind after a phase of depression during his month-long hospitalization, the burden of earning for his family weighed heavily on him. So, undeterred by his handicap, Komal Prasad went back to work upon discharge. But the feisty microbiology graduate who had been great at his job realised he could not keep up with the demands of the job. He thus started exploring ways to earn for his parents and his sister, who were extremely disheartened at the unfortunate turn of events. Komal turned to entrepreneurship. He tapped into his contacts and started selling products for new mothers and babies, such as nebulizers and breast pumps. Business started slow but an undeterred Komal had his mind set on success. After reference and research, Komal registered on the Flipkart Seller Hub in May 2019 and within a few days, a member from Flipkart’s team on-boarded him and took care of all his documentation. Thus began his new life. Komal sells personal care products on Flipkart under the Flipkart Samarth program which offers e-commerce opportunities to underserved entrepreneurs and artisans in India. On his debut as a seller on Flipkart, he made a single sale on his first day. Today, he sells over 50 products a day. His enduring effort and never-give-up attitude have helped Komal register over 100% growth in sales, which has allowed him to hire one employee to help him with packaging. The source of Komal’s motivation lies with his parents and God. And, he is certain that with Flipkart, he is on the right path, one that will lead to success. Weaving stories, creating opportunities Name: Chitrangan Pal Business: Odisha Handloom Location: Odisha There are sarees and there are sarees that tell stories transcending form and fashion. One such saree is Odisha’s Sambalpuri, which bears the imprints of the state’s famous tie-and-dye technique, wherein each saree goes through a journey of threads dyed, fabric woven, and made intricate with traditional motifs. Look closely, and a Sambalpuri saree is a handmade harmony of geometric patterns and landscapes from Odisha’s religious architecture, which could take as many as three months to create. Like a precious heirloom, local weaver families cherish the painstaking technique that goes into making a Sambalpuri saree. “We are the only ones here in India making Ikat (a fabric dyeing technique). This has been our work and tradition for over 100 years,” says Chitrangan Pal. 22-year-old Chitrangan is the founder of Odisha Handloom, a company representing over a thousand families, whose members draw livelihood from the warp and weft. But selling the Sambalpuri sarees, along with dress materials, stoles, dupattas, tables, and kitchen linen, was stuck in the old ways. In 2019, Chitrangan became a Flipkart seller. “Flipkart helped us in listing over 200 of our sarees and helped us with visibility for our products nationwide.” It also opened up his perspective on selling, adding specialties like market trends and location-based selling. Soon, he tapped the strong vein of demand in India’s southern cities. Going online allowed Sambalpuri sarees to grow out of the shadow of heritage and local demand, and into fashion that was more mainstream. “Before joining Flipkart, we were selling our products in our village or state, but now our products are available to customers across the country,” says Chitrangan. Working with Flipkart has also grown the weavers’ creativity. “Before Flipkart, we were traditional saree sellers for about 40 years. We worked with the same designs. Our profit margin was not great, and the designs remained old-fashioned,” he remembers. As Chitrangan says, “Orders are rising, and our community is very happy with their work. Selling on Flipkart means more work and more opportunities for my people to earn their living with dignity.” Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Empowering communities: The impact of Flipkart Samarth's social entrepreneurs

<ul><li><keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> and <keyword id="6357886" type="General" weightage="100" keywordseo="phonepe" source="Orion">PhonePe</keyword> have announced that they are fully separated now, six years after the e-commerce giant acquired the latter. </li><li>The separation comes at a time when PhonePe is reportedly in talks to raise funds at a valuation of close to $13 billion. </li><li><keyword id="80487" type="General" weightage="20" keywordseo="Walmart" source="Orion">Walmart</keyword> will continue to be the largest shareholder of PhonePe and Flipkart, according to a joint statement by the companies. </li></ul>Flipkart and PhonePe have announced that they are fully separated now, six years after the e-commerce giant acquired the latter, the companies said in a joint statement on Friday. Post the completion of the separation, PhonePe is now a fully India-domiciled company. To recall, PhonePe moved its registered office from Singapore to India in October. “Setting up these businesses as separate entities will also provide value and create new opportunities for investors to participate in the Indian tech ecosystem – helping unlock and maximize enterprise value for shareholders of the two companies,” the companies said. The separation comes at a time when PhonePe is in talks to raise funds at a valuation of close to $13 billion, according to a <a href="https://www.bloomberg.com/news/articles/2022-12-08/walmart-s-payments-startup-phonepe-seeks-to-raise-1-billion">Bloomberg report</a>. If it succeeds, it would become the most-valued fintech startup in India. The company had raised $700 million in 2020, led by Walmart and existing investors, including Tiger Global, at a valuation of $5.5 billion. While media reports earlier suggested that PhonePe was planning an IPO, the company’s founder and CEO Sameer Nigam in June 2022 dismissed the reports, saying, “PhonePe is not planning an IPO right now. We are focusing on building our business, and will go public once our core businesses turn profitable and our new initiatives have achieved a good product-market fit and scale,” according to a PTI report. As part of the separation of the two companies, the existing shareholders of Flipkart Singapore and PhonePe Singapore, led by Walmart, have taken up equity directly in PhonePe India. Walmart will continue to be the largest shareholder of PhonePe and Flipkart, according to the statement. “We are looking forward to the next phase of our growth as we invest in new businesses – like insurance, wealth management and lending, while also enabling the next wave of growth for UPI payments in India. This will help propel our vision to provide billions of Indians with financial inclusion,” said Nigam in the statement. The separation of Flipkart and PhonePe could also have an impact on the former’s valuation – while the e-commerce giant is currently valued at $37.6 billion after a fundraise of $3.6 billion in 2021, it was <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">reportedly</a> seeking a $60-70 billion valuation for its planned IPO in the US in 2023. <cmsannotation type="cmsannotation" annotationid="PhonePe is the current market leader in UPI payments in the country" comment="subhead" text="PhonePe is the current market leader in UPI payments in the country">PhonePe is the current market leader in UPI payments in the country</cmsannotation> PhonePe currently has over 400 million UPI users in the country, with a 46% market share in terms of payment volumes and a 49% share in terms of payment values, as of November, according to data from the National Payments Corporation of India (NPCI). Apart from this, the company also has 35 million merchants covering 99% of the pincodes in the country. It also has 1.1 million sellers on its platform, including small and medium businesses, artisans and craftsmen. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-retail-to-acquire-wholesaler-metro-cash-carry-for-2850-crore/articleshow/96415905.cms">Reliance Retail to acquire B2B wholesaler Metro Cash &amp; Carry for ₹2,850 crore</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-load-up-on-realty-stocks-in-the-first-half-of-december-total-inflows-edge-up-to-9017-crore/articleshow/96393580.cms">FPIs load up on realty stocks in the first half of December, total inflows edge up to ₹9,017 crore</a>

Flipkart and PhonePe complete separation six years after acquisition

<ul><li>The campaign highlights <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>’s unique benefits for its sellers such as 0% Commission and a 2-step registration.</li><li>The Flipkart platform has a base of over 2 lakh sellers and 40 crore customers.</li></ul>Flipkart, India’s homegrown e-commerce marketplace, today announced the return of <keyword id="2878385" type="General" weightage="20" keywordseo="Flipkart-Seller-Hub" source="Orion">Flipkart Seller Hub</keyword>’s signature campaign #BachonKaKhel with three new films. The campaign highlights the unique benefits of the Flipkart platform – such as ease of doing online business with Flipkart's trusted base of over 4 lakh sellers and 40 crore customers and 3,000 delivery hubs that ensure fast and seamless delivery of packages. <div type="Youtube" id="BGnR6N8s-pE" title="Sell at 0% Commission | Bachon Ka Khel | Sell on Flipkart" thumbUrl="https://i.ytimg.com/vi/BGnR6N8s-pE/mqdefault.jpg"></div> “Bachon Ka Khel”, as the name suggests, talks about how running an online business on the <keyword id="6811553" type="General" weightage="50" keywordseo="flipkart-seller" source="Orion">Flipkart Seller</keyword> Hub is as easy as child’s play. The film features <keyword id="5341427" type="General" weightage="20" keywordseo="Bijendra-Kala" source="Orion">Bijendra Kala</keyword> as an agitated seller, <keyword id="66161" type="General" weightage="20" keywordseo="Namit-Das" source="Orion">Namit Das</keyword> as an enthusiastic seller, and Divyansh Dwivedi as the ‘bacha’ guide who explains how easy it is to do business on Flipkart. <div type="Youtube" id="KNdSQ7yOVxs" title="Pan India Fast Delivery | Bachon Ka Khel | Sell on Flipkart" thumbUrl="https://i.ytimg.com/vi/KNdSQ7yOVxs/mqdefault.jpg"></div> Conceptualized by Art-E MediaTech, this is the second part of the “Bachon Ka Khel” campaign. It explores the journey of the film’s cast as they venture into online selling and discover new growth opportunities. The film touches on some of the challenges that one might face – such as selling expensive products, or issues with long delivery times – and explains how these are addressed by the features of the Flipkart Seller Hub. Each brand film commences with Namit, the technology-savvy seller, talking about the latest updates and growth opportunities on their seller portal. Hearing him, the agitated seller, Kala, asks dubiously - “Bachon Ka Khel Hai Kya?”. At this point, Divyansh, the child, enters and explains the features of the Flipkart Seller Hub and how one can avail of tremendous growth opportunities by becoming a seller through a simple two-step process. Sharing his views on the campaign, Anshul Vasu, Senior Marketing Manager, Flipkart Marketplace said, "Flipkart offers a hassle-free process for all sellers to understand the system, expand their online business and enhance their selling experience by opting for our features and promotions. We constantly upgrade the seller portal with new features that help them boost their business and maximize profits. Moreover, we keep on adding learning material for our sellers to make sure they are up-to-date. With "Bachon Ka Khel" Part 2, we would like to educate our sellers on the benefits and growth opportunities that Flipkart Seller Hub offers, and encourage aspiring entrepreneurs to come forth." Rohit Sakunia, Co-founder and Chief Business Officer, Art-E MediaTech, said, “With more and more businesses leveraging technologies and online platforms to keep pace with the changing times and market landscape, we are working with Flipkart to find new campaign approaches in which we can engage with existing and prospective sellers. #BachonKaKhel narrates Flipkart Seller Hub’s salient features in a light-hearted, easy-to-understand manner with a clear message on how easy it is to embark on an entrepreneurial journey with Flipkart. We are closely tracking the campaign performance and expecting a sign-up rate twice as high as we witnessed previously. The campaign results and insights will also guide Flipkart in creating greater value for Flipkart Seller Hub as well as the sellers.”

Flipkart Seller Hub's new ad shows how running an online business is as easy as child’s play

<ul><li><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> is the new kid on the block that has emerged as a challenger to <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> with 120 mn users</li><li>Aims to bring 100 mn small sellers across India online</li><li>The newly minted unicorn is looking at going public in less than two years after it turns profitable.</li></ul>Shaan Ansari is a 19-year old entrepreneur who lives in the historic city of Panipat, 100 kms north of Delhi, and he may never qualify for any list celebrating under-20 entrepreneurs, but his story is no less inspiring than Ranveer Singh’s character in Gully Boy. The pandemic put his father out of work and Ansari out of school back in 2020. When crisis struck, Ansari went scouting for opportunities online that would require zero investment and he found it in Meesho, a social commerce platform that is designed to help solo entrepreneurs and small businesses sell their wares to a wider audience. Ansari sourced bath mats and door mats made locally and started selling them on Meesho. When his suppliers could not meet the demand, Ansari borrowed money to start his own factory. Today he manufactures these mats from a rented factory, employs 50 people and clocks revenues of ₹30 lakh a month. It is transformational stories like Ansari’s that keep Meesho’’s co-founder and CEO Vidit Aatrey and his team going. Recalling his trip to Panipat, Aatrey, says, “The neighbourhood that Ansari lives in is a really humble one and his home actually doubles up as a warehouse. When I visited him, his staff and family offered dry fruits with chai. Ansari kept telling us how his family’s fortunes have changed after he discovered Meesho. As a team we travel every quarter to listen to sellers like Ansari on our platform and are now attempting to solve some of their other financial needs so that they don’t have to go to money lenders for working capital needs.” <div type="image" title="Meesho_1 (1)" height="900" width="1200" msid="93702892" hostid="261"></div> 100 million sellers to reach a billion buyers Aatrey’s dream is to get a million local businesses online so that they expand their markets by selling wares across India, irrespective of where they are located. In the last two years, this new kid on the block has emerged as a challenger to the Big Boys of e-commerce. Meesho - which is a short code for ‘my shop’ - has gotten bigger after the pandemic with 120 million monthly active users (MAUs) in a short span of time. Flipkart and Amazon have 200 million registered users each. Meesho’s target is to have 100 million sellers on its platform and sell to a billion buyers. Meesho was born on the premise that for online commerce to genuinely offer value, local retailers had to go online. Unorganized retail accounts for 90% of India’s spends. But when Aatrey and his co-founder Sanjeev Bamwal discovered that the sellers were not coming online because the buyers were not all shopping online. The pandemic has enabled Meesho to bring a lot more local businesses online as it was a matter of their survival. Challenging Amazon and Flipkart In the early days, Meesho’s sales were driven by 15 million women resellers, who bought products from the platform and sold it through WhatsApp and Facebook groups. From being a social commerce platform driven by re-sellers, it today has a share of nearly 30% in total daily online deliveries. Of the 9 million e-commerce orders processed daily, Meesho accounts for 2.7 million, while the two biggies account for 5 million. Clearly, Meesho is the challenger that nobody expected would catch up with Amazon and Flipkart. Another interesting statistic says that of the 70 million shoppers online, only 10 million are digital natives. It is a no-brainer then that India’s small businesses can provide the network effect to any online commerce platform that chooses to target this segment. Meesho waded into this space back in 2015, but found it tough to convince small entrepreneurs to come online because their customers were not online either. Language barriers and quality of internet speeds were only a few reasons why sellers were not online. Even when they brought sellers online, their buyers were still not online nor was Meesho’s app on too many smartphones. This changed after the pandemic but before that it was Meesho’s army of 15 million women resellers that drove its gross merchandise value up until 2020. Meesho is called a social commerce channel because it has been built by women resellers who found a vocation and economic independence by reselling goods purchased from the platform on WhatsApp and Facebook groups. Between 2017 and 2020, 100% sales were happening through resellers. The share of these women resellers is now down to 20% as consumers have now started downloading the app. Meesho’s monthly average users stand at 120 million and 35 million users transact on the app every month. On an average, 110 million Indian shoppers bought on Meesho last year. Not surprising that investors have also queued up to invest in the company. After raising seed capital of $300,000 from angel investors in March 2016, Meesho is valued at $4.9 bn after its latest round of capital raise of $570 mn in September 2021. Its list of marquee investors include Soft Bank Vision Fund 2, Prosus, Fidelity Management and Research, Yuri Milner’s DST Partners, Sequoia, SAIF Partners and Y Combinator among others. Sellers turn brand ambassadors <div type="image" title="Meesho_2 (1)" height="900" width="1200" msid="93702936" hostid="261"></div> Currently, there are six lakh sellers like Ansari on Meesho and the start-up wants to take this to one million. This goal may be work-in-progress, but every week employees join the Meesho Sabha, a meeting where examples like Ansari are discussed at length so that the team does not take its eyes off the goal post. Even though Meesho continues with its outreach programme to help sellers, existing sellers have now become brand ambassadors who are helping others get online. The platform offers peer-to-peer learning in several languages for those who want to get started. Says Dhiresh Bansal, chief financial officer of Meesho, “We still do our outreach programmes but a lot of people are now coming to our platform, as they need to diversify by targeting newer markets. Also the younger generation is more progressive and are taking their family businesses online.” After its success in the last two years, Meesho’s working hard to resolve several issues of sellers on its platform. Most of these sellers have seen a sharp rise in demand for their products after going online and the need for working capital requirement has gone up sharply. Lucknow-based Suman Agrawal used to sell women’s fashion clothing at her boutique but has shut it down after her brand Rudraksh saw sales boom on Meesho. She currently manages 22,000 orders a month. There are several sellers in India who cannot go online because they don’t have the requisite GST number. Aatrey has been a votary of their cause for a while. In June this year, the GST Council cleared a proposal that will no longer require sellers on e-commerce platforms to have a GST registration, if their turnover is less than ₹40 lakh and ₹20 lakh for goods and services respectively. This rule will come into effect from January 2023. Aatrey believes that this will be a game changer for millions of small sellers across India. While the company is not looking to raise capital immediately, it has plans to turn profitable and then hit the markets in a couple of years. The e-commerce player is looking at tightening its belt on costs now that it has attained scale. If it has to turn profitable in under 2 years then Meesho will have to cut back on cashburn and conserve capital. Aatrey says, “This festive season will give us an indication if there is any slowdown. We have not seen that so far, so it will be something that we will learn from.” <div type="image" title="Meesho_3 (1) (1)" height="900" width="1200" msid="93703012" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/not-just-ev-makers-there-are-many-more-stocks-that-can-gain-from-ev-play/articleshow/93696654.cms">Not just EV makers, there are many more stocks that can gain from EV play</a>

Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

<ul><li>The net profit of <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> grew nearly five-fold in the July-September quarter, while <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> recorded a 300% uptick.</li><li><keyword id="54613" type="General" weightage="20" keywordseo="makemytrip" source="Orion">MakeMyTrip</keyword> cut its loss to a third and its revenue touched $67 million in the last quarter.</li><li>The segment is expected to see a greater push as revenge travel grows and cases of COVID-19 continue to lay low.</li></ul>Indian Railways Catering and Tourism Corporation (IRCTC) as well as online ticketing platforms EaseMyTrip and MakeMyTrip have increased their net profit in the July to September quarter of 2021, which hints towards a strong recovery for the travel and hospitality sector that has been majorly impacted by the COVID-19 pandemic since March 2020. The net profit of IRCTC grew nearly five-fold compared to last year. Its revenue, on the other hand, grew four-fold in the same time frame. The company has further doubled its financial metrics compared to the April-June quarter of 2021 that was clouded by the second wave of COVID-19. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506492" hostid="261"></div> EaseMyTrip — which is operated by Easy Trip Planners Limited — reported over 330% year-on-year increase in its consolidated net profit. The company’s revenue has grown another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506502" hostid="261"></div> “We have witnessed strong recovery in demand across our segments and are optimistic of the demand scenario going forward on the back of strong tailwinds in terms of revenge travel and recovery in the travel and tourism industry,” EaseMyTrip noted in its financial statement released on November 3. The company believes that India’s travel segment will witness a ‘U-shaped recovery’, with domestic travel taking a leap over international travel. The company’s share prices catapulted 5% post its financial performance. The shares of EaseMyTrip were trading at ₹531 at 11:35 a.m., on November 3. MakeMyTrip — which is the largest player in the online ticketing space — too reported a much stronger growth in the July to September quarter. The company’s revenue grew 219% year-on-year to $67 million (about ₹500 crore). Its loss was cut nearly by a third to $8 million (about ₹60 crore). <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506518" hostid="261"></div> MakeMyTrip and EaseMyTrip both witnessed a strong demand in air travel, which was a major contributor to its revenue. The company offers booking of air tickets, bus tickets, train tickets, hotels and holiday packages, among other services. IRCTC, on the other hand, provides ticketing, catering and tourism services for Indian Railways. “MakeMyTrip continued to lead and be instrumental in the recovery of travel in India as the country’s new daily reported COVID-19 infections have declined significantly since May 2021, aided by over one billion vaccine doses that have been administered so far. The results of the reported fiscal quarter clearly showcases the durable strength of its multiple brands, driven by its relentless focus on serving its customers with the best possible experience for their travel booking needs,” Deep Kalra, group executive chairperson of MakeMyTrip, said. Other players in the segment are Goibibo (owned by MakeMyTrip), Cleartrip (acquired by Flipkart), publicly traded Yatra, initial public offering (IPO)-bound ixigo and more. SEE ALSO <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms" data-type="tilCustomLink">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms" data-type="tilCustomLink">Data analytics firm Latent View Analytics’ IPO to open on November 10</a> <a href="https://www.businessinsider.in/stock-market/news/policybazaar-ipo-today-is-the-last-day-to-subscribe/articleshow/87489212.cms" data-type="tilCustomLink">PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150</a>

The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India

<ul><li>The Indian ecommerce space may soon run out of space to accommodate any more players if another big player tries to make an entry, according to a report.</li><li>Bernstein has maintained that the Indian ecommerce sector would not be a “winner take all” opportunity.</li><li>The four biggest players in the segment are <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword>, <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword>, <keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> and Tata Digital.</li></ul>Every big Indian business has been chasing the ecommerce space, which is expected to clock <a href="http://www.businessinsider.in/business/ecommerce/news/india-will-have-more-ecommerce-users-by-2025-than-us-population/articleshow/92062424.cms">half a billion users</a> by the end of this decade. Whether it’s Amazon, Flipkart, Reliance JioMart or Tata Digital’s latest super app <keyword id="12651286" type="General" weightage="20" keywordseo="Tata-neu" source="Orion">Tata Neu</keyword>, everyone has been leaving no stone unturned to dominate the customer demand and mindspace. Now, a new report by JM Financial has revealed that we may soon run out of space to accommodate any more players. The Indian financial services company noted that the entry of another large player into the already “crowded” ecommerce space could instead lead to further consolidation, which will be harmful for smaller players trying to make a mark. “Smaller “me-too” players are likely to lose out. Further, we see these large players continuing their hunt for specialised e-commerce players to fill their portfolio gaps in order to maintain leadership. Besides, we could see them acquiring e-commerce enabling companies, e.g., logistics, data analytics, etc. to support organic growth,” the report added. Meanwhile, Bernstein has maintained that Indian ecommerce would not be a “winner take all” opportunity due to low ecommerce penetration of different categories and customer segmentation. The private wealth management firm noted that ecommerce is the largest segment in India internet and is expected to grow more than five-fold to reach $133 billion by 2025. <cmsannotation type="cmsannotation" annotationid="Tata Neu may eat into Amazon, Flipkart and Reliance’s share" comment="subhead" text="Tata Neu may eat into Amazon, Flipkart and Reliance’s share">Tata Neu may eat into Amazon, Flipkart and Reliance’s share</cmsannotation> Tata Digital’s superapp Tata Neu — which brings all of its digital services and apps on a single platform — is the latest one to join the battle. Even though none of the brands or banners launched under the super app are new, the consolidation of them all under one banner has given an advantage to the company especially when it comes to personalisation of products. JP Financial noted that Tata Neu sells almost 95% of overall e-tailing segments, ranging from electronics to clothes to shoes to groceries through brands like Westside, Tata CLIQ, Croma and BigBasket. The platform also offers flight tickets, jewelry and would add more product lines or brands in the time to come. It is expected to clock<a href="https://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms"> $20 billion in sales</a> by the end of this decade. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monthly Active User </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 million* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30 million* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance JioMart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/news/dmart-and-jiomart-are-offering-deep-discounts-to-catch-up-with-bigbasket/articleshow/86750826.cms#:~:text=According%20to%20the%20report%2C%20BigBasket,and%20DMart's%205%20million%20each.">5 million</a> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Neu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/news/tata-neu-has-been-downloaded-2-2-million-times-in-the-last-one-week/articleshow/90848701.cms">2.2 million**</a> </td></tr></tbody><tbody></tbody></table>Source: Media reports, Jefferies, Bernstein *The Data is based on Bernstein analysis **Tata Neu announced that it recorded 2.2 million downloads in the first week of its launch in April 2022. Tata Neu is well placed to take market share away from its existing competitors like Flipkart, Amazon, Reliance Retail, the report added. Reliance Industries had launched JioMart in 2019 to sell groceries online, the platform maily competed with BigBasket (now owned by Tata) and Zomato-backed Grofers (now called Blinkit). The Mukesh Ambani-led company later decided to expand JioMart’s offering to include clothes, accessories, household items and more to give tough competition to Amazon and Flipkart. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/paytm-could-be-entering-a-low-cost-high-profit-margin-regime-say-a-brokerage-firm/articleshow/92054964.cms" style="">PayTM could be entering a low cost-high profit margin regime, say a brokerage firm</a> <a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms" style="">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms" style="">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a>

After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player

<keyword id="62034" type="General" weightage="20" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> (PNB) on Thursday reported a two-fold jump in standalone net profit at Rs 1,126.78 crore for the third quarter ended December. The state-owned bank had earned a net profit of Rs 506.03 crore in the year-ago period. However, total income during October-December 2021 declined to Rs 22,026.02 crore as against Rs 23,298.53 crore in the year-ago period, PNB said in a regulatory filing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/boat-sells-about-eight-out-of-ten-products-on-amazon-and-flipkart-which-it-states-as-a-risk-factor/articleshow/89155645.cms">About eight out of ten BoAt products are sold on Amazon and Flipkart, but the company has concerns around it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ola-electric-plans-to-hire-200-automotive-engineers-designer-for-its-uk-center/articleshow/89157318.cms">Ola Electric is now looking to invest $100 million in setting up an R&amp;D centre in UK that will hire 200 engineers</a>

You Searched For "flipkart profitability" and got 11 results

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

BI India Bureau

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

Kritti Bhalla

Flipkart may reduce workforce by up to 7%, affecting 1,500 employees

IANS

Countdown to Flipkart's 10th Big Billion Days: A tribute to entrepreneurs, featuring Mohammed Imran and Limraz Furniture

Insider Studios

Empowering communities: The impact of Flipkart Samarth's social entrepreneurs

Insider Studios

Flipkart and PhonePe complete separation six years after acquisition

Rounak Jain

Flipkart Seller Hub's new ad shows how running an online business is as easy as child’s play

BI India Partner

Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

Malini Bhupta

The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India

Kritti Bhalla

After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player

Kritti Bhalla

Punjab National Bank's net profit more than doubles to ₹1,127 crore

PTI

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