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<ul><li>Redseer report on Digital Disruptor ranked 75 digital disruptors that currently generate $15 billion in sales online. </li><li>It also classified them into elephants, tigers, rabbits and turtles based on their category dominance and online focus. </li><li>Tigers and rabbits will have to enhance their focus on offline sales, while elephants and turtles will have to approach e-commerce aggressively, the report notes. </li></ul>The world is going digital and all companies – small, big, old and new are adapting to it. Come 2026, a quarter of all sales in the retail world (except grocery) will be online, predicts a Redseer report on Digital Disruptors. The report picked 75 companies in the crowded online space as digital disruptors, who cumulatively currently generate $15 billion in sales online, and ranked them based on the dominance in their category, and online focus. Surprisingly, traditional companies Hindustan Unilever and Aditya Birla Fashion &amp; Retail were ranked as top digital disruptors in grocery &amp; personal care, and fashion &amp; home categories, respectively. In the third category of electronics &amp; appliances, however, digital-first brand boAt was given the numero uno rank. The animal spirits In the jungle that is e-commerce, these 75 companies were also categorised as elephants, tigers, rabbits and turtles. No prizes for guessing who elephants are – typically legacy players who used to dominate their category offline, and have managed to build an online presence. “The sheer scale of elephants and brand pull has enabled them to get significant sales online, but e-commerce still contributes a relatively small share of their revenues,” the report said. Adidas, Zara, Nestle and Marico are some of the other brands listed under elephants. The next are the tigers – early movers in the e-commerce space that have scaled up rapidly. Licious, WakeFit, Mamaearth and Xiaomi are some of the brands in this part of the quadrant that is dominated by digital-first brands. But, Asus and BBK, which are not born digital also made it to this list. “Tigers have built online dominance in their categories. They drive a significant share of sales from e-commerce but have also built a strong offline footprint,” the report said. Rabbits: Yet to win the race The third category is rabbits, which are exclusively digital-first brands that have leveraged e-commerce to scale up but do not have a substantial market share. Most of the brands in this category, like Nothing, Beardo, Sugar Cosmetics, MyGlamm, Minimalist, Country Delight and more – are from the fashion and personal care space. Thanks to high growth in e-commerce sales, these players will benefit but will face challenges from elephants, who have established their presence both online and offline. The last set of companies in the quadrant are the slow-moving turtles – legacy brands that have done well in e-commerce but have a lower market share online relative to others. Fossil, Aachi Masala, Prestige and LG Electronics are some of the brands listed as turtles. The reverse migrants Digital-first brands account for 25% of all the sales in the e-commerce pie. However, now even digital-first brands are going offline, challenging traditional players in the turf erasing the battle lines. On an average, digital-first brands derive over 75% of their sales online while traditional brands do over 30% of their sales online. “Players in the top quadrants — tigers and rabbits — will have to enhance their focus on offline sales, while the bottom quadrant — elephants and turtles – will have to approach e-commerce aggressively,” says Mohit Rana, partner at Redseer. E-commerce is expected to drive retail growth and is projected to grow at a compounded annual rate of 27% to reach $163 billion by 2026. That’s almost three times the growth in the overall retail market, as per Redseer. “Clearly, traditional companies that are over indexed on offline sales have a short window to enhance their share in e-commerce.They need to focus on building their digital capabilities and adopting an omnichannel approach to succeed in the market,” said Redseer. Large-scale traditional players, even with a low percentage of e-commerce sales, have substantial absolute online sales, the report notes. SEE ALSO <a href="https://www.businessinsider.in/business/news/as-stores-remain-at-heart-of-business-retail-leasing-to-hit-a-4-year-high-in-2023-cbre/articleshow/99085535.cms">As stores remain at ‘heart of business’, retail leasing to hit a 4-year high in 2023: CBRE</a> <a href="https://www.businessinsider.in/advertising/brands/news/campa-has-to-go-beyond-invitation-price-to-build-the-brand-distribution-network/articleshow/99025480.cms">Campa has to go beyond invitation price to build the brand &amp; distribution network</a>

Meet the tigers, elephants, rabbits and turtles of the e-commerce jungle

<ul><li>Investors looking to participate in India’s ecommerce story will need to keep in mind that the valuation will continue to be premium even for those startups that are turning in a small profit.</li><li>For better monetisation, <keyword id="3480589" type="General" weightage="100" keywordseo="meesho" source="Orion">Meesho</keyword> is also entering categories where brands tend to do well. It currently offers brands like Decathlon, Marico and Nivea on its platform.</li><li>It is also exploring a low-cost grocery model in some smaller cities, which it plans to scale if unit economics justify the investments. </li></ul> Meesho, a horizontal ecommerce player that caters to unorganised sellers, has its task cut out before its public listing 12-18 months down the line. The marketplace will not repeat the mistakes some of its new age peers made while tapping public markets. The marketplace may be the first horizontal ecommerce platform to turn profitable, but it is just the beginning of an arduous journey, given that many investors have burnt their fingers by investing in IPOs of new age companies. Share prices have not kept up with the hype that surrounded these companies, which suggests that investors will not chase such pricey companies no matter how fast they are growing. So how different will Meesho be from the other new age tech platforms that tapped public markets? In conversation with Business Insider, Meesho’s chief financial officer Dhiresh Bansal said they have reflected on the experiences of investors who participated in IPOs in 2021 and 2022. The key takeaway is that valuations were high because there was a lot of free money floating around. He says: “But public market investors are focused on profitable growth. Our point of view is that we want to make sure we run a decent track record of profitable growth if we aspire to get listed. We are targeting to grow revenues by 40% and accelerate it a little more by putting investments back, but we will continue to be profitable.” Clearly, the new mantra for startups today is to be profitable but the size and scale of the profit pool will not impress if compared to the larger companies. Investors looking to participate in India’s ecommerce story will need to keep in mind that the valuation will continue to be premium even for those startups that are turning in a small profit. Call it a scarcity premium, if you will. Explains Bansal: “The investment phase of the company in the new age world is slightly longer but they generate very large pools of cash over a period of time. This is true for unprofitable or small profit companies.” Bansal cites examples of some companies in the US that had a small profit pool to report when they got listed a decade ago. But now these companies churn out large amounts in profits. Therefore, these new age companies cannot be compared to traditional companies. Bansal says that even as fixed costs remain the same over a period of time, on a higher base these companies tend to generate a lot more in profits. Currently, Meesho has 140 mn users who visit the app every month and 40 mn, who open the app everyday. With a revenue growth target of 40% year-on-year, Meesho believes it can earn more without fixed costs going up. In addition to controlling costs and boosting operational efficiency, Meesho is also tweaking its categories and model to earn more in some categories. Even though it continues to largely be a platform for unorganised/small sellers from across India, you can find some brands too as the platform provides a differentiated experience to branded players too. Says Bansal, “Our business is largely unbranded, but we have introduced brands in some categories. We have brands like Decathlon, Marico, Nivea and other D2C brands in the marketplace other than brands in the beauty and personal care category.” Monetisation in these categories is much better than the unbranded segments. The cashburn may have slowed and Meesho’s business may be cashflow positive, but a public listing will not just look at raising fresh capital. The issue will be a mix of fresh issue of shares and offer for sale by existing shareholders. Explains Bansal: “We don’t need fresh capital for growth as we have almost $400 mn in the bank. People will decide whether they want to exit or remain on for a longer period— but It will be a mix of primary and secondary offering at the IPO but it will be largely towards secondary.” This suggests that existing investors will look at a partial exit whenever Meesho hits the public market. The platform is also experimenting with other categories as it looks to diversify from its existing mainstay – apparel, beauty and kitchenware. Meesho wants to sell consumers everything but smartphones, electronics and groceries. Adds Bansal: “We have been experimenting with groceries and beyond the convenience model that works in metro and Tier 1 cities but there is a low priced model of groceries that can work in Tier1 and Tier 2 cities. We are running pilots and once we are sure about the unit economics we will scale the business.”

Key facts to know before Meesho’s IPO hits the market

<ul><li>The government rolled out the Consumer Protection (<keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">E-Commerce</keyword>) Rules of 2020, two weeks ago.</li><li><keyword id="46130" type="COMPANY" weightage="20" keywordseo="IAS">IAS</keyword> Aruna Sharma highlighted that the e-commerce platforms should not be treated so differently, as retailers follow similar practices too.</li><li>While the retailers are celebrating the regulation at the moment, this may be going to do more harm to them as e-commerce liberalised trade.</li></ul> The government of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> updated its draft e-commerce policy earlier last week, in an attempt to create a level playing field for small retailers that still operate, majorly, out of brick-and-mortar stores. The amendment has been lauded by several traders and associations like the Confederation of All India Traders (<keyword id="853920" type="ORGANIZATION" weightage="20" keywordseo="CAIT">CAIT</keyword>), but industry experts fear that the policy may not be in their best interest. In a recent webinar conducted by public-policy think-tank ‘The Dialogue’ on the “Draft <keyword id="7222389" type="UNKNOWN" weightage="20" keywordseo="e-commerce-rules">e-commerce rules</keyword> and its impact on the industry”, industry experts highlighted that the ecommerce industry and the <keyword id="6354851" type="UNKNOWN" weightage="20" keywordseo="retail">retail</keyword> industry will have to coexist, not only in the best interest for the end customers, but for themselves. <keyword id="1168444" type="PERSON" weightage="20" keywordseo="Deepak-Shetty">Deepak Shetty</keyword>, director of software solutions firm Zed-Axis Technologies, highlighted that the Indian micro, small and medium enterprises (MSMEs) are reaching out to the <a href="https://www.businessinsider.in/business/startups/news/new-technology-is-putting-conventional-jobs-out-of-business-msme-exchange-panelists-highlight-on-how-it-helps-in-the-long-run/articleshow/84013275.cms">global market </a>these days and it would not have been possible without ecommerce platforms. “I [from the perspective of a small seller] would have to spend so much more money to set up offices abroad and go to trade shows, but today I am able to do it at the least possible cost,” he added. Meanwhile, Aruna Sharma, an Indian Administrative Service (IAS) officer and former secretary to the government of India, noted that the consumer behaviour is now shifting towards e-commerce portals, just like it shifted to malls over a decade ago. The retail and e-commerce platforms will have to coexist, as technology takes over. Meanwhile Sharma highlighted that the e-commerce industry should not be treated so differently from the retail industry. Though e-commerce platforms are <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-and-flipkart-may-have-a-new-headache-as-indias-e-commerce-policy-could-also-question-their-algorithms/articleshow/81512786.cms">barred</a> from giving preferential treatment to any sellers under the foreign direct investment (FDI) rules, retailers are free to do so. She explained any retailer can position the products based on the commission they earn on their sale, but e-commerce companies are not allowed to apply similar tactics to promote products that give them higher commissions. Similarly, Shetty noted that the e-commerce policies are not something dynamic, but are based on the practices that even retailers follow. “If I remove the ecommerce from the guidelines and put retail in it, it will still mean the same. I cannot hold the platform responsible for a seller,” he added. Minimal policy may be the best way out to help sellers Jehangir Gai, joint honorary secretary of the Consumer Welfare Association emphasised that minimal regulation is required in this space to ensure that the consumers’ demands are met. He also highlighted that more regulations lead to more corruption and interference. “The objective is laudable, but the methodology is flawed,” he added. He also agreed that there are some issues within the segments, but “let’s not kill the entire industry, in the name of a few black sheep.” Echoing Gai’s thoughts, Shetty drew comparisons between the real world and a classroom. “Let teachers make rules or allow students to come up with their own ideas to find the solutions. Second part where we nurture creativity, and that’s the one that works. Restriction is going to lead to restricted business growth,” he added. The latest amendment to the Consumer Protection (E-Commerce) <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-may-not-be-able-to-do-flash-sales/articleshow/83737670.cms">Rules </a>of 2020 have barred e-commerce companies from carrying out flash sales that offer products at “significantly reduced prices, high discounts or any other such promotions or attractive offers for a predetermined period of time on selective goods and services or otherwise with an intent to draw large number of consumers.” Grievance system may prove beneficial for customers It also aims to smoothen the grievance redressal process on e-marketplaces by making it mandatory for each of these platforms to appoint a Chief Compliance Officer, a Resident Grievance Officer and a nodal contact person in India. Commenting on the same, Zed-Axis’ Shetty said that there should definitely be a grievance officer, but the government should give them “enough teeth to make decisions in the favour of the consumer”, otherwise it’s not really the right solution. However, Gai noted that the Indian grievance-redress mechanism has failed across other segments and it may happen in this segment as well. He also mentioned that flash sales help consumers. “For over the years, we had monopolistic practices and restrictive trade behaviour, I think it comes from traditional systems. I think these flash sales ultimately help the consumers,” he said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/failure-to-pivot-covid-19-blues-force-amazon-backed-shuttl-to-look-for-a-buyer/articleshow/84056797.cms">Failure to pivot, COVID-19 blues force Amazon-backed Shuttl to look for a buyer</a> <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-and-family-slip-out-of-worlds-top-20-billionaires-as-per-forbes/articleshow/84062686.cms">Gautam Adani and family slip out of world’s top 20 billionaires, as per Forbes</a> <a href="https://www.businessinsider.in/policy/economy/news/restaurants-are-starting-to-hire-robots-instead-of-people-who-are-demanding-higher-pay/articleshow/84053058.cms">Restaurants are starting to hire robots instead of people who are demanding higher pay</a>

Why restrict e-commerce players like Flipkart and Amazon when offline retailers follow the same practices, ask industry experts

<ul><li>The pandemic and lockdown period has brought many new learnings for all businesses, and e-commerce has undoubtedly been one of the sectors with the biggest takeaways.</li><li>As we enter a new year, we reached out to e-commerce platforms to understand what role it would play in 2022.</li></ul>The e-commerce segment has been witnessing a good growth over the last few years and has been showing no signs of slowing down in India. And why would it? Hasn’t shopping become so much easier now? We can buy anything, from groceries and perfumes to expensive jewellery, from the comfort of our homes. The pandemic further brought fundamental and long-term changes in the way people shop and make their purchase decisions. It has accelerated the industry’s growth in the country as historically offline shoppers also downloaded ecommerce apps onto their phones to shop from within the safety of their four walls. The past year and a half has brought millions of new e-commerce users, including from smaller cities and towns who now are comfortable with buying online. The industry has witnessed an uptick of 77% between 2020 and 2021 and Tier II, III cities are transacting more than ever, said a recent report by Bobble AI. This trend has pushed e-commerce platforms to embrace a wide range of regional brands and local sellers, which offer a compelling value proposition to consumers. With increasing internet penetration, e-commerce players are expecting new growth from Tier II, III and beyond, which will cumulatively contribute to $150 billion of e-commerce as per RedSeer Consulting’s report. The Indian market is expected to surpass the US to become the second-largest e-commerce market in the world by 2034, revealed another <a href="https://www.ibef.org/industry/ecommerce-presentation">report</a>. It is poised to reach US$99 billion by 2024 from US$30 billion in 2019, expanding at a 27% CAGR, with grocery and fashion becoming the key drivers of this incremental growth. As we enter a new year and e-commerce further expands its presence deeper into the country, we speak to a few e-commerce platforms to discuss what lies ahead, where would the second phase of growth come from and trends that would dominate the industry. Here’s what they had to say: <keyword id="1922572" type="General" weightage="20" keywordseo="manish-taneja" source="Orion">Manish Taneja</keyword>, Founder and CEO <keyword id="1688931" type="General" weightage="20" keywordseo="purplle-com" source="Orion">Purplle.com</keyword>: The year has witnessed major growth in the beauty ecommerce industry, ushering in the next year with great potential. In 2022, the emergence of virtual reality tools will fuel the industry. Offering virtual beauty experiences that seamlessly merge with an omni-channel approach will be the norm. Over the next year, we at Purplle will invest heavily in technology and data science advancements to further personalize customer experience. Natural, transparent beauty products, effortless shopping with shorter delivery times, data-based product development, and value-driven experiences, are some of the other trends that will emerge in 2022. Bharati Balakrishnan- Country Head and Director, Shopify India: The Indian ecommerce market will continue to evolve in 2022, with D2C brands taking centrestage, driven by growing consumer demand and local brands increasingly making ecommerce a priority. On the one hand, the new shopping habits formed over the past 18 months will become an important factor: consumers have embraced online shopping and are actively choosing small, independent brands. This means that D2C brands are here to stay, and we anticipate the emergence of a new generation of proudly Indian brands across food, fashion and lifestyle. Simultaneously, traditional brands and retailers who dominate offline are evolving to meet the demands of the new consumer - they are building to provide a consistent experience to their consumers across online and offline, and would like to use their own online stores to truly extend their brand promise to existing and new customers. It’s an exciting time to be a consumer brand in India Amit, CEO, <keyword id="9798181" type="General" weightage="20" keywordseo="olx-autos-india" source="Orion">OLX Autos India</keyword>: Rise of the prosumer: The many faces of personalisation With the majority of buyers now clearly preferring online shopping over the traditional format of in-store purchasing, the new trend is inclined towards the forward-thinking, influential and proactive prosumer. Personalisation of the products according to customers preference will be key in 2022. E-commerce marketers will need to integrate personalizing products through advanced technologies in order to provide tailor made and seamless customer experiences. In a cookie-less world, contextual marketing has reared its head in a big way. Targeting consumers has come of age - from category, to keyword, to semantic contextual targeting, now. Many more trends like crypto payments, and dynamic pricing will grow for pure-play retailers. But it is personalization for the prosumer that will chart the way forward. <keyword id="2227756" type="General" weightage="20" keywordseo="prabhkiran-singh" source="Orion">Prabhkiran Singh</keyword>, Founder CEO, Bewakoof: Live video commerce, Virtual trial rooms (or AR/VR driven fit assists), customized lifestyle products and 3D animated UX interactions are the key trends we expect to disrupt shopping experience in the coming year. Video or content commerce would be largely driven by influencer or user generated content. To drive scalability, there will be multiple SAAS companies launching solutions to simplify handshakes between brands and influencers in content acquisition, ingestion and performance driven payments space. Early movers in the space are Myntra Studio, <keyword id="8861782" type="General" weightage="20" keywordseo="trell" source="Orion">Trell</keyword> and Bewakoof Bshots. With large VC investments going into the Web 3.0 and metaverse space, a lot of the product cataloging problems around accurate sizing or fit assessment would become more trivial. We will see brands launching virtual trial rooms, 3D product shoots and fit assistants to bridge the gap between online and offline shopping experience. 3 out of 10 customers who shop on our platform would like to customize their product design and sizing. We see this as a growing trend that multiple brands will adhere to in the coming year. 3D and animated content will become a UX trend in the consumer internet industry. Animations used to be a hindrance to many designers and developers as they may slow the loading speed of websites or apps and it is data consuming. With 5G scaling up and 4G becoming a norm across the country, designers will chose to use more animations. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>: ‘MarTech’, which essentially means amalgamation of marketing with technology, is the future of commerce where brands will run marketing in a digital and connected ecosystem to offer an immersive experience to their customers. With the advancement of technology in marketing, consumers are constantly looking for an enhanced buying experience. Thereby meaning, from 2022 onwards we will witness more technology integrated experiences like development of offline Virtual Reality shopping rooms for consumers. Since VR offers an immersive 360-degree perspective, products in virtual design, especially big-ticket items like furniture can be easily a luscious offering for customers who want an interactive experience with the product before making the decision, therefore, simplifying the buyer’s journey. Going forward, I believe, Martech will play a dominant role in the strategic priorities and investments of brands, pushing marketers to embrace digital operations and integrated customer experience. <keyword id="12792513" type="General" weightage="20" keywordseo="shubh-darpan" source="Orion">Shubh Darpan</keyword>, VP- BI &amp; Analytics, Cashify: From the trends we have seen over the past couple of years, we at Cashify believe that the demand for refurbished mobiles is here to stay. It started with the pandemic and subsequent lockdowns when having a mobile became a necessity. Refurbished devices such as smartphones, laptops, tablets, etc. were seen to be preferred by the Indian consumer. Mainly because of the economic aspect of it, the refurbished market has seen an upward motion in India. Moreover, with the shortage of chipsets, there have been fewer smartphone launches in recent times. This too has been a factor in pushing consumers towards refurbished mobiles. Refurbished smartphones offer an optimal and sustainable solution to today's tech-dependent world and we can see it going a long way. Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury <div type="image" title="Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury" msid="88446509" hostid="261"></div> Inherently, shopping is a social experience. As people continue to spend an increasing amount of time online and on social media, online shopping, which witnessed a huge boost because of the pandemic, is now also becoming social. Social shopping, which is already booming in countries like China, has been gaining momentum in India and will be a leading trend in the coming year. Engaging and immersive formats of selling, such as live commerce, will be at the forefront. In addition, AR and VR will play a crucial role in enhancing the online shopping experience, enabling more personalization, and targeting niche customers. Some of the biggest brands in the luxury fashion and beauty industries are working closely with social media platforms like Instagram and Snapchat to leverage their capabilities of live streaming, in-app shopping, and augmented reality to offer an experience that every luxury customer desires. Snapchat has harnessed the power of technology and introduced an augmented reality lens that allows for a virtual try-on of products. Convenience, personalization, and a sense of community are some of the drivers fuelling the growth of social shopping. The advancement of technology is unlocking a slew of exciting opportunities in social shopping, including user-generated content, virtual product try-ons, direct interaction with brands and peers, and instant gratification. E-commerce platforms will reimagine their strategy to integrate social shopping elements by introducing innovative and engaging formats to bolster their reach and engagement with customers. With social shopping, e-commerce platforms can revolutionize the way people shop on their platforms by presenting a new way of shopping.

Ecommerce: The trends to watch out for in 2022

<ul class="summary-list"><li>Fanatics will take over as the official uniform supplier for the NHL in 2024. </li><li>Adidas has one season left on their 7-year deal but previously announced that they would not renew.</li></ul>Fanatics will be the new supplier of on-ice uniforms for the NHL starting with the 2024-25 season.The American retailer of licensed sportswear and sports merchandise is replacing Adidas, which has one season left on its seven-year deal with the NHL. Adidas had previously announced that they would not renew their deal. The new contract will last for 10 years.Fanatics will also produce the on-ice uniforms for NHL officials and authentic jerseys to be sold at retail. A source told Insider that Fanatics will also work directly with the teams and league to design the new jerseys."This expansion of our partnership with Fanatics is a reflection of our shared commitment to innovation, performance, and serving our players and fans," NHL Commissioner Gary Bettman said in a statement. "Our players and fans should look forward to what Fanatics will bring to the best uniforms in all of sports."Fanatics is not new to the world of professional hockey. They have been an NHL partner since 2005, including making and supplying Authentic Pro performance and training products for the league and running its online retail site. They have also <a href="https://www.espn.com/nhl/story/_/id/34307876/adidas-seek-renew-nhl-uniform-apparel-deal-2023-24-season-league-says" target="_blank" rel="noopener">produced the NHL's replica jerseys since 2017</a> and provided the on-ice apparel and hats for the Stanley Cup champions.They are also not new to the world of manufacturing major sports uniforms, a market traditionally dominated in North America by the likes of Nike, Adidas, and Reebok. Fanatics purchased longtime MLB partner Majestic in 2017. Even though Nike acquired the uniform rights and their swoosh has been displayed on MLB uniforms since 2020, they are produced by Fanatics. However, unlike the new deal with the NHL, Nike has worked with the teams to design the new uniforms. So this will be the first time that Fanatics will be involved in the uniform design for a major sports league.<div type="image" title="Shohei Ohtani" height="2450" width="3267" msid="98863844" hostid="261"></div>Fanatics CEO Michael Rubin <a href="https://www.foxsports.com/stories/nba/michael-rubin-selling-ownership-stake-in-philadelphia-76ers-new-jersey-devils" target="_blank" rel="noopener">recently sold his ownership stake in the NHL's New Jersey Devils and the NBA's Philadelphia 76ers</a>, saying at the time that Fanatics had become too big for him to run the company and own teams."This is a seminal moment in the history of Fanatics, and a testament to the hands-on, collaborative relationship with the NHL that we've built over the years," Rubin said about the partnership with the NHL. "Everything we do as a company pushes the boundaries to create more highly engaged experiences and revolutionary products for fans, athletes, and partners, and I can't wait to see our brand on official on-ice uniforms for the first time."

Fanatics will make NHL jerseys after Adidas contract expires, marking the e-commerce company's first branded uniforms for a major sports league

<ul><li>The <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> has always been important to brands, especially to e-commerce players who line up big bumper discounts, look for more retail brands to partner and ramp up their product offerings.</li><li>This festive season, e-commerce platforms are focusing on bringing more personalisation and curation to customers shopping online through greater tech and marketing integration.</li><li>More and more e-commerce platforms are also exploring social commerce, turning their apps into super apps by bringing content, products and trends under one roof for consumers to watch and shop at once.</li><li>With increasing internet penetration, e-commerce players are expecting new growth from Tier II, III and beyond this festive, which will cumulatively contribute to $150 billion of e-commerce as per RedSeer Consulting’s report.</li><li>We speak to India’s leading e-commerce players to find out more about their festive plans and revival expectations.</li></ul>The year 2020 accelerated e-commerce industry, perhaps by a decade, revolutionising the way brands operate, run, and grow their businesses, as well as how consumers choose to shop and pay. In the initial months of the lockdown, businesses witnessed a clear shift in consumer behaviour. Historically offline shoppers also came online due to convenience and safety. Consumers are still hesitant to return to in-store shopping completely and audiences from Tier II and Tier III are also preferring to shop online. The pandemic has evidently caused an inflection point for e-commerce in the country. With the second-largest internet user base, India has emerged as one of the most prominent markets globally. Around 480 million people in India have access to the internet out of which 90 million are online shoppers, according to estimates from management consultancy RedSeer. Shoppers from India’s small towns and cities will cumulatively contribute to $150 billion of e-commerce GMV in the coming decade, until 2030, revealed RedSeer. <div type="image" title="redseer - ecomm report" msid="85901903" hostid="261"></div> After spending a glum year and a half, consumers are excited to celebrate the festive season with upcoming shopping sales for Diwali, Dussehra and Christmas. IPL and ICC T-20 World Cup will further improve consumer sentiment this year. According to a survey conducted by The Trade Desk and YouGov, 82% of consumers shopped online at least once a month in the past six months, and nearly one in four made online purchases several times a week or more often. Titled ‘<a href="https://pages.thetradedesk.com/rs/527-INM-364/images/TheFestiveSeasonPulse2021.pdf">The Festive Season Pulse 2021</a>,’ it further said that 91% of Indian consumers are planning a purchase during the upcoming festive season and six in 10 are interested in learning about new brands during festive season sales. To leverage this uptick in consumer sentiment, the e-commerce category is all set to begin its festive marketing blitz and is preparing to line up big discounts for the season in a few weeks. For this 30-day period leading up to the festive season, leading fashion e-commerce platform <keyword id="319719" type="General" weightage="20" keywordseo="myntra" source="Orion">Myntra</keyword> has planned ‘Big Fashion Festival,’ which will be followed up with Myntra Diwali Sale, with a focus on ethnic wear. It will also be focusing on emerging categories like Beauty and Personal care, kidswear and categories such as innerwear and essentials which have experienced tailwinds post-Covid. Myntra’s Chief Business Officer, Ayyappan Rajagopal said, “We are expecting this festive season to be bigger than last year with more customers using online channels to make their purchases. Demand usually peaks in the 30 days leading to Diwali and we expect this year to be no different. In fact, the demand in the 2 months leading to the festive season is expected to be far more than last time (because people have learnt with time to adapt to a pandemic world). We expect high demand from across geographies and markets - metros, Tier 1, Tier 2, T3 cities and beyond. To cater to that, we have built the right ethnic wear, beauty, and home selection, and have partnered with brands on best deals. Hence, to leverage this demand and provide best value to our customers, we are organizing Big Fashion Festival and Myntra Diwali Sale to make this season a resounding success.” Right on the heels of the festive season, Myntra ramped up its marketing game by onboarding Hrithik Roshan, Vijay Deverakonda and Dulquer Salmaan as its newest brand ambassadors, alongside the existing celebrity ambassadors Kiara Advani, and Samantha Akkineni. Now, it is hoping to double its customer base and cater to Gen-Z shoppers with its high-decibel marketing. “With the optimism coming from recovery from Covid and revival in shopping sentiments along with the habitualisation of digital foray across all customer segments, we see a lot of new customers shopping during this festive season. We have also seen trends in Metro/T1 markets where Myntra has been traditionally strong, pointing towards such a revival. With a positive overall sentiment, we will be looking at doubling our customer base during this period. There will also be an added focus towards expanding our footprint in southern markets, deeper penetration into Tier 2 / 3 towns and exploring customer addition through emerging categories like Kids wear, Inner wear, fashion accessories, Beauty and persona care, etc. The greatest focus will be on Gen-Z cohort of shoppers,” shared Rajagopal. E-commerce platforms are also focusing on bringing more personalisation and curation to customers shopping online through greater tech and marketing integration. More and more e-retailers are exploring social commerce, turning their apps into super apps by bringing content, products and trends under one roof for consumers to watch and shop at once. D2C fashion platform Bewakoof.com that recently raised Rs 60 crore in an investment round led by InvestCorp, IvyCap and Spring Marketing Capital, is expecting to Rs 120 crore in brand sales this quarter. It recently rolled out celebrity-led digital campaigns with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar. It plans to further build its market presence by signing more A-list celebrities to its roster and launch a 360-degree campaign by October. On the technology side, the company intends to launch a gamification-led loyalty program as it upgrades its Bewakoof Tribe with new and exclusive launches for the club members. Sharing the platform’s festive plans further, Prabhkiran Singh, Founder CEO, Bewakoof.com said, “Post pandemic, we saw a strong recovery and growth in certain categories like casual wear and leisurewear because of customers staying at home and with the pandemic slowing down, we expect a strong recovery in categories like ethnic wear, bags, accessories, etc in the festive season ahead. We’re also looking to capitalise on winter wear more this year than usual with winter around the corner and have put in investments accordingly. We expect our brand sales to be Rs 120 crore for the festive quarter.” For Bewakoof, the northern and western markets see the highest demand, followed by West Bengal and Assam because of Durga Puja. Currently, over 6 million customers visit Bewakoof.com every month. Singh told us that the festive season serves as a crucial window in the year for new customer acquisition and bringing back customers that haven’t shopped again for a while. The platform is also planning on increasing its marketing spends this festive. “For this year, 15% of our total marketing budget will be spent for the upcoming festive season.” We’re in the process of rebranding Bewakoof in the next 1-2 months and we’ll have a new look, logo, tagline along with a new set of celebrities that will endorse Bewakoof so we’re excited to roll this out and create buzz around it along with backing it up with top-funnel marketing investments. We plan to go heavy on top-funnel marketing investments starting October,” said Singh. E-retail platform OLX has upped its UI to woo its customers, digitising the entire process of online retailing, including verification of all its premium items. OLX Autos launched a verified inventory of cars with a new interface, which provides a detailed history of the car right from the ownership period all the way up to the service history of the car, and access to a host of financing options and after-sales products like insurance and warranty. As a result, OLX has witnessed a surge in demand for pre-owned cars. Sapna Arora, CMO, OLX India said, “Green shoots are already visible in the used car retail segment. The demand for pre-owned cars has been 25% higher than the pre-Covid levels while there has been an 82% plus growth in demand for pre-owned smartphones. Our goods category has also witnessed a strong rebound, as demand and supply have gone up by an average of 68% and 25%, respectively, compared to pre-Covid levels. The upcoming festival season is important for us as we expect the gap to be narrowing down between pre and post-Covid levels. There has been a strong uptake of e-commerce across regions, especially in Tier 2 and Tier 3 cities, with consumers there making the greatest shift to online shopping. We will continue to focus on the pre-owned auto segment and are expecting to surpass the demand this festive season.” At an industry level, Arora told us that e-commerce players are leveraging on hyper-personalisation to create individualised experiences on the platform and AI-powered chatbots are being implemented by the online retailers to bring customers close to an offline retail experience with a high engagement rate. Sharing OLX’s plan, Arora added, “This festive season we plan to use innovative solutions via relevant messaging at different levels of the retail journey. Our consumer base is growing organically. During this year’s lockdown, a lot of people moved online and we saw growth, about 30% more daily active users (DAUs) from our previous pre-Covid peak. In the festive season, our huge inventories across segments will contribute to increasing the DAU’s on the platform.” As per Nielsen India’s E-commerce Consumer Panel (E-Analytics Solution), there was a double-digit increase in average spend of online shoppers for electronics and accessories (39%), mobile and accessories (12%), and fashion, including apparel, footwear, and accessories (10%) after the pandemic. Appliances (e.g.TV, WM, refrigerators, etc.) also saw notable shopper spending increase at 9%. E-commerce giant Amazon is also ramping up its product range for the festive season. “Together with thousands of small &amp; medium business and brand partners, we continue to offer our customers the widest selection, convenience, and fast delivery. We are humbled by how millions of Indian customers have made us a part of their daily lives. Also, customers continue to believe that online shopping is the safest way to shop which has been reflecting in all the recent events of Amazon like Prime Day 2021, Great Freedom Festival, Rakhi Store, Onam store and so on. This festive season is not a normal one for reasons we all know and our success metric would be focused on how we can make our sellers successful. Customers can look forward to shopping from a wide selection of products across categories like Home &amp; Kitchen, Fashion &amp; Beauty, Appliances and Smartphones, Grocery essentials and more from the comfort and safety of their homes," said an Amazon India spokesperson. This growth trajectory of e-commerce platforms in India testifies how customers are increasingly recognising the importance of comfort shopping within closed doors, and after seeing their businesses take a plunge in the first three months of the lockdown, more and more sellers are also coming online.

This festive season, e-commerce platforms are betting big on Tier II and III markets, which are likely to contribute $150 million to e-commerce growth this year

<ul><li>Digital payments in Southeast Asia will cross $1 trillion by 2025 according to the e-Conomy SEA 2019 report.</li><li>E-wallets will grow at a faster rate to hit $114 billion by 2025.</li><li>Digital remittances, lending, investments and insurance are expected to piggyback on the success of digital payments.</li></ul>Digital payments in Southeast Asia have reached their inflection point, and are set to cross $1 trillion mark by 2025. That means almost one in every $2 spent in the region is an online transaction according to Google, Tamasek and Bain &amp; Company's e-Conomy <a href="http://think.storage.googleapis.com/docs/e-Conomy_SEA_2019_report.pdf">SEA 2019 report</a>. "These technology-enabled business models are best positioned to give Southeast Asia's underbanked population access to financial services," it said. The report also estimates that e-wallets, a subset of digital payments, will grow even faster to reach $114 billion by 2025 — a five-fold increase over the current value of e-wallets at $22 billion. 
	
 <div type="image" title="googlesea_edited" msid="71575402" hostid="261" caption="&amp;lt;p&amp;gt;Growth trajectory of digital payments in Southeast Asia &amp;lt;/p&amp;gt;"></div>





 Other digital financial services like remittances, lending, investments and insurance are expected to grow at least two to three times their current value, in the next five years. "While new entrants and established players are competing and partnering to tackle this opportunity, supportive regulations will play a critical role," said the report. No monopoly in the fintech space Not only are digital financial services set to grow along with digital payments, they also involve a diverse set of players with no clear leader. Banks, remittance companies and insurance companies have the most experience in the area, but are struggling with the new-age digital services. They're also held back by legacy IT systems that have been in place for years, taking away agility. In comparison to the traditional players, challengers like e-commerce companies, telecos, social media platforms and ride hailing services are comfortable with the technology. But, their customer acquisition costs are higher as they penetrate new markets. Their ability to scale and stay financially sustainable is also yet to be proven. "Digital payments are rapidly spreading online and offline. But talent remains a pressing constraint despite all efforts by Internet economy companies to 'fill the gap'," noted the report. Improvement over last year Until last year, digital payments were a challenge in the Southeast Asian Internet economy. The lack of adoption was hindering the growth of other digital goods like gaming and music subscription services. Last year's e-Conomy SEA report stated that the digital payments ecosystem was largely fragmented, since the solutions weren't compatible with each other and merchants were reluctant to adopt the solution for both online and offline transactions. This year, not only are digital payments expected to grow but digital remittances, lending, investments and insurance are expected to piggyback on its success. See also: <a href="https://www.businessinsider.in/business/news/india-global-competitiveness-index-rank-fall-and-comparison-with-other-countries/articleshow/71574678.cms">India falls 10 places in Global Competitive Index as others race ahead in technology</a> <a href="https://www.businessinsider.in/india-is-as-prepared-as-us-or-australia-to-welcome-the-5g-era/articleshow/71499916.cms">India is as prepared as US or Australia to welcome 5G era</a> <a href="https://www.businessinsider.in/digital-india-mckinsey-report-analysis-of-indias-digital-economy/articleshow/68686474.cms">India is digitising but the pace is leaving many behind</a>

Old players and new challengers battle it out for Southeast Asia's $1 trillion digital payments market

<ul class="summary-list"><li>The pandemic e-commerce boom maxed out delivery capacity, leaving retailers hungry for alternatives.</li><li>UPS CEO <a href="https://www.businessinsider.com/ups-ceo-carol-tome-ecommerce-strategy-test-2021-7">Carol Tomé's "better, not bigger"</a> strategy is forcing shippers to look for new options.</li><li><keyword id="6362513" type="UNKNOWN" weightage="60" keywordseo="startups" source="Orion">Startups</keyword> are moving in to shake up the 50-year duopoly between UPS and FedEx.</li></ul>UPS and FedEx are losing market share. They have been every year since at least 2016, according to e-commerce company Pitney Bowes. To date that loss has largely gone to Amazon as the <keyword id="11896040" type="UNKNOWN" weightage="60" keywordseo="ecommerce" source="Orion">ecommerce</keyword> giant <a href="https://www.businessinsider.com/amazon-logistics-buildout-one-day-prime-shipping-2021-2">steadily moves delivery in-house. </a>But a slew of new players, juiced by millions in venture capital funding, is entering the <keyword id="12087688" type="UNKNOWN" weightage="60" keywordseo="package" source="Orion">package</keyword> <keyword id="11898399" type="UNKNOWN" weightage="60" keywordseo="logistics" source="Orion">logistics</keyword> fight to see if they can't can't change a decades-old power dynamic. It's more than just 32% e-commerce growth in 2020 that's driving new players into the space. FedEx and UPS have spent the last year or two taking a hard look at their own businesses. The resulting changes are upsetting the status quo.UPS CEO <a href="https://www.businessinsider.com/ups-ceo-carol-tome-ecommerce-strategy-test-2021-7">Carol Tomé's "better, not bigger" strategy</a> has led the company to leave some customers behind if their business wasn't profitable enough. FedEx too, cut capacity for some customers last year. <a href="https://www.businessinsider.com/fedex-on-time-performance-ups-ecommerce-growth-2021-9">FedEx says it's in growth mode now</a>, but its lagging on-time performance is yet another reason any company with packages to ship needs alternatives. Apart from the USPS, nobody matches the national reach of UPS and FedEx. Existing alternatives are largely regional players. So e-commerce logistics startups, many with Amazon alumni at the head, are looking at the problem in a different way. Instead of creating national networks of facilities, trucks, and drivers, they're using technology to stitch together the smaller logistics operations already in play. Some are making tools and launching services so retailers can more seamlessly use this patchwork of smaller carriers as a national solution. Some are reorganizing the vast number of crews of workers and fleets of vans that contract out delivery services to the traditional players in a new way. All are looking to offer flexibility and speed while attempting to build what e-commerce has yet to prove it can deliver for almost anyone: profit. Meet the new players in package delivery in these stories. <h2>From the gig economy to small delivery companies, delivery resources are reorganizing with speed as the top concern </h2><a href="https://www.businessinsider.com/gig-economy-delivery-doordash-shipt-threaten-ups-and-fedex-2021-4">The biggest threat to UPS and FedEx isn't Amazon. It's the gig economy.</a><a href="https://www.businessinsider.com/meal-kit-delivery-startup-axlehire-takes-on-ups-and-fedex-2021-4">A startup that cracked the code on ultrafast delivery just raised $20 million. Here's how its CEO plans to snatch market share from UPS and FedEx.</a><a href="https://www.businessinsider.com/amazon-delivery-partners-join-forces-launch-the-front-door-collective-2021-8">Over 100 Amazon delivery companies are banding together to form a new kind of challenger to UPS and FedEx</a><a href="https://www.businessinsider.com/gig-economy-fedex-xpo-fight-deliver-furniture-big-bulky-2021-4">As online furniture sales boom, gig delivery companies are minting money in the 'big and bulky' market many legacy players have avoided</a><h2>As UPS and FedEx alternatives launch and scale up, retailers need new tech and skills to manage the complexity</h2><a href="https://www.businessinsider.com/amazon-air-founder-scott-ruffin-startup-pandion-ups-fedex-2021-2">The founder of Amazon Air is launching a startup to liberate retailers from UPS and FedEx</a><a href="https://www.businessinsider.com/amazon-logistics-exec-raises-8-million-startup-help-the-competition-2021-6">An exec who spent 19 years building Amazon's supply chain just raised $8 million for a startup helping retailers match Prime's delivery speed</a><a href="https://www.businessinsider.com/pitch-deck-delivery-logistics-unicorn-bringg-2021-7">Here's the pitch deck that Salesforce-backed logistics unicorn Bringg used to raise its $100 million Series E round</a><h2>E-commerce logistics veterans are leading startups after seeing the problems from the inside </h2><a href="https://www.businessinsider.com/former-amazon-director-joins-new-delivery-company-owned-by-drivers-2021-8">Meet Penelope Register-Shaw, the secret weapon in a new challenger to UPS and FedEx</a><a href="https://www.businessinsider.com/amazon-logistics-alumni-chewy-walmart-nordstrom-supply-chains-2021-7">Meet 17 logistics execs who left Amazon to launch startups and lead competitors like Walmart, Target, and Chewy</a><a href="https://www.businessinsider.com/american-eagle-acquires-walmart-alums-logistics-startup-airterra-2021-8">American Eagle Outfitters has quietly acquired a nascent logistics startup helmed by a former Walmart e-commerce boss</a>

A wave of e-commerce logistics startups is threatening to break the UPS and FedEx duopoly

<ul><li>Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said <keyword id="3359665" type="COMPANY" weightage="20" keywordseo="RedSeer">RedSeer</keyword> at its flagship event Ground Zero 5.0.</li><li>As per the report, shared mobility saw a sharp decline due to the 2nd wave led lockdowns in the last two months.</li></ul>India’s consumer <keyword id="6354648" type="UNKNOWN" weightage="20" keywordseo="digital-economy">digital economy</keyword> which was pegged at USD $85-90 billion in CY 20, is expected to become a USD $800 billion market by 2030, according to reports released by homegrown consulting firm RedSeer at their flagship event Ground Zero 5.0. The digital economy includes 60% of travel, 40% of non grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30. The Ground Zero 5.0 event was attended by Amitabh Kant, CEO of Niti Ayog along with T.V Mohandas Pai, Chairman, Manipal Global Education Services and Sanjeev Bikhchandani, co-founder, Info Edge along with other stalwarts of the Startup Industry who participated in the day-long panel discussions on retail, mobility, logistics, digital ads, fintech and IPOs. Commenting on the overall digital ecosystem, <keyword id="80658" type="PERSON" weightage="20" keywordseo="Anil-Kumar">Anil Kumar</keyword>, founder and CEO of RedSeer, said, “Over the last one decade, entrepreneurs have dedicated themselves to solve for the specific needs and pain areas of Indian consumers. Today, 50% + customers say they use online services because of convenience. Few years back almost 70% + used to say the key reason is discounting but with the hit of Covid, digital services have undoubtedly served the customers very well, which is evident in high customer satisfaction and customers willingness to keep using the digital as a key channel to fulfill their needs. The next wave of entrepreneurs will create innovations which will make the Indian model successful globally.” India to become 3rd largest online retail market by CY30 Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said RedSeer at its flagship event Ground Zero 5.0, according to reports released by homegrown consulting firm RedSeer at their flagship event Ground Zero 5.0. According to the data released by RedSeer Consulting, 88% of the online shoppers that will be added between 2020-2030 will be from Tier 2+ cities. Further, $&gt;7 billion cumulative incremental online retail transactions to be added from Tier 2+ city customers over CY 20-30 while easily more than $~150 billion cumulative incremental online retail GMV to be added from Tier 2+ city customers over CY 20-30. The adoption factors that will drive the growth for the next few years are: <ul><li>Companies have started to focus on tier 2 cities</li><li>Growing online spends by 'Digital Natives' and supply-side innovations</li><li>COVID-19 has caused an inflection in e-commerce penetration across city tiers</li><li>Lowering costs of servicing tier-II and other smaller cities </li></ul>Additionally, kiranas are expected to achieve approximately achieve a $1.5 trillion sales by CY30. The growth will be driven by: <ul><li>Platforms that are enabling these kiranas technologically and digitally</li><li>Cashless payments</li><li>Book Keeping and EB2B offerings</li></ul>New-Age Logistics players created an opportunity of 500,000 employment for gig workers in 2020 E-Logistics in India has become the fastest growing market globally with over 3 billion shipments in 2020. India traditionally had an inefficient supply chain with a slow and undemocratic access. Today ~ 90%+ of the orders fulfilled by the online commerce get done by the <keyword id="11547673" type="UNKNOWN" weightage="20" keywordseo="new-age-logistics">new age logistics</keyword>, an industry which has come up only in the last one decade and has solved for the above challenges through technology and customer centric mindset. Further, three out of the top 10 logistics players in India are today the new age (e- logistics) players. The new age logistics players are expected to deliver 2.5 billion D2C shipments by 2030. With the rise of <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">eCommerce</keyword>, the need for specialized delivery service emerged, which led to the overall growth of the logistics segment. Emergence of this sector created 500,000 employment for gig workers in 2021 across captive and 3PL. The new-age 3PL logistics players have delivered 850 million shipments in 2020. New age logistics players have reduced the average time of delivery by 2/3rd in last 7 years, have covered nearly all the pincodes across India through enabled deep tech solutions to serve the different type of customer needs and requirements like same day delivery, hyperlocal, service enabled etc. E-logistics has been fulfilling the needs of the small city customers. Increasing coverage across India and faster delivery, enabled Tier-2+ cities to account for 50%+ shoppers to Indian eCommerce by the end of 2020. Other emerging trends Other sectors in the new-age economy have also been strongly impacted by the pandemic. A number of new trends are emerging in these various sectors which will shape the ecosystem going forward. Shared mobility dips but personal mobility soars in demand According to RedSeer research, shared mobility saw a sharp decline due to the 2nd wave led lockdowns in the last two months. Although the autos segment recovered the fastest, the overall sector merely clocked 18 million rides, a drop from 113 million rides in January last year. However, while the shared mobility is dipping, personal mobility space is riding on a wave of strong traction seen since last year. While auto OEMs have responded with relevant offerings to democratize access to cars, tech platforms are also accelerating focus on digitizing the car ownership journey. Online used car transaction penetration to grow ~9x in the next ~10 years. Another category that is ripe for digital disruption is the car service &amp; repairs market which is still a highly fragmented market which faces challenges like inefficiencies, bloated pricing and poor experience for both consumers and service workshops. This segment is expected to penetrate ~15% of this highly fragmented market by CY30. With rise in digital content, advertisements see higher demand On the other hand, online content is seeing phenomenal growth leading to the overall growth of the digital ad industry as well. Digital content is emerging as the bellwether of demand creation for time spent. India, one of the largest economies, is surging ahead on content and smartphone usage. Monthly active users (MAU) have become democratised with increasing adoption of varied digital services and platforms. Further, another example of democratization is seen in an increasingly largely base of active digital content users now coming from Tier 2+ cities with the top two categories being Facebook-owned WhatsApp followed by news aggregators.

India’s Digital Economy to touch $800 billion by 2030: RedSeer

Brex; Roli Saxena; Ruobing Su/Business InsiderMichael Tannenbaum, Larissa Rocha, and Roli Saxena are executives at financial services startup Brex.<ul class="summary-list"><li>Fintech unicorn Brex is one of the most interesting companies in Silicon Valley.</li><li>We identified the 13 employees that Brex assembled to help the financial services startup take on traditional financial institutions in 2020.</li><li>The power players include employees who helped launch its bank account product, Brex Cash, and people working with existing customers and recruiting new ones for the flagship corporate credit card product.</li><li><a href="https://www.businessinsider.com/prime">Click here to read more BI Prime stories.</a></li></ul><a href="https://brex.com/">Brex</a>, simply put, is a startup for startups.A venture-backed company can have millions in the bank and not get approved for a credit card. That's because the traditional financial institutions want to see a credit history, which few new companies have, before issuing that precious piece of plastic. Brex solved for the problem by <a href="https://www.businessinsider.com/brex-series-b-pitch-deck-fundraising-2018-8">giving corporate credit cards to startups</a> based on their available cash balance - including money raised through venture funding - and using data to predict a startup's future ability to pay.In the last year, Brex grew beyond its roots as a <a href="https://www.businessinsider.com/brex-credit-card-review">"black card for startups"</a> to include a <a href="https://www.businessinsider.com/brex-brex-cash-bank-account-for-startups-henrique-dubugras-2019-10">bank account product</a> that gives customers the ability to send payments, new credit cards with rewards tailored for e-commerce and healthcare businesses, a members-only lounge, and <a href="https://www.businessinsider.com/brex-opens-restaurant-in-san-francisco-2019-9">a restaurant.</a>Each new product brings Brex closer to the financial services leaders it wants to unseat. Henrique Dubugras, the company's 24-year-old cofounder and chief executive, <a href="https://www.businessinsider.com/brex-brex-cash-bank-account-for-startups-henrique-dubugras-2019-10">told Business Insider</a> that in the long run, the goal is not to become a bank - but to create an collection of products for saving and spending money, in the same way that Apple owns computing through its product suite.With a private market <a href="https://my.pitchbook.com/profile/226102-87/company/profile">valuation of $2.6 billion</a>, Brex has plans to <a href="https://www.bizjournals.com/sanfrancisco/news/2020/01/14/brex-looks-to-add-400-staff-but-mostly-not-at-its.html">double its staff</a> to 800 employees this year, adding to a powerhouse team of financial services veterans and tech giant alumni.This list of top employees is focused on staff who are helping the company take on legacy finance institutions, as opposed to the technical talent at the startup. They include the people tasked with raising funding, rolling out new products, keeping customers happy, and signing on rewards partners, as well as the people responsible for plastering San Francisco with Brex advertisements. Meet the 13 power players of Brex:

Meet the 13 power players of fintech unicorn Brex as it tries to unseat traditional banks and credit card companies in 2020

<ul><li>Snapdeal added 6 million new buyers on its platform during the pandemic.</li><li>Its recent 5-day sale kicked-off on October 16 and ended on October 20. </li><li>Rajnish Wahi, Senior Vice President, Snapdeal tells us some of the trends the platform saw during its pre-Diwali sale, its plan to go deeper into Bharat and USPs that helped it stand out in the clutter of online sales. </li></ul>Indian consumers have always been value-conscious, who take pride in their haggling skills and with the pandemic, buyers are expecting greater value for their spends. Therefore, e-commerce player Snapdeal’s sale, which took place between October 16 to 20, focused on offering ‘Kum Mein Dum Diwali,’ i.e., value deals for lesser money. According to Snapdeal, less than 5% percent of retail is online and during this on-going <keyword id="36208" type="PERSON" weightage="20" keywordseo="festive-season">festive season</keyword>, the platform’s aim is to bring more users online and give them strong reasons to switch. Snapdeal observed that consumers weren’t willing to buy premium brands this year and wanted to access the online platforms in their regional language. So, as other e-commerce platforms offered premium brands at a discounted price, Snapdeal wanted to make online shopping more inclusive for buyers across India. It focused more on non-metro cities, which is a market with potential 400 million users and shipped orders to rural places like Palasner in Maharashtra, Abdasa in Gujarat, Kalsi in Uttarakhand, Chitkul in Himachal among many others. Ahead of the sale, Snapdeal added 1300 new pin codes to go deeper into Bharat, areas which were previously unserviceable or where users were compelled to travel to nearby towns to collect their orders. It also updated its user interface by adding eight languages including Hindi, Tamil, Kannada, Telugu, Malayalam, Gujarati, Punjabi, and Marathi. As a result, 70% of its orders were received by sellers located beyond the top 5 metropolitan areas of the country and 90% of its orders were placed from non-metro cities. We caught up with Rajnish Wahi, Senior Vice President, Snapdeal to further understand some of trends that the platform saw during its sale. Excerpts: Q. The role of engagement and communication has never been more important, especially in today’s digital-first world. How are you making sure your communication during this year's sale is relevant to consumers? Snapdeal is sharply focused on catering to the value-conscious consumers, who see e-commerce as the connecting link between their aspirations, access and affordability. Our theme for this year’s festive sale - “Kum Mein Dum Diwali '' clearly communicates our core message - your shopping rupee has more value this year. As part of our sale preparations, we had conducted a survey of nearly 1.25 Lakh users and one of the key insights was user unwillingness to pay for brand premiums this year and instead focus on the functional value of their purchases. Based on these inputs, the festive assortment was expanded in a focused manner by on-boarding additional sellers for popular products like kitchen appliances, kitchenware, bed linen, apparel, footwear and fashion accessories like watches, wallets, etc. Shaping our sale offers around the clearly-stated expectations of our customers and conveying the same unambiguously through our festive promotions and digital marketing is the sum and substance of our festive communication. Q. This year is different. People have been observed to be judicious in spending. How has the consumer sentiment improved? While 2020 has been a volatile year, we see that there are many tailwinds that are propelling our business. The pandemic has resulted in redistribution of demand between offline and online channels, with online gaining share due to its inherent advantages of reach, convenience, large assortment and safety of buying from home. It has also accelerated the familiarity and acceptance of e-commerce amongst new buyers. With the pandemic, consumers have become more price conscious and are likely to opt for lesser-priced products, while not compromising on their quality expectations. Given all of this, we have seen two sets of buyers come on Snapdeal - one which is trading up to a better assortment and one that is trading down and opting for better functional value instead of big brands. In fact, we have added 6 million new buyers on our platform in the pandemic. We are witnessing the return of enthusiasm for festivities and it is also apparent that online channels will be a preferred medium for a larger number of buyers this year. But it will also be different this year, as more people will be price conscious and will look to spend on quality products that suit their price sensibilities. In a way, Snapdeal’s “Kum Me Dum” focus is about “offering more choices at price points better than last year”, especially for popular categories like home &amp; fashion, which has been made possible by year-long focus on expanding our value selection. Q. With the on-going festive season, many other platforms will have their Sales days too. How do you then cut the clutter and make sure you win consumers? How will you be different from the other players in the segment? Snapdeal is synonymous with value e-commerce. While others in the industry are now starting to build a value segment, we at Snapdeal have been focused on “only value” for the last three years. While other platforms are making efforts to sell branded items at discounted prices, these are still not affordable for a majority of the buyers in the country. On the other hand, we are focussed on bringing the depth and diversity of India's bazaars &amp; markets to the doorsteps of our users. On Snapdeal, buyers find endless varieties of regional and local brands that not only serve their needs, but also offer immense value at affordable prices. The result of our “Kum Mein Dum” Diwali sale bears testimony to this - more than 80% of Snapdeal’s Diwali shoppers chose to buy regional &amp; local brands on Snapdeal. The strong growth of lesser-known brands relative to national/international brands has been because of two key reasons: increased choice and a substantial price difference. Our value-focused positioning runs consistently through our selection and communication and is one the reasons why 90% of our orders flow from non-metros cities and towns across the country. Q. What are some of the other trends you are expecting to see this festive? Our first sales results are out and are reflective of how close the lives of users revolve around their homes. The sale in the home products category has grown by 30% over last year and has become the largest category on Snapdeal this year, overtaking the fashion category, which has traditionally been the top-performer at Snapdeal. The growth in the home category is propelled by popular products like kitchen appliances, kitchenware, bed &amp; bath,decor,cleaning equipment, lighting and comforters &amp; blankets etc. This growth in the fitness category reflects the extra time that people have on their hands and also underscores heightened awareness about personal health &amp; fitness. This category has grown by 45% over last year led by gym essentials like tummy trimmers, push-up bars, wrist supports, fitness gloves, hand grip strengtheners etc. Users buying sports equipment like badminton racquets &amp; cricket sets and weighing machines are also strong consumer trends. While the fashion category has also grown from previous years in terms of shipped units, the growth is less than other higher-performing categories. In the fashion category, there is an increased spending on kidswear in the festive season. . Among popular picks in Snapdeal’s Diwali sale are men’s &amp; women’s grooming products, nutritional supplements, religious items (prayer books, temples accessories etc). With the deterioration of air quality in North India, the sale of N95 masks, air-purifier filters, anti-pollution skincare items, skin moisturisers, lip balms has also increased. Snapdeal also witnessed an increase in gifting via e-commerce early in this festive season. The range of festivals starting with Karva Chauth and followed by Dhanteras, Diwali, Bhaiya Dooj and Chhath Puja have become important gifting occasions for users in various parts of the country. While in the previous years, shoppers used e-commerce channels to buy and ship to families &amp; friends in other cities, this year many shoppers in metro cities are also sending gifts to people living in the same cities. This year gift cards have also been hugely popular among people to send to their friends and family, with a 3X surge in orders as compared to the festive sale last year. These included gift cards of travel, entertainment, food and retail brands which were upto 30% off. Q. How are you working towards improving the overall consumer experience? E-Commerce in India has grown beyond the first 100 Mn largely urban, English-speaking users. A market of potentially 400 Mn users is now emerging across India’s smaller non-metro cities. This is a very diverse cohort in terms of languages spoken, literacy levels, frequency of online purchases and familiarity with technology. A large part of Snapdeal’s existing user base and new users come from this cohort and all our focus and efforts are on building the right experience that our users want. That means we work tirelessly to give them a wide array of products to choose from, and at just the right prices they are looking to spend. We also make it easy in many other ways for users to buy on Snapdeal. This includes providing interfaces on our app &amp; m-site in eight Indian languages, so that they can browse through products &amp; transact in a language of their choice. We also enable conversation with our customer service agents in multiple Indian languages. Transaction and promotional messages all are available in many Indian languages. Some other ways, in which we support our users to buy is by helping them make well-informed choices through short 10-second product videos which are far more captivating and help buyers to make decisions faster than static pictures of the products concerned, easy 7-days return, no questions asked refunds policy. We are the only platform that provides uninterrupted access to cash-on-delivery option even during the turbulent early days of pandemic lockdowns. Q. Which are your strongest markets currently? How are you planning to strengthen your presence in other markets? We have a strong pan India presence. During the current sale and consistent with Snapdeal’s positioning, more than 90% of Snapdeal’s orders were placed from non-metro cities. Populous cities like Nagpur, Vijayawada, Surat, Bhopal, Chandigarh, Visakhapatnam, Ranchi, Patna, Guwahati and others continued to drive orders on Snapdeal, but smaller cities like Sagar (Madhya Pradesh), Raniganj &amp; Durgapur (West Bengal), Patiala &amp; Gurdaspur (Punjab), Anand, Bharuch, Una, (Gujarat), Miryalaguda (Andhra Pradesh) and Bhimavaram (Telangana) also clock impressive order volumes. With our recent network expansion, Snapdeal has also shipped orders to rural places like Palasner in Maharashtra, Abdasa in Gujarat, Kalsi in Uttarakhand, Chitkul in Himachal amidst many others. Q. What are your current MAUs? More than 70 million users visit Snapdeal every month to browse and buy from our vast catalogue of 220 million plus listings. Q. What kind of target have you set for this year's sale? Do you anticipate people to buy more, considering a lot of people might have pushed buying things for the festive season? What kind of numbers do you aim to reach this year? Less than five percent of retail is online, which is an incredibly small penetration number. In our view, Diwali or not, our job to bring more buying options for our users doesn’t change. Diwali does serve as a milestone to accelerate some of our related initiatives or build virtual infrastructure to connect the dots between demand and supply in our country. This year, ahead of the festive season, we on-boarded additional sellers of popular products like kitchen appliances, kitchenware, bed linen, apparel, footwear and fashion accessories like watches, wallets, etc., as indicated by our users in a survey. In the run-up to Diwali, Snapdeal also on-boarded 5000 manufacturer-sellers who sell products like water purifiers, choppers &amp; blenders, steel &amp; copper utensils, crockery items, bedsheets, quilts, geysers, etc directly from their manufacturing units. This year, we knew more and more people would be buying online and ahead of the sale, and expanded our network to add 1300 new pin codes to go deeper into areas which were previously unserviceable or where users were compelled to travel to nearby towns to collect their orders, reaching out to 50 million additional users. Today, we are India's leading value-focused marketplace with more than 500,000 registered sellers and we cover 27000 + pin code areas across the length and breadth of the country.

Why Snapdeal targeted non-metro cities and rural India during its pre-Diwali sale

<ul><li>E-commerce currently contributes 2% to the FMCG market.</li><li>Metros lead the <keyword id="8408593" type="UNKNOWN" weightage="20" keywordseo="e-commerce-fmcg">e-commerce FMCG</keyword> race with a 6% contribution from the channel to total FMCG sales. </li><li>Foods is the biggest contributor with 44%, then it is personal care (40%) and household care (13%). </li></ul><keyword id="6456080" type="ORGANIZATION" weightage="20" keywordseo="nielsen">Nielsen</keyword> India expects the Fast Moving Consumer Goods sales coming from the e-commerce channel to grow to $4 billion by 2022. The channel contributes 2% to the current FMCG market. These are insights were a part of Nielsen’s recently launched <keyword id="8408596" type="UNKNOWN" weightage="20" keywordseo="e-trak-index">E-Trak Index</keyword> - a measurement solution that tracks the FMCG e-commerce industry. The solution is created using aggregated ePOS (electronic point of sale) data from co-operating e-commerce players and data science backed estimation for non-cooperating e-commerce players in India. The index adds a crucial element to the Retail Measurement Services that Nielsen provides by adding a view of the FMCG E-commerce space for All India Metros currently - with monthly read for Total FMCG, Super-categories, Category level for about 20 categories and for 11 categories at a top manufacturer level. Manufacturers and marketers get data, information and insights that can be further used to hone their e-commerce channel sales strategy to help shape a smarter market. Metros lead the e-commerce FMCG race with a 6% contribution from the channel to total FMCG sales. Amongst these, Foods is the biggest contributor with 44%, followed by personal care (40%) and household care (13%). Narrowing in on the value contribution of e-commerce to Metro sales categories with the channel, diapers contribute 26% to the sales; followed by skin creams (12%) and shampoo (10%). <keyword id="3017476" type="PERSON" weightage="20" keywordseo="Prasun-Basu">Prasun Basu</keyword>, South Asia Zone President, Nielsen Global Connect, said, “Measurement is necessary. Measurement is difficult. Best possible measurement.” Explaining it further, Basu adds, “Data and insights from Nielsen’s Retail Measurement Services continue to provide an essential foundation for manufacturers and marketers to understand their market. In this rapidly evolving world of commerce, India’s FMCG industry is now making its presence felt in the E-Comm channel - appealing to consumers’ need for convenience, and in sync with increasing smartphone and internet penetration. To give a truly complete picture of the changing marketplace, we are happy to announce that Nielsen India has launched a specific E-Trak index that will now measure FMCG consumer offtake in the E-Comm space - marrying this with trends seen in modern and traditional trade to get a read on omnichannel in the country.” <keyword id="8408595" type="UNKNOWN" weightage="20" keywordseo="Sharang-Pant">Sharang Pant</keyword>, Head-Retail Measurement Services and Retailer Vertical, South Asia, Nielsen Global Connect said, “While the foundation is taking shape, E-comm’s dynamic nature has made it a disruptor in the marketplace. E-Comm has seen a transformative journey and is now a $1.2Bn Industry growing from 0.5% contribution in 2016 to a 2% contribution in 2019, and slated to be 5% in 2022 - this is in half the time that brick and mortar retail took to evolve. That said, these channels are not cannibalizing each other, and all continue to grow with E-Comm outpacing modern trade and traditional trade. The view that Nielsen presents on understanding channel, category and consumer trends will directly help players understand the right strategy in terms of assortment, pricing and positioning to win with the evolving consumer.” <keyword id="8408594" type="UNKNOWN" weightage="20" keywordseo="Nitya-Bhalla">Nitya Bhalla</keyword>, Head- Data Science, South Asia, Nielsen Global Connect, said, “Given the significance of the channel from both a current as well as future perspective, Nielsen has built a unique state of the art hybrid model for estimating this dynamic and growing channel. The methodology involves leveraging data from key collaborating E-tailers in the FMCG space. We then use crowd sourced data coupled with machine learning techniques from a panel of 200K+ consumers to estimate the Ecommerce sales for FMCG products.”

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