The week that was in E-commerce- Dec 29
As the current year is about to end both for you and me, and for e-commerce we have constantly been dedicated to update you with latest happenings in e-commerce world through this section. There have been crazy valuations, acquisitions, mergers and some shut downs. But overall e-commerce has only increased in size despite fierce opposition from offline retailers across the country and adverse government policies. While we bid adieus to this year we shall continue with keeping tight vigilance on e-commerce world and updating you about the major news and scoops. Meanwhile check out the last e-commerce report of this year.
- Upcoming sale season will be the hardest one for offline apparel retailers
Offline apparel retailers who are constantly being threatened by the cutthroat pricing strategy of e-tailers such as Jabong, Myntra, Zovi, are going to face their toughest challenge so far, in the upcoming sale season. The two months long sale season which begins in January every year accounts for nearly 1/3rd of the total sale for offline retailers. This year e-tailers are pumping big amount in promotions and advertising across television and print media, which has raised a serious concern for offline e-tailers. Although nobody holding authority in offline retail has officially acknowledged the threat posed by these e-tailers, check out this report my mint to know how they are trying to tackle the challenge.
- $100 dollar is next milestone for Indian e-commerce industry
According to a latest study by ASSOCHAM- the apex trade association of India, the valuation of Indian e-commerce industry is going to reach whooping $100 dollars by 2019. The study was conducted jointly by ASSOCHAM and consulting firm- Pricewaterhouse Coopers. It stated that currently valued at $17 billion, the industry is going to witness Compounded Annual Growth Rate(CAGR) of 35% which will hike its value to $100 billion. Read the full story on Business Insider.
- RBI determined to set the payments policies straight
In a latest television interview, governor of RBI- Raghuram Rajan reiterated that RBI is working towards ‘setting a legal framework for the use of advanced e-commerce technologies’, in the wake of irregularities in online transactions. Further, he also warned the existing companies not to violate rules taking lack of policies as an excuse. He was referring to the controversial taxi aggregator Uber which was using foreign payment gateway to conduct transactions in India, in violation of rules. Read this latest report on Reuters.
- Modi’s ambitious ‘Digital India’ initiative got push of Microsoft
India-born Satya Nadella who is on his second visit to India, after taking over the mantle of Microsoft, met with PM Modi, FM Arun Jaitley and telecom minister Ravi Shankar Prasad. In the statement later released by the communication and IT ministry, it was stated that Nadella has pledged support to ‘Digital India’ initiative and would work towards boosting the digital infrastructure of India.
- 2014 clocked retail industry being shaken up by e-commerce
Although contributing sales of only INR 1 trillion to the India’s INR 38 trillion retail industry, e-commerce impacted the retail landscape of India like never before. With cut-throat pricing strategy, acquisitions, eye popping valuations, e-commerce dwarfed conventional retail industry in several aspects, although being just few years old. Read the full article here.
- Annual spending on online shopping is going to reach 10,000 in 2015- Assocham
According to another study jointly conducted by Assocham and PwC, the annual spending of online shoppers is going to increase by 67% next year. Currently an average online shopper spends around ₹
6000 annually on online shopping and if the study is to be believed then this spending figure would catapult to ₹10000 in 2015. Check out this article in Deccan Chronicles to know what factors would contribute to this steep rise.
- Amazon asked by govt not to lobby individually for FDI
US based online retail giant Amazon which has constantly been lobbying for FDI in B2C retail, since its entry in India, was asked by government to back its demand by some industry association of US. The statement has come after the government was mounted with immense pressure by various quarters to allow FDI in B2C retailing. Check out the full report here.
- With e-commerce boom deliveryman job has emerged as the hottest profession
As the e-commerce in India is growing by leaps and bounds the profession of deliveryman has become the hottest job segment. As the job doesn’t require any professional expertise except some minimum education and riding skills, the job of deliveryman is finding enough takers from unemployed youth class. But although deliverymen have been instrumental in fueling e-commerce in the country their importance was widely ignored. Recently google celebrated these ‘unsung heroes’ of e-commerce with a video dedicated to deliverymen.
That’s all in the weekly report today. This marks the last “The Week that was in E-commerce” report of this year. Do let us know if we missed anything or could make this section any better. Your feedbacks and suggestions through email and comments is what that keeps us going.
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