StoreKing to help Xiaomi India expand to hinterland

Oct 18, 2016 0

Bengaluru– Rural retail commerce provider StoreKing on Tuesday announced its partnership with smartphone manufacturer Xiaomi India to help increase their offline presence in the country’s rural areas.

“With Mi India on-board, we aim to serve rural consumers better regardless of their location and give them access to the best of products,” StoreKing Founder and CEO Sridhar Gundaiah said in a statement.

StoreKing’s business model focuses on partnering with retailers in small towns and provides a wide range of products and digital services to the users.

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French luxury furniture brand opens store in New Delhi

Oct 13, 2016 0

New Delhi–Even as the Swedish firm Ikea’s stores are being awaited by customers, a French luxury furniture brand has opened its doors here.

Brand Roche Bobois has set up its store in a mall on Mehrauli-Gurgaon Road.

“We established a top-end positioning in Mumbai, then in Bangalore and now that continues with the launch of our flagship store in New Delhi,” Martin Gleize, International Director of Roche Bobois Group Paris, said in a statement.

The brand is offering two collections — contemporary and classic, which the company says reflect European craftsmanship.

“Roche Bobois is the leader in the design-driven category of sophisticated furniture and accessories from France and offers an selection of products designed by some of the most talented designers from Europe,” said Samvit Tara, Managing Director of Roche Bobois India. (IANS)

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M-commerce set to shine bright this Diwali in India

Oct 12, 2016 0

New Delhi–With rapid increase in mobile data consumption, mobile commerce (m-commerce) is set to overtake web browsers in driving sales soon, according to a seasonal data in anticipation of Diwali, released on Wednesday.

The data gathered by Criteo, the performance marketing technology company, showed that during the festive season last year, “40 per cent of the online traffic on major retail companies was generated by mobile phones”.

Clearly, m-commerce is experiencing a tremendous rise in India.

“Customers prefer buying new brands from upcoming shopping websites, where they are offered best prices as well as discounts. With the ease of m-commerce, they get the option to explore thousands of brands at the click of a button,” a Criteo statement said.

The in-app availability of e-commerce companies has further triggered the rise of m-commerce in India, according to the company.

With the growing popularity of e-commerce companies in India, the festive season presents with an opportunity for a fierce competition among key Indian retailers.

Various e-commerce platforms launch mega-sales before the festive period, thereby launching a brand war with high budget spending on advertising as well as sales offers on consumer durable products and services.

Based on consumers’ online browsing and buying activity during the peak season last year (October 8-November 8), the pre-Diwali period saw an upsurge in average visitors on key Indian retailers’ websites, leading to an increase in average sales of e-commerce companies.

According to Criteo’s findings, which are based on an analysis of six million online transactions made in India last year, the rise in average online traffic on key retail companies’ websites reached up to 35 per cent. Also, during the same period, the maximum sale on these websites went up to 87 per cent.

“The technology-savvy users today want to explore new brands and choose from the variety of product categories, services and e-commerce platforms. With easy return policies, various payment options, cash on delivery and quick delivery services, it is expected that online shoppers in India may reach 175 million by 2020,” said company’s Commercial Director, Dushyant Sapre.

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Fossil Group enters ‘connected’ wearable segment in India

Oct 5, 2016 0

New Delhi– Global luxury accessories maker Fossil Group on Wednesday entered the wearable segment in India by unveiling a range of connected devices that include smart watches, hybrid watches and fitness trackers.

The wearable devices span across six of Fossil Group’s licensed brands — Fossil Q, Michael Kors Connected, Skagen Connected, Chaps, Emporio Armani and Misfit.

“Indians are very passionate about technology and are quick to adopt the latest. We believe the country will continue to be a key market for us,” Sonny Vu, President and CTO, Connected Devices, Fossil Group, told reporters here.

Fossil Group\'s Skagen debuts with Skagen Connected, a wearable technology line. (Photo: IANS)

Fossil Group\’s Skagen debuts with Skagen Connected, a wearable technology line. (Photo: IANS)

Fossil’s Q Wander smartwatch features a soft curving, multi-finish case and comes with interchangeable genuine leather strap.

Q Marshal features a rugged case along with a navy blue plated case paired with vintage-inspired leather straps.

Both Q Wander and Q Marshal feature Always On Display, allowing users to access important information like time, calls and alerts anytime.

Users can also respond to messages from the watch by tapping the screen or by using voice commands.

The collection is priced between Rs 21,995-Rs 22,595.

Michael Kors enters the connected world through “Michael Kors Access,” featuring designs based on the Bradshaw and Dylan styles, and comes with customisable display and functionality to keep users equipped with features like connectivity, activity tracking, voice activation, customisable display faces and wireless charging.

Bradshaw Access and Dylan Access are available in the price range of Rs 25,995 to Rs 29,495.

Skagen debuts with Skagen Connected, a wearable technology line. The initial collection will include the Hagen Connected hybrid smartwatches and a Skagen Connected activity tracker.

The collection is priced between Rs 14,295 to Rs 15,495.

The Chaps connected hybrid smart watch is for customers who want all the functionality of a world-class tracker with notifications hidden in a traditional watch.

The smart watch is available to customers from Rs 9,995 to Rs 10,495.

Emporio Armani Connected hybrid smartwatches are priced between Rs 17,495 and Rs 27,995.

MisFit expands its portfolio with Misfit Shine 2 and Misfit Ray.

Priced at Rs 7,495 onwards, Misfit Shine 2 and Misfit Ray feature a modular design and lets users track their fitness goals.(IANS)

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Consumer goods market in India to reach $104 billion by 2020

Oct 5, 2016 0

New Delhi– India’s market for fast moving consumer goods (FMCG) is expected to more than double to $104 billion by 2020 from the present level of $49 billion, a research report said on Wednesday.

According to the Assocham-TechSci Research report, steady economic growth, rising share of organised retail, improving awareness, and a favourable demographic dividend will give a boost to the industry’s growth.

The sector is expected to grow at a compounded annual growth rate (CAGR) of 20.6 per cent, the report said.

“It is certainly good news for giving a much-needed consumption boost to the economy,” said Assocham Secretary General D.S. Rawat.

The study titled “Indian FMCG Market 2020” elaborated that measures such as Goods and Services Tax Bill, Food Security Bill and increased limit of foreign direct investment will have a positive impact on the FMCG industry.

Currently, FMCG is the fourth largest sector in the Indian economy and provides employment to around three million people accounting for approximately five per cent of the total factory employment in the country.

However, India only accounts for a share of just 0.68 per cent of the global FMCG market.

Nevertheless, globally FMCG sector is expected to grow at CAGR of 4.4 per cent, which when compared to India is a lot slower.

“Many foreign FMCG multinationals have established themselves in India,” the report said.

“Globally, the FMCG companies have now shifted their focus on e-commerce due to the increasing mobile internet penetration.”

However, the share of online sales of FMCG products globally accounted for around five per cent in 2015, which is relatively higher than India where online FMCG sales accounted for a share of just 1-2 per cent of the overall FMCG market in 2015, the report said. (IANS)

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Liquor shops doubled in Odisha in 15 years

Sep 28, 2016 0

Bhubaneswar–Even as various social organisations in Odisha call for total prohibition in the state, the number of liquor shops has doubled in the past 15 years, a minister said on Wednesday.

The number of liquor shops has risen from 1,798 in 2001 to 3,843 in 2015, Excise minister Damodar Rout informed the state assembly.

The ruling Biju Janata Dal (BJD) come to power in 2000 and has been in office since last 16 years.

While the number of shops selling Indian Made Foreign Liquor (IMFL) was 753 in 2001, it has increased to 1,480 in 2015, said the minister.

He admitted that it has come to the notice of the government about the anti-liquor agitation in the state and vandalism of liquor vends by some women protesting against the sale.

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Beauty brand KIKO opens flagship store in India

Sep 17, 2016 0

Noida–Italian beauty brand KIKO MILANO has opened its first store here.

The beauty brand store, that will open its doors for customers on Saturday, is located on the ground floor in the DLF Mall of India here.

“The opening of our first store in India marks an exciting moment and an important milestone for KIKO MILANO as it embarks on its journey in the Asian subcontinent,” Mark Koprowski, International Director, Percassi Group, said in a statement.

“In the past decade, India has emerged as one of the fastest-growing beauty markets in the world where consumers are constantly looking out for products to pamper themselves,” the statement read.

With over 850 stores in 17 countries and an online presence in 35 nations, the beauty brand offers a range of more than 1,400 products, including make-up, beauty accessories and skincare products. (IANS)

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US-based Harman opens first center for lifestyle products in India

Sep 16, 2016 0

Bengaluru–US-based Harman International Industries, a connected technologies company for automotive, consumer and enterprise markets, on Friday announced the opening of its first Centre of Competence(CoC) for its lifestyle audio division here.

The new CoC, led by Srinidhi Kadagattur, will focus on developing robust and scalable software solutions for the company’s consumer and car audio business.

“India is a powerhouse of innovation and home to Harman’s largest pool of software engineers and architects and our teams here are focused on developing solutions that leverage cloud, data, app design and analytics to advance the connected lifestyle,” said Armin Prommersberger, Senior Vice President, Harman Lifestyle Audio Division, in a statement.

The company already has Indian R&D centres for their other three business units — connected cars, professional audio and connected services.

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Amazon to be No. 2 in Indian e-commerce market by 2019

Sep 15, 2016 0

New Delhi– Amazon is improving its foothold in India and the American e-commerce giant could be the second biggest player after Flipkart in the online retail market by 2019, says a new Bank of America Merrill Lynch report.

India could also become Amazon’s second largest market (after the US) as it plans to invest $5 billion in its India business, the report released on Tuesday said.

“For last couple of months, Amazon India gross sales are higher than that of Flipkart standalone (excluding Myntra),” it added.

“We now expect Amazon’s GMV (gross merchandise value) market share to improve to 37 per cent by 2019 from 21 per cent in 2015 and expect it to be close No 2 behind Flipkart,” the report said.

While revenues are relatively small to Amazon’s global scale, Amazon India could generate $81 billion in GMV and $2.2bn in operating profit by 2025.

Most of Amazon’s gains have come at the expense of Snapdeal and other sellers, not Flipkart, according to the report.

Flipkart still remains the market leader in India and “even in terms of customer satisfaction, reports indicate that it remains the leader, ahead of both Amazon and Snapdeal”, according to the report.

Amazon has been able to benefit from global brand and establishing reliability of service among consumers, concentrating on offering superior customer service and wider assortment of products.

Amazon has also tied up with Vakrangee, a franchisee with strong presence in rural/underdeveloped areas to fortify its rural presence at relatively lower investments.

As of June this year, Amazon is already active in more than 1,000 outlets, with plans to increase to 75,000 outlets by 2020, the report noted.

Alibaba is looking to enter into the Indian e-commerce market by early next year as a more direct entry, despite it having investments in PayTM/Snapdeal.

“We note that similar to Amazon, Alibaba likely considers India as the next big market apart from its home market and is looking to gain traction there,” the report said. (IANS)

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More young Indians shop online for overseas products

Aug 24, 2016 0

Bengaluru–More young Indians in 18-34 age group are shopping online for cross-border products like apparel and consumer electronics owing to their higher quality despite payment barriers, a report said on Wednesday.

“Our research showed that more (59 per cent) of millennials (young) choose cross-border products like apparel and consumer electronics for their higher quality,” a joint study by global online payment gateway PayPal and leading market research firm Ipsos noted.

The ‘PayPal Cross Border 2015 Millennial’ report is based on a survey of online and cross-border shopping habits of 23,000 internet users in 29 countries, including 517 millennials in India.

Around 85 per cent of millennials prefer global online stores like Amazon for shopping online for cross-border products.

“Nearly 79 per cent of Indian millennials shop for event tickets online,” the report said.

The US continues to be the most preferred nation for cross-border shopping followed by China, Britain and Singapore.

Making online payments has emerged as one of the key aspects of cross-border purchases though young shoppers thriving on options prefer paying in currency of their choice.

“Cross-border shopping is hindered by high delivery shipping costs, difficult return process, unclear duty and tax structures, long delivery times, unfavourable conversion rates and payment option only in foreign currencies,” the report highlighted.

About 60 per cent of millennials, however, are not comfortable with purchasing on websites that are not in their language and 82 per cent of them prefer paying in local or their own currency.

Mapping the evolution of online cross-border commerce among young Indians, the report identifies factors that drive them to buy across the border, barriers they face and their approach to making overseas payments online.

In light of the findings and its focus on the millennial segment, PayPal will soon roll out promotions and programmes for the millennials to experience how new money means no boundaries.

“As we are focussed on enabling digital payments in a safe and secure environment, our ‘New Money’ facility caters to the millennials, encouraging them to switch over to the new option,” said Anupam Pahuja, Country Manager and Managing Director, PayPal India, on the report.

The New Money caters to consumers as well as merchants while ‘PayPal.me’ is a personalised option for merchants to receive cross-border payments.

“A safer payment option takes priority over other factors, including discounts, which makes us a preferred payment option in view of our focus on risk and security,” added Pahuja.

With 184-million active customer accounts worldwide, the US-based PayPal Holdings Inc., operates in 200 countries, enabling payments in over 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in PayPal accounts in 26 currencies.

In 2015, 28 per cent of the 4.9-billion payments processed were made on a mobile device. (IANS)

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