Not too long ago, the world had its eyes on China as one of the fastest growing countries in the globe. Now its economy has been slowing down, and the future doesn’t look quite as bright any more. One of the bright spots in China’s economy was its e-commerce sector, where players like Alibaba were breaking new ground with their humungous sales figures. A new report, however, takes the sheen off these numbers.
The mega sales have ended. The partying is also over. E-commerce majors such as Flipkart, Amazon and Snapdeal are now in for some sobering news.
Government of India has asked Reserve Bank of India (RBI) and Enforcement Directorate (ED) to probe whether e-commerce majors have violated Foreign Direct Investment (FDI) rules by engaging in business-to-consumers (B2C) activity.
With several online customers facing such bad experiences in terms of pricing discrepancies, non-availability of desired products, or even receiving sub-standard or fake products, online marketers are now pulling up their socks to ensure customer satisfaction on one hand, and prevent fraud on the other. And one of the approaches taken by many ecommerce platforms, including biggies Flipkart and Amazon is introduction of the Mystery Shopper.
All’s not well at Zomato. Weeks after the company had announced that it was laying off 10% of its workforce in an apparent restructuring, it has emerged that for the first time in 5 years, the company is falling short of its sales targets. And Deepinder Goyal, the 32 year CEO, is not pleased.
After the big success of its 5 day sale- The Big Billion Days- the company threw a big bash celebrating and also its 8th anniversary which happened to this month.
Jabong, whose CEO and MD had quit in September, has finally found a replacement. The company has appointed Sanjeev Mohanty as CEO and Managing Director effective early December 2015. Mohanty has previously had leadership experience at Benetton India, Madura Garments and Levi Strauss. He has a degree in Apparel Marketing & Merchandising from National Institute of Fashion Technology. Commenting on the appointment Romain Voog, CEO of Global Fashion Group (GFG), the parent company of Jabong, said, “We…
The Telengana government had launched India’s largest entrepreneur hub – T-Hub in August of this year. The inauguration had taken place among much fanfare, with Ratan Tata being the chief guest and grand promises being made. But given the usual pace of government projects in India, expectations had been muted. But the Telangana government has delivered, and how.
FreeCharge, which was acquired by Snapdeal this May in India’s largest tech deal, is in talks with existing and new investors to raise $300 million. This will be Snapdeal’s first fund raise that’s earmarked for a separate entity.
It’s the old guard versus the new. Wary of the traction being generated by new-age hotel booking sites like Oyo Rooms and Zo Rooms, incumbents MakeMyTrip, GoIbibo and Yatra have collectively removed listings from these properties from their sites.
Bad PR seems to yet again plague the food startup. Now, law students Pranav Jain and Aroon Menon from Delhi have moved to court accusing Foodpanda of miscalculating the VAT charges on bills, subsequently misappropriating their total taxes and charges due to the govenrment, and also cheating customers in the process.