Competition and Industry News
Flipkart revamps MSME seller financing programme, promises disbursals in 48 hoursedit
In a drive to empower MSMEs across the country, Indian e-commerce marketplace Flipkart has revamped its seller financing program, ‘Growth Capital’, the company said in a statement. The program is designed specifically to enable financial inclusion and independence for MSMEs who operate online, the company said. Changes made last month will allow the platform’s 1 lakh-plus sellers to avail credit at competitive interest rates from 10 NBFCs and banks, now with an approval time of one day and with disbursal into the sellers’ bank accounts occurring within 48 hours.
Publication: YourStory
Date: June 20, 2019
E-commerceFlipkartCannes Lions 2019: Josy Paul of BBDO India, pens down some of the best work showcased at this year’s Festival of Creativityedit
From Burger King to Gazeta.pl, The New York Times, among others are some of the brands which have created a deep impact with their campaigns. ThisAbles by Ikea: This is about the furniture retailer making home furniture accessible for people with disabilities. Ikea developed 13 add-ons to its most essential products, offering them free to download and 3D print on a designated website alongside a full web series of video tutorials.
Publication: ET Brand Equity
Date: June 21, 2019
Cannes Lions 2019IKEAAmazon India opens sort centre near Gannavaramedit
Amazon India Director Abhinav Singh on Thursday announced the launch of a Sort Centre at Surampalli in Gannavaram mandal of Krishna district. It is a 25,000 square feet facility where the customer packages would be processed and despatched. Similar centres had been recently opened in Goa, Ranchi and Siliguri, he said. Addressing a press conference here, Mr. Singh said the Sort Centre enabled faster delivery of customer orders in the Andhra Pradesh (A.P.) capital region and its neighbourhood where demand had been growing rapidly, and it was in addition to a fulfilment centre with a 20,000 cubic feet storage space established in the city a few years ago.
Publication: The Hindu
Date: June 20, 2019
AmazonPepperfry expects its mattress segment to garner Rs 500 cr revenue by 2021edit
Pepperfry has started launching offline store to showcase products and claims to have seen traction from customers. Pepperfry is expecting its mattress segment Clouddio to contribute around Rs 500 crore in its more than Rs 7,000 crore revenue target by 2021. The online home furnishing firm estimates that its home brand in total will fetch a revenue of around Rs 3,000 crore to the total business by end of next financial year.
Publication: Indian Retailer
Date: June 20, 2019
Pepperfry