Swedish retailer IKEA, known for its ready-to-assemble furniture, it is going to lease space in a shopping mall in Mumbai to open a store, the Economic Times reported on Monday. This is the first time IKEA will be opening such a store – in a leased space in a shopping mall. Also, this is going to be a smaller store, unlike the standard IKEA stores across the globe. Typically, the size of an IKEA store is as big as five football grounds put together, or more than 300,000 square feet. Its only store in India is spread over 400,000 square feet in Hyderabad.

Publication : Moneycontrol

Date : August 27, 2019

On 23 August 2019, finance minister Nirmala Sitharaman, while announcing the non-applicability of Section 56(2)(viib) of the Income Tax (I-T) Act, 1961, popularly referred to as “angel tax” on startups registered with department for promotion of industry and internal trade (DPIIT), reassured entrepreneurs that the government was already sensitized to the importance of the startup ecosystem and was taking all possible steps to boost confidence of investors and other players in the startup sector. Recently, the I-T department’s sudden move to deduct a substantial amount from the accounts of two startups, Babygogo and Travelkhana.

Publication : Mint

Date : August 27, 2019

As every other millennial, getting out of my house to buy things would be blasphemy, so I turned to the holy shrine- the world wide web. Here are the options I gathered from IKEA, Pepperfry and Urban Ladder. Bed: While I would go for the Pepperfry option, however without the on sale price Urban Ladder would be the better option. However if you would rather go for a metal bed frame there were some pretty inexpensive options. Mattresses are a tough one to decide without checking them out personally, but IKEA gave some pretty good options under Rs 4,000/-.

Publication : Business Insider India

Date : August 27, 2019

E-commerce is growing at an unprecedented rate all over the globe. In 2018, global online retail sales amounted to 2.8 trillion U.S. dollars and projections show a growth of up to 4.8 trillion U.S. dollars by 2021. The e-commerce industry is escalating at a rapid pace, and it is up to e-commerce business owners to take advantage of this growth. If you’re looking for ways to grow your e-commerce business, here are 5 essential ways to increase your e-commerce revenue. 1. Repeat customers matter: Online retailers tend to pour most of their resources on strategies that bring in new customers but not to get them back to purchase again.

Publication :  Customer Think

Date : August 26, 2019

Gone-are-the-days when you had to wait for the festive season for exclusive discounts on your favourite brands. Nowadays, home furnishing brands are offering sales on their products all year round. Here, we list the five best online sales that are happening right now.Urban Ladder has a dedicated sale section, which displays the deals of the week across all categories such as dining, beds, mattresses, study, sofas and accent chairs. The discounts offered are up to 40% and you can furbish your entire apartment with products from this sale. The items include elegant dining tables, sleek desks, sophisticated TV units, luxurious beds, unique lamps, and compact storage cabinets.

Publication : Architectural Digest 

Date: August 27, 2019

To protect consumer interest, the government on Tuesday said the guidelines drafted for e-commerce firms will be made mandatory under the new Consumer Protection Act and stringent action against violators will be taken by a regulatory authority. The consumer affairs ministry has decided to frame the rules to implement the Consumer Protection Act by December and asked stakeholders to submit their views by 15 September. Meanwhile, the ministry has also sought views on the draft guidelines on e-commerce by the same date. “The draft guidelines on e-commerce will be made part of the rules under the new consumer protection law.

Publication : Livemint

Date : August 27, 2019