IKEA is now letting customers pay for goods with their time. Yes, that’s right: the more time customers spend travelling to IKEA, the more they can buy. Because beginning from this month, IKEA Dubai is running a campaign that will allow customers to spend their time as a currency, simply by showing IKEA checkout staff their Google Maps timeline, which proves how much time they’ve spent travelling to IKEA stores. While restricted at this moment in time to IKEA Dubai, this promotion opens the door to a significant and profound change in how consumers purchase goods, and in how they relate to brands.

Publication: Forbes India

Date: February 17, 2020

At a recent event, the chairperson of the Competition Commission of India (CCI) cautioned against the creation of large digital platforms and the agglomeration of data in the hands of a few entities. However, the extent to which this is a policy concern merits careful evaluation, keeping in mind the fact that political considerations have long dictated the government’s response to e-commerce players and other digital platforms. Any attempt to reform competition law for the digital age must instead focus on the actual cause for harm and then tailor remedies that address this cause.

Publication: Hindustan Times

Date: February 17, 2020

The mandate for e-commerce platforms to deduct 1 percent TDS from sellers will add an undue burden on them, which “worsens the regulatory bias” against online platforms, industry body IAMAI said on Monday. The government, in the Budget, announced a new levy of 1 percent TDS (tax deducted at source) on e-commerce transactions, which is to be collected from the sellers by the e-commerce companies. “Deduction of TDS, over and above TCS deduction under GST, is yet another compliance on digital platforms that are not applicable to their offline counterparts, which worsens the regulatory bias against online platforms,” the Internet and Mobile Association of India (IAMAI) said in a statement.

Publication: Outlook Business

Date: February 17, 2020

Over the past six years, India has emerged as one of the most exciting markets in the world for internet startups. Billions of dollars have been poured into startups since 2014. These monies have been spent by e-commerce companies, transportation apps, food delivery firms and others on attracting customers to their platforms. Key stakeholders, including foreign investors, remain bullish on the prospects of Indian startups. Increasing internet penetration, fast mobile internet connectivity and rising incomes will continue to drive capital into internet startups that are attempting to unlock the potential of the country’s large consumer base.

Publication: Mint

Date: February 18, 2020

Customers retained are customers gained. Customer retention is key to building a brand and proving to the other players in the market that you offer consumers something that nobody else can. Online retail is fast-growing in every term of the phrase. Consumers today want everything delivered home by just using the click of a button. With smartphones becoming ubiquitous devices, the increase in online shopping has been exponential. E-commerce sites have their tasks cut out for them and it is a matter of who can handle the sprints and the marathons. Creating a brand that people trust is not an easy task but once you do it, your business will scale new heights.

Publication: ET CIO

Date: February 18, …

The start-up ecosystem is one of the fastest-growing in the world. India has become a start-up hub and is the third-largest start-up ecosystem in the world, having added over 1300 start-ups in 2019. India’s start-up ecosystem has a major impact on the country’s economy and start-ups being successful would be a boost for the overall economy. However, one of the major challenges most start-ups face is that of raising funds. Although the government has allocated a large number of funds to the start-u community and there has been a significant rise in the number of start-up incubators, there is scope for improvement.

Publication: Financial Express

Date: February 16, 2020

As online sales continue to grow, the necessity for digital compliance solutions for e-commerce platforms is increasingly clear. On top of filing your annual taxes with the IRS, there are several other compliance requirements business owners must be aware of. Failure to maintain a compliant status can lead to significant fines or operational restrictions on your online platform. While legal compliance has historically been rather straightforward, the matter has certainly complicated with the introduction of digital solutions. However, strong digital compliance is essential to protect your business from regulatory pitfalls.

Publication: CXO today.com

Date: February 15, 2020

It is believed that m-commerce or mobile commerce will be the next disruption in e-commerce space. It comes as no surprise then that almost 51 per cent of online sales volume is via mobile devices in India, compared to 39 per cent global average. India seems to be running much ahead in the m-commerce disruption as globally only 43 per cent consumers prefer using mobile phones for shopping. Indian consumers spend an average of INR 10,000 per month via mobile devices and as much as 83% consumers make an online purchase via mobile phone at least once a week.

Publication: Entrepreneur India

Date: Feb 15, 2020

In light of the e-commerce tax announced by the government during the Union Budget 2020, India’s major e-commerce companies raised red flags on the plan to charge TDS at the point of transaction. A Reuters report said that Amazon and Flipkart along with other e-commerce platforms are demanding the scaling back of the proposed e-commerce tax deducted at source (TDS) on third-party sellers on their platforms. To begin with, the budget had proposed bringing participants of e-commerce (sellers) within the tax net. The budget proposed to insert a new section 194-O to provide a new levy of TDS at the rate of 1%.

Publication: Inc42

Date: February 16, 2020

Soon, Indian startups will be able to list directly in India and overseas markets, confirmed Atanu Chakraborty, secretary at the department of economic affairs (DAE) in the finance ministry. Speaking at an interactive session on ‘Budget and Beyond’ at NITI Aayog, Chakraborty reportedly said, “Lots of companies do want to list both in India and abroad at the same time. We welcome the suggestion that could make the process more seamless.” The move will provide Indian startups with additional avenues for fundraising. Sequoia Capital India MD had also recommended the govt to allow Indian startups to list abroad.

Publication: Inc42

Date: February 16, 2020