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BY NISHANT ARORA
With more and more Indians taking the online route to fulfill their shopping needs, e-tailers like Amazon and Flipkart are witnessing high demands, including from far-flung and remote areas, but overall slowdown and negative sentiments – coupled with the new ecommerce policy and the likely entry of Reliance into the ecommerce space soon — may spoil the 2020 party for the market leaders, say industry experts.
The later part of 2019 was not all that bad for Amazon and Flipkart as festive sales brought in record revenue for both the companies.
Online retailers in India recorded $3 billion (Rs 19,000 crore) worth Gross Merchandise Value (GMV) sales between September 29 and October 4, according to Bengaluru-based market research firm RedSeer Consulting. Flipkart and Amazon’s combined sales held 90 per cent of the market share.
A report by Forrester Research also predicted e-retailer sales to hit nearly $4.8 billion during the overall festive season.
Walmart-owned Flipkart claims it has over 60 per cent market share in the Indian ecommerce market while Amazon is believed to have about 30 per cent market share.
Despite facing regulatory hurdles in early 2019, Cloudtail India, which is the single-largest seller on Amazon India, reported revenue growth of 25 per cent for March 2019 quarter.
Cloudtail is owned by Prione Business Services, a joint venture between Infosys founder N.R. Narayana Murthy’s Catamaran Ventures and Jeff Bezos’ Amazon.
Catamaran, which owns 76 per cent in Cloudtail India, is now being headed by ex-Infosys CFO Ranganath Mavinakere, Murthy’s all-time favourite.
According to Satish Meena, Senior Forecast Analyst with Forrester, 2019’s initial months were severely impacted by the new regulation fears.
“There has been an overall slowdown amid negative sentiments in the ecommerce sector. The sales did pick up in the festive season but overall, it has not been a great year and you will see cut in the 2019 growth forecast percentage for the Indian ecommerce industry,” Meena told IANS.
“Profitability is still a concern for the big players. There have been investment in certain new categories but nothing much has changed this year,” he added.
Reliance’s likely entry into the space by Diwali next year will bring in massive competition for both Amazon and Flipkart.
“The discount-driven approach which Reliance has mastered reflects in whatever vertical they put their money into. They will likely enter the ecommerce space with the high-potential grocery segment near Diwali next year or may be later. Timeline is still a concern but they are coming big,” said Meena.
Reliance Retail’s entry into the online retail sector is the biggest challenge for Amazon and Walmart-Flipkart as the Mukesh Ambani-led behemoth is well positioned to create massive disruption in the market.
Reliance Retail operates 10,415 stores in more than 6,600 cities and towns, with 500 million annual footfalls – giving the company the kind of scale required to swiftly launch India-based operations.
Reliance Retail has already launched its food and grocery app for beta testing among its employees.
According to the India Brand Equity Foundation (IBEF), propelled by rising smartphone penetration, the launch of 4G networks and increasing consumer wealth, the Indian e-commerce market is expected to grow to $200 billion by 2026.
The ongoing digital transformation in the country is expected to increase India’s total Internet user base to 829 million by 2021.
Another big worry for Amazon and Flipkart is the new ecommerce policy that is still in the consultation stage. India has questioned Amazon’s “predatory prices” and “deep discount sales”.
“In the year ahead, it remains to be seen what shape the new ecommerce policy based on the recommendations of various industry stakeholders takes shape,” said Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR.
“The beneficiaries of the new e-commerce policy would potentially be small and bespoke e-commerce players, who could benefit from the level-playing field that the policy aims to provide,” Ram told IANS.
The grocery segment is a big growth area in 2020.
“We have seen players like Grofers (backed by SoftBank, Tiger Global and Sequoia Capital) making inroads into the segment. Social commerce will be another big growth area in 2010. Facebook has also made investment in Meesho, a platform that enables Indian entrepreneurs to establish online businesses via social channels,” said Meena.
“The viability of the existing and upcoming ecommerce players will be tested big time in 2020,” he added. (IANS)
Social media is an umbrella term that encompasses all apps, websites, and blogs that allow people from all over the world to interact through the internet. Anyone who wishes to use any social media platform must first sign up and then sign in to view content and communicate with other members of that social media platform. Facebook, Twitter, Instagram, WhatsApp, LinkedIn, and Snapchat are commonly used social media platforms. Social media, like all technological advancements, has both advantages and disadvantages.
Social media has become an essential aspect of life for many youths in today's society. Numerous young people carry on involving themselves with social media without even bothering to consider its effect on them. The consequences may be both good and bad at times. When it comes to the negative impact of social media on teenagers, the majority of the time, they are unfavourable if the activity is not linked with a commercial or professional objective.
Social media has taken on such significance in today's society that it has overtaken other concerns. | Photo by Sara Kurfeß on Unsplash
Social media has taken on such significance in today's society that it has overtaken other concerns. People, especially teens, are addicted to social media and have lost sight of the essential things in their lives like family, friends, physical activities, social interaction, sports, education and much more.
One manner in which social media harms our mental health is through the use of unfavourable social comparisons. Teenagers or even grown-ups who use social media spend a significant amount of time examining the lives and activities of their friends. Continuous comparisons lead to low self-esteem and negative body image in adolescents, increasing depression and anxiety in such people; this includes stalking their achievements, events, their pictures or the events they have attended. On comparing, it makes oneself feel worse about their life.
Teenagers or even grown-ups who use social media spend a significant amount of time examining the lives and activities of their friends. | Photo by Ángel López on Unsplash
We can only see the virtual aspect of a person while we are on social media sites. This means that we can only see the side of the situation that they want us to see. Many people make an effort to present themselves in a way that they are not. Bullying among peers is a common practice, which is acceptable to a certain level. However, when it comes to cyberbullying, it has a significant impact on a person's mental health, as the comments or posts may appear on the newsfeed of any individual and spread quickly. Depression and suicidal behaviour can occur as a result of such things.
Particular teenagers are highly prone to be manipulated. Such teenagers may feel the urge to alter their physical appearance as they begin to compare themselves with every other person they come across on social media. This can result in low-self esteem; also, there is a tremendous temptation to overindulge on social media. Hence, it can become an addiction for adolescents and cause them to get distracted, as already mentioned.
Several studies have found that excessive social media use is frequently associated with underlying problems such as depression, chronic stress, anxiety, or low self-esteem. | Photo by AH NP on Unsplash
Several studies have found that excessive social media use is frequently associated with underlying problems such as depression, chronic stress, anxiety, or low self-esteem. Hence, it becomes a social responsibility for us to keep a check on our and our friends' mental well-being by unplugging our devices, building solid friendships and beginning the search to find our true inner self by meditation, exploring nature and organizing offline get together.
Keywords: negative, unfavourable, friends, depression, teenagers, people, social, mental health
During festivals like Diwali, one shouldn't only pay pay attention to dressing up, shopping and meeting family members; an integral part of festivities includes cleaning and decorating our homes, neighbourhood and spreading joy. But while anybody can clean their homes, designing new spaces can be a tad bit cumbersome. With a restricted budget and high-priced decor products in the market, everyone is always looking out for new ideas that are both cost-effective and can transform your home to welcome Maa Laxmi and the New Year. Don't worry though, the following five budget-friendly ways shared by Niraj Johri, founder & CEO at Casa Decor, help you decorate your home in a manner that makes it unforgettable.
Adding metal accents
Adding brass, silver, or copper accessories in the tiny little spaces inside your home can elevate its overall design aesthetics. Metals are the epitome of elegance and luxury -- they can be moulded to lend an eccentric and dynamic fusion of colours. Due to their unpredictable nature, artisans can find numerous ways in which they can help accentuate every corner in your home.
Folded into intricate forms with beautiful solid colours, metals are an undeniably fascinating material to use in home decor. In fact, they are known for their polished and refined looks that bring together edgy, contemporary, and Victorian styles to the forefront. Such designs can usually be found in handcrafted decor pieces such as metal trays that are perfect centrepieces on wooden tables.
Adding brass, silver, or copper accessories in the tiny little spaces inside your home can elevate its overall design aesthetics. | Photo by Priscilla Du Preez on Unsplash
Flowers, flowers everywhere!
This Diwali one should endeavor to shift to organic decor pieces that make use of fresh flowers elevate spaces like doorways, balconies, stairs, or even put them in vases and let the flowers be the centre of attention. Houseplants and flowers not only brighten your surroundings but also boost your mood immediately. Since Diwali calls for parties at home, flowers can function as a catalyst for good vibes.
You can also make use of metal planters enchanted by unexpected colors and veins. Through their unique characteristics and diverse sets of textures, metal planters enable the preservation of charm and value unique to Indian handicraft traditions and cultures.
Since Diwali calls for parties at home, flowers can function as a catalyst for good vibes. | Photo by Roberta Sorge on Unsplash
Light lights! Tea lights
Tea lights are perhaps best used when they are placed inside intricately handcrafted ceramic casings that combine various traditional techniques practised through time. Each piece exudes a sense of muted culture that find a new life in the nuances of the design work.
Each piece exudes a sense of muted culture that find a new life in the nuances of the design work. | Photo by Sven Hornburg on Unsplash
How about some lanterns?
Lanterns with fairy lights is a very popular idea that can be found in most households today. All you must do is fill the jar with fairy lights and hang them in any corner of a room. They offer an inspiring firefly effect that lends a unique and inimitable look to spaces within homes.
Lanterns offer an inspiring firefly effect that lends a unique and inimitable look to spaces within homes. | Photo by Vladimir Fedotov on Unsplash
Mirror Mirror on the wall
Wall mirrors are another way of adding an aesthetic and elegant touch to homes. One can add different sizes of mirrors on empty walls and change the look of the entire area. A classic mirror will add richness to your home and function as a reflective piece to shed light in each corner. (IANS/ MBI)
Wall mirrors are another way of adding an aesthetic and elegant touch to homes. | Photo by Tuva Mathilde Løland on Unsplash
Following a huge growth in his personal fortune, Tesla and SpaceX CEO Elon Musk has renewed his promise to "extend life to Mars". According to The Star, Musk's wealth has swelled to an astonishing $230 billion. Or a whopping 861 billion Dodgecoin, a cryptocurrency backed by the entrepreneur after he was reported to have invested millions.
Musk is now richer than Bill Gates and Warren Buffett combined, both individuals who had previously held the rich list title. "Elon Musk (with a net worth equal to 861 billion #Dogecoin) is now richer than Bill Gates and Warren Buffett COMBINED!" popular crypto YouTuber Matt Wallace's tweeted.
To which Musk said: "Hopefully enough to extend life to Mars". "Have no doubt you will make it happen," Wallace responded. CEO investments, the creators of Dogecoin, also responded backing Musk's plans every step of the way. The SpaceX Mars programme was initiated by Musk to colonize Mars after he first conceptualized the project back in 2001. SpaceX's aspirational goal has been to land the first humans on Mars by 2024, but in October 2020 Musk named 2024 as the goal for an uncrewed mission. (IANS/ MBI)
Keywords: investments, combined, SpaceX, billion, Elon musk, tesla