Myntra.com, the e-commerce site that sells fashion and lifestyle products, will tap the Indian Diaspora, particularly in the US. Using its portal exclusively.in, the e-commerce company will offer a host of ethnic brands.
"There is hardly any contribution from exports. We are going to tap this opportunity soon," Sunjay Guleria, Vice-President (Marketing) of Myntra, said.
Who will be the biggest retailer in the world in 2020? As former Asda chairman Andy Bond predicted last year, Amazon is likely to leapfrog Walmart into the top spot by the end of the decade. Walmart's sluggish response to online and multichannel trading has certainly attracted its fair share of criticism.
Taobao, China's largest online marketplace, has revealed that, among its most loyal customers, men buy twice as many items as women.
A new report from the ecommerce firm identified 12 types of customers, including the above, which it labelled "hands-chopping people", because they are ardent online shoppers but sometimes regret spending so much and say they will chop off their hands if they buy items online again.
New players in the online business sector have already tagged Indonesia as a prominent market and plan to further tap into it through notable expansions this year as smartphone users are scaling up.
Maximillian Bittner, the CEO of Lazada Southeast Asia, said that Indonesia has become their number one revenue generator in the region in just one year.
"Indonesia contributes approximately 30 percent of Southeast Asian revenues," he said on Monday during the one year anniversary of lazada.co.id, the local website address of Lazada Indonesia.
Insurers are betting big on online sale of their products and opening new channels such as mobile phones and other smart devices to reach out to customers. According to ‘The World Insurance Report 2013’, by Capgemini and Efma, newer channels like mobile phones offer fresh opportunities for insurers to increase revenue by boosting sales, shortening sales cycle times, enhancing customer experience and satisfaction, and reducing attrition.
With India’s largest e-commerce entity Flipkart announcing the launch of a marketplace platform, many in the sector wonder if this model is more suited for the Indian market than the inventory-led one.
Online export is an effective channel for small and medium enterprises (SMEs) in Singapore to reach millions of consumers overseas and sell to the global marketplace, a new PayPal study showed.
With over 154,000 SMEs accounting for 90 percent of all businesses in Singapore, they are expected to contribute significantly to the country’s export trade flow.
With total trade volumes from traditional export channels in 2013 expected to remain flat, SMEs will need to find new sources of business growth especially when faced with rising business costs.
Indian eCommerce player Flipkart announced the launch of Flipkart Marketplace on Saturday. To start with, Flipkart has on-board 50 sellers that will sell books, media, and consumer electronics.
The announcement means a change in the way Flipkart does business. With a marketplace model, Flipkart will no longer have an inventory of its own, rather buyers can deal with sellers directly and the delivery will be done by Flipkart. The model will be similar to eBay India.
Alibaba Group, the mainland's largest e-commerce services provider, has extended the reach of its market-leading daily deals group-shopping business into Hong Kong and Taiwan.
The prices of prepaid Australia Post packages have been raised by up to 30 percent to take advantage of the online shopping boom.
For the first time, most of Australia Post's revenue comes from parcels instead of letters, and 70 percent of parcels are from online transactions. The rises, which come into effect on Monday, also mean the cost of getting a signature on delivery, a requirement for most online sellers, almost triples from AUD1 (USD1) to AUD2.95.