Sales Blow For Online Marketplaces
Online marketplaces Amazon and Flipkart have seen as much as a third of sales volume disappear on their platforms since the new foreign investment rules in e-commerce came into effect a few days ago, sources said, according to a report.
The new regulations bar some of the business practices that foreign funded e-commerce companies followed, such as having a stake in companies that sold products on their platforms.
Since last Friday, the platforms have pulled product listings from joint-venture and preferred sellers, and capped inventory, leading to fewer selections, higher prices, longer than usual delivery time, and a 25-35% fall in sales, the sources added.
New Samsung Phone To Offer Pop-Up Camera
Samsung’s upcoming smartphone will feature a mechanical pop-up camera claims a tweet from tipster Ice Universe, says a report
If the leak is true, it will be Samsung’s first-ever phone with a pop-up front camera.
The tipster says, “Its screen is perfect, there is no Notch, no Hole.” The pop-up camera on Samsung Galaxy A90 will be similar to the one seen on Vivo NEX.
Volkswagen Retains Top Spot
Volkswagen AG retained the car industry’s top spot in sales as Japanese arch-rival Toyota Motor Corporation’s global deliveries failed to match those of its German competitor, says a report.
Toyota’s sales rose 2% to 10.6 million vehicles last year, boosted by demand outside its domestic market, the Japanese giant said in a statement.
Volkswagen reported deliveries of 10.8 million vehicles earlier.
IKEA Footfall To Be Lower Than Estimate
IKEA expects 5 million footfalls in its first year of operation in India against an earlier estimate of 7 million, says a report.
This claim was made by John Achillea, store manager at the Swedish home furnishing giant’s first India store in Hyderabad.
He said that visitors have been fewer than estimated in the first six months of operations, but sales volume of low-priced items has been good.
H&M Sales Cross Key Mark
Fashion retailer Hennes & Mauritz’s (H&M ) yearly India sales crossed the 1,000-crore rupees sales mark three years after entering the country, says a report.
But, growth at 29% was significantly slower than preceding years when it doubled business each year.
For the year to end of November, sales climbed to 1109 crore rupees from 860 crore a year ago, the world’s second-largest clothing firm said in a statement.
Apple To Open Larger Stores
Apple plans to roll out half a dozen larger outlets, in the range of 5,000 sq ft, November this year in India, according to a report.
There will be three each in Delhi, NCR and Mumbai, two sources said.
The large outlets called Flagship Apple Premium Resellers (FAPR) will be about three times larger than its current average size of 1,500 sq ft the iPhone maker currently operates here, they said.
Consumer Goods Sector To Grow 12%
Market research firm Nielsen expects India’s fast moving consumer goods sector to grow 11-12% during calendar year 2019, says a report.
This is a tad lower than a year ago period due to higher base.
In 2018, the FMCG market grew 13.8% helped by favourable macros such as GDP growth and Inflation as well as manufacturers passing on the benefits of margin expansion coming out of GST regime.
Suzuki Launches New Motorcycle Model
Suzuki Motorcycle India launched 2019 edition of its premium motorcycle model V-Strom 650XT ABS priced at 7.46 lakh rupees (ex-showroom, New Delhi).
The refreshed Suzuki V-Strom 650XT ABS now comes in new graphic along with additional features of hazard lights and side reflectors, the company said in a statement.
The 2019 Suzuki V-Strom 650 ABS is powered by a four stroke 645 cc engine targeting customers seeking a middle-weight adventure bike, it said.
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