Indian eCommerce News Bulletin of Current Week (31 July 2014)
Hey Guys, welcome to NextGust news bulletin. In this week eCommerce news bulletin we have basically news from how big E-tailers are getting funding from big investors, innovative marketing campaigns and also how mCommerce is changing e-market equations.
Ecommerce News
Flipkart’s Bansals raises $1 bn, nearly as rich as Infosys co-founders
Bangalore based eCommerce venture Flipkart has raised fresh $1 billion (6000 Crore) funding and valuation of the company has become $ 7 billion. From 2011 to 2014, Flipkart grew its sales from $10 million to an annualized $2 billion, an over 100 times growth in three years. There is a huge revolution in e-commerce in India, with the future of retailing coming from the internet.
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Amazon infuses $2 billion in India, a day after Flipkart’s $1 bn funding
A day after Flipkart announced raising $1 billion in funds, e-commerce giant Amazon on Wednesday said that it will invest an additional $2 billion in India to support its growth in the country. Amazon CEO said there is a huge potential in the Indian economy and for the growth of e-commerce in India and With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India.
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M-commerce becoming increasingly important for E-tailing
Mobile phones, especially smartphones, have become a natural choice of communication device over the past decade. Technopak’s estimates, smartphone penetration in India is expected to grow from the current 6% to 33%, by 2020 and among those 80% of the devices will be smartphones. It is estimated that, in 2013, 15% of Indians made at least one purchase per month through a mobile device. The further development of mobile commerce offers great opportunities for e-tailers in India.
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Shopclues to launch first ever brand campaign
eCommerce venture shopclues, which has been ranked among top 5 eCommerce companies of India, is going to launch its brand campaign along with company Enormous. The campaign basically taps into the the Indian mass-market psyche of value shopping that will highlight the nature of this marketplace as completely differentiated from any of the other e-commerce platforms.
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Facebook partners GroupM for first ad deal in india
Online social networking company Facebook has signed its deal with GroupM. Collaboration will ensure better rates exclusively for GroupM clients on Facebook and also will provide better data and consumer insights.
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Online eye-wear retailer Lenskart hits road with Optometrists to reach customers
Online eye-wear retailer Lenskart has started sending out optometrists on bikes equipped with eye-testing devices to consumers in their homes. This sets an example that how Indian eCommerce ventures are growing sophistication as they try out innovative methods. Service has been launched in all metro cities and will expand to all tier 1 cities soon.
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Mobile startups hit million dollar revenue target fastest
Indian entrepreneurs have worked out that innovative mobile-based technologies race the fastest to the one-million dollar revenue mark with little capital. These entrepreneurs develop the products including mobile applications within a month’s time and then push for international acceptance. Once validated globally, the products lead to soaring revenues in quick time.
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