Status quo for Indian apps in Google row; D2C brands push offline
Google is providing an extended timeline to ten companies to pay the service fee applicable for in-app purchases made by users. According to sources, the timeline will be stretched till the time there is a concrete verdict from the Supreme Court.
Pure-play online D2C brands step up offline presence to push growth
Mamaearth, one of India's prominent D2C brands, is expanding its reach with over 1.7 lakh retail touchpoints, marking a shift towards physical retail. Other brands like Licious and Minimalist are also adopting an omnichannel approach. However, entering offline retail comes with challenges, including adapting product assortments and building trust with trade participants. Despite the challenges, brands like Slurrp Farm, Just Herbs, and Nykaa are rapidly expanding their offline presence, recognizing the value of physical touchpoints in customer engagement and sales.
India wearable market grows 34% in 2023: report
According to a report from IDC, the Indian wearable market recorded 134.2 million units in 2023. The average selling price of wearables dropped over 15% to $21.2. IDC also said that the Indian wearable market will see a single-digit growth in 2024.
Distribution-as-a-service startup ofScale secures $375,000; grocery and gourmet to be next focus area
ofScale’s maiden funding round saw investments from Matrix Partners India DeVC and Relentless Ventures. The company is assisting D2C brands, like Arata, Wishcare and Paradyes establish their offline footprint.
Investing in NPS made easier by PFRDA for these subscribers
The process to open an National Pension Scheme (NPS) account has been made easier by Pension Fund and Regulatory and Development Authority (PFRDA). Further subscribers who have not updated their signature and photo in their accounts are now to be provided an online facility to upload one. Presently there are two CRAs in NPS: NSDL and Karvy.
Income tax payable on winnings from online, offline games of chance
E-commerce websites like Amazon, CRED, others oftentimes runs free to play gaming contests like spin-the-wheel and others. For the purpose of income tax these games are a game of chance and are taxed at flat 30% rate plus cess, etc. Nonetheless there are some things to consider if an individual has won prizes by playing similar offline or online games.
We are focused on market share gain; almost 40% of our business comes from offline now: Honasa Consumer CFO
“In our balance sheet, if you exclude cash and if I have to analyze our performance in the first half, we are almost at 50% plus ROCEs. So it is a business where given the opportunity that exists, we will focus on ensuring that we continue to deliver market beating growth.”
Herby Angel raises US $ 2.5 million funding from JCBL Group
A report by the market researcher TechSci Research said the organic personal care products market in India was valued at US$ 570 million in financial year 2020-21, forecasted to grow at a compound annual growth rate of 15% to touch US $1,239.04 million in FY 2026.
New playbook: Online gaming companies, brands target offline streaming in India
Gaming companies such as Krafton, Nodwin Gaming and Jio Games along with brands such as iQOO, Lenovo and Red Bull are investing large sums of money in offline streaming of popular esports leagues in physical arenas across India.
Premium smartphone segment likely to party this festive season, drive overall shipment growth
The premium smartphone segment is expected to experience strong growth during the festive season, with distribution channels and financial institutions offering discounts and attractive offers. Shipments are predicted to rise 7% year-on-year, with average selling prices expected to increase by 10%. Affordable 5G smartphones under Rs 15,000 are also projected to drive volumes.
Honasa Consumer plans to raise Rs 400 cr from IPO, to invest in offline expansion, acquisitions
Its salon business BBlunt, acquired from Godrej Consumer Products, exclusive brand outlets and overseas expansion to geographies such as the Middle East and newer categories would be the newer engine of growth, he said.
How to buy the national flag online/offline for Rs 25 this Independence Day
The Government of India has launched the campaign to encourage all citizens to hoist the National Flag in their houses.
Realme's dynamic partnership paves the way for distribution-driven growth in the market
Realme is aware of the many advantages of working with distributors, which enables it to use their broad reach and market knowledge. Through these alliances, realme has access to a huge client base and can provide its products to a variety of consumer groups in numerous markets.
Archive of Our Own down? It could be offline for weeks, here’s why
The well-known platform for fan fiction has been experiencing a Distributed Denial of Service (DDoS) assault in the last few hours. But it could be down for a longer time.
Fashion accessory startup Zouk keen on more offline stores, charts out FY24 growth blueprint
The brand, founded by IIM Ahmedabad batchmates and husband-wife duo Disha Singh and Pradeep Krishnakumar, had raised $3 million in fresh capital earlier this year, in a funding round led by Stellaris Venture Partners and participation from Sharrp Ventures, JJ Family Office, Deutsche Bank India CEO Dilip Khandelwal, Manoj Meena of Atomberg and Vineeta Singh, Kaushik Mukherjee of Sugar Cosmetics.
Pandemic boom over, D2C brands now switching to offline channels: Tata Consumer MD
“The hype of D2C, which was there during the pandemic, is starting to taper off a bit and that is also one of the reasons why many of the players are now starting to come into the offline world,” Sunil D'Souza, managing director at Tata Consumer said.
Digital consumer brand Atomberg raises $86 million in funding from Temasek, Steadview
The company, founded by IIT Bombay alumni - Manoj Meena and Sibabrata Das - will use the fund infusion to boost manufacturing capabilities, support new product launches, deepen offline presence across key regions.
The Kapsons Group story: How the retail and distribution conglomerate is building a vibrant legacy for the future
How Kapsons Group has evolved into a powerhouse conglomerate of six companies, firmly rooted in the businesses of retail, distribution, technology, outsourcing, and service provision
'Xiaomi looking to leverage offline channel to regain lost share'
Xiaomi India, which saw shipments decline by a sharp 44% in Q1 2023, as per Counterpoint Research, has released over a dozen job listings to strengthen its offline market presence. The company is hiring multiple cluster managers and zonal sales managers primarily across tier 2 cities.
Paytm boosts offline payments leadership with 6.8 million devices, GMV grows 40%
The merchant gross merchandise value (GMV) for the quarter (for three months ended March 2023) grew 40% YoY to Rs 3.62 lakh crore ($44 billion).
Offline companies beat e-tailers in leasing warehouses
Offline retailers leased 3.2 million square feet (msf) of warehousing space last year, bouncing back to pre-pandemic levels, data from commercial real estate services firm CBRE showed. At the same time, warehousing space that ecommerce companies took on lease in 2022 more than halved to 2.2 msf from 5.9 msf in 2021 as demand shifted to offline retail stores that operated without any restrictions last year.
Offline stores account for two-thirds of sales: Spice Story
Spice Story partnered Jayanti Herbs and Spice for its offline expansion in August when online sales contributed 60%.
Online, offline credit delivery converging
The crackdown on digital usury and strong-arm loan recovery by unregulated apps is also designed to curb money laundering and will include monitoring of rented accounts, review of dormant credit companies and time-bound registration of payment aggregators.
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