E-commerce

Top Online Couponing Trends To Watch Out For In 2016

Published

9 months ago

October 9, 2023

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In India, ecommerce has shown tremendous growth in the last five years. The ease, convenience and variety available online often surpasses the benefits of shopping from retail stores. However, only 1-2% of retail sales take place online. This means that there is still tremendous headroom for growth in the Indian market and we do not anticipate a slowdown in user acquisition for the top guns in this space. Currently 13.5% of the total ecommerce shopping in Indian happens via coupon sites and other affiliates. Ecommerce sites often put out attractive deals and coupons for products they wish to promote heavily, new products and to clear stock of old inventory. Couponing sites are an easy way for e-tailers to distribute and advertise their coupons. The traffic on such couponing sites is high intent as those users are looking for bargains; thus it is a great way for ecommerce sites to drive conversions and for shoppers to save money.

As Ecommerce in India evolves, we will see a lot of new and interesting trends emerge, the following are a few that we anticipate.

Ecommerce Loyalty programs: There has been a strong adoption for loyalty programs among consumers in the recent years. Exciting discounts and gratification from loyalty programs always excite consumers, and we expect to see this trend continuing the year ahead. In fact, companies will look at deepening the wallet share with their current users to reward them for their repeat purchases.

Personalization: While most companies monitor consumer buying patterns, not many ecommerce players have effectively crafted the art of predictive selling based on previous buying history. Like in the case of Amazon, if someone buys a mobile phone, Amazon promptly send options like a scratch guard, cover related to the specific model purchased. Brands now will try to focus on such a personalized approach.

Couponing will go mobile: While there already has been a fast paced adoption of Smartphones, we can expect a larger exodus of consumers moving to Smartphones for transactions. The rising penetration of Smartphones into smaller markets and access to faster internet network will accentuate this adoption. Businesses will also hence navigate into m-commerce format in order to stay close to the consumer. Hence, couponing will also have to shift to were the consumer demand is.

Travel: Traveling is going to be on top most priority in the coming year 2016. Industry sleuths expect to see a increase in not only business travel but also in leisure, owing to the long string of extended weekends and holidays in the year. So apps and services that help in making easy and economic bookings and last minute deals will be a buzz. Couponing sites typically have the best deals for travel and hotels and it is definitely recommended that a consumer checks these portals before making reservations.

Advent of Hyperlocal services: While the last year saw hyper local services mushroom across categories. We expect to see a synergy among hyper local businesses and couponing, as consumers will start to expect discounts similar to those available from ecommerce merchants which using these hyperlocal services. For the hyperlocal merchant, couponing will serve as a user acquisition mechanism.

Tier II & III cities gain momentum: While the metros and urban audience will be the focus for most marketers, we cannot neglect the emerging Tier 2 and 3 markets as potential areas to drive the next phase of growth. There has been a remarkable growth in the use of couponing in these smaller markets and we can expect them to continue to contribute to the business growth. Interestingly the audience here is aware of new market trends and is open to adopt these changes which is the significant reason to drive encouraging business numbers.

The couponing business is very popular in the western countries and India is to follow the trend. It comes as a relief to the consumers to shop smartly and save money with the use of discount coupons. The future of couponing in India looks bright and promising as most buyers are using them in pursuit of discounts and to avail the best offers.

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E-commerce

Blinkit delivers Lenskart products in 10 mins.

Published

3 months ago

April 13, 2024

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In an announcement on Friday, Albinder Dhindsa, the founder of Blinkit, revealed that the quick commerce firm, owned by Zomato, will now offer delivery of eyewear products from Lenskart in under 10 minutes. This partnership allows Blinkit customers to access Lenskart.com products swiftly, initially focusing on sunglasses and Lenskart’s Hustlr range, which includes computer glasses. Dhindsa expressed curiosity about the evolution of the Hustlr brand over time.

The expansion of quick commerce services beyond groceries is evident as various categories such as beauty, toys, health, and electronics witness significant sales growth on such platforms. For instance, Arindam Paul, a founding member and CBO at Atomberg, recently shared on LinkedIn that the company has started selling its products on a quick commerce platform, maintaining the same prices as offered on other e-commerce platforms.

Additionally, Blinkit recently announced its availability of PlayStation 5 on its platform. Dhindsa noted that Blinkit customers in Delhi NCR, Mumbai, and Bengaluru can now have the all-new PlayStation 5 Slim editions and controllers delivered within 10 minutes. However, due to high demand, the product quickly went out of stock within a week of its launch. Dhindsa reassured customers on LinkedIn that the company is actively working on restocking PlayStation 5 units at its stores to meet demand.

E-commerce

Amazon collaborates with neighborhood stores to offer community New Year items.

Published

3 months ago

April 11, 2024

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In Kolkata, approximately 15,000 local shops spanning across Bengal have partnered with Amazon India to provide a diverse range of items essential for various community New Year celebrations. These items include fresh flowers, rangoli, and puja essentials necessary for rituals during festivities such as Poila Baisakh, Ugadi, Gudi Padwa, Bohag Bihu, and others.

Furthermore, not only shops specializing in traditional festival items, but also those selling home furnishings, kitchen appliances, personal care products, computers, and peripherals have joined Amazon for this occasion. The collaboration aims to cater to the diverse needs of customers during the New Year celebrations of different communities.

These local partner shops of the e-commerce giant are situated in prominent locations across Kolkata, Howrah, Durgapur, Nadia, Hooghly, and Kharagpur. Abhishek Jain, the head of local shops at Amazon India, assured that orders placed would be promptly delivered to customers.

The festivals such as Poila Baisakh, Ugadi, Gudi Padwa, Bohag Bihu, Maha Vishubha, and Sankranti are celebrated with great fervor in various regions. In Bengal, these New Year festivals are embraced by the respective communities residing in the state.

Jain further elaborated that this year, nearly 4,700 sellers are offering approximately 60,000 festival-themed products across India through Amazon’s platform. The company anticipates an increase in the number of sellers partnering with them, thereby enhancing the variety and accessibility of festival-related products for customers nationwide.

E-commerce

Indiamart shakes up management, names new CFO, CIO.

Published

3 months ago

April 10, 2024

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Indiamart, a prominent B2B e-commerce platform, has announced the appointment of Jitin Diwan as its new Chief Financial Officer (CFO), effective May 15, according to a regulatory filing on Monday. Diwan brings over 17 years of experience to his new role, having previously served as the Head of Finance (Vice President) at Upstox Securities and holding positions at companies like Amazon India, Bharti Airtel Limited, and Vodafone.

Diwan will succeed Prateek Chandra, the current CFO, who will transition into a new role within the company as Chief Strategy Officer starting June 15.

The filing also revealed Indiamart’s recent investments totaling Rs 1100 Cr in pursuing inorganic growth opportunities across B2B, Fintech, Logistics, and business SAAS sectors. It mentioned acquisitions of Busy Infotech and Livekeeping Technologies, along with multiple minority investments. To further nurture and grow these investee companies while exploring organic and inorganic growth opportunities, Indiamart has created the new role of Chief Strategy Officer.

Furthermore, Indiamart has appointed Nikhil S. Prabhakar as its Chief Information Officer. Prabhakar, with over 13 years of experience, brings expertise in business management, sales management, product management, and leadership. Before joining Indiamart, he was associated with companies like Pristyn Care, Ola Financial Services, and Bharti Airtel.

In addition to these appointments, Dinesh Chandra Agarwal has been re-appointed as the Managing Director and CEO for a term of 5 years, effective from January 8, 2025.