Amazon.com was sued in a proposed class action in the United States, claiming the online retailer of breaking a consumer protection statute by guiding hundreds of millions of customers to higher-priced products to collect additional fees. According to a complaint filed on Thursday in federal court in Seattle, Amazon’s algorithm for determining what to display in […]
Amazon.com exceeded revenue projections, sparking an immediate surge of up to 8 per cent in its shares during post-market trading. The ecommerce and cloud giant attributed this success to the robust adoption of generative AI features across its cloud and online retail operations during the critical holiday period. The company’s cloud arm, Amazon Web Services […]
Walmart on Wednesday said that it wants to build or convert more than 150 shops over the next five years, as well as refurbish existing ones. Walmart said in 2016 that it was halting new store openings and instead investing in online activities, technology, and shop remodels to compete with Amazon. A company spokesman stated that the […]
A report has revealed that Flipkart, a Walmart group firm, continues to dominate the Indian ecommerce segment with a substantial 48 per cent market share as of FY23. Boasting a 21 per cent year-on-year (YoY) growth in its user base, Flipkart outpaces the industry’s overall growth. The report indicated that mobile and apparel are the […]
Meesho is gaining traction and share as the fastest-growing ecommerce platform in India, according to the latest report by Alliance Bernstein. The findings reveal that Meesho currently has a GMV run rate of over USD 5 billion and around 120 million average monthly active users. In December 2023, Meesho exhibited 32 per cent year-on-year (YoY) […]
India’s value retail industry, excluding food and groceries, is expected to expand to USD 170 billion by 2026, up from USD 111 billion in FY 23, according to Wazir Advisors. This industry is forecast to increase at a compound annual growth rate (CAGR) of 15 per cent between 2023 and 2026, outpacing the entire retail […]
As micro, small and medium enterprises (MSMEs) continue to ride the ecommerce wave, the Forum for Internet Retailers, Sellers and Traders (First) India, a division of India SME Forum (ISF) in a survey report has highlighted the challenges in the space and the need for policy reforms for a conducive ecosystem and collaboration between policymakers […]
The ecommerce giant, Amazon, has asked a federal court to dismiss a US government antitrust lawsuit that accuses the company of using illegal strategies to boost profits at its platform, including an algorithm that allegedly pushed up prices by more than USD 1 billion. In September, the US Federal Trade Commission (FTC) filed a lawsuit, […]
Amid issues such as debt and delayed payments faced by micro, small and medium enterprises (MSMEs), Godrej Capital Nirmaan has partnered with DBS Bank India, Visa, and Amazon to boost MSME growth in India. The company in a press statement stated that these collaborations are designed to aid MSMEs, offering a diverse array of value-added […]
Consumer demand for refurbished and pre-owned items in the United Kingdom and across Europe has generated a billion pound (USD 1.3 billion) industry for Amazon, according to its UK CEO. Many merchants and manufacturers expect that tendency to continue as consumers seek to save money and purchase more sustainably in response to rising pricing and […]
