American retail company Walmart is set to harness artificial intelligence (AI) in its drone delivery looking forward to improving its customers’ shopping experiences. Unveiling the plan, the multinational retailer said the goal is to reach 1.8 million additional households in the Dallas-Fort Worth metropolitan area later this year. Walmart has been utilising drone delivery for […]
High-profile acquisitions, Apple’s foray and the blend of online and offline experiences redefine India’s retail landscape in 2023 As 2023 concluded, the retail landscape experienced substantial changes where high-profile acquisitions and divestments were seen reshaping the corporate landscape. With the arrival of tech giant Apple in India, the direct-to-consumer (D2C) platforms and brands embracing the […]
Flipkart Internet, the marketplace arm of ecommerce major Flipkart has reported a Rs 14,845 crore growth in its operating revenue by 42 per cent for the financial year 2023. The company’s loss narrowed by 9 per cent to Rs 4,026 crore, according to a media report on Thursday. The firm’s operating revenue in 2022 stood […]
Walmart’s top executives expressed concerns about the future spending patterns of consumers, stating that financial strain is making them more cautious, Reuters reported on Wednesday. Chief Financial Officer (CFO) John David Rainey observed “unusual behavior” in October that prompted worries about the consumer’s financial health. He clarified at the Morgan Stanley Global Consumer & Retail […]
In a strategic move to cut costs and diversify its supply chain, Walmart, the world’s largest retailer, has significantly increased its imports from India, reducing its reliance on China, according to exclusive data obtained by Reuters. Data from bill of lading figures, shared by data firm Import Yeti, reveals that Walmart shipped a quarter of […]
India’s business landscape witnessed remarkable developments, with a surge in mergers and acquisitions (M&A) and private equity (PE) activities. Quarter three (Q3) 2023 saw 68 deals amounting to USD 4.15 billion, indicating an 182 per cent increase in deal values from Q2 2023. The values also witnessed an exponential 491 per cent from Q3 2022, […]
Amazon plans to hire an additional 250,000 workers in the United States for the upcoming holiday shopping season. It’s 67 per cent increase compared to the number of hires made in the previous two years. The decision is part of Amazon’s efforts to expand its next-day delivery services for customers. This hiring surge follows Amazon’s […]
Reliance Retail, under the control of Mukesh Ambani, is reportedly engaged in discussions with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, regarding a potential additional round of investments totaling around USD 1.5 billion. These talks are part of an internal objective to secure USD 3.5 billion in investments by […]
Multinational retail giant Walmart has recently completed a significant financial transaction, purchasing hedge fund Tiger Global’s investment in the renowned Indian e-commerce firm, Flipkart, for a staggering USD 1.4 billion. This acquisition, reported by The Wall Street Journal based on information from Tiger Global’s letter to investors, places a valuation of USD 35 billion on […]
At an investor conference, Walmart’s Chief Financial Officer, John David Rainey has said that Walmart’s Flipkart marketplace and PhonePe payments business in India has the potential to become USD 100 billion businesses due to their strong growth. While specific sales figures for Flipkart and PhonePe are not disclosed by Walmart, the company has emphasised the […]
