Technology is killing the traditional retailer. Victims will include those selling commodity brand-name-type products like consumer electronics, appliances, sporting equipment and furniture, and may even include those selling consumable goods.
TechCrunch: Shopping – both online and offline – is a great luxury of the modern era. People can enjoy a great selection at lower prices and shop from the convenience of their home, while still having the option of going to a local mall or retailer to peruse the aisles for instant gratification. But consumers can’t have their cake and eat it, too, and the retail world as we know it today can no longer give it to them. (more…)
WSJ: Since it opened its website in July 1995, Amazon.com Inc. has grown from a seller of books into one of the world’s biggest retailers. Its growth has been fueled by a consumer shift to online shopping and Amazon’s willingness to sacrifice profits to expand. Here’s a look at 20 years of sales for Amazon and 3 close competitors – Target Corp., Best Buy Co. and Barnes & Noble Inc. – and a look how Wall Street has valued those companies. (more…)
E27.CO: incub@TE, an incubator run by Tata Elxsi (part of the US$100 billion Tata Group), was launched in 2012 to nurture and support products- and service-oriented startups. This Bangalore-based incubator has now partnered with Get2Volume and AISB Holdings to provide cross-border programmes to early-stage ventures. Unlike other incubators, incub@TE forms a rather long-term association with its incubatees. e27 spoke to Rajesh Kumar, Vice President (Strategic Initiatives) at Tata Elxsi, to know more about the incubator. Read the full article
E27.CO: The Indian e-commerce market has found a new superhero — cashback. Move over discounts, cashback is the hottest new trend in business. Cashback is the newest trend to rock the entire Indian e-commerce game. Big players, emerging players, almost everybody in the e-commerce niche is embracing cashback culture, compelled by thick audience demand, surging market competition and latest funding rounds. It remains to be seen if the new fad stays strong in the long run or fizzes out in an industry that has been enveloped with deep discounting since its inception. Read the full article
TechInAsia: Indian women online shoppers in the age bracket of 18-24 are the most active and comprise of 52 % as compared to 20 percent between the age group of 25-34, 6% above the age of 34 and 2% less than the age of 18 years. On an average, most of the women prefer shopping online between 9 – 11 pm that too on Mondays and Fridays. Also, 80% women prefer Cash on Delivery payment option while only 20% opt for online transactions, said the survey. Read the full article
India will pass U.S. to become world’s second largest smartphone market by 2017: VentureBeat
India Now Uber’s Second Largest Market Following Expansion To 7 New Cities: TechCrunch
TechCrunch: BankBazaar, a startup that lets Indian consumers compare financial products online, has scored a $60 million Series C led by Amazon, with participation from Fidelity Growth Partners, Mousse Partners, and returning investors Sequoia Capital and Walden International. The platform aggregates information about online loans, credit cards, and fixed deposits from 23 financial institutions, which users can research and then apply for using its site or Android and iOS apps. BankBazaar says it gets four million unique visitors each month. For Amazon, its investment represents a chance to take a larger stake in the personal finance market. Read the full article
Read more on the topic: TechInAsia
THE NEXT WEB: Amazon may be the go-to place to shop online for physical goods, but it’s not of much use when your sink is clogged and you need a plumber, or want to have your broken iPhone screen fixed. Fret no more, as the company now lets you order a professional to your home with the aptly named ‘Amazon Home Services’, accessible at Amazon.com/services. (more…)
THE NEXT WEB: While Amazon has worked hard to promote its Android app store, let’s face it: if you’re not on Fire OS, you’ll use the Google Play Store almost all the time. But it looks like Amazon may have a trick up its sleeve to get users onto its marketplace instead. According to a report by TechCrunch, based off apparently leaked documents, an Amazon ‘Unlocked’ subscription will provide a range of apps and related in-app purchases free of additional charge. TechCrunch describes it as Amazon Prime for apps. (more…)
TECHCRUNCH: Amazon’s VP and General Manager of Payments, Matt Swann, who most recently oversaw initiatives including Amazon’s Square competitor called Local Register and Amazon Wallet, has left the company, TechCrunch has confirmed. The move comes shortly after Amazon shut down its beta version of Wallet in January amid mediocre reviews, and an increasingly competitive landscape where Apple Pay and Google Wallet now dominate.
TECHCRUNCH: Amazon is taking another step into the Internet of Things. TechCrunch has learned, and confirmed, that the e-commerce and cloud services giant has acquired 2lemetry, a startup based out of Denver that has developed an enterprise-focused platform to track and manage IP-enabled machines and other connected devices. (more…)