Shopmatic launches operations in India and other Top Retail News of the day

A brief round up of the top headlines that dominated the retail space nationally and internationally.

Oct 29, 2015 04:10 IST India Infoline News Service

With online retailing being bullish in India, Singapore-headquartered Shopmatic, which helps entrepreneurs to sell online, has launched its operations in the country. The company helps manage anyone who wants to sell online tackle the entire process  - from enabling them develop their own webstore to listing them on marketplaces and social channels to helping them with insights on how to sell online, all at $20 (about Rs. 1,300) per month. (BS)

The sellers on Amazon are seeing 8-10 fold growth during the festive sales compared to their daily sales according to Gopal Pillai, Director and GM, Seller Services, Amazon India. "Some sellers are even witnessing 20x growth. The Great Indian Festive Sale has seen 2-fold growth in terms of customers and units compared to Great Indian Freedom Sale and 4x growth compared to last Diwali," he said. Pillai was speaking to ET on his one-day visit to Chennai. (ET)

Chinese ecommerce company Alibaba posted revenues of $3.49 billion for the quarter ended September 2015, representing a year-on-year growth of 32% . The company also said that the gross merchandise value (GMV) of transactions was $112 billion showing a growth of 28%. Some of the trends we observed during the results also mirror the situation of ecommerce players in India. (Medianama)

Jabong needs to revive brand, increase discounts, improve its social commerce offering, and launch exclusive brands to claw back market share to rivals, such as Flipkart-Myntra and Amazon India. That’s a handful, especially given the deep pockets of its rivals and the lead that they have established over Jabong in the past year or so. (Mint)

“People are turning Diwali into a reckless celebration of throwing away $100 to earn $70; they are chasing vanity sales numbers to maximize the next fundraise,” says Vijay Shekhar Sharma, founder and chairman of One97 Communications, which runs the Paytm retail platform and digital wallet. (Forbes)

Online marketplace Shopclues.com, which aims to be the fourth ecommerce firm in the country to reach $1 billion in annualised gross merchandise value (GMV), said it added 50,000 new merchants on its platform in October owing to the ongoing festive sales. (ET)

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