At the beginning of the new year, the two most prominent participants in the food delivery industry raised the platform fees by INR 1, which is equivalent to a 33 percent increase from INR 3 to INR 4. According to the predictions made by the media, the prices of consumer services would increase. This prediction was pretty much spot on thanks to Zomato and Swiggy, and it started on New Year’s Eve, which is the busiest day of the year for both of these companies.
Platform fees are not restricted to food delivery apps; Myntra, the top fashion eCommerce platform in India, is presently charging a platform fee of ₹20 for each order that is placed on its app. These fees are a component of the methods that the corporations employ to enhance their profitability and maintain their business models. The implementation of such fees, on the other hand, might vary, and some businesses may experiment with greater prices in the future or alter them based on the demand for specific services.
The most dedicated Zomato and Swiggy customers had to make some choices at the start of the new year. Should they decide to reduce their reliance on these platforms or keep paying ever-increasing platform fees to stay on top of them?
Starting on January 1, Zomato raised the platform fee from INR 3 to INR 4 per order in select areas. Unverified rumors circulated that on New Year’s Eve, Zomato briefly increased their platform fees to as much as INR 9 per order in several countries.
The price increases were justified by Zomato as “business calls” made after considering several variables. Coincidentally, Zomato’s order volume shot up to higher than the volume over the last six years combined, and the platform fees surged the day after New Year’s Eve.
The innovative approach and unwavering commitment to satisfying customers’ demands have contributed to Zepto’s steady rise to prominence, positioning it as the third-largest rival in the fast commerce space. Zepto is challenging industry heavyweights such as Swiggy Instamart and Blinkit, which is owned by Zomato, with a reputation for itself and a market share of over 20%. During its rise to prominence, Zepto has been known for its thoughtful approach to implementing platform fees, as well as its focus on user experience and operational performance.
In an attempt to boost income and operational efficiency, Zepto has decided to implement platform fees for a small number of users, which is different from the fee-free grocery order strategy of competitors Blinkit and Swiggy Instamart. Zepto’s plan, which starts at Rs 2 per order, follows the same model as established industries like eCommerce and restaurant delivery. Zepto emphasizes in its strategy introduction its commitment to sustainable growth and profitability over the long term and its willingness to try new things to stay ahead of the competition.
Size of the Online Food Delivery Market Across India From 2020 to 2023, With Estimates Until 2026
Aiming for Financial Gain
In addition to Zomato and Swiggy, other popular food delivery services like Uber, BigBasket, Myntra, and Dunzo impose extra charges (convenience charges, handling fees, and more) on top of the real delivery prices, which are typically discounted. Ola Prime Plus and Namma Yatri’s subscription plans for driver-partners are examples of new models that have emerged as a result of the revenue drive.
The fashion eCommerce behemoth Myntra, which is owned by Flipkart, started charging a fee for returns, which is one of its main selling points. The goal here is to correct unit economics.
According to Prosus, Swiggy’s principal investor, the company’s loss increased to $545 million in 2022 from $300 million the previous year, while Swiggy has not yet disclosed its financial results for FY23.
Platform fees are opening the way for the company to show a clear path to profitability in the next few months, which is necessary for its 2024 IPO. Platforms like Swiggy and Zomato will compensate to some degree by charging customers directly, even if discounts will still be around.
How much these fees are, how open they are, and how much value they give to everyone involved in the delivery process will determine if they are ethical.
The openness of these fees is also very important. Any fees and their purpose should be made plain to both customers and eateries. In an ethical system, food delivery fees would be reasonable, helping to sustain the industry while not unfairly harming any one participant.
According to a report by Decipher, the profound connection that people in India have with their furry friends is evident in the incredible evolution of the pet industry in the country. Approximately 32 million people in India own pets, and that number is growing at a rate of 11 percent per year. In response to this uptick in pet ownership, seventy new pet care businesses have sprung up in only two years. Investor interest in the pet care industry is on the rise, mirroring the rising spending on pet supplies and services. Venture Intelligence said that the industry received 77 million dollars in investments from 2021 and 2022. Among the most notable developments is the record-breaking $60 million investment in Drools by L Catterton, a major participant in the worldwide pet food investment industry.
The Indian Pet Market Joint Advisory Council (IPICA) recently predicted that the pet market in India had expanded approximately at a CAGR of 20% from 2016 to 2018. The current valuation of the industry is approximately Rs. 8,000 crores, with projections showing a growth to Rs. 20,000 crores by 2025. When put in context with the industry’s valuation of 1,200 crores only ten years ago, this is a very impressive growth rate.
Having more and more people in the country own pets is a major factor fueling this expansion. Euromonitor International estimates that there are currently roughly 19 million pets in India, with a projected 9% compound annual growth rate (CAGR) over the next five years. About 65% of pet owners in India are in the 20- to 40-year-old age bracket, according to the report.
Changing lifestyles and increasing disposable wealth are also driving the pet market in India. Pet supplies and services are seeing a surge in demand as the number of households headed by a single breadwinner increases and the number of people opting to keep pets as pets grows in popularity. The demand for high-quality pet supplies and services has grown in tandem with the growing awareness of the importance of pet health and wellness among pet owners.
Approximately 70% of India’s pet industry revenue comes from the pet food segment, making it one of the country’s most important economic drivers. More and more pet owners are seeking out premium pet food options that address their pets’ unique dietary requirements, taking into account factors like breed, age, and health status. Natural and organic pet food products have also been on the rise in recent years, as more and more pet owners seek options that don’t contain any artificial ingredients, flavors, or preservatives.
Size of the Pet Population Across India From 2006 to 2021, With Estimates Until 2026
Revolutionising India’s Petcare Industry: The Role of Startups
Like many other sectors, this sector is also attracting many startups to take its growth to the next level. Throughout the country, new businesses are making waves in the animal welfare industry. In addition to utilizing state-of-the-art technology to offer pet owners unmatched help, these firms are transforming conventional pet care techniques.
Some of the dominant startups in this sector such as Heads Up for Tails, and Pawfect.xyz, Wiggles, Just Dogs, etc. are making waves through their user-friendly solutions for pet owners.
The availability of trustworthy and reasonably priced technology is also contributing to the rise in popularity of the Internet of Things (IoT) in India. Pet tracking systems that are both affordable and easy to use are currently sold by a plethora of companies. A pet’s whereabouts, health, and activity levels can all be tracked with one of these gadgets. Another tech solution that is making waves in the pet care industry is cloud computing. With the help of this module, pet owners can store and share their pet’s data.
To better understand the requirements of their pets, pet owners, veterinarians, and others in the pet care industry can access this data. Another benefit of cloud computing is that it gives pet owners remote access to their pet’s data. This way, they can monitor their health and safety status even when they’re not there. Pet care startups are also leveraging the Internet of Things to create a more interconnected experience for pets. Internet of Things (IoT) gadgets, including tracking collars and smart feeders, allow pet owners to keep tabs on their pets’ whereabouts and activity, as well as give them the food and water they need. Pet owners can use this to keep in touch with their pets even when they’re not around. The pet care industry is utilizing blockchain technology to increase trust and transparency. Using this technology, pet owners can have greater control over the data stored securely and access it whenever they need it. This can guarantee that their pet’s information is not misused and provide them access to better services.
These changes are occurring at a dizzying rate, and the pet business is preparing for a nationwide explosion. Based on Drools’s projections, this industry is expected to reach $1.2 billion by 2028, rising at a rate of about 20% each year. Emerging patterns indicate plenty of space for expansion in both homes and hearts, even though pet ownership is still relatively low with only 10% of Indian households having a pet.
FAQs
How much revenue does the pet food segment contribute to the pet care industry?
Approximately 70% of India’s pet industry revenue comes from the pet food segment, making it one of the country’s most important economic drivers.
What are the latest technologies being used by the pet care industry?
The latest technologies used by the pet care industry include the Internet of Things (IoT), Blockchain Technology, and Cloud Computing.
What are the best pet care startups?
Heads Up for Tails, and Pawfect.xyz, Wiggles, and Just Dogs are a few top pet care startups.
Reading is often shared among millionaires and billionaires pursuing success and wealth. The business world and various industries are constantly evolving. Successful people understand the value of lifelong learning.
Books often provide a platform for shaping one’s mindset and attitude. Positive thinking, resilience, and a growth mindset can be reinforced through literature. This is why even the most brilliant entrepreneurial minds read books. Some of the most popular ones have been listed below.
The Fountainhead – Top Books Millionaires and Billionaires Read
Mark Cuban is one of the world’s most liberal-minded billionaires and is a massive fan of The Fountainhead by Ayn Rand.
The book’s protagonist, Howard Roark, is a young, uncompromising architect who rebels against social norms and refuses to give in to pressure from an institution that isn’t open to new ideas. Roark epitomizes what Rand saw as the ideal man, and his struggle reflects Rand’s opinion that individuality is better than collectivism. Ayn Rand stated that the central theme of The Fountainhead was “individualism versus collectivism, not in politics but within a man’s soul.“
Snow Crash
Book
Snow Crash
Author
Neal Stephenson
Goodreads Rating
4.02 out of 5
Snow Crash – Top Books Millionaires and Billionaires Read
Ev Williams, Larry Page, Sergey Brin, Tobi Lütke, Cameron Winklevoss, and Mark Zuckerberg have all recommended the science fiction book Snow Crash by Neal Stephenson.
In Snow Crash, the brainstem’s programming language is Sumerian, and all characters are personifications of computer and technological components. In a far-off future where technology has developed to the point where organic matter and mechanical parts have been combined, the book’s narrative depicts the impact of technological advances on our daily lives.
Another theme in the story examines how American culture runs and how it glorifies consumerism. The narrator points out that people are constantly attacked by advertisements promoting various items and that an average person can’t avoid them. Stephenson establishes the story following a financial crisis to examine cryptocurrencies and anarcho-capitalism.
Zero to One
Book
Zero to One
Author
Peter Thiel
Goodreads Rating
4.16 out of 5
Zero To One – Snow Crash – Top Books Millionaires and Billionaires Read
Elon Musk is the founder of SpaceX and Tesla and the owner of X (formerly Twitter). His recommendation for young and upcoming entrepreneurs is Zero to One by Peter Thiel. Thiel begins the book by asking a contrarian question: “What important truth do very few people agree with you on?” The intention is to encourage readers to recognize distinctive viewpoints essential for transformational innovation. He applies his experience with the ‘PayPal Mafia’ to investigate how close-knit organizations can grow into successful businesses. He believed that the culture of a corporation should, in some ways, be similar to a cult. Throughout the book, Peter Thiel encourages business owners to go after monopolies, question the current status quo, and concentrate on the last-mover advantage.
Principles
Book
Principles
Author
Ray Dalio
Goodreads Rating
4.12 out of 5
Principles – Top Books Millionaires and Billionaires Read
Andrew W. Houston and Jack Dorsey are two top American Internet Entrepreneurs who recommend Principles by Ray Dalio. Ray Dalio is an American billionaire, hedge fund manager, and philanthropist. He is the co-founder, chairman, and chief investment officer of Bridgewater Associates, one of the world’s most significant hedge funds. This book is divided into three sections: Work Principles, Life Principles, and a thorough description of Dalio’s personal experience. Dalio discusses approximately five hundred high-level, mid-level, and sub-level concepts in his book.
Antifragile
Book
Antifragile
Author
Nassim Nicholas Taleb
Goodreads Rating
4.10 out of 5
Antifragile – Top Books Millionaires and Billionaires Read
Vinod Khosla is an Indian-American entrepreneur and venture capitalist. He is a co-founder of Sun Microsystems and the creator of Khosla Ventures. Antifragile by Nassim Nicholas Taleb is a thought-provoking book that delves into the concept of antifragility. According to Taleb, most individuals, groups, and systems are inherently fragile and depend on comparatively high degrees of predictability and stability to prevent collapsing. In contrast, antifragile systems are designed to flourish in unstable and unpredictable situations.
The Ride of a Lifetime
Book
The Ride of a Lifetime
Author
Robert Iger
Goodreads Rating
4.42 out of 5
The Ride Of A Lifetime – Top Books Millionaires and Billionaires Read
Bill Gates is known not to be a fan of the typical leadership books as he believes they are unrealistic or impractical. However, the one book that he considers to be excellent enough to make an exception is The Ride of a Lifetime by Robert Iger.
The Ride of A Lifetime depicts Robert’s rise to the position of CEO of Disney and illustrates how his vision, tactics, and direction helped the business survive through a period of challenging conditions. Robert Iger’s career has been defined by taking chances and taking calculated risks. Having met an ABC executive by accident, he entered the TV business and helped establish the company’s entertainment and sports sections. After joining Disney and surviving the company’s worst downturn, he worked his way up the corporate ladder to become CEO in 2005.
How Bill Gates Reads Books
High Output Management
Book
High Output Management
Author
Andrew Grove
Goodreads Rating
4.31 out of 5
High Output Management -Top Books Millionaires and Billionaires Read
High Output Management by Andrew Grove has been recommended by nine entrepreneurs, including Brian Armstrong, Brian Chesky, Larry Ellison, and Ron Conway. This book will introduce you to the fundamentals of management.
Andrew shares many of the managerial techniques that helped him turn Intel into the world’s biggest semiconductor manufacturer. He served as Intel‘s CEO and Chairman during the company’s rapid expansion. He teaches you how to use concepts in situations such as team management, self-management, the nature of the production process, running successful meetings, recruiting, and much more. Andy also recommends that businesses start with the longest, most difficult step and work their way backward. He also believes that production process issues should be resolved at a cost that is as low as possible.
The Remains of the Day
Book
The Remains of the Day
Author
Kazuo Ishiguro
Goodreads Rating
4.14 out of 5
The Remains Of The Day – Top Books Millionaires and Billionaires Read
Jeffrey Bezos is an American entrepreneur, media owner, and investor. He is the founder, executive chairman, and former CEO of Amazon, the world’s biggest cloud computing and e-commerce corporation. His number one recommendation is Kazuo Ishiguro’s The Remains of the Day.
The Remains of the Day is the narrative of Stevens, a middle-aged English butler who worked at Darlington Hall from the 1920s to 1956. Stevens has never had the opportunity to reflect on his history, but the time off that he receives from his vacation causes him to do so. The novel’s flashback style helps Stevens criticize himself for devoting so much of his time to revisiting memories that he cannot change. Dignity and greatness are also discussed throughout the novel in a broader sense, with the author suggesting that they do not have rigid definitions.
Only the Paranoid Survive
Book
Only the Paranoid Survive
Author
Andrew Grove
Goodreads Rating
3.97 out of 5
Only The Paranoid Survive – Top Books Millionaires and Billionaires Read
Only The Paranoid Survive by Andrew Grove is a book that has been read and recommended by Bill Gates, Steve Jobs, Vinod Khosla, and Jamie Dimon. Grove draws on his expertise as Intel’s CEO to provide clear advice on planning for, identifying, and responding to the types of upheavals that drive less adaptable organizations out of business. It is a must-read for everyone hoping to succeed in today’s fast-paced business world as a timeless guide to adaptability and success in the face of constant change. He also presents practical tools and ideas to help the next generation of corporate descendants stay competitive.
The Hard Thing About Hard Things
Book
The Hard Thing About Hard Things
Author
Ben Horowitz
Goodreads Rating
4.22 out of 5
The Hard Thing About Hard Things – Top Books Millionaires and Billionaires Read
The Hard Thing About Hard Things by Ben Horowitz is a book that has been favored by seven highly renowned entrepreneurs, including Google co-founder Larry Page and Meta’s Mark Zuckerberg.
In The Hard Things About Hard Things, Ben discusses his experience leading startups and businesses through good and bad times. It discusses decision-making, hiring and firing, developing culture, and dealing with failure. Horowitz offers both particular and general guidance on how to build a successful business while being true to one’s principles. Hard things can be difficult, but they are an unavoidable part of life and needed for growth. Taking care of your physical, mental, and emotional health is necessary for remaining focused and motivated throughout these difficult times.
The Intelligent Investor
Book
The Intelligent Investor
Author
Benjamin Graham
Goodreads Rating
4.25 out of 5
The Intelligent Investor – Top Books Millionaires and Billionaires Read
Berkshire Hathaway owner Warren Buffet says The Intelligent Investor changed his life and recommends reading two chapters from the book in particular- Chapter 8 and Chapter 20. Benjamin Graham’s book The Intelligent Investor is regarded as one of the most influential works on value investing. This book won’t show you how to outperform the market. Instead, it gives you three significant lessons.
Graham covers the unavoidable nature of market fluctuations and the emotional challenges investors face during volatile periods. The analytic sections of the book adapt Graham’s principles to contemporary market conditions and offer up-to-date analysis. He also strongly supports investing with a margin of safety or when the price is significantly lower than the predicted intrinsic value.
What book does Elon Musk recommend for aspiring entrepreneurs, and what is the main idea?
Elon Musk recommends “Zero to One” by Peter Thiel. The book encourages readers to identify unique and valuable ideas for starting businesses and to focus on building strong company cultures.
What is the concept of “Antifragility” discussed in a book recommended by Vinod Khosla?
Vinod Khosla recommends “Antifragile” by Nassim Nicholas Taleb. The book explores the idea of systems that benefit from volatility and uncertainty, rather than just surviving it.
What life-changing book does Warren Buffett recommend for investors?
Warren Buffett highly recommends “The Intelligent Investor” by Benjamin Graham. The book focuses on value investing principles and avoiding emotional decisions during market fluctuations.
New Delhi (India), March 16: opositive.io, the center of excellence for search, made a powerful impression at TiEcon’24, India’s largest startup event held on the 8th and 9th of March. As a coveted exhibitor, opositive.io showcased its expertise in helping brands achieve ad-free, sustainable growth through its three core pillars: Visibility, Foundation, and Validation.
Unveiling the Power of Ad-Free Growth
opositive.io offered a unique perspective at TiEcon’24. O+ve team of growth experts- Armaan Jain (Product and Brand Lead), Nikita Ameta (Growth Architect), Madhvi Chauhan (Growth Manager), and Nitesh Yadav (Sr. Business Manager) empowered over 550 industry leaders with actionable strategies to achieve long-term Ad-free success.
A Suite of Solutions for Every Stage
opositive.io impressed attendees with its comprehensive solutions. Brands can leverage:
One of opositive.io’s major highlights was their in-house tool, Studio+. This powerful tool empowers businesses to visualize and analyze a staggering 100,000 data points on a single, user-friendly dashboard. Studio+, valued at $1500, was offered as an exclusive perk to TiEcon attendees.
A Revolutionary Launch: SCRUB+
opositive.io unveiled its groundbreaking product, SCRUB+, at TiEcon’24. This innovative solution empowers brands to manage their digital reputation and improve their Desired Digital Truth (DDT) score using its effective 4D model (Delete, Demote, Debate, Develop).
A Memorable TiEcon’24
The opositive.io team made a significant impact at TiEcon’24:
15+ brands joined the opositive.io family, eager to embrace ad-free growth strategies.
Over 350 curious founders connected with the team to explore ad-free growth and access exclusive O+ Perks.
Ravi Soni, co-founder of opositive.io, sparked engaging conversations during the D2C Dialogues, delving into topics such as funding, growth hacking strategies, managing risks, and leveraging AI and technology for sustainable growth. Joined by D2C founders like Neha Kant of Clovia, Pankaj Garg of Daily Objects, and Ayushi Gudwani of FableStreet, Soni’s participation brought valuable insights to the forefront.
A Resounding Success
TiEcon’24 proved to be a resounding success for opositive.io. The company’s commitment to ad-free, sustainable growth resonated with industry leaders and entrepreneurs alike. opositive.io is poised to continue empowering brands on their journeys to long-term success.
About Opositive.io
Opositive.io is a leading center of excellence for search, dedicated to helping brands achieve sustained, ad-free growth. With a comprehensive suite of tools and services designed to enhance visibility, build a solid foundation, and validate brand strength, Opositive.io is at the forefront of transforming digital marketing strategies for a future free from ad dependency.
New Delhi (India), March 15: In a significant development in the realm of pilgrimage travel, Tripojee India Pvt Ltd has emerged as a leading specialist in organizing Chardham Yatra, catering to a diverse global clientele. Established in 2018, the company has rapidly gained recognition for its unparalleled expertise and commitment to providing enriching travel experiences.
The Chardham Yatra, comprising the sacred sites of Yamunotri, Gangotri, Kedarnath, and Badrinath, holds immense significance in Hindu mythology. It is believed that undertaking this pilgrimage cleanses one’s soul of all sins and opens the doors to salvation. Each destination along the Chardham route is associated with profound spiritual experiences and offers devotees an opportunity for self-reflection and enlightenment.
Under the visionary leadership of Director Roushan Kumar, Tripojee has solidified its position as a trusted name in the industry. With years of experience in crafting tailor-made journeys, the company aims to redefine the standards of pilgrimage tourism.
Recognizing the unique requirements of pilgrims from Maharashtra and Gujarat, Tripojee offers bespoke Chardham Yatra packages tailored to their preferences. From ensuring comfortable accommodations to arranging seamless travel logistics, the company goes above and beyond to guarantee a fulfilling journey for every traveler.
What sets Tripojee apart is its unwavering focus on the Chardham Yatra pilgrimage. Leveraging their in-depth knowledge and understanding of this sacred journey, they ensure a smooth and spiritually enriching experience for all participants.
Moreover, Tripojee manages its own chain of hotels, providing pilgrims with exclusive access to comfortable stays at strategic locations along the pilgrimage route. This proprietary accommodation adds an extra layer of convenience and reliability to the overall travel experience.
In a strategic move to expand their reach and offerings, Tripojee has forged strong B2B partnerships with other travel companies. This collaborative approach not only enhances their market presence but also allows them to offer a wider range of services to their clients.
One of the most attractive aspects of Tripojee’s offerings is its competitive pricing. With their Chardham Yatra package priced at just ₹18,999, the company ensures that pilgrims can embark on this sacred journey without stretching their budgets.
Looking ahead, Tripojee envisions itself as a comprehensive travel solutions provider, catering to the diverse needs and aspirations of travelers worldwide. Whether it’s a spiritual pilgrimage or an adventurous escapade, Tripojee aims to be the go-to destination for all travel enthusiasts.
For those ready to embark on their Chardham Yatra journey, Tripojee invites you to visit their website, http://www.tripojee.com, or reach out to them (+91 120- 4543990/9643887788 ) to plan your spiritual odyssey.
The name Adidas is instantly recognizable to the vast majority of people on the planet. This German brand has widespread support among athletes. This brand has grown into a trillion-dollar behemoth because of its strong web presence and worldwide store presence. Nevertheless, it recently ended its 30-year successful run with a massive loss and issued a warning that sales in North America would decline once more due to sportswear retailers’ struggles with huge inventories. After severing relations with Kanye West in October 2022 and halting sales of the wildly successful Yeezy sneaker line, Adidas has been fighting to get back on its feet.
The move made in October 2022 had a devastating effect on the company’s finances, particularly on sales of the wildly popular Yeezy shoe line. The fallout from this split shows how challenging it is to maintain prominent partnerships in the dynamic fashion industry.
Bjorn Gulden Pushing Hard to Repair the Business Dent
In the middle of all the chaos, Bjorn Gulden, Adidas’ CEO, stepped up to the plate and faced the enormous challenge of getting the company back on track. During his first year on the job, Gulden took calculated steps to deal with the aftermath of Kanye West’s split.
To move existing inventory, Yeezy sneaker sales have resumed, and the brand is also making strides to revitalize its other popular shoe lines, such as the Gazelle and Samba. Adidas stock has been on the upswing since Gulden took over as CEO, surpassing rivals like Puma and Nike, demonstrating that his leadership is making an impact despite the challenges.
North America Continued to Be a Bleak Market for the Brand
Although the company is making a lot of efforts to get the business on track, however, the brand feels that North America’s market will continue to be a weak selling zone. The North American market continues to be a challenge for Adidas, despite Gulden’s best efforts. Forecasts indicate that sales in the region will keep falling, with a 5% drop for this year alone.
Overstocked stores and falling customer demand are the two main causes of this problem, which has affected athletic and apparel businesses around the country. The gravity of the situation was highlighted by Adidas’ shocking 21% decline in North American sales during the final quarter of 2023.
Adidas’ strategy has included an emphasis on inventory management, which stands apart. In 2023, the corporation successfully decreased inventories by 1.5 billion euros, which is a 24% fall. Sales at outlet stores, which helped clear off surplus inventory, were mostly responsible for this cut. Nevertheless, the Red Sea crisis caused more problems for Adidas by delaying shipments, which created logistical issues and may have affected working capital.
Adidas is nevertheless hell-bent on reclaiming lost ground in the market and expanding its business, despite the losses. With the Yeezy line excluded, the company’s underlying business is expected to rebound and increase by at least 10% in the second half of the year, according to projections. The Samba and Gazelle are two examples of popular low-rise suede ‘terrace’ trainers that have helped boost sales of footwear and sparked consumer optimism.
Way Forward
Adidas’ current problems illustrate the complex dynamics of the sportswear industry, where brand collaborations, market movements, and disruptions in the supply chain can significantly affect financial results. Under Bjorn Gulden’s leadership, however, the company has shown resilience and determination by overcoming these challenges. By continuing to innovate, recover from market downturns, and provide value to shareholders, Adidas is solidifying its position as a world leader in the sportswear industry.
India’s leading digital commerce entity Flipkart is working to venture into the fast-paced world of quick commerce to meet the burgeoning demand for rapid delivery of everyday essentials.
Flipkart has recently unveiled its latest initiative of same-day delivery service now available in 20 major Indian cities.
This strategic move underscores Flipkart’s unwavering dedication to elevating customer satisfaction, and convenience and to revolutionize the eCommerce landscape.
“We are committed to meeting evolving customer expectations and delivering excellence in value, selection, and speed, with more initiatives expected on this front in the coming months,” Walmart-backed Flipkart said in a statement.
This new initiative of same-day delivery will be for customers across cities including Ahmedabad, Bangalore, Bhubaneshwar, Coimbatore, Chennai, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Nagpur, Pune, Patna, Raipur, Siliguri and Vijayawada.
It would cover products like mobiles, essential items, electronics, home appliances, fashion, books, and lifestyle goods. The customers will get their products delivered before midnight if they place their orders by 1 pm without any extra charge.
Flipkart’s introduction of same-day delivery service represents a significant advancement in the Indian eCommerce market.
“We have invested in cutting-edge technologies, leveraged data analytics, and harnessed insights on demand patterns to ensure that we are well-equipped to anticipate and fulfill demand the very same day. I must acknowledge the hard work and dedication of our teams who have tirelessly contributed to making this vision a reality,” said Hemant Badri, Senior Vice President, Head of Supply Chain, Customer Experience & ReCommerce Business, Flipkart Group.
In the past year, quick commerce has surged into a billion-dollar industry with platforms like Blinkit, Zepto, and Swiggy Instamart poised to exceed USD 1 billion in revenue in the financial year 2023-24.
The surge in quick commerce has captured Flipkart’s interest, prompting the eCommerce giant to enhance its emphasis on the grocery sector.
As quick commerce constitutes approximately 40% of online grocery delivery, it is increasingly fueling growth. Flipkart’s renewed focus on grocery aligns with a broader transition away from conventional eCommerce models centered on sales and discounts.
As of now, these apps are providing quick commerce to consumers in major Indian cities:
Blinkit
Swiggy Instamart
Zepto
Started operations in
January 2022
August 2020
April 2021
Revenue as of FY 2023 (in Rs crore)
724
3221
2024
Revenue as of FY 2022 (in Rs crore)
236
2036
142
Funds raised for quick commerce (in U.S.$ million) US$ 1 mn = Rs 8.2 cr
569
700
361
Current market share (in %)
40%
37-39%
20%
It’s essential to acknowledge how its rivals have also expanded into quick commerce to meet evolving customer demands.
Here’s how some of Flipkart’s competitors have ventured into quick commerce:
Amazon India
Amazon has been a key player in the Indian eCommerce sector, and it has also delved into quick commerce to enhance its delivery capabilities. The company offers Amazon Prime Now, which provides ultra-fast delivery of essentials, groceries, electronics, and more within a few hours.
Reliance Retail
Reliance Retail, through its digital arm JioMart, has been rapidly expanding its presence in the e-commerce space. Leveraging Reliance’s extensive network of physical stores and warehouses, JioMart offers quick delivery of groceries, household essentials, and other daily items.
BigBasket
As a leading online grocery platform in India, BigBasket has capitalized on the growing demand for quick delivery of essential items. The company offers express delivery services for groceries and household essentials, ensuring that customers receive their orders within a few hours. BigBasket has the quick commerce feature BB Now too to get groceries delivered in 15-30 minutes.
Blinkit
Grofers now Blinkit has rebranded itself to reflect its commitment to rapid delivery. With its extensive network of local partners and warehouses, Blinkit ensures that customers receive orders within a few minutes, making grocery shopping seamless.
Blinkit has begun selling home appliances, puja essentials, Eid special offerings like prayer mats, thobe kurte, ‘sehri’ and ‘iftar’ needs, ‘Holi’ needs, sweets, colors, thandai, bakery items, meats, seafood, cosmetics, mobiles and accessories, electronics, baby care products and much more.
Swiggy and Zomato
While primarily known for their food delivery services, Swiggy and Zomato have also entered the quick commerce space by offering delivery of groceries, medicines, and other essential items.
Zepto
Zepto is also the name of a quick commerce platform that enables businesses to offer fast delivery services for groceries, bakery products, kitchen essentials, paan corner (betel leaf), tobacco, health and hygiene, toiletries, clothing, and other essentials. Zepto provides tools and infrastructure to facilitate within minutes delivery of goods to customers’ doorsteps.
Dunzo
Dunzo has become synonymous with hyperlocal delivery, with its Daily service taking it a step further by guaranteeing delivery within 19 minutes. From groceries to medicines to food from nearby localities to letters to clothes from the nearest boutique, Dunzo Daily fulfills all your daily needs with lightning speed.
While Flipkart maintains a strong foothold in the market, achieving revenue growth poses a continual challenge. With the emergence of competitors such as Zepto and Blinkit, there is a critical need for Flipkart to establish itself within the quick commerce sector.
As per media reports, Flipkart is also weighing options to expand into quick commerce with the introduction of dark stores. Dark stores are like mini warehouses designed for online orders.
Flipkart is also planning to buy Dunzo Daily. Despite having raised approximately USD 500 million in funding, Dunzo has struggled to secure additional investment and meet its staff payroll.
The hyperlocal delivery company has lost ground to newer competitors like Zepto, Swiggy, and Zomato’s Blinkit, leading to a drop in its market position.
Flipkart, valued at over USD 32 billion, is considering buying Dunzo, known for its local delivery skills. This move could be smart, but talks might take a while because Dunzo has ties to Reliance Retail, its main investor owning a 26% share.
Flipkart wants to be careful about what it buys, especially considering Dunzo’s connections, according to an article published by Business Insights Now on February 23.
The prospects of quick commerce, including Flipkart’s role, are exceptionally promising, driven by evolving consumer preferences, technological advancements, and market dynamics.
Flipkart, along with other quick commerce platforms, will capitalize on increasing smartphone penetration, internet connectivity, and digital payment systems to broaden its reach across diverse demographics and geographic regions.
By 2028, it is anticipated that the number of users in the quick commerce market in India will reach 56.4 million users. The user penetration rate, which currently stands at 1.8% in 2024, is projected to rise to 3.8% by 2028.
Meanwhile, the quick commerce market in India is anticipated to reach a revenue of USD 3.3 billion in 2024, with a projected compound annual growth rate (CAGR 2024-2028) of 27.42%. This growth trajectory is expected to propel the market volume to USD 8.8 billion by 2028.
Revenue of Quick Commerce Market in India
Conclusion
In summary, Flipkart’s expansion of its same-day delivery service epitomizes its dedication to setting new benchmarks of excellence in the eCommerce arena.
With a focus on speed, convenience, and customer satisfaction, Flipkart reaffirms its position as a trailblazer in India’s digital commerce revolution.
As the quick commerce market continues to evolve and expand, Flipkart’s strategic initiatives and dedication to customer satisfaction will shape its trajectory in the years to come.
The future holds endless possibilities, and Flipkart stands ready to embrace the opportunities that lie ahead, driving forward the evolution of online retail.
“Many believe Amazon and Walmart-owned Flipkart will continue to dominate the future of Indian eCommerce. In my humble opinion, I would not bet against the hometown teams at Zepto and Zomato,” said a LinkedIn post by Paul Hudson, Founder and CIO, of Glade Brook Capital.
Glade Brook Capital, which supported Zepto in Mumbai last year, also invested in Zomato’s parent company, Blinkit, back in 2019.
FAQs
In how many cities will Flipkart provide the same-day delivery service?
Flipkart will provide same-day delivery service in 20 major Indian cities including Ahmedabad, Bangalore, Bhubaneshwar, Coimbatore, Chennai, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Nagpur, Pune, Patna, Raipur, Siliguri and Vijayawada.
What will be the revenue of the quick commerce market in India in 2024?
The quick commerce market in India is anticipated to reach a revenue of USD 3.3 billion in 2024, with a projected compound annual growth rate (CAGR 2024-2028) of 27.42%. This growth trajectory is expected to propel the market volume to USD 8.8 billion by 2028.
Who are the competitors of Flipkart in the field of quick commerce?
The competitors of Flipkart in quick commerce include Dunzo, Amazon India, Reliance Retail, BigBasket, Blinkit, Zepto, Zomato, and Swiggy.
Dubai, [14/03/2024]: VAP Group is proud to announce the launch of the Global Blockchain Awards, honoring the brightest minds and boldest innovators in the Web3 space. Set against the backdrop of the esteemed Global Blockchain Show, this exclusive awards ceremony will take place on April 15, 2024, at the Grand Hyatt Dubai, preceding the main event scheduled for April 16th and 17th.
As a highlight of Dubai’s bustling blockchain scene, the Global Blockchain Awards promise to be an unforgettable night celebrating the outstanding contributions of global Web3 leaders. Entrepreneurs, organizations, startups, and Web3 experts who have championed disruptive ideas are invited to nominate themselves for these prestigious accolades.
Nominations are now open and can be submitted through the official Global Blockchain Show website: https://www.globalblockchainshow.com/awards/. The nomination period closes on March 17, 2024, so act fast to secure your spot in this prestigious event!
With 20 categories and award titles, including “Best Blockchain Game of the Year,” “Best Crypto Media Award,” “Blockchain Visionary Award,” and most intriguing “Metaverse Marvel Award,” there’s ample opportunity for all Web3 enthusiasts to showcase their innovations.
Vishal Parmar, organizer of the awards show, invites Web3 Mavericks to join in this celebration of innovation. Parmar remarks, “Honoring the Web3 changemakers not only recognizes their achievements but also fosters global dissemination of ideas and innovations through the Global Blockchain Awards ceremony.”
Following the nomination period, online voting for each category will commence on March 18, 2024, and close on April 7, 2024. The winners will be announced during the awards ceremony, attended by hundreds of industry professionals, and covered by over 100 media publications across the region and internationally.
We are proud to announce that the Global Blockchain Awards are sponsored by VAP Group, a leading consulting firm in the blockchain ecosystem. Don’t miss your chance to be part of this historic event at the Global Blockchain Show 2024, our inaugural blockchain event.
About VAP Group
VAP Group, an industry leader with over a decade of expertise in Web3 and Blockchain solutions, continues to revolutionize the landscape of digital innovation. Established in 2013, VAP Group has consistently delivered premium services including public relations, advertising, recruitment, content development, media, and management. Led by Mr. Vishal Parmar, the Founder and Chief Executive Officer, VAP Group stands at the forefront of innovation, shaping the future of blockchain technology. Under his mentorship, the company has focused on pioneering strategies in PR marketing, influencer marketing, bounty campaigns, conferences, and campaigns, setting new benchmarks in the industry.
What truly sets VAP Group apart is its dedication to creativity, uniqueness, and holistic solutions. By adopting an innovative and forward-thinking approach, VAP Group has distinguished itself as a beacon of innovation amidst the competitive landscape of blockchain consultancy.
VAP Group is the organizer of the Global Blockchain Show and Global AI Show, extraordinary platforms poised to redefine the landscape of blockchain and AI technology respectively, offering dynamic gatherings where the brightest minds converge to unlock the potential of these transformative technologies.
Our most loved festival is around the corner. Holi, the festival that brings smiles all around and splashes our bodies and minds with the freshest colours of the spring, is here now. Hence, the very first thing that comes to our mind is to shop and rock around. We were truly downright dejected being locked indoors in the wake of the COVID-19 pandemic, but with the start of 2022, things are appearing to be a bit more stable than they were before. However, we are all bound to maintain proper protocols and play the Holi safe this year.
With high spirits and merriment to welcome this beautiful festival, we are more likely encouraged to shop across all channels. This time is best suited for e-commerce companies to expand and experiment with their product range.
Therefore, to start earning passive income, every online entrepreneur’s dream is to find the best Holi items or the home-run products that sell out during this time. So, we will go over the top trending products to sell online. The trending products on this list have some of the highest gross merchandise value and are regarded as the best items in Holi. They have thus also been sourced by Flipkart, Myntra, Amazon, and many online platforms during this time.
Now, getting into the details of the top-selling products during Holi, let us first understand the basic requirements.
Make safe delivery a priority
Clean packaging
Identify potential hazards and evaluate the risks
Be particular about choosing the right product for sale
Ensure that your products meet customer requirements
While people mostly want to celebrate and buy anything that they like, few products sell better than others during this period. Let us look at the most popular products during Holi.
Herbal Colors
Holi Herbal Colour – Best Holi Products
When we think of Holi, we think of colours. However, all we have got in the name of colours in markets are hard chemicals like rubber and plastic. People nowadays are way smarter than before, and they know well what to purchase and what not to. This is why more and more people are rejecting the earlier colours and their brands and instead choosing herbal or organic colours. Hence, selling natural colours will be a boon for your business strategy. This way, you can also contribute a lot to the environment. These colours are eco-friendly and chemical-free products that are sustainable for us and our planet.
Who doesn’t like to look colourful in Holi? Most of us like right? But what about the stained clothes that can’t be worn again? Pathetic is their fate, is it?
No, because we have stain removal detergents like Surf Excel, Tide, Vanish and other products manufactured by Hindustan Unilever and other companies. These will be in high demand during the festival of Holi. Assume your customers spill colours all over their clothes, but with the assurance of your products, they can stay away from the discomfort of stain-repellant clothes.
Skincare & Haircare Products
Skincare Products – Best Holi Products
The daily skincare routine can be interrupted by the festival of Holi. Unless we are using herbal colours, other Holi colours expose our skin to harsh chemicals, thereby leaving harsh effects on our skin. The same damage might happen to our hair as well. In such a case, skincare and haircare products are an absolute match. Products such as cleansers, lotions, hair oil, and lip balms will thus be in high demand before the upcoming festival.
How beautiful would it be to capture the colourful waters right through them and from the midst of the activities? So, to enjoy all of the fun of the Holi celebrations, you would probably want to pick up waterproof gadgets. This is why selling products in this category can be a big hit.
Products like waterproof mobile cases, waterproof watches/fitness bands, waterproof Bluetooth speakers, GoPro cameras, waterproof camera pouches, waterproof earphones, and many more can be included in the list. Let your customers enjoy a colourful Holi and pack in all these electronic gadgets that are happy even with water all over them.
Holi Gift Hampers
Holi Gift Hamper – Best Holi Products
Holi, being an ancient festival, is deeply rooted in traditions. Now, as the tradition goes, gifting in Holi is counted as a blessing. Also, gifting your dear ones has been a trend for many. Hence, selling gift hampers right before the festival is surely going to attract a huge crowd. These hampers can range from new clothes to Holi balloons, chocolates, sweets, namkeens, and more to go with the festive vibes.
Water Gun or Pichkari
Water Gun or Pichkari – Best Holi Products
Do you have fond memories of those hot summer months when you and your friends would play for hours on end, trying to beat the heat with Pichkari water guns? If you want to give your loved ones the same kind of joy and excitement, consider getting them the Water Blaster Gun, one of the best Holi products made of high-quality plastic. With its sturdy construction and powerful water stream, this toy is sure to provide hours of fun and entertainment.
Sweets/Chocolates
Sweets/Chocolates – Best Holi Products
Holi, the festival of colours, is a time of joy, friendship, and togetherness. And what better way to celebrate this colourful festival than by indulging in a box of delicious sweets and gujias? These mouth-watering delicacies are an essential part of Holi celebrations, and it’s hard to imagine the festival without them. If you’re looking to share the spirit of this vibrant festival with your friends and loved ones, gifting them a box of sweets and gujias is the perfect way to do it. These treats are not only delicious but also carry the essence of the festival in them. Apart from sweets and gujias, dry fruits are also highly in demand as a gift during Holi. These healthy and nutritious snacks are a popular choice among gift-givers and receivers alike.
Are you gearing up for a water balloon fight but don’t have the time to prepare balloons manually? Look no further than the Magic Water Balloon Maker! This nifty device can produce up to 100 water balloons in just 60 seconds, ensuring that you have plenty of ammunition for your water balloon fight. With the Magic Water Balloon Maker, you can quickly and easily arm yourself for some summertime fun without any hassle.
Conclusion
Now, once you have decided on the products that you would like to drop off at your online store for the users, the final outcome is to decide on a fast and reliable shipping and logistics partner. Just take a move ahead wisely, and it will be all set.
FAQs
Why is Holi celebrated in short?
Holi is celebrated to signify the coming of spring, the season of love and new life, and the victory of good over evil. This festival dates back to the immortal romance of Radhe-Krishna and celebrates their love. Furthermore, it also marks the victory of Lord Vishnu as Narasimha Avatar over Hiranyakashipu.
What are the traditions of Holi?
Holi traditions include bonfires, colourful powders called gulals, sweets, colours, dance to traditional folk music, and more to celebrate the resonating joy of the season and the love that is in the air during Spring.
How many days is Holi celebrated in India?
Holi is celebrated for two days in India.
What are some Holi business ideas?
If you are wondering how to set up a Holi business, then here are some of the best ideas to set up your business for Holi:
Fast food/snack stall
Colours and accessories stall
Sweets shop
Gift corner
Event management business
Flowers stall
Catering business
What are the best Holi items?
Holi is a festival of colours, so the list of the best items for Holi is not devoid of colours. Here are some more items that are in demand during Holi:
Holi accessories like balloons, water guns, and other decorative items
Investing is allocating capital, or money, to projects or ventures expected to profit in the long run. The type of project or asset determines the kind of returns generated. Risk and return are two sides of the same coin in investing; low risk typically implies low predicted returns, whereas more significant gains are frequently associated with higher risk.
There are many different kinds of investments to consider. The most popular ones are mutual funds, stocks, bonds, and real estate. Investing is for more than just wealthy people. You can start with a modest, nominal sum.
Financial literacy is the first step toward successful do-it-yourself investing. Understanding financial markets, investment instruments, risk management, and diverse investment techniques is essential. Books can serve as valuable educational resources here.
Every investor is different, and investment books advise readers to consider their financial objectives, willingness to take risks and time horizon. In this article, we will look at the top books for new investors that will help them comprehend the financial world.
The Only Investment Guide You’ll Ever Need – Top Investing Books
Andrew Tobias presents readers with a comprehensive handbook that covers a wide range of financial topics, from basic investment principles to retirement planning and tax techniques. He simplifies complex investment ideas so that readers with different degrees of financial literacy can also grasp them. With details concerning mortgages, home equity, and real estate, the book even addresses the benefits and downsides of homeownership. It helps you navigate the complexities of personal finance and create a financially stable future.
Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life
Book
Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life
Author
William Green
Goodreads Rating
4.54 out of 5
Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life – Top Investing Books
William Green is a well-known financial writer for publications like The New Yorker, Fortune, Time, and Forbes. “Richer, Wiser, Happier” examines eight successful investors and presents timeless insights on what made them successful. Warren Buffett, Charlie Munger, Jack Bogle, Ed Thorp, Will Danoff, Mohnish Pabrai, Joel Greenblatt, and Howard Marks are among those on the list.
Some of the similar themes among the investors interviewed for the book include a focus on:
What matters most to them and what they thrive at
Continuous learning
Independence, intelligence, flexibility, and simplicity
Being patient when making investments
The Most Important Thing: Uncommon Sense for the Thoughtful Investor
Book
The Most Important Thing: Uncommon Sense for the Thoughtful Investor
Author
Howard Marks
Goodreads Rating
4.32 out of 5
The Most Important Thing: Uncommon Sense for the Thoughtful Investor – Top Investing Books
Howard Marks‘ The Most Important Thing goes into the principles of successful investing, emphasizing unconventional knowledge. Marks offers insights drawn from his substantial expertise in the financial markets. The book is organized into 21 sections that Howard Marks has identified as “The Most Important Thing” at some point, making it a clear and expert resource for all investors.
The book goes into market cycle dynamics and the significance of understanding where the market is in its cycle. Only then can you, as investors, change your strategy accordingly. Marks presents the idea of “second-level thinking.” This is a systematic and proactive process in which investors thoroughly assess their options to make the best long-term decisions.
Clever Girl Finance: Learn How Investing Works, Grow Your Money
Book
Clever Girl Finance: Learn How Investing Works, Grow Your Money
Author
Bola Sukunbi
Goodreads Rating
4.20 out of 5
Clever Girl Finance: Learn How Investing Works, Grow Your Money – Top Investing Books
To empower women to build a financial strategy that works for them, Clever Girl Financing attempts to simplify investing for them. Readers will learn about the fundamentals of investing from the book, like the value of diversification and many investment varieties.
Sukunbi offers advice on examining investments and choosing the best broker. Spending less than you make and investing the difference to generate income over time is essential. Stay away from any lifestyle inflation. The only things that you need to concentrate on are saving and investing money.
Got Good Financial Goals? Examples of Financial Goals
Broke Millennial Takes on Investing: A Beginner’s Guide to Leveling Up Your Money
Book
Broke Millennial Takes on Investing: A Beginner’s Guide to Leveling Up Your Money
Author
Erin Lowry
Goodreads Rating
3.94 out of 5
Broke Millennial Takes on Investing: A Beginner’s Guide to Leveling Up Your Journey – Top Investing Books
For millennials who are intimidated by the financial world, this book attempts to serve as an in-depth investing guide. It tackles the important topic of whether investing and student debt repayment are mutually exclusive, offering suggestions on managing these simultaneous goals. With the growth of fintech, the book also includes information on robo-advisors and investing applications, assisting readers in determining which are trustworthy and efficient.
The White Coat Investor
Book
The White Coat Investor
Author
James M. Dahle, MD
Goodreads Rating
4.41 out of 5
The White Coat Investor – Top Investing Books
The White Coat Investor is a financial guide designed exclusively for medical professionals’ unique demands and issues. Dr. Dahle discusses a wide range of topics, including budgeting, debt management, insurance, and investing techniques. Considering that many medical professionals earn substantial incomes, the work provides insights into tax-efficient methods to reduce their tax burdens and maximize wealth. This wealth can additionally be helpful for retirement planning.
The Elements of Investing
Book
The Elements of Investing
Author
Burton G. Malkiel , Charles D. Ellis
Goodreads Rating
4.07 out of 5
The Elements of Investing – Top Investing Books
Daring beyond belief, Ellis and Malkiel wrote this book after imagining their own Little Red Schoolhouse investing course for all investors worldwide. The Elements of Investing targets the excessive trading and overanalysis that characterize the typical investor’s frenzied mental processes. The authors highlight the need for rebalancing or periodically modifying investment allocation to maintain a desirable asset mix. They also advocate for index investing, which entails investing in a diversified portfolio that follows a specific market index. The book helps you make informed decisions and achieve long-term financial success.
Conclusion
In summary, entering the investing world requires knowledge, self-control, and a dedication to lifelong study. These beginner’s investing books are your road maps to the fascinating world of making money that works for you.
Rishabh Rathi
