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  • SEBI Plans Rules for Unregistered Finfluencers: Crackdown on Evasive Advice

    Hey everyone! Do you know those cool finance folks on Instagram and YouTube who give investment tips and talk about making big money? Well, they may be getting regulated by the market regulator Securities and Exchange Board of India soon!

    The Securities and Exchange Board of India (SEBI), the big boss of stock markets in India, is thinking about setting up some rules to follow and guidelines for these finance influencers, or “finfluencers” as they’re called. 

    “The Securities and Exchange Board of India (SEBI) is contemplating guidelines to rein in finfluencers’ activities,” SEBI chairperson Madhabi Puri Buch said on March 11 at an event in Mumbai.

    How to Define ‘Finfluencers’
    What These Guidelines May Include?
    But Wait, Why Is This Such a Big Deal?
    Public Comments
    Background: The Rise of Finfluencers
    Limiting Association: SEBI’s Proposed Measures
    Challenges

    How to Define ‘Finfluencers’

    Industry experts are of the view that this move will bring transparency and accountability in the financial services space, but it would be tough for the regulatory body to define the term ‘finfluencers’ as per guidelines.

    “SEBI might face several problems in defining the scope of a ‘finfluencer’ and the nature of financial advice. Additionally, proving intent to mislead can be complex,” Rest The Case Founder Shreya Sharma told StartupTalky.

    Sharma heads an online platform, Rest The Case, that acts as a legal aggregator, providing seamless connections between lawyers and clients. The platform makes legal services accessible to all with just a click.

    “Potential challenges that may arise are jurisdictional issues in cases of international influencers, maintaining privacy and freedom of speech while ensuring compliance, and interpretation of content standards prescribed by SEBI,” Sharma, a lawyer by profession, said on the query the legal challenges that SEBI may encounter in enforcing regulations on finfluencers.

    With a growing number of internet users and investors, financial influencers are becoming super popular and influencing a lot of people’s money decisions. But sometimes, they might not give the best advice, and that could be risky for your savings!

    “The real problem is in defining the ‘fininfluencers’ and monitoring them. Today, any citizen has the fundamental right to speech and expression and to share their views publicly on any social media platform subject to just restrictions.

    “There are leading individuals who give interviews and explain their logic on markets/budget/finance and market-related issues which touch the lives and hearts of many individual investors. There are many organized and random players who regularly share updates through videos, chats, and blogs,” SNG & Partners Managing Partner Rajesh Narain Gupta told StartupTalky.

    What These Guidelines May Include?

    Be Honest: Finfluencers might have to tell the masses if they’re getting paid to promote something or if they have any connections to the products they’re talking about. That way, the public knows if they’re just trying to sell stuff or if they’re giving genuine advice.

    Follow the Rules: Just like professionals in finance have to follow certain rules, finfluencers might have to too! This means they need to play fair and not mislead people with fake promises or shady deals.

    Keep it Real: SEBI might want finfluencers to be more careful with what they say. No more wild claims or hyping up things that aren’t true. They need to be straight about the risks and rewards of investing.

    Teach People: Instead of just showing off their success stories, finfluencers might have to focus more on educating people about money matters. That means helping everyone understand how investments work and how to make smart choices with cash.

    As per experts, SEBI can consider different approaches to ensure the effective enforcement of the guidelines.

    • Technology-driven monitoring: Utilize data analytics to track online activity and identify potential violations.
    • Surprise audits: Conduct regular audits of SEBI-registered entities to ensure adherence to the regulations regarding influencer partnerships.
    • Investor grievance redressal: Establish a strong system for investors to report misleading information from finfluencers.

    Regulatory Hurdles on ‘Finfluencers’ in India
    Finfluencers are influencers who give information and advice on a wide variety of financial topics that include stock market trading, personal finance, and mutual funds.
    StartupTalkyKinnary Nensee

    But Wait, Why Is This Such a Big Deal?

     “There are still many who are not associated with any regulated entity but still in their own rights are heavy lifters and a word from them influences millions. The regulator (SEBI) has to intelligently qualify who the impacted ‘Fininfluencers’ will be and how the restrictions will not fall in the mischief of the right to speech and expression in a democratic country. Whether there is enough existing infrastructure to adjudicate and punish the wrong doer is another big issue,” SNG & Partners’ Gupta said.

    Gupta is an independent director on the boards of HDFC Capital Advisors Limited, HDFC Credila Financial Services Limited, and J.C. Flowers Asset Reconstruction Private Limited.

    Advocating on similar lines, Sharma said that SEBI must collaborate closely with legal experts to address these challenges proactively and develop comprehensive strategies that uphold regulatory objectives while respecting constitutional rights.

    Public Comments

    In August last year, SEBI floated a consultation paper for stakeholders’ discussion in this regard to protect investors from potential risks posed by unregistered financial influencers.

    SEBI had opened the floor for public comments on its proposal to limit the association of SEBI-registered intermediaries with unregistered finfluencers.

    The objective is to gather feedback on proposed restrictions, aiming to maintain market integrity and minimize risk.

    In the consultation paper, SEBI proposed stringent measures aimed at curbing ‘finfluencers’ association with registered intermediaries and regulated entities.

    Background: The Rise of Finfluencers

    The proliferation of financial influencers, or ‘finfluencers’, has garnered significant attention in recent times. While some provide genuine education, many operate without proper registration or authorization as investment advisers or research analysts. 

    As per the market regulator, only the registered ones would be eligible to post advice on the stock market on social media. This move could benefit traders and investors to identify eligible advisors and analysts. 

    Finfluencers often attract investors/prospective investors through their engaging stories, messages, reels, and videos on various social media platforms such as  Instagram, Facebook, YouTube, LinkedIn, Twitter now X, the consultation paper said.

    “Finfluencers registered with SEBI or stock exchanges or (Association of Mutual Funds in India) AMFI in any capacity shall display their appropriate registration number,  contact details, investor grievance redressal helpline, and make appropriate disclosure and disclaimer on any posts,” SEBI said.


    Limiting Association: SEBI’s Proposed Measures

    SEBI’s proposal included strict limitations on the association between registered intermediaries and unregistered finfluencers. It proposed to prohibit any form of association, monetary or non-monetary, for the promotion of services/products. 

    Additionally, entities must refrain from sharing confidential client information with unregistered parties and ensure compliance with advertisement guidelines.

    As per the  ‘Guidelines for Influencer Advertising in Digital Media’ released by the Advertising Standards Council of India, ‘influencer’ means “someone having access to an audience and power to affect such audiences’ purchasing decisions or opinions about a product, service, brand or experience, because of the influencer’s authority, knowledge, position, or relationship with their audience.” 

    Challenges

    There are tons of finfluencers out there, and making sure they all play by the same rules could be a challenge. But if it means people can trust the advice they’re getting online, it’s worth a shot!

    Of course, getting everyone to follow these rules won’t be easy. Despite having registered numbers it would be tough to identify the authenticity of the number being shown on the post.

    SEBI needs to enlighten people and make them aware of the risks associated with the financial markets.

    As per the legal expert, Sharma, the market watchdog, must include auditors and legal experts, who can play a crucial role in supporting SEBI-registered entities:

    • Auditors and Lawyers can conduct compliance workshops to educate entities on the regulations and best practices for responsible influencer partnerships.
    • They can help develop internal compliance frameworks. These frameworks will help entities establish internal processes to monitor influencer activity and manage associated risks.

    Rajesh Gupta, who is an advisor to many leading Indian and foreign banks, financial institutions, real estate players, and industrial houses believes that “reasonable restrictions can be put on regulated entities to engage with fininfluencers, but, would it solve the problem is a million-dollar question. Investors’ education and training are more critical aspects as we have countless existing regulations.”

    Conclusion: A Step Towards Investor Protection

    Well, without rules, anyone can call themselves an online finance expert, and that can be dangerous. If people follow bad advice, they could end up losing a lot of money. 

    By disrupting the revenue model of unregistered finfluencers and promoting transparency, the proposed measures aim to foster a more secure investment environment.

    So, let’s keep an eye out for what SEBI decides. Who knows, it might change the viewpoint about finance influencers forever!

    FAQs

    What are finfluencers?

    Finfluencers are a distinct subset of influencers who specialize in creating content centered around financial topics, such as investing, saving, budgeting, and personal finance. They leverage their expertise and experience to provide advice, tips, and insights to their audience through various social media platforms.

    What could the guidelines from SEBI include for the finfluencers?

    The guidelines may include finfluencers to be honest, to follow the rules, to be real, and to teach people correctly.

    What is the impact of finfluencers?

    Although finfluencers have been instrumental in promoting financial literacy and encouraging investor engagement in the finance market, their operations lack regulation, thereby potentially exposing investors to risks.

  • The Mariwala Family’s Transformation of Saffola Into a Household Name in India

    Among Indian household names, Saffola is universal. When Indians began to prefer buying oil from a branded seller rather than a street vendor, this particular brand began to make waves in Indian kitchens. The company’s decision to promote the brand through television commercials sped up its rise to fame. The iconic Saffola commercials have been a part of almost every Indian child’s television viewing experience. The company released an ad campaign centering on the heart to break into the Indian market. The Saffola commercial featured frantic individuals, heart rate monitors, and ambulances flashing their lights and sirens. Branded as “Life Insurance,” the oil was marketed as a safeguard against cardiovascular disease.

    Today, many consider Harsh Mariwala to be one of India’s foremost business gurus. Marico is an FMCG firm that Mariwala founded and chairs. Marico is responsible for creating well-known brands like Parachute, Saffola, Revive, and Mediker. Mariwala few years back posted on his Instagram, “For some reason, as we grow older, we start giving failures a negative connotation. How often do children stumble before they stand? How often do they fall before they walk? I can’t even count how many times I’ve failed at different things in my life. In fact, most of the successes have been built through these failures! As an entrepreneur, if something hasn’t worked out, don’t worry. Just keep at it!” Saffola surpassed its two formidable competitors, Hindustan Unilever and ITC, thanks to Mariwala’s tireless efforts and innovative marketing techniques.

    Anecdotes of the Past
    Tasting Failure
    Dusting Off Failure With Success

    Anecdotes of the Past

    In the 1960s, medical research identified safflower oil as a beneficial ingredient for heart health due to its higher concentration of something called polyunsaturated fatty acid. However, at that time, only crude safflower oil was commercially available, and it had an extremely bitter taste. As a result, the Mariwala Family received monthly postcards from heart patients requesting a few liters of this oil. Statistical estimates from public health indicate that India continues to bear approximately 60% of the global burden of heart disease. Heart disease is the leading cause of mortality among Indians and a silent epidemic.  

    This is when Saffola, a product of the Bombay Oil Company, was first introduced to the public in 1965 by the Mariwala family. Developing a marketing plan to get the product into the hands of consumers became the next pressing issue. The Saffola team proceeded methodically to launch heart health campaigns in collaboration with prestigious medical institutions such as the Escorts Health Institute and Bombay Hospital, among others. They also organized multiple conferences within the cardiology community to increase product awareness. From the consumer’s point of view, Saffola organized free cholesterol screenings and an awareness campaign to let people know that the brand stands for heart health. By the 1990s, these initiatives had grown to the point where they were reaching 85 lakh people across 9 cities. The business went so far as to launch a “dial a dietician” program, wherein customers could ask nutritionists for guidance on their diets and ways of living from anywhere in the nation. By going above and above to improve patients’ lives without directly marketing their product, Saffola was able to corner the market on patients’ needs without ever having to lift a finger.

    Saffola Product Range
    Saffola Product Range

    Tasting Failure

    Saffola had hit the mark for Mariwala, and he was now enjoying a wave of success. He realized that appealing to people’s sense of taste and wellness was the best approach to getting into their homes. With this in mind, the company re-entered the fast-moving consumer goods (FMCG) sector with a rebranded line of backed snacks. The main objective was to attract customers in this area since the majority of options were unhealthy and fried.

    We have Saffola, which is good for the heart, Mariwala said in a media encounter four years ago. Because of this, we considered introducing a baked snack under the Saffola name.

    Prototypes depend on good consumer feedback as they are not typically supported by advertising efforts. The new product failed miserably in the marketplace, even though the brand had a reputation among “health-food” consumers. After failing to meet consumers’ expectations, the product was subsequently pulled from sale.

    Dusting Off Failure With Success

    Following the snack product’s failure, the Marico team got down to the business of figuring out what went wrong and how to fix it. Following much deliberation, the group settled on introducing a new product to the market, but this time around, they would put more effort into studying and testing. This is the story of how Saffola Oats came to be.

    Saffola Masala Oats | Mazedaar Khaao Jee Bhar Ke

    As a novel product, saffola oats were delicious for consumers. After extensive research into regional preferences, Marico developed a variety of masala oats. In this product category, Marico is now at the top. Marico has introduced a plethora of products—honey, peanut butter, soy chunks, instant noodles, etc.—with the same zeal over the years. Even though it failed miserably in its snack food inception, the Saffola Oats brand went on to become an enormous hit.

    Marico Limited – Company Profile | Indian FMCG Company
    Marico is a consumer goods company, offering a wide range of food, beauty, and wellness products and services. Know more about its company profile here.
    StartupTalkySarika Anand

  • A Look at the Growing Trend of Platform Fees in Delivery Apps

    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 â‚č20 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 Current Structure of Platform Fees
    Zepto Joins the Bandwagon
    Aiming for Financial Gain

    The Current Structure of Platform Fees

    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.

    Zomato’s Growth Story of Delivering Happiness at the Doorsteps!
    Zomato is a reputed Indian foodtech company led by Deepinder Goyal. Here’s the story of Zomato’s growth, which covers Zomato valuation, funding, investors and more!
    StartupTalkyRishabh Rathi

    Zepto Joins the Bandwagon

    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
    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.

    How Much Commission Do Food Delivery Apps Like Zomato and Swiggy Charge
    Have you ever noticed the difference in prices between restaurant and food delivery apps? Let’s understand why your food costs more.
    StartupTalkyKinnary Nensee

  • India’s Pet Industry’s Changing Expansion Gears Rapidly

    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
    Size of the Pet Population Across India From 2006 to 2021, With Estimates Until 2026

    Revolutionising India’s Petcare Industry: The Role of Startups
    Technology Reshaping the Sector

    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.

    Best 10 Pet Care Brands in India
    The Indian pet care market is one of the fastest-growing markets in the world. Here is a list of the best pet care brands in India.
    StartupTalkyMahenoor Mansuri

    Technology Reshaping the Sector

    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.

  • Adidas Reels in Its First Loss in Three Decades

    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.

    Adidas posts first loss in 30 years

    Bjorn Gulden Pushing Hard to Repair the Business Dent
    North America Continued to Be a Bleak Market for the Brand
    Way Forward

    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.

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  • Flipkart’s Quick Commerce Revolution: Reshaping India’s Online Retail Landscape

    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 Likely To Launch Quick Commerce Services

    Key Players

    Future Prospects

    Key Players

    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.

    Instant Apps Transforming Indian Cities, Flipkart Plans Foray
    This article gives a closer look at how the Quick Commerce platforms are revolutionizing retail and what the future holds for this burgeoning industry.
    StartupTalkyTripti Agarwal

    Future Prospects

    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
    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.

  • How Artificial Intelligence and Augmented Reality Have Revolutionized the Beauty Industry

    While your skin endures the challenges of pollution, stress, weather fluctuations, poor lifestyle habits, and lack of sleep, skincare brands in India and globally are evolving with strategies driven by artificial intelligence (AI) to attract more customers and set notable trends in beauty and personal care products.

    Gone are the days when traditional skincare formulas passed down from mothers, like aloe vera and curd, were the sole priority for daughters. Over the past two decades, the skincare industry has witnessed a significant transformation driven by changing consumer preferences, consistent research and development, technological advancements, and a growing demand for more suitable, natural, sustainable, and skin-friendly products.

    For example, an Indian beauty brand, ‘Forest Essentials’ focuses on Ayurvedic skincare. Recently, it introduced customizable creams with Ayurvedic facial care formulas to target specific skin issues.

    Customers are asked to fill out a quiz or a questionnaire, and the algorithm analyses their answers. Then, based on this information, the system suggests the best-suited product to their needs. This makes it easier for customers to find the right skincare solution without needing help from skin specialists, dermatologists, or other experts.

    How AI Is Enhancing User Experience
    AI Technologies in Beauty Segment

    Leading Players
    Industry Developments
    Key Challenges
    Future Prospects

    How AI Is Enhancing User Experience

    With a global valuation of USD 181.2 billion, the beauty industry is undergoing a remarkable transformation fueled by the integration of artificial intelligence (AI) and augmented reality (AR). 

    From AI-driven skin analysis to personalized skincare recommendations, this technology is revolutionizing the market landscape and fostering continuous evolution. AI is enhancing the beauty sector overall, with a particular focus on skincare, by introducing innovative tools that cater to various skin needs, and sensitivities and enhance the overall user experience.

    Artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) are creating new perspectives for skincare. AI algorithms can accurately detect various skin conditions and concerns, including acne, rosacea, dark spots, patches, pigmentation, and more, through the analysis of images uploaded by users.

    “There is consumer optimism for AI, as 81% of Indian consumers who have heard of AI agree that it will be mostly beneficial to society. To build trust, brands need to be transparent about how AI is used in beauty, how data is handled, and what measures are in place to protect user information,” said an article on ‘How global beauty and personal care trends are playing out in India’ published by market intelligence agency Mintel. 

    AI-powered skincare platforms can analyze various aspects of an individual’s skin, such as hydration levels, redness, wrinkles, oiliness, elasticity, and sensitivity. By providing detailed insights into these factors, AI enables users to gain a deeper understanding of their skin’s characteristics, empowering them to make informed decisions about their skincare routine.

    Estimated Worldwide Revenue of the Beauty Tech Market in 2021, With a Forecast up to 2026
    Estimated Worldwide Revenue of the Beauty Tech Market in 2021, With a Forecast up to 2026

    AI Technologies in Beauty Segment

    Here are five artificial intelligence skincare technologies that are pushing the skincare industry:

    Perfect Corp — Skin Type Detection AI Technology

    Perfect Corp - Skin Type Detection AI Technology
    Perfect Corp – Skin Type Detection AI Technology

    This sophisticated tool is tailored for skincare brands, medical spas, and skincare professionals, enabling them to educate, advise, and guide customers on their skincare journey. With its ultra-fast edge AI algorithm, the solution expertly analyzes facial images, swiftly determining all 14 types of skin concerns, skin types, and skin age in under two seconds. This comprehensive skin analysis can be conducted using a simple photo or in real time through live camera mode.

    Haut.AI — Phygital Skin AI Tool

    AI for skincare by Haut.AIℱ

    Haut.AI is an innovative Software as a Service (SaaS) product that automates the collection of high-quality skin data. The product helps skincare brands provide skin testing and build interactive product recommendations on e-commerce platforms. The tool takes skin measurements with on-skin testers and continues the journey in a digital skincare app. Customers are given detailed skin scores and the mobile app allows shoppers to analyze and track results to make educated decisions and find a tailored selection of products. 

    Cetaphil — Skin AI Analysis

    Cetaphil — Skin AI Analysis
    Cetaphil — Skin AI Analysis

    This skin care analysis tool works in browsers, even on the phone. It gives information on hydration, redness, oiliness, dark circles, patches, and more.

    How to access Cetaphil

    • Step 1. Open the Cetaphil AI Skin Analysis on your mobile.
    • Step 2: Take a selfie.
    • Step 3: The Cetaphil AI Skin Analysis will scan your face and analyze your skin.
    • Step 4: Receive your personalized skin analysis report and skincare routine advice.

    Vichy Laboratoires — Skin Consult AI

    Vichy Laboratoires — Skin Consult AI
    Vichy Laboratoires — Skin Consult AI

    Similar to the Cetaphil analysis tool, Vichy Laboratories’ Skin Consult AI offers a QR code to scan for quick results. The tool creates a customized skincare routine on an individual basis by detecting fine lines, wrinkles, pores, pigmentation, radiance, under-eye bags, and firmness.

    Revieve — Personalized Digital Beauty Experiences

    Revieve — Personalized Digital Beauty Experiences
    Revieve — Personalized Digital Beauty Experiences

    Revieve’s Artificial Intelligence (AI) and Augmented Reality (AR) digital beauty experience offers several options in virtual beauty, including an AI skincare advisor, AI makeup advisor, AI nutrition advisor, AI sun care advisor, and an AI hair care advisor. The company’s digital health-beauty-wellness platform features self-diagnostic modules that deliver consumers targeted items, services, care, and treatments.

    Beauty Tech Tools: Revolutionizing the Beauty Industry with AI and Technology
    Explore how technology is revolutionizing skincare, makeup, and overall wellness. Discover the leading beauty tech apps and the role of AI in personalizing beauty routines.
    StartupTalkySingh Neeraj Shekhawat

    Leading Players

    According to ‘The Business Research Company’s AI In Beauty And Cosmetics Global Market Report 2023’, the global AI in beauty and cosmetics market size is expected to grow from USD 2.68 billion in 2022 to USD 3.27 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%.

    The global AI in cosmetics market size is expected to be at USD 6.8 billion in 2027 at a CAGR of 14.4%.

    Key players in the beauty industry are leveraging augmented reality (AR) to deliver interactive, immersive, and customer-focused experiences, engaging shoppers in innovative ways.

    Beauty brands are offering a range of personalized and convenient shopping experiences, from skin health assessments to intelligent color matching. This advancement has significantly enhanced accessibility and customization in the beauty retail sector.

    Leading players in the beauty industry, such as L’OrĂ©al S.A., Beiersdorf AG, Olay, Shiseido, Procter & Gamble, Pure & Mine, YOus Skincare, My Beauty Matches, EpigenCare Inc., mySKIN are investing in AI-powered solutions to stay ahead of the curve and meet evolving consumer demands.

    One can not just pick their night foot cream, and body talc using AI but also make smart choices with their hair oils, shampoos, perfumes, sunglasses, and fragrances.

    Industry Developments

    The key industry developments in the past few years from leading players include:

    1. Nykaa has introduced a new technology from L’OrĂ©al called ModiFace AR, which uses artificial intelligence (AI) to let you try on makeup virtually. This makes shopping for beauty products online more fun and easy. With ModiFace, you can see how makeup realistically looks on you. This feature is available on Nykaa’s website and mobile app, starting with L’OrĂ©al products.
    2. PROVEN Skincare has started a funding round called a Regulation A+ Offering, targeting to raise $60 billion. They plan to use these funds to keep improving their AI technology, hire more talent, promote their products better in both local and global markets, and develop new skincare products through research and development.
    3. Beauty technology company Perfect Corp has collaborated with Google to offer virtual beauty try-ons using augmented reality (AR). It means you can try on different beauty products and colors online through Google search.

    Key Challenges

    • Data Quality: Beauty and cosmetics companies are trying their utmost to compete with the evolving technical changes. Effective AI implementation depends heavily on access to large volumes of high-quality data. However, obtaining such data can be challenging due to privacy concerns, and inconsistencies in data collection procedures.
    • Privacy Concerns: People or consumers may or may not be comfortable sharing their pictures and sensitive details about their faces and bodies on AI apps. Ensuring data privacy, and earning consumer trust in handling sensitive personal information responsibly are critical aspects for cosmetic companies.

    The article by Mintel said: “While providing personalized solutions, brands must maintain transparency in handling data. Additionally, leveraging AI can enhance transparency efforts and facilitate the creation of “clean formulations.”

    • Complexity in Beauty Products: Cosmetics encompass a wide range of products with varying formulations, chemicals, consistencies, textures, and shades. Developing AI algorithms that can accurately analyze and recommend suitable products for diverse consumer preferences and skin types is complex. AI algorithms can aid in analyzing consumer trends, and market preferences to inform product innovation and optimize product performance.
      At the same time, beauty is a very personalized concept and its definitions can vary across cultures and regions, a beauty company cannot completely rely on just AI algorithms to reform its product lines, access the right customer base, and increase sales.
    • Skill Gap: Developing and implementing AI technologies in the beauty segment requires specialized training and expertise in data sciences and machine learning. Cosmetic companies may face challenges in recruiting and retaining the right talent with the necessary skills.
    • Cost: Implementing AI technologies involves significant upfront costs for software development, hardware infrastructure, data acquisition, and continuous maintenance. Small and medium-sized cosmetic companies may find it difficult to justify these investments.

    Future Prospects

    The surge of AI beauty and skincare has a promising outlook for the future. AI in the skincare sector is promising and poised for significant growth. As technology continues to advance, AI applications in the skincare industry are expected to revolutionize the sector in several ways.

    AI-driven skincare solutions will transform the way consumers deal with and address their skincare concerns. From analyzing skin conditions and recommending personalized routines to predicting future skincare concerns, AI will play a crucial role in optimizing skincare outcomes.

    As AI technologies continue to evolve and push beyond boundaries in all markets, they will redefine industry standards and drive positive transformation across all aspects of beauty product development, marketing, and consumer engagement.

    FAQs

    Who are the key players in the beauty industry?

    Leading players in the beauty industry include L’OrĂ©al S.A., Beiersdorf AG, Olay, Shiseido, Procter & Gamble, Pure & Mine, YOus Skincare, My Beauty Matches, EpigenCare Inc., and mySKIN.

    What are the Artificial intelligence skincare technologies that companies follow?

    Here are five artificial intelligence skincare technologies that are pushing the skincare industry:

    • Perfect Corp — Skin Type Detection AI Technology
    • Haut.AI — Phygital Skin AI Tool
    • Cetaphil — Skin AI Analysis
    • Vichy Laboratoires — Skin Consult AI
    • Revieve — Personalized Digital Beauty Experiences

    What are the key challenges that a skincare company might face in implementing AI?

    The key challenges that a skincare company might face in implementing AI include data privacy, cost, complexity of beauty products, skill gap, and privacy concerns.

    What is the market size of the global beauty tech industry?

    The global AI in beauty and cosmetics market size is expected to grow from USD 2.68 billion in 2022 to USD 3.27 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%.

  • How AI is Transforming the Nation’s Educational Future

    The educational system is undergoing a technological revolution, just like many other parts of the economy. Teachers no longer require traditional classroom tools like blackboards and chalk. Instead of or in addition to these components, smart class systems are used. The field of educational technology also called EdTech is also seeing rapid growth in the use of artificial intelligence and machine learning. With a projected $9 billion in revenue by 2029, the EdTech sector is a prime example of the many real-world uses for artificial intelligence and machine learning. An educational revolution called Education 4.0 has been taking place as a result of AI’s influence on school systems around the globe, including India. This shift has far-reaching consequences for the educational landscape, altering how recruiters, career counselors, students, and teachers all work and play.

    Software powered by artificial intelligence simplifies and speeds up the process of creating courses while cutting down on resources and costs. This allows for more customized educational opportunities—Teachers can see exactly which classes and lessons need reevaluation thanks to the assessment of students’ learning histories and their abilities to identify knowledge gaps. Teachers will be able to swiftly provide extra help to pupils who are having difficulty once AI helps with that.

    Sharing his views on the subject, Pratham Barot, CEO and Co-Founder of Zell Education stated, “In the dynamic landscape of education, AI stands as a pioneering force, reshaping the traditional roadmap with unprecedented innovation and efficiency. At Zell Education, we embrace this transformative power, recognizing AI as a catalyst for personalized learning experiences and enhanced educational outcomes. With AI, the boundaries of traditional classrooms dissolve, paving the way for a new era of adaptive learning.”

    “Through intelligent algorithms and data-driven insights, we empower learners to progress at their own pace, unlocking their full potential with tailored guidance and support. From predictive analytics to virtual tutoring, AI technologies revolutionize the educational journey, making it more accessible, engaging, and effective than ever before. Moreover, AI serves as a dynamic tool for educators, enabling them to craft curriculum and assessments that are responsive to the evolving needs of students.

    By leveraging AI-driven insights, educators can identify areas for improvement, implement targeted interventions, and foster a culture of continuous growth and development. As we navigate this digital frontier, our commitment to harnessing the power of AI remains steadfast. Together, we embark on a journey of innovation and discovery, shaping the future of education one algorithm at a time,” he added further.

    Indian Education System Adopting Smart Solutions
    Hurdles to Overcome

    Indian Education System Adopting Smart Solutions

    There is a strong effort by the Indian government and tech companies to further integrate AI into education, as the technology is finding more and more applications in fields such as marketing, legislation, and surveillance. After COVID-19 the achievement gap in schools became even more pronounced; nevertheless, artificial intelligence (AI) tools are assisting educators in a variety of ways, including the instruction of English, the creation of lesson plans, and the identification of students in danger of leaving out.

    The capacity to increase student involvement is one advantage of utilizing AI in the classroom. Incorporating sophisticated algorithms and data analysis, AI elevates conventional pedagogical practices while opening up new avenues of individualized student learning. Adaptability is a key feature of AI in education, allowing it to meet the unique demands of each student and provide them with personalized support and training.

    Teachers may sift through mountains of data on their pupils’ development and pinpoint problem areas with the help of AI-powered technologies. Teachers can utilize this information to create personalized learning programs that maximize academic progress. The use of AI in the classroom also allows for the rapid evaluation of student work and the provision of constructive criticism.

    Indian EdTech Industry
    Indian EdTech Industry

    Hurdles to Overcome

    Although education became a basic right for all children in India between the ages of six and fourteen in the historic Right to Education Act of 2009, the country ranks among the poorest developing nations in terms of education spending, at less than 3% of GDP.

    Official statistics show that in the fiscal year of 2022, there were almost 1.5 million schools across the country with 267 million students enrolled. Only slightly more than half of the schools had access to the internet, and even fewer had computers. Thus, AI technologies are being tailored by startups, nonprofits, and large tech companies to suit certain settings and educational requirements.

    While some were pleased by ChatGPT‘s user-friendliness and the increased usage of generative AI in the classroom, others were concerned about the possibility of plagiarism, false information, and inherent cultural prejudice. The platform was introduced in November 2022. The Unesco Framework for the Use of Generative Artificial Intelligence in Education was issued by Libing Wang, who cautioned that although the technology could revolutionize education, it could also exacerbate existing inequalities and injustices.

    According to Wang, “A comprehensive, nuanced and rights-based approach is necessary to fully realize the potential of generative AI in education. We should be wary of the simplistic notion that AI can magically fix all our problems, especially those related to education.”

    Another issue that needs to be addressed, according to Wang, is localization. The majority of generative AI models are trained using data from the West, which means that they may not be culturally relevant to the Asia-Pacific region or even contain racial and gender biases that could influence future generations. Public-private partnerships aren’t as prevalent in low-income nations, despite their potential as a solution. Getting students and educators ready for the use of AI in the classroom is a top priority. Some nations have made great strides towards incorporating AI into their K-12 curricula and teacher training programs, such as Singapore, the Republic of Korea, China, and Japan; others are still in the early stages of this journey. The objective is to introduce AI and make sure teachers are tech-savvy and AI-literate enough to lead students ethically and responsibly when they use generative AI technologies.

    An all-encompassing, nuanced, and rights-based strategy is necessary in the Asia-Pacific region to fully realize the promising possibilities of generative AI in the classroom. To achieve the larger objectives of the Education 2030 Agenda and the promises made at the 2022 Transforming Education Summit, we must strike a balance between policymaking, innovative research, improving the technological infrastructure, training teachers, engaging in social dialogues, and making an effort to localize culture to effectively incorporate generative AI into educational settings, he added further.

    Empowering Special Needs Students Via EdTech Initiatives
    This article explores key strategies and initiatives aimed at enhancing accessibility and inclusivity in the Education Technology sector, with a focus on addressing the needs of marginalized and special needs students in India.
    StartupTalkyTripti Agarwal

  • Retail Revolution: Instant Apps Transforming Indian Cities, Flipkart Plans Foray

    In Indian metro cities, the retail sector is changing fast with instant apps. Instant grocery delivery apps—Blinkit, Zepto, Swiggy Instamart, BBNow, and Dunzo Daily are leading this shift, making everyday shopping a breeze.

    They are not just names; they represent the vanguard of quick commerce. These instant delivery apps are reshaping how consumers shop for everyday necessities. 

    Here’s a closer look at how these platforms are revolutionizing retail and what the future holds for this burgeoning industry.

    Consumer-centric Convenience
    Industry Disruption
    Fun Facts
    Key Players

    Flipkart Plans Foray
    Future Market Estimations
    More Power to Consumers
    Hurdles and Competition
    Solutions and Innovation
    Making Life Easy for Users
    Transforming Shopping for Seniors and Mobility-Challenge

    Consumer-centric Convenience

    In today’s fast-paced world, consumers demand convenience at their fingertips, and instant apps deliver precisely that. 

    With a few taps on their smartphones, shoppers can browse through an array of products, from groceries to household essentials, and have them delivered to their doorstep within a few minutes. 

    This consumer-centric approach has propelled instant apps to the forefront of the retail landscape, leaving traditional brick-and-mortar stores scrambling to keep up.

    Industry Disruption

    The impact of instant apps on the retail industry cannot be overstated. These platforms have disrupted conventional retail models, prompting retailers to rethink their strategies or risk becoming obsolete. 

    Thanks to fast delivery and a wide range of products, consumers are rushing to instant apps, fueling a major shift towards e-commerce and quick commerce.

    What is Quick Commerce? | Features of Quick Commerce
    Quick commerce creates a better customer experience by helping businesses connect with their customers more quickly than the traditional methods.
    StartupTalkyBharat L. Vora

    Fun Facts

    • Blinkit delivered 10,000 single roses by 10 am on Valentine’s Day this year.
    • Zepto sold more than 200,000 roses during Valentine’s week.
    • Blinkit delivered 20K+ chocolates in less than 10 minutes as they peaked at 406 chocolates per minute.
    • Zepto saw a 4x jump in sales on Chocolate Day.
    • In 2023, during the India and Australia World Cup finals, Swiggy Instamart experienced a surge, with the app registering a peak of nine jersey orders per minute.
    • On New Year’s Eve, Zomato achieved a groundbreaking number of orders on its app, nearly matching the total orders from the same day across the previous six years, from 2015 to 2020. “8,422 orders were placed at 8:06 pm – that’s 140 orders every second,” Deepinder Goyal said in a post on X, formerly Twitter.
    • Over Rs 97 lakh in tips were given to delivery partners on December 31, with more than 3,20,000 delivery partners serving customers across Zomato and its quick commerce business, Blinkit.
    • On New Year’s Eve, Swiggy processed over 480,000 biryani orders, equivalent to 1,244 dish units ordered every minute.
    • On New Year’s Eve 2023, Indians placed a record-breaking 6.5 million online food delivery orders, marking an 18% increase compared to the previous year.

    Record-High In Orders For Swiggy, Zepto, & Blinkit; Insights From CEO Aadit Palicha & Rohit Kapoor

    Key Players

    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%

    Blinkit

    Formerly known as Grofers, 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 their orders within a matter of minutes, making grocery shopping a seamless experience. The company has begun selling home appliances, chargers, headphones, smartwatches, lighting solutions, batteries, electronic accessories, and more.

    Zepto

    Zepto has carved a niche for itself in the instant delivery space, offering a wide range of products, including groceries, electronics, fruits, vegetables, and personal care items. Leveraging advanced logistics technology, Zepto guarantees swift delivery, catering to the on-the-go lifestyle of metro dwellers.

    Swiggy Instamart

    Building upon the success of its food delivery platform, Swiggy has ventured into quick commerce with Instamart. Partnering with neighborhood stores, Swiggy Instamart promises delivery in under 30 minutes, ensuring that customers never run out of essentials.

    BBNow

    BigBasket, a household name in online grocery shopping, has launched BBNow to tap into the burgeoning demand for instant delivery. It guarantees delivery within 15-30 minutes, and in the event of a delay, offers a 5% cashback, subject to certain terms and conditions such as extreme traffic, peak hours, and unforeseen circumstances.

    Dunzo Daily

    Dunzo has become synonymous with hyperlocal delivery, and its Daily service takes this a step further by guaranteeing delivery within 19 minutes. From groceries to medicines to letters to clothes from tailors, Dunzo Daily fulfills all your daily needs with lightning speed.

    Amazon Fresh

    Amazon’s grocery delivery app, Amazon Fresh is not into 10-minute delivery but it takes grocery orders via the Amazon Fresh website or mobile app. The company aims to deliver goods at home within 2-4 hours of placing order.

    Flipkart Plans Foray

    In the fast-paced world of eCommerce, eCommerce giant Flipkart is gearing up to compete with established players like Swiggy’s Instamart, Zomato’s Blinkit, and Zepto.

    As per industry insights, Flipkart is also building its infrastructure to expand into quick commerce with the introduction of dark stores. 

    Dark stores are essentially mini warehouses designed for online order fulfillment. They operate discreetly, away from regular consumers, and boast enhanced inventory storage capacity and streamlined operations.

    Flipkart’s decision to venture into quick commerce stems from market dynamics. The firm is aiming for rapid deliveries within 10-15 minutes in major cities like Bengaluru, Delhi (NCR), and Hyderabad, as per reports. 

    “At Flipkart, customer-centricity is at the core of everything we do. We constantly work towards delivering a wide range of products to customers with speed. Over the past few months, we have made several investments to enhance our delivery capabilities, including adding same-day delivery in 20 cities. This covers mobiles, essential items, electronics, home appliances, fashion, books and lifestyle products. 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,” said Flipkart’s spokesperson on a query whether Flipkart is planning to enter the quick commerce business. 

    Recent statistics indicate a notable loss in Flipkart’s grocery sales to Blinkit and Instamart, attributed to their lightning-fast delivery services, often within 15 to 20 minutes. This reflects a broader consumer preference for convenience and speedy services, prompting Flipkart to adapt its strategy accordingly.

    “The market is already moving this direction, with Zomato and Zepto expanding their product assortments, Amazon offering same day delivery in select Indian cities and Walmart-owned Flipkart recently announcing a similar move,” said Glade Brook Capital Founder and CIO Paul Hudson on March 6, 2024 in his LinkedIn post.

    Glade Brook Capital is a US-based venture capital firm, which has invested in Zepto and Zomato.

    By leveraging the efficiency of dark stores, Flipkart aims to regain market share and cater to evolving consumer preferences. The move signifies a strategic pivot aimed at aligning with market demands and providing swift, seamless delivery experiences to customers.

    The Order Flow

    Future Market Estimations

    The future for instant apps in Indian metro cities shines brightly. 

    According to Inc42 data, the quick commerce sector in India experienced a rapid surge in popularity between 2021 and 2023, raising USD 4.2 billion in funding.

    According to industry projections, the quick commerce segment in India is expected to witness exponential growth, with estimates suggesting a market size of USD 5 billion by 2025. 

    This growth trajectory is fueled by the increasing penetration of smartphones, rising internet connectivity, and changing consumer preferences. 

    As technology progresses, these platforms will evolve into even more efficient and user-friendly solutions, providing personalized recommendations and seamless shopping experiences. 

    “Together with Swiggy Instamart (where Glade Brook is not an investor), Zepto and Zomato-owned Blinkit have led the growth of this sector, from start-up to millions of users and tens of thousands of crores (billions of US dollars) in revenue in less than 3 years,” Hudson said in his insightful article on professional networking site LinkedIn.

    Advancements in logistics, Artificial Intelligence, and machine learning will play pivotal roles in streamlining operations, leading to quicker delivery times and heightened customer satisfaction.

    “India’s quick commerce market is experiencing rapid growth due to increasing smartphone penetration and a young tech-savvy population. 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,” as per the findings of data gathering online platform Statista.

    Furthermore, the proliferation of smart devices, more and more innovation in the retail sector, refinement in apps, and the impending rollout of 5G technology will catalyze the expansion of instant apps’ reach. 

    With faster and more reliable internet connectivity, these platforms will extend their services to even the country’s most remote corners, democratizing access to essential goods.

    As urbanization continues unabated and the demand for convenience escalates, the potential for instant apps to capture a significant market share is immense.

    More Power to Consumers

    The availability of goods through instant apps can be a game-changer for the retail sector. It not only changes how one shops but also gives power to consumers. 

    With instant apps, people can easily find what they need, no matter where they are. 

    This means big changes in how customers buy things. In Indian metro cities, the future of instant apps looks promising. They’ll keep getting better and reaching more people. 

    As they improve with new technology, nationwide shopping will become quicker, simpler, and more tailored to each person’s needs and thoughts.

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    Hurdles and Competition

    Despite their rapid growth, instant apps face several challenges and stiff competition in the market. 

    One of the primary hurdles is ensuring seamless logistics and efficient last-mile delivery. 

    The reliance on a network of delivery partners and the management of inventory in real-time pose significant operational challenges. 

    Additionally, competition among instant apps is intense, with players vying for market share through aggressive marketing strategies and innovative offerings.

    Solutions and Innovation

    To overcome these hurdles, instant apps are leveraging technology and innovation to streamline operations and enhance the user experience. 

    Advanced logistics algorithms optimize delivery routes, minimizing delivery times and maximizing efficiency. 

    Real-time inventory management systems ensure that products are readily available, reducing the likelihood of stockouts. Moreover, partnerships with local vendors and neighborhood stores expand the product assortment, catering to diverse consumer preferences.

    Making Life Easy for Users

    Instant apps have transformed the lives of users in myriad ways, offering unparalleled convenience and flexibility. 

    Busy professionals can now skip the hassle of visiting retail shops, grocery shopping, and household errands, they can just rely on instant apps to fulfill their daily needs within minutes. 

    Based on the region, the Southern part of India captured the major market share in the India Quick Commerce market. The Q-commerce companies are expanding their presence in metro & Tier 1 cities such as Hyderabad, Bangalore, Pune, Mumbai, Chennai, etc., in the Southern region.

    Moreover, the major factors attributing its demand in these prime cities are the presence of the working population, large internet penetration as well as high awareness regarding the usage of technology.

    “The individuals living in these cities are more tech-oriented & are more likely to refer to an online platform to purchase their day-to-day groceries due to their busy lifestyles, aging populations, and the prevalence of work from home. Hence, this leads to a lower preference to visit stores,” said a report ‘India Quick Commerce Market Research Report: Forecast (2023-2028)’ by MarkNTel Advisors.

    Parents juggling work and family responsibilities find solace in the ability to order essentials at the touch of a button, saving precious time and energy. 

    Moreover, the seamless integration of payment gateways and user-friendly interfaces ensures a hassle-free shopping experience, further enhancing user satisfaction. These instant delivery apps are attractive as they provide coupon codes, discount offers, and cashback for using varied payment gateway options.

    Transforming Shopping for Seniors and Mobility-Challenge

    Instant apps are incredibly useful for senior citizens and people with disabilities who face challenges in visiting stores and standing in long queues. They can browse through a wide range of products and make purchases with just a few taps on their smartphones or tablets.

    These apps are designed with accessibility features that cater to individuals with different disabilities. This includes features such as voice commands, screen readers, and adjustable font sizes, making it easier for them to navigate the app and complete transactions independently.

    For individuals with mobility issues or chronic pain, visiting stores and standing in queues can be physically exhausting and uncomfortable. Instant apps alleviate this strain by allowing them to shop from home, avoiding the need to navigate crowded aisles or wait in long lines.

    Instant apps often offer personalized recommendations based on past purchases and preferences. This tailored shopping experience can be beneficial for senior citizens and people with disabilities, ensuring that they find items that meet their specific needs and preferences without the hassle of browsing through crowded shelves.

    Conclusion

    The rise of instant apps in Indian metro cities marks a paradigm shift in the retail industry. 

    Blinkit, Zepto, Swiggy Instamart, BBNow, and Dunzo Daily are at the forefront of this revolution, offering consumers unparalleled convenience and efficiency. As these platforms continue to innovate and evolve, they will redefine the way we shop, setting new standards for convenience, speed, and customer satisfaction. 

    The future of retail is here and now.

    FAQs

    What is Quick Commerce?

    Quick Commerce, also referred to as Q-commerce, is a type of eCommerce where the emphasis is on quick deliveries, typically in less than an hour. 

    What are the best Quick Commerce companies in India?

    Swiggy, Dunzo Now, Blinkit, Big Basket, and Zepto are the major companies operating in the Indian Q-Commerce Market.

    What is the projected user expansion in the Quick Commerce sector within the Indian market in the future?

    By 2028, it is anticipated that the number of users in the Quick Commerce market in India will reach 56.4 million users.

  • Bridging Divides: Empowering Marginalized, Special Needs Students Via EdTech Initiatives

    The EdTech industry in India has experienced exponential growth in recent years, transforming the landscape of education and providing innovative solutions to learners across the country. 

    In 2020, India’s educational technology sector, called EdTech, was valued at more than 2.8 billion U.S. dollars. By 2025, projections indicate that this valuation will skyrocket, surpassing the USD 10 billion mark.

    However, amidst this progress, ensuring accessibility, affordability, and inclusivity for marginalized and special needs students remains a critical challenge. 

    Despite the widespread adoption of digital learning platforms, many students from underserved communities continue to face barriers to accessing quality education. 

    This article explores key strategies and initiatives aimed at enhancing accessibility and inclusivity in the Education Technology sector, with a focus on addressing the needs of marginalized and special needs students in India.

    Educational Technology Market Size in India in 2020, With Projection for 2025, by Segment
    Educational Technology Market Size in India in 2020, With Projection for 2025, by Segment

    Tailored Content and Platforms
    Adaptation for Special Needs
    Bridging the Digital Divide
    Teacher Training and Support
    Community Engagement and Awareness
    Collaboration with NGOs and Specialized Organizations
    Policy Advocacy and Implementation

    Tailored Content and Platforms

    One of the fundamental strategies for promoting inclusivity in EdTech is developing educational content and platforms catering to diverse learning needs and abilities. 

    According to the “Prevalence, pattern, and determinants of disabilities in India: Insights from the National Family Health Survey-5 (2019–21),“ published in February of this year, four out of every hundred individuals in India have a disability, highlighting the importance of creating accessible digital learning resources. 

    By 2050, India is projected to have 323 million individuals aged 60 years and above, constituting 19.1% of the total population. 

    This demographic shift will pose considerable structural and budgetary challenges for the country, exacerbated by the growing numbers of both elderly citizens and individuals with disabilities.

    By providing options for different formats such as text, audio, and video, EdTech companies can accommodate varied learning preferences and ensure that content is accessible to all students. 

    “For students with disabilities, EdTech removes barriers to participation. Features like screen readers and voice-activated interfaces ensure equal access to educational materials. Imagine a student with visual impairments navigating complex diagrams – with screen readers, they can grasp the information independently. AI-powered platforms further personalize the learning experience, adjusting difficulty and content to individual needs,” Suraasa Founder and Cognitive Scientist Rishabh Khana told StartupTalky. Surassa is a teacher upskilling edtech platform.   

    Moreover, recent studies have shown that students are more engaged and retain information better when presented with content that aligns with their learning styles.

    Adaptation for Special Needs

    In addition to tailoring content, integrating assistive technologies is essential for supporting students with special needs. 

    According to data from the 2011 Census of India, there are around 26 crore people in the country who have disabilities.
    According to data from the 2011 Census of India, there are around 26 crore people in the country who have disabilities.

    Recent advancements in technology, such as screen readers, voice recognition software, and captioning tools, have significantly improved accessibility for individuals with visual or auditory impairments. However, there is still a need for greater awareness and implementation of these technologies within the EdTech sector. 

    “We need to move beyond a one-size-fits-all approach. EdTech solutions should incorporate diverse learning styles, including visual, auditory, and kinesthetic elements, to cater to individual needs. Integrating features like screen readers, closed captions, and dyslexia-friendly fonts ensures students with disabilities can access and engage with the learning materials effectively,” Rohan Rai, Co-Founder of Edupull told StartupTalky.

    EduPull is an edtech company focussing on the needs of Gen Z. It acts as a bridge between institutions and Gen Z.

    Only a small percentage of EdTech platforms in India are fully accessible to students with disabilities, highlighting the need for increased efforts to prioritize inclusivity in product development and design.

    “In ensuring that Cherrilearn’s EdTech solutions are accessible and inclusive for all learners, we address four core challenges that hinder accessibility and inclusivity. These challenges include unaffordability, limited reach in Tier 3 and Tier 4 regions, insufficient focus on learning outcomes, and the unavailability of EdTech in regional languages,“ Cherrilearn CEO and Co-founder Shrinidhi RS told StartupTalky. 

    Cherrilearn provides affordable, quality education in English and regional languages to rural areas through interactive learning aids.

    Bridging the Digital Divide

    Recent data suggests that approximately 50% of India’s rural population lacks access to the internet, hindering their ability to benefit from online learning opportunities. 

    Addressing the digital divide is another critical aspect of promoting inclusivity in EdTech.

    As per a survey on ‘Rural Internet Connectivity in India’, internet penetration in India faces several challenges, including unreliable electricity supply, affordability of internet connectivity and user equipment, lack of industry incentives for low-cost connectivity, and topographical challenges, among others.

    To bridge this gap, EdTech companies must collaborate with government initiatives and NGOs to provide affordable or subsidized devices and internet connectivity to students in rural and underserved areas. 

    “EdTech providers, non-profit organizations, and government initiatives are working towards providing affordable or free access to necessary devices and internet connectivity. This ensures that learners from economically disadvantaged backgrounds can also benefit from digital education,” Inflection Point Ventures Co-founder Mitesh Shah told StartupTalky.

    IPV is democratizing angel investing. It aims to be the most accessible angel-investing network providing funding and support to enable them to scale and grow.

    With the Indian education technology market projected to be USD 10.4 billion by 2025, IPV has recently invested in the innovative education technology startup MyCaptain. 

    Teacher Training and Support

    In addition to providing accessible content and technology, it is essential to invest in teacher training and support to ensure the effective implementation of EdTech solutions in the classroom. 

    Surveys have revealed that many teachers in India lack the necessary digital literacy skills to integrate technology into their teaching practices.

    As per the World Economic Forum, by 2025, more than half of the global workforce will need upskilling, and reskilling that includes digital literacy skills. 

    To address this gap, EdTech companies can offer comprehensive training programs and ongoing support to educators, empowering them to leverage digital tools effectively to enhance student learning. 

    “Effective EdTech integration hinges on empowered teachers. The second strategy is teacher-focused EdTechs providing comprehensive training programs. This fosters improved technology adoption and equips teachers with skills to personalize learning,” said Suraasa’s Founder Rishabh Khanna.

    His company is aimed at enabling and upskilling teachers as per international standards.

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    Recent initiatives by leading EdTech platforms have shown promising results, with trained teachers reporting increased confidence and engagement in using technology in their classrooms.

    “Digital literacy gaps among educators and students represent another challenge. To overcome this, there is a need for substantial investments in training programs that enhance the digital literacy skills of both teachers and students,” angel investor Mitesh Shah said.

    Shah has made 52 investments, including in BharatPe and GetVantage. He has invested in EdTech firms– -Suraasa, Geekster, Toppersnotes, Playto, Homi Lab, and Mindler, among others.

    Community Engagement and Awareness

    Raising awareness among parents, caregivers, and communities is also crucial for promoting inclusivity in EdTech. Recent studies have shown that parental involvement plays a significant role in supporting children’s learning outcomes, particularly for students with special needs. 

    By actively engaging with parents and caregivers and providing guidance on how to support their children’s digital learning journey, EdTech companies can create a more supportive and inclusive learning environment. 

    Moreover, recent collaborations between EdTech platforms and community organizations have helped increase awareness of available resources and services, empowering families to make informed decisions about their children’s education.

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    Collaboration with NGOs and Specialized Organizations

    Collaborating with NGOs and organizations specializing in education for marginalized and special needs students is another effective way to promote inclusivity in EdTech. 

    Recent partnerships between EdTech companies and non-profit organizations have resulted in the development of tailored educational content and programs designed to meet the unique needs of these student populations. By leveraging the expertise and resources of these organizations, EdTech platforms can ensure that their products and services are inclusive and accessible to all learners.

    “It’s essential to engage with all stakeholders, including educators, parents, policymakers, and the broader community, to build trust, demonstrate value, and foster collaboration. By emphasizing the transformative potential of EdTech and highlighting success stories, we can garner support and drive widespread adoption for the betterment of education for all,” said Cherrilearn’s Shrinidhi. 

    Shrinidhi’s educational application, CherriLearn, delivers interactive lessons designed in regional languages, designed specifically for rural students in grades 1 to 5.

    Policy Advocacy and Implementation

    By working collaboratively with government agencies and policymakers, EdTech companies can help shape policies that support the development and implementation of inclusive education initiatives. Recent examples of policy reforms include mandates for web accessibility standards and guidelines for content development, which have helped improve the accessibility of digital learning resources for students with disabilities.

    The Centre’s Samagra Shiksha Abhiyan program ensures the availability of assistive devices and technologies to aid students with disabilities in their learning process. These assistive devices include braille books, audio-visual aids, magnifiers, hearing aids, and mobility aids, among others. 

    Another initiative is the ‘AICTE-Saksham Scholarship Scheme 2023-24’, aimed at rewarding select differently-abled candidates with an annual financial award of â‚č50,000 for each year of their technical study.

    Conclusion

    In conclusion, promoting accessibility and inclusivity in the EdTech industry is essential for ensuring equitable access to quality education for all students, including those from marginalized and special needs communities in India. 

    By implementing targeted strategies and initiatives, EdTech companies can play a significant role in driving positive change and fostering a more inclusive learning environment. 

    “Bridging the digital divide requires collaborative efforts to ensure equitable access to technology and infrastructure, especially in underserved communities,” EduPull’s Co-founder Rai said.

    Through continued collaboration and innovation, we can empower every learner to reach their full potential and build a brighter future for generations to come.

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