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Amazon India reportedly closing in on Flipkart
Posted on 22nd March 2018
BENGALURU: Amazon has almost closed the gap with Flipkart's standalone sales in 2017, behind in GMV marketshare by less than 1percentage point in 2017 from 5 percentage points in 2016, as per Forrester. However, Flipkart still leads as a group with Myntra and Jabong.

While Flipkart leads in fashion and smartphones, Amazon has taken lead in categories such as appliances, consumer electronics, and more importantly, groceries, which builds platform stickiness, said Satish Meena, a senior forecast analyst at Forrester.

Amazon is also emerging as a clear leader among metro consumers, as per a Forrester survey done among 2,000 respondents in 9 cities in 2017, wherein 80% shopped on Amazon, while 65% shopped on Flipkart.

“After surpassing Flipkart in 2016 for the first time (in metropolitan user preference), Amazon has strengthened its position as metropolitan Indian consumers’ preferred online retail destination and is aggressively closing the gap with Flipkart to become the single-largest online retailer in India in terms of sales,” a new report by Forrester, titled Online Retail Forecast (2017-2022) Asia Pacific, said.

Overall, the online retail sector saw sales worth $19.6 billion in 2017 ($20.3 billion including movie and event tickets), as per Forrester, which is expected to grow to $27 billion in 2018.

Flipkart’s standalone marketshare was 31.9%, while Amazon’s was 31.1%, as per the market research firm.

Related Companies: Amazon India   

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Gold prices today at Rs 49,050 per 10 gm, silver jumps to Rs 52,210 a kg
Posted on 14th July 2020
Gold prices on Tuesday jumped to Rs 49,050 from Rs 49,010 per 10 gram, while silver climbed to Rs 52,210 from Rs 52,000 per kilogram, according to Good Returns website.

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Tata Communications hits over 2-year high; stock zooms 112% in 3 months
Posted on 14th July 2020
Shares of Tata Communications were locked in the 5 per cent upper circuit for the second straight day on the BSE at Rs 700.55 on Tuesday, hitting an over two-year high in an otherwise weak market.

The stock of the Tata group company was trading at its highest level since December 15, 2017. In the past three months, it had rallied 112 per cent after the company delivered strong operating performance during the January-March quarter (Q4FY20). In comparison, the S&P BSE Sensex was up 18 per cent during the period.

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