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Amazon strengthens play in furniture segment ahead of festive season
Posted on 16th September 2019
Amazon India has expanded its range in the furniture category to over 1.6 lakh products, especially from small and medium businesses, ahead of the festive season. Amazon, which has pumped in billions of dollars into its Indian operations over the last few years, said it has seen its furniture business in the country grow by over 120 per cent over the last year.

“Customers typically look to upgrade their homes in the festive season. We have added more than 60,000 products this year to offer the largest selection of furniture,” Amazon India Director – Large Appliances and Furniture Suchit Subhas told PTI.

He added that around 25 per cent of the company’s furniture buyers use finance schemes like no-cost EMI.

Over 65 per cent of its sales are coming from customers beyond the metros from cities such as Nasik, Raipur, Vellore, Udupi, Kota, Kollam and Palakkad.

“Our dedicated fulfilment infrastructure for furniture and large appliances allows us to make faster, damage-free deliveries,” he said adding that amazon.in currently delivers within one day in the top 10 cities and within two days in the top 25 cities.

Subhas explained that apart from products from popular brands like Home Centre, Godrej Interio, Sleepwell and UrbanLadder, Amazon has also enabled entrepreneurs to create new brands like Wakefit, Sleepycat and Deckup.

He added that the online marketplace is also enabling small and medium businesses in artisan hubs of Rajasthan to sell their products to a nationwide customer base.

While the company hasn’t announced the dates of its festive sales, it is likely to kick off in the last week of September. Rival Flipkart has announced that it will host its flagship event ‘The Big Billion Days’ from September 29 to October 4.

E-commerce companies, which see a large chunk of their sales during the festive season, start preparing for festive sales months in advance — ramping up logistics and hiring thousands of temporary workers to ensure timely delivery of products.

Related Companies: Amazon India   

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Bajaj Auto today reported better-than-expected earnings for the quarter ended September 30, pushing its shares 2% higher in afternoon trade. Bajaj Auto shares were up 2% at ₹3,186 as compared to a 0.44% rise in Sensex. The automaker's profit rose 22% to ₹1,402 crore, aided by a tax expense reversal of ₹182 crore due to the recent lowering of corporate tax rate.

Amazon’s new move to boost customer connect: Publishes success of small business sellers on boxes
Posted on 23rd October 2019
In a first-of-its-kind move by an e-commerce company, Amazon optimising its delivery boxes to increase customer engagement has announced Storyboxes — a packaging initiative where Amazon shares the growth journey of its sellers on the boxes. The company started the initiative during its annual Great Indian Festival sale (September 29 – October 4) to print the stories of its six sellers as of now. The company is looking to increase the number of such sellers’ stories ahead.

American firm readies class action suit against Infosys on whistleblower allegations
Posted on 23rd October 2019
Even as Infosys battles whistleblower allegations of using aggressive accounting methods to boost its revenues and margin, a US-based law firm, Rosen Law Firm, which specialises in securities class actions, said it was preparing such a suit to recover losses suffered by the investors. “Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Infosys investors,” it said in a statement.

DoT seeks relief for BSNL, MTNL once again, but with fewer demands
Posted on 23rd October 2019
Department of Telecommunications has again sought relief for the beleaguered Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd with fewer demands, essentially translating into lesser cash outgo by the Centre.

It is learnt that DoT has sought funds for the voluntary retirement schemes of the two sick units and allotment of 4G spectrum, besides proposing to raise finances by monetising assets.


SBI Life Insurance joins Rs 1-trillion m- cap club, stock hits record high
Posted on 23rd October 2019
SBI Life Insurance Company today entered the coveted Rs 1 trillion market capitalisation (market-cap) club after its share price hit a fresh all-time high on the National Stock Exchange (NSE). The stock of the life insurance company hit a new high of Rs 1,012 on Wednesday in the intra-day deal.

Following the uptick in the counter, SBI Life’s market cap crossed Rs 1-trillion mark or Rs 1,01,200 crore in intra-day trade today.


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