- Aswebman Designs
- Ripped Jeans
- Men Printed T-Shirts and Tees
- Halloween Mixed Shop
- Trench Coat
- Marvel Captain America
- Sports – Ali
- Avengers Endgame
- Rainbow Brite
- Mickey Mouse and Friends
- Harry Potter
- Justice league
- Minnie and Friends
- Pirates of Carribean
- DC Comics
- Independence Day
- Teespring askwebman store
- Tom and Jerry
- Toy Story 4
- Wonder Women
Retail News Subscribe – One mail per day with summary
- Jason & Scot Show Episode 230 Amazon Q2 2020 Earnings
- SOCKSHOP ties with Sal’s Shoes and homelessness charity to support new School Uniform Hub free uniform for families in need – Retail Times
- IMC to Present Webinars on Post-COVID-19 Retail
- What Does the Back to School 2020 Retail Season Look Like?
- 5 Steps to Making Live Stream Videos That Further Your Retail Branding
- … and rolls out electric delivery vans across JLP and Waitrose as home delivery soars
- Restaurants are in ‘fight mode right now,’ Dunkin’ Brands CEO says
- ‘Simple modern, discount shopping’: the Argos catalogue through the years – in pictures | Business
- Creative Design & Display Connections launched
- Check out Nike’s new Paris flagship
- Redundancies at Waterstones HQ as some stores remain shut
- Primark launches national in-store recycling
- Digital Is Turning Retail Into An On-Demand Model
- Shopify to offer installment payments through Affirm
- Retail Roundup—Etsy expands in Germany; Bluefly gains more sellers
- American President asked Barr to conduct the news conference for clearing him on Ukraine
- parcelLab marks 5th anniversary and expansion strategy – Retail News – A1 Retail Magazine
- Innovative Retailer: THG Ingenuity – Retail Insider
- SINGLE USE PPE KITS SOLUTION PERFECT FOR PEOPLE ON THE GO…
- Jason & Scot Show Episode 229 News including Google and Big Commerce, and NRF NXT
Safe content check
Content found safe from malware :
www.askwebman.com (askwebman.com) is a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.in.
In addition to askwebman’s participation in Amazon’s program, askwebman.com also participates in a number of other affiliate programs. That means when someone clicks on an affiliate link and purchases a product,askwebman.com receives a small commission.
This commission does not cost you anything, nor does it affect our judgement when it comes to selecting which products we showcase in our content.
New Products update – One mail per day
Retail News update – One mail per day
Subscribe by category
In an exclusive interview with ET, Vaibhav Gupta and Sujeet Kumar said the fear of Covid-19 pandemic has also led to the platform seeing faster adoption from both retailers and manufacturers, as constraints like travel and continued lockdown in certain parts of the country have hurt their traditional channels.
The company connects manufacturers with small retailers across three categories–food (staples, and fresh vegetables), non-food (electronics, and fashion), and pharmaceuticals. Food and non-food contribute equally to about more than 90% of Udaan’s sales volume, while pharma is its fastest-growing vertical.
Opening numbers from June indicate that the company has recovered 80% of its pre-Covid-19 sales on the back of scaling up its fresh food and pharma categories. “While these categories continue to grow, July is when the festive season buying begins and early signs are positive,” Kumar said. Recalibrating the impact of the pandemic on operations, the company’s annualised sales stand at an estimated $3.5-$4 billion, sources said.
“Business is coming back more strongly…Our anticipation was whenever non-essentials open, recovery would take time. I think we were wrong,” said Kumar. The average basket size per order is also increasing, he said.
The comeback is also in part due to the collapse of offline B2B retail channels in the country, hurt by restrictions due to the pandemic. “Earlier, people used Udaan to fulfill top of kind of demand. Now we are seeing core (business buying) happening on the platform,” he said.
In April, Udaan had laid off about 10-15% of its contract staff, which is estimated to have impacted 3,000-3,500 jobs, as it forecast a prolonged impact of Covid-19 on its non-essentials business.
“I think almost everybody’s mindset has materially shifted to digital as a very important channel going forward…In the last few months, a number of brands, manufacturers, as well as retailers, chemists, factory owners have been reaching out and beginning relationships with our platform, said Gupta. “For instance, if you think about garments, people used to travel for touch and feel of section of samples. Now they are restricted, and also very scared to touch products.”
The B2B online market is the next big battleground for technology companies, including Walmart-owned Flipkart, which just launched its wholesale business, as well as Amazon’s business-to-business division, Reliance Market, Metro Cash & Carry, and other vertical ecommerce startups like Jumbotail, OfBusiness, and Shopkirana in the mix.
Kumar said, “There is a very increasing realization that middle and lower end Indian retail is a very different, and ecommerce retail model is the only efficient way to scale…We expect more talent, capital, and competition to come into B2B e-commerce. However, building on the ground supply chain, merchandising, capabilities and customizing according to the region, demand will take time.”
The company said its expansion plan continues. “We will continue to expand that business in terms of our geographic presence, especially in food and pharma,” Gupta said.
Udaan is also piloting to set up offline fresh and grocery retail stores in Bengaluru through franchises, people aware of the development said.
“These are small experiments which we keep doing,” Kumar said.
Udaan had raised $585 million in October from Altimeter Capital, Tencent, Hillhouse Capital, GGV Capital and Citibank, along with existing investors Lightspeed Venture Partners and DST Global.
Unorganized retail, which is Udaan’s target segment, will be a dominant category, even as its share will go down slightly from 84% to 77% in the next 5 years, according to Redseer Consulting. In FMCG and grocery, their contribution will continue to be almost 90%, the report said. Organised retail, online and offline, is poised to grow from 16% to 22%, the report said.
Last week, ET had reported that large technology companies are leveraging mom and pop shops in smaller cities for their broader commerce foray by providing everything from technology-backed sourcing, supply chain, financial services, to value-added services.
The current channels for trade in India have multiple pain points, including pricing opaqueness, delivery inefficiency, limited access to goods, as well as lower access to capital, which affect both buyers and sellers.
Udaan said it is collaborating with external lenders to further scale its financial services business, instead of deploying capital solely from its own books. “We are getting a large amount incoming from suppliers of capital who want to tap into small business market of India, but typically haven’t had either the access,” said Gupta. Udaan also offers logistics, SaaS, marketing, sales and distribution services to retailers and manufacturers.