Tag: E-commerce

  • E-Commerce giants dish out exclusive offers this Leap Year

    E-Commerce giants dish out exclusive offers this Leap Year

    MUMBAI: Even as e-commerce giants lure customers via various discount offers throughout the year, this leap year the companies have found yet another reason to attract more shoppers. 

    With an extra day added to this year in 29 February, e-commerce sites are poised to take advantage in order to boost sales by offering high discount rates. Websites like Askmebazaar.com, Amazon.in, Snapdeal.com, AmericanSwan.com, Zimmber.comand Paytm.com are offering special discounts on 29 February with an aim to pump up sales. 

    Askmebazaar.com, an online marketplace for shoppers has come up with exclusive leap year deals by offering up to 70 per cent off on every item. On the other hand, Snapdeal.com is offering free data and bank discounts on Infocus smartphones.

    Buyers will be able to avail offers of up to 65 per cent off plus 100 per cent cashback on every 29th order on AmericanSwan.com. The leap deal is also available on sites like Jabong where clothing, footwear and accessories have upto 80 per cent off, 20 per cent off and one per cent off respectively. Meanwhile, Shopclues.com is providing flat 77 per cent off on daily essential combo packs. 

    Grand appliances sale by Amazon.in is offering upto 50 per cent off on top appliances. It is also offering 25 per cent off on Lenovo, Asus, dell laptops and two in ones. Not the one to be left behind, Paytm.com is also offering mobile recharge offers where customers can avail Rs 65 cashback on every recharge of Rs 500.

    Moskart.com and Cubishop.com, the marketplace for consumer electronics industry is offering exclusive offers for the year’s extra day. Moskart.com is offering half price on mobile and mobile accessories, whereas Cubishop.com will be selling mobile charger for Samsung and Android mobiles for just Rs 150. 

    Zimmber.com, the only site that provides handyman services like electrical, AC, plumbing et al has come up with mega offers for 29 February by offering flat Rs 444 off on salon spa, car spa and pest control. It is also offering Rs 333 off on sofa spa, Rs 222 off on air conditioner services and Rs 555 off on home spa. 

    The online eyewear portal Lenskart.com is also eyeing more customers by giving customers 29 per cent off plus 29 per cent cashback on every purchase.

  • E-Commerce giants dish out exclusive offers this Leap Year

    E-Commerce giants dish out exclusive offers this Leap Year

    MUMBAI: Even as e-commerce giants lure customers via various discount offers throughout the year, this leap year the companies have found yet another reason to attract more shoppers. 

    With an extra day added to this year in 29 February, e-commerce sites are poised to take advantage in order to boost sales by offering high discount rates. Websites like Askmebazaar.com, Amazon.in, Snapdeal.com, AmericanSwan.com, Zimmber.comand Paytm.com are offering special discounts on 29 February with an aim to pump up sales. 

    Askmebazaar.com, an online marketplace for shoppers has come up with exclusive leap year deals by offering up to 70 per cent off on every item. On the other hand, Snapdeal.com is offering free data and bank discounts on Infocus smartphones.

    Buyers will be able to avail offers of up to 65 per cent off plus 100 per cent cashback on every 29th order on AmericanSwan.com. The leap deal is also available on sites like Jabong where clothing, footwear and accessories have upto 80 per cent off, 20 per cent off and one per cent off respectively. Meanwhile, Shopclues.com is providing flat 77 per cent off on daily essential combo packs. 

    Grand appliances sale by Amazon.in is offering upto 50 per cent off on top appliances. It is also offering 25 per cent off on Lenovo, Asus, dell laptops and two in ones. Not the one to be left behind, Paytm.com is also offering mobile recharge offers where customers can avail Rs 65 cashback on every recharge of Rs 500.

    Moskart.com and Cubishop.com, the marketplace for consumer electronics industry is offering exclusive offers for the year’s extra day. Moskart.com is offering half price on mobile and mobile accessories, whereas Cubishop.com will be selling mobile charger for Samsung and Android mobiles for just Rs 150. 

    Zimmber.com, the only site that provides handyman services like electrical, AC, plumbing et al has come up with mega offers for 29 February by offering flat Rs 444 off on salon spa, car spa and pest control. It is also offering Rs 333 off on sofa spa, Rs 222 off on air conditioner services and Rs 555 off on home spa. 

    The online eyewear portal Lenskart.com is also eyeing more customers by giving customers 29 per cent off plus 29 per cent cashback on every purchase.

  • FMCG, e-commerce, telecom & auto to boost Indian AdEx by 15.5% in 2016: GroupM

    FMCG, e-commerce, telecom & auto to boost Indian AdEx by 15.5% in 2016: GroupM

    MUMBAI: India’s advertising investment is predicted to reach an estimated Rs 57,486 crore in 2016, which is a growth of 15.5 per cent for the calendar year 2016 over the corresponding period in 2015, according to GroupM’s bi-annual advertising expenditure futures report This Year Next Year (TYNY).

    The last calendar year closed on a promising note, with the advertising expenditure in India closing at Rs 49,758 crore, growth of over 14.2 per cent over 2014.

    The growth will come from the FMCG sector as it continues to remain the most dominant sector with a 28 per cent share of the AdEx. Despite facing volume pressure, the sector is expected to continue ad investment aided by the softening of commodity prices.

    In 2016, e-commerce ad spends are expected to be high on the back of increasing competition, market expansion and newer players entering the space. Many leading traditional retailers will be expanding their e-commerce presence in 2016 even as consolidation continues in the sector. Another exciting development is the opening up of e-commerce as a platform for advertising, which will see further traction in 2016.

    What’s more, with the advent of 4G services in India, telecom service providers are expected to roll out extensive marketing campaigns across media. This roll out will also see global and domestic handset manufacturers launching new models of 4G/ LTE handsets. Another big contributor to the Indian AdEx this year will be the Auto sector, on the back of multiple launches across both four-wheelers and two-wheelers.

    GroupM South Asia CEO CVL Srinivas said, “India is the fastest growing ad market among all the major markets of the world. 2015 was the best year for ad spend growth we’ve had in the last five years. While global headwinds are building up in the new year, there are a number of positive factors that will help the Indian ad sector grow at higher levels in 2016. The GroupM TYNY report released today highlights these factors. While FMCG, Auto and e-commerce, which have been the top sectors contributing to ad growth in 2015 will continue to invest, Telecom, BFSI and the Government sector will see a ramp up. Events like the T20 World Cup, IPL and many state assembly elections will give a further impetus to ad spends. While digital will remain the fastest growing platform, India is one of the few large markets where all traditional media platforms will show positive growth.”

    GroupM South Asia chief growth officer Lakshmi Narashimhan added, “With significant number of users accessing internet primarily from a mobile device, ad-spend on mobile will become as large as the digital AdEx from two years ago. With digital media achieving audience reach numbers that are next only to television, multi-screen planning is the order of the day. We have seen focused targeting of digital and native advertising with programmatic buying over the last two years, and this momentum will continue in 2016, as automation increases.”

    GroupM estimates the Digital AdEx to grow by 47.5 per cent in 2016 to Rs 7,300 crore from the earlier Rs 4,950 crore. A significant part of this growth is on the back of higher investments in cross-screen campaigns. The digital AdEx is estimated to take a 12.7 per cent share of the total AdEx in 2016. However TV still leads the pack with 47.1 percent contribution to the total AdEx, which is a growth from 46.3 per cent in 2015. On the otherhand print advertising will see a slight decline in AdEx from 32.4 per cent share of the total pie in 2015 to 29.7 percent in 2016.

    2016 will see Video on Demand (VOD) services gaining popularity in India. The Asia Pacific region is expected to overtake Western Europe as the second largest market for VOD services by 2020, fuelled by rapid growth of smart phones in China and India. With the recent Netflix service launch in India, several domestic and international players will actively market their VOD services and acquire customers in the next 12 to 24 months.

    2016 is estimated to be a better year for newspapers than 2015. The increase in ad spends expected from print heavy sectors like Auto, BFSI and the Government sector augurs well for newspapers. Regional advertising of Telco and FMCG brands will benefit language dailies. While print as a medium is facing a lot of pressure from digital there is still headroom for growth in certain pockets and amongst certain audience clusters.

    While Radio is expected to grow at a little over 10 per cent, there is scope for the medium to pick up towards end 2016 when most of the new stations (set up after Phase III licenses, round I were issued) are fully operational. Digital audio platforms are gaining in popularity, opening up a new format for radio.

    There has been an upswing in Cinema Advertising in the last few years, which will continue in 2016 with an estimated 25 per cent growth in ad spends. Recent acquisitions by larger multiplex chains will help create a far richer viewing experience for consumers, giving brands another avenue to capture their target audience. The medium can expect more brands to come on board with longer term deals if they invest in measurement and build more accountability. At present Cinema advertising is less than one per cent of the total ad spend.

  • Festive season: TV ad spend estimated to touch Rs 70 billion

    Festive season: TV ad spend estimated to touch Rs 70 billion

    Seasonaliity in ad spends is a phenomenon that most Indian marketers are familiar with. Whether you have the rash of heat countering products which pop up on your TV screens during the summer months. Or whether it is the gaggle of brands that roll out the red carpet and bring out their tooting horns during the festive season of Diwali every year. They conserve their ad rupees for these periods when the consumer is willing to spend but wants to be guided or lured in the right direction through messaging.

     

    As per indiantelevision.com’s analysis, this festive season (September, October, mid-November) , advertisers are expected to spend close to Rs 70 billion on television commercials alone.

     

    “Last year, the festive quarter saw television channels garnering nearly 35 to 40 per cent of their annual total ad revenue. One would expect the same from this year, as it is as high as it can get,” says media planning and buying expert Karthik Lakshminarayan.

     

    KPMG’s entertainment industry report for Ficci in 2015 predicted that television would account for Rs 175 billion in ad spending. Going by that yardstick, then TV advertising during the festive season would touch Rs 7,000 crore this year.

     

    When it comes he big spenders, FMCG seem to be stealing the show. “FMCG ad spending rules the the roost, and e commerce are the new kids on the block. FMCGs command 50 per cent of the ad spends while E-Commerce offer another 10 per cent,“ says Lakshminarayan. That would mean FMCG spending is likely to scale Rs 3500 crore on television ads.

     

    Although market analysts admit that E-Commerce players have emerged as big advertisers this season and have raised the bar for the rest of the ad-spenders over all, their contribution to television ad revenue is lesser than last year.

     

    Even as their total ad spend for this festive season has risen to Rs 2000 crore, only Rs 700 crore of that is going to TVCs on channels.

     

    Last year, e Commerce players had according to estimates spent close to Rs 1300 crores on television in the festive quarter. This year only 35 per cent of their total festival spends has been allocated to television, as compared to 60 per cent last year, shares a veteran media planner with indiantelevision.com.

    Having said that, the big players in E-Commerce continue to be strong on the top  television properties.

    “If you look at the slots, all the top properties in television are blocked with ecommerce brands. Given the festive season, the ad slots are going at a premium rates and the ecommerce brands are lapping them up at the higher rates,” says Havas Media Group-India and South Asia, CEO, Anita Nayyar, adding that thanks to these brands the ad rates continue to stay up even with the shrinking ad inventory.

    “While the increase in ad spends is mainly due to E-Commerce, the contribution from the other section of the advertisers like automobiles is expected to pick up as well. The revenue from traditional spenders for this season like jewellers and retailers is almost stable,” informs media analyst and IIM Calcutta professor  Chandradeep (CD) Mitra.

     

    In terms of channel genres, Hindi GECs maintain their lead as advertiser’s favourite with an approximate share of 27.5 per cent of the total spends, with regional channels following.

     

    An order that is directly proportional to the channels’ viewership ratings. According to the FICCI Industry report 2015, Hindi GECs command over 31 percent of the total viewership pie chart followed by regional channels at 15.9 per cent.

     

    Amongst the regional channels, Marathi ad slots are the most expensive to buy, says Lakshminarayan. “Maharashtra rates are higher indexed than other regional markets, and their rate of increase is seemingly more than other markets.”

     

    With the new BARC ratings inclusive of rural data, one can expect an even further increase in their ad spends, market analysts predict.

     

    The news channels too grabbed eyeballs thanks to the Bihar elections coinciding with the festive week, and therefore have gotten due attention from advertisers as well. “News was there in the limelight due to Bihar, that worked well for the retail advertisers looking to put their name out during the festive season as well,” says Nayyar.

  • E-commerce ad wars are the result of marketing myopia: experts

    E-commerce ad wars are the result of marketing myopia: experts

    MUMBAI: Come festival time and brands, backed by their army of creative sleuths, leave no stones unturned to make hay while the sun shines. Using the same peg to sell an item better than the other naturally spells competition, and sometimes this can even lead to ad wars, as was seen recently in the case of e-commerce brands Flipkart, Snapdeal and Amazon’s ad campaigns, where each campaign blatantly took digs at the other to grab eyeballs.

     

    It’s that time of the year again! With Navaratri, Durga Puja, Ayudha Puja and Diwali knocking on doors, e-commerce brands have gone full throttle to promote their festival offerings.

     

    Each e-commerce player is vying to outshine the other by their creative campaign and giving away aggressive discount offers to customers. Needless to say, the campaigns are quite aggressive as well, with the latest chapter of ad war unfurling upon the front pages of leading daily newspapers.

     

    The current buzz in the industry is about the Snapdeal print ad in The Times Of India that reads, “You don’t need a billion offers to amaze you. You just need to snap the best ones. For the best offers this Diwali, shop only on Snapdeal.”

     

    Reading the lines in isolation probably doesn’t ring a bell. And that’s where its strategic placement on the jacket advertisement page comes in. Placed between Flipkart and Amazon.com, it is very clear that Snapdeal is taking a dig at its rivals.

     

    While the word ‘billion” reflects on Flipkart’s Big Billion Sale, with the same font and colour, the word ‘amaze’ indicates at Amazon with the same font.

     

    It is clever use of copywriting skills to get one up on rivals, and at the same time entertain consumers with all the drama unfolding. However, one can’t help but wonder if in the mad race to outdo each other, is creativity being compromised?

     

    The Social Street founding partner and chairman Pratap Bose is of the opinion that in this game of tag between the major e-commerce ad campaigns, creativity does take a back seat. 

     

    “There is very little window to react to your competitors if you have to be ahead in this action – reaction war. Unless one is an absolute genius, it is very hard to come up with something new when you are so focused on what your competitors are doing,” he says. 

     

    Explaining further, he adds, “Festive seasons are an occasion to take advantage of, because purse strings are a bit loose and a lot of consumers do open up their wallets during this time. Having said that, it is the agency and the brand’s responsibility to woo the consumers with their products and offers instead of getting into unnecessary campaign wars against each other. I think that just cannibalises everyone in the ecosystem.”

     

    Taproot India co-founder and CEO Santhosh Padhi dismisses the on-going ad war between major e-commerce players as ‘short term thinking’ on part of the brands. “All these players have a short term vision. They lack long term vision to build a brand. I call this catalogue advertising and it can only serve the brands for a limited period. You can’t be going at it season after season,” says Padhi.

     

    The dearth of creativity too is evident from these so called ‘catalogue advertisements,’ he points out. “If you interchange the logos, I bet some can’t even tell which ad campaign belongs to which brand!” he jokes. “It is true that the consumers are interested in the deals, but the deals will stop someday or the brands will run out of them. Then the brand has to connect with its consumers with its USP. I haven’t seen these e-commerce players doing a brand campaign in recent times,” he says.

     

    On the other hand, R K Swamy Hansa CEO and IAA president Srinivasan K Swamy has no qualms with some clever copywriting war and feels its doesn’t take away from the creative aspect of ad making. “As long as it’s done tastefully, there is nothing wrong with some healthy competition reflected cleverly in their works,” says Swamy. “I don’t feel it reflects any lack of creativity,” he adds

     

    Swamy, interestingly observes that creators sometimes have fun through these cryptic ads, and it’s all in healthy competition. “Not just the agencies, but even the brands may have fun through these ads and it’s a nice way to grab the consumer’s eyeballs. They are also entertained through these exchanges, and this keeps them glued to the entire drama,” he shares, highlighting that these ad wars engage the consumers who anticipate how a major e-commerce player would respond to their competition. They may even take sides and promote loyalty to the brand through it.

     

    However, Bose begs to differ. “I don’t really think ad wars help these brands gain any loyal consumers for their products. Pepsi and Coke used to do this, and they continue to do so worldwide. If the digs are strategic like that, I have less issues with it, but I am not sure such is the case with these e-commerce brands. Taking digs at each other just for the sake of it, to say ‘I am better than you’ or ‘my offer is better than yours,’ doesn’t really cut too much ice with the end consumers,” he says, adding that if the agencies just want to have fun with each other at the expense of their client’s money, it is certainly not appropriate.

     

    “I think sometimes companies are quick to react to their competition, and miss the strategic outlook and their values. They sometimes fail to ask themselves if they have a USP in the market over their competitors. If you believe in your product and your USP, then I don’t think you need to be worried beyond a certain point,” Bose opines.

     

    Padhi too feels that consumers are much smarter than brands credit them to be. “By playing these pun game they think they have the consumers fooled, but today consumers are much smarter. They know what’s happening in the digital space is much more creative and exciting than these verbal backlash on newspaper front pages,” he says.

     

    So how should these brands approach the shopping season? “If they want to connect with the consumers long term, they have to connect at a brand level, and think beyond just the limited festive season. Festive promotions can be part of a larger brand campaign,” Padhi simply states.

     

    He further adds, “There are loyal consumers for brands like Nike and Adidas. They don’t switch brands if there’s a cheaper offer on the other because they have bought the philosophy of the brand. Ask any consumer of these e-commerce brands and they will not hesitate to switch if one site offers them a slightly better sale.”

     

    Citing the example of London based agency Adam & Eve DDB’s ‘Be Selfish’ Christmas campaign that won them the Grand Prix award at Cannes Lions International Festival of Creativity, Padhi says that festive campaigns can also be creative and trendsetting. “They ran a campaign urging consumers to spend on themselves derailing from the tried and tested, buy gifts for your family angle that most agencies take. It was also a holiday and festive campaign but so different. Why can’t we do something new like that for Diwali, instead of the same old offer formula?” he asks.

     

    Ogilvy and Mather creative director Sumonto Chattopadhyay is also of the opinion that brands tend to overplay the festive peg sometimes, and lose out on innovation. “The entire ‘capturing the favour of the festivity’ does become a bit repetitive at times. I suggest that we sometimes let go of a more overt way of promoting festive offers, and instead of pegging the campaign around festivities, focus on other things. Approaching campaigns as standalones and not part of the festive propaganda could be another way to stir clear of competition and cut above noise,” he suggests.

     

    Padhi also points out that a lack of funds sometimes compels a brand to think out of the box. “I feel that because these brands have a lot of money, they have the luxury of taking a dig at each other instead of building their brand value. I am sure if they have a limited funding they would be putting more thought into what’s working, what’s not, and what they should come to the market with,” he says.

     

    Whether or not these ad wars will lead to brand following by consumers or succumb to today’s ADHD (attention deficit- hyperactivity disorder) generation who are quick to forget and jump to the next bandwagon, only time will tell. But as Ogilvy and Mather chairman and creative director Piyush Pandey puts it, “If you and I sell something for five rupees, which one of us sells it better is decided by our unique ideas.”

  • E-commerce players’ 2015 ad spends in India pegged at Rs 3900+ crore: NASSCOM

    E-commerce players’ 2015 ad spends in India pegged at Rs 3900+ crore: NASSCOM

    BENGALURU: E-commerce players would have spent approximately Rs 3900 crore (or $600 million) in India on advertisement by the end of 2015, as per the second edition of the start-up report released by the National Association of Software and Services Companies (NASSCOM) and Zinnov.

     

    The report titled “Start-up India – Momentous Rise of the Indian Start-up Ecosystem” was released on the side-lines of NASSCOM Product Conclave 2015 in Bengaluru.

     

    As per the report, the total funding in the India based start-ups is estimated to be nearly $5 billion by 2015.

     

    With 100 per cent growth in number of private equity, venture capitalists, angel investors along with a 125 per cent growth in funding over last year, the Indian start-up ecosystem has risen to the next level says NASSCOM. Various central and state government start-up initiatives are further supporting this progressive phase of start-ups in India.

     

    The Indian technology start-ups landscape has seen tremendous growth in the emergence of innovative start-ups and creative entrepreneurs. In terms of providing a conducive ecosystem for the start-ups to thrive, India has moved up to third position and has emerged the fastest growing base of start-ups worldwide. India is one amongst the first five largest startup communities in the world with the number of start-ups crossing 4,200, a growth of 40 per cent, by the end of 2015.

     

    NASSCOM president R Chandrashekhar said, “The maturing Indian start-up ecosystem is now contributing to the Indian economy in many ways. Apart from positively impacting the lifestyles of citizens involved, start-ups are now creating innovative technology solutions that are addressing the key social problems that India is facing and creating significant growth opportunities for every stakeholder.”

     

    Some of the key highlights of the report are as follows:

    India is the youngest start-up nation in the world- 72 per cent of the founders are less than 35 years old.

    More than 50 per cent of the 1200 startups focus on e-commerce, consumer services and aggregators.

    Nine per cent female founders and co-founders in startup ecosystem.

    Number of accelerators grew by 40 per cent from approximately 80 in 2014 to approximately 110 in 2015.

    Total funding in 2015 saw a growth of approximately 125 per cent over 2014.

    Number of PE/VCs investments have grown by 100 per cent over 2014.

    80,000 jobs created by startups.

  • CNN International to air special coverage on growing India

    CNN International to air special coverage on growing India

    MUMBAI: CNN International will be featuring a special coverage week starting from 20 September on Growing India.

     

    In this special programming week, CNN will look at the auto sector as a barometer of India’s growing consumerism, its indigenous Silicon Valley changing gears to become a front running technology hub, the revival of ancient art form for modern markets and e-commerce lessons from traditional dabbawallas.

     

    CNN International correspondent Mallika Kapur will explore how India has evolved in the last decade and examine its growth indicators.

     

    CNN International South Asia sales director Sonali Chatterjee said, “Special theme weeks garner immense interest from both audiences and advertisers. India is at a very crucial cusp in its growth trajectory and our viewers will get to see its many emerging facets, while our advertisers will have the opportunity to engage with an audience of decision makers and influencers. We are proud to have the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, as a major advertiser with Growing India on CNN’s linear and digital platforms.”

     

    Growing India’s stories will be aired from 20 – 24 September in Connect The World at 8:30 pm and from 21-25 September in The Business View at 3:30 pm.

  • Asianet News CEO Chinta Shyamsundar quits; eyes e-commerce space

    Asianet News CEO Chinta Shyamsundar quits; eyes e-commerce space

    MUMBAI: Asianet News Network CEO and executive director Chinta Shyamsundar has put in his paper after a six year stint.

     
    Shyamsundar said, “It has been a very fulfilling experience with Asianet News Network and I will take with me fond memories of building this brand. With every end there is a new beginning and the same way I am about to venture into e-commerce that I have been very passionate about. In the current scenario the international live music business has gained tremendous traction and I am looking at entering that segment as well.”

     

    Prior to this, Shyamsundar was CFO and COO of Jupiter Media and Entertainment. He also held the position of head controlling at the Bengaluru International Airport.

    In his career spanning 25 years, Shyamsundar has garnered vast experience and is now venturing into e-commerce business that will focus on apparel and gifting vertical. Besides this, he will also venture into business consulting and setting up media assets.

  • Snapdeal appoints Amitava Ghosh as vice president – engineering

    Snapdeal appoints Amitava Ghosh as vice president – engineering

    MUMBAI: Snapdeal has appointed Amitava Ghosh as vice president – engineering.

     

    In his new role, Ghosh will lead the development of intuitive technology solutions for ease of accessibility and enhanced user experience on the marketplace. 

     

    Ghosh comes with over 17 years of experience in building scalable web based products and platforms for consumer internet and enterprises.

     

    Ghosh has spent several years working for a diverse set of organizations, both in India and USA, across Internet companies, medium strength organizations and Silicon Valley start-ups.

     

    Prior to his appointment at Snapdeal, Ghosh was the chief technology officer at Taxiforsure before the company’s acquisition by OLA Cabs. Previously, he headed the India Engineering team of Tribune Digital Ventures (TDV). He has also had a decade long stint at Yahoo where he was responsible for building platforms and user experiences for listings, media verticals, communities & Social products.

     

    Ghosh will work out of the company’s technology innovation centre in Bangalore.

     

    Ghosh said, “Snapdeal’s growth in the technology space has been unprecedented. The clarity of vision and rigorous effort behind strengthening the vertical is commendable. All our efforts are towards ensuring that we deliver best in class experience to our customers. My focus would be on in-depth analysis of consumer insights to develop best mechanisms for delivering delightful customer experience. I am excited to be a part of this dynamic team and look forward to a challenging but exciting journey ahead.”

     

    Snapdeal co-founder Rohit Bansal added, “Our vision is to build the most impactful digital commerce ecosystem in the country. We are building the strongest technology team at Snapdeal to create a future ready and innovative technology infrastructure. At Snapdeal, we believe that our business exists to serve our users and strongly feel that creating a frictionless buying and selling experience is key to our success. Customer service interface is one of the key verticals of our technology infrastructure and we are looking at strengthening it further to offer a superior experience to our customers We are delighted to have Amitava onboard and wish him a great journey ahead with Snapdeal family.”

     

    The technology team at Snapdeal is currently 1000 people strong and company looks at doubling it by the end of this year.

  • Q1-2016: NDTV digital segment sees 51% YoY growth; net loss at Rs 24.3 crore

    Q1-2016: NDTV digital segment sees 51% YoY growth; net loss at Rs 24.3 crore

    MUMBAI: Consolidating its transition to a digital media company from a pure television play, New Delhi Television’s (NDTV) digital business has shown a growth of 51 per cent YoY. 

     

    In Q1-2016, the company’s digital and e-commerce revenues account for 21 per cent of total group topline, up from 13 per cent, last year. This reflects the ongoing commitment and investments of the NDTV group into building key digital assets.

     

    However, in Q1-2016, NDTV reported a loss of Rs 24.3 crore as compared to Rs 1.5 crore of last year. Of the Rs 24.3 crore loss, Rs 11 crore pertains to the e-commerce business.

     

    Speaking exclusively to Indiantelevision.com, NDTV CEO Vikram Chandra says, “Last year Q1 results of NDTV was one of the best quarters since inception generally for Television business Q3 and Q4 are stronger compared to Q1 and Q2.”

     

    “One of the biggest achievements for us in this quarter is the fact that we successfully closed the funding of our two new ventures Gadgets 360 and Fifth Gear Auto. We have put in constant efforts since the last two years to enhance our digital business and valuation and we are extremely happy to have quality investors investing in the two new projects,” he adds. 

     

    The group has raised funds at a combined valuation of $80 million, wherein $50 million was allocated for Gadgets expertise and $30 million for the Fifth Gear Auto venture. NDTV’s other e-commerce venture, Indiaroots also raised an additional $5 million.

     

    “Overall NDTV’s digital business has expanded to over $160 million, which shows our emphasis towards digital,” asserts Chandra. 

     

    The investors who invested in NDTV’s e-commerce ventures Gadgets and Car & Bike include: Inflexionpoint co-founder John Scully, Genpact founder Pramod Bhasin, Sixth Sense Ventures founder Nikhil Vora, former Unilever chairman Vindi Banga, M&S Partners founder and director Hiro Mashita and other high-net-individuals (HNIs).

     

    The total revenue generated by the group from its various businesses in the current year stands at Rs 125 crore compared to Rs 151 crore of last year. According to the financial analysis, the group has also cut down its expenses too shows the financial analysis of Q1 2015 as the expenses registered in the current quarter is Rs 140.3 crore compared to Rs 141.7 crore of last year.

     

    The company’s marketing spends have gone up to Rs 21.98 crore in the quarter as compared to Rs 19.43 crore last year.

     

    Click here for unaudited financial report