Asmita Dey

Asmita Dey covers new economy at Financial Express.

Articles By Asmita Dey

138 Articles

Driving Demand: Keeping it festive, small-town India is a big shopper online

They’re seeing customers from Jhumri Telaiya, Cumbum Thottiyam, Tawang Jaunpur and Mokokchung transact on their marketplaces.

Fashion retailer Cantabil that sells men’s apparel said tier-2 and tier-3 cities have contributed about 80% of the sales.

On track to become Ebitda and cash positive by March 2021: Saurabh Kumar, founder, Grofers

Since the lockdown, we have acquired 18 lakh new customers and more than 70% of those who shopped with us in the first month of the pandemic are still there.

We expect this trend to continue in the coming months as there seems to be a natural demand for groceries online.

We are on track to become Ebitda and cash positive by March 2021: Saurabh Kumar, Founder, Grofers

Customers are making planned monthly purchases instead of going for top-ups. We have also seen an increase in demand for our private label products as value-driven products have become highly relevant in the current scenario.

We expect this trend to continue in the coming months as there seems to be a natural demand for groceries online.

Cinema theatres set to resume operations this week, several releases lined up

Although a mix of Hindi, regional and international movies are in store to keep the show running, big releases will be critical to get businesses back on track, Bijli said.

PVR is opening 496 screens across 10 states and four union territories starting October 15.

Amazon readying for big play in Indian payments market with sizeable capital infusion

To this end both players, as also Walmart/Flipkart-owned PhonePe have, over the last couple of years, been working to build a presence at every storefront across the country.

Earlier this year, Amazon had invested about Rs 1,355 crore in the payments entity.

Pandemic push: OTTs place their bets on regional content

The platform is mooting creating originals in Telugu at a later stage as Viacom 18’s Colors Telugu channel has a considerable base in the market.

The firm announced an upcoming slate of 25 original series and two direct-to-digital releases taking the total number of such films to three. (Representative image)

WhiteHat Jr. deal will help us accelerate our international expansion: Byju Raveendran

But since it is platform plus content, the entry barrier is quite high for someone else to create an expansive library of content.

There is an increase across metrics and we have seen conversion rates going up.

Edtech, food delivery spaces attract bulk of investments

Investments, which had slowed considerably in May and June, falling below $170 million, gathered pace in July and August when firms raised close to $800 million.

Covid fallout: More eateries could shut shop as customers continue to stay away

“Delivery cannot be the mainstay. We did contemplate shutting a few more outlets but so far our landlords have been supportive,” says Mukherjee. However, the company has had to let go of some employees.

In the organised sector, it is the dine-in segment that brings home the bacon.

Valued at $11 billion, Edtech player Byju’s is a class act

The investment – in which existing investors Tiger Global, General Atlantic and Owl Ventures also participated – values the Edtech player at $10.8 billion.

M&E could generate 8 million jobs by 2025

EY expects the M&E industry to make revenues of Rs 2.42 lakh crore by 2022, suggesting there's scope for much more work

Experts estimate India is churning out 1.5 lakh hours per year of television content every year.

Covid-19 aftermath: Owners relent on rentals but no end in sight for retailers woes

A spokesperson for Mumbai-based R City Mall, which re-commenced operations on August 5, said consumption levels are at 60% of pre-Covid levels. The company is still in discussion with its tenants for re-neogitating rents.

Dream11 wins IPL title sponsorship for Rs 222 crore

Vivo India had paid a whopping Rs 2,199 crore to acquire the IPL title sponsorship rights for five years starting 2018

This could adversely impact the brand value of IPL and lower BCCI’s bargaining power.

Setback for Vedanta Group: Madras High Court upholds closure of Sterlite Copper plant at Tuticorin

After 13 people were shot dead by the police on May 22, during a protest against the plant, the state government shut it down on May 28, alleging violation of environment laws.

With theatres closed, OTTs make hay

Analysts at research firm Media Partners Asia estimate that India had 27 million paid online video subscribers in April

As experts say, streaming platforms allow viewers to try out films.

What and how consumers are buying in time of Covid

Bill values are higher compared to pre-Covid as consumers increasingly opt to buy all products in a single visit, said chief customer officer Uma Talreja.

OYO reaches 30% of pre-Covid occupancy on bookings by millennials, SMEs

In October, OYO had announced a fresh $1.5-billion financing round with participation from founder Ritesh Agarwal-led RA Hospitality Holdings and other investors.

“We expect budget hotels to return sooner compared with luxury hotels,” Kapoor said.

Vivo exit: BCCI has little time to find sponsor for IPL

Vivo India, a subsidiary of China-based handset maker Vivo, had paid a whopping Rs 2,199 crore to acquire the IPL title sponsorship rights for five years starting 2018 — a staggering 454% higher than the contract with Pepsi

The withdrawal of Vivo and expected muted spending by other Chinese brands also mean official broadcaster Star India will take a significant hit on advertising revenues.

OTT: Indians might be wiling to pay for content sooner rather than later

The cost of user acquisition in a bundled pack today is borne by the telcos who also pay the OTT platforms a certain amount per active subscriber.

Dil Bechara becomes huge hit on Disney+Hotstar! Sushant Singh Rajput’s last film garners record viewership

While the young actor’s sudden demise and the overwhelming sympathy has been a factor, the surge in viewership can be also be attributed to the fact that the film is not behind a paywall.

Shailesh Kapoor, CEO at Ormax Media estimates the AVOD (advertisement-based video on demand) segment makes up about 40%-60% of Hotstar’s user base.

COVID-19 aftermath: Wow! Momo to shut 25-30 outlets by September, says CEO Sagar Daryani

The company has been able to recover only one-third of its business so far and the localised lockdowns have hindered full operations.

Going ahead, the strategy will be to focus on deliveries and takeaways, Daryani said.

Expect to end up shutting two or three restaurants: Olive Group of Restaurant’s AD Singh

The company which owns brands such as SodaBottleOpenerWala is focusing on thinking out of the box and enhancing the customers’ delivery experience

Dining out is incomplete without the service of alcohol.

Tough times: Footfall tepid, businesses continue to struggle amid Covid

Time spent per consumer at malls has dropped to an hour or less against two to three hours during regular times.

The group’s malls were hoping to launch ‘end of season sale’ (EOSS) starting July 15 but it has now been shifted online for major markets like Bengaluru due to lockdown in Karnataka.

Frequency mismatch: Radio firms eye govt help to stay tuned

Prashant Panday, MD & CEO at ENIL (Entertainment Network India), told FE that the firm is “definitely evaluating several cities that appear to be unviable but a lot will depend on what relief authorities provide to broadcas

ENIL runs 73 Radio Mirchi stations across 63 cities and slipped into the red in Q4FY20 and the company posted net losses of Rs 2.15 crore, reversing net profits of Rs 19.80 crore reported a year ago.

JioMart adds to its product range to compete with e-commerce majors Amazon and Flipkart

Reliance Retail whose growth model is ‘based on partnerships with small merchants and shopkeepers’ has also ‘successfully piloted’ the JioMart grocery model with kirana partners.

JioMart will cover more cities, customers and expand to more categories in the coming years besides strengthening collaboration with more brands, businesses and entrepreneurs.

Internet firms see slower fund flows with just $480 million coming in 3 months

Last month, Byju’s raised a small amount from US-based Bond, driving up the ed-tech firm’s valuation to an estimated $10.5 billion.

Discounts galore but consumers not ready to loosen purse strings

Biba is planning to postpone its mid-season sale till the end of July, which, otherwise, took place in June.

Store walk-ins are minimal but online sales are picking up —prolonged work from home and Zoom calls have made some room for wardrobe reshuffling.
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