Jabong Out Of Picture, Flipkart To Focus On Myntra
Wednesday, February 5, 2020, 4:21 PM
Flipkart has shut down online fashion store Jabong and is focusing on Myntra, which it acquired in 2014, The Economic Times reported on Wednesday. Two years after being acquired by Flipkart, Myntra had acquired Jabong in a deal estimated to be worth $70 million in July 2016. The website and app of Jabong are redirecting users to Myntra.
Alibaba Singles' Day Sales Hit $12 Billion Within First Hour
Monday, November 11, 2019, 10:17 AM
Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles' Day shopping blitz hit 84 billion yuan ($12 billion) within the first hour, up 22% from last year's early haul of 69 billion yuan. Alibaba saw sales worth $30 billion on its platforms on Singles' Day last year, dwarfing $7.9 billion US online sales for Cyber Monday.
Online shoppers put purchases on hold
Monday, September 16, 2019, 2:57 PM
Consumer spending on online shopping sites is estimated to be down by about a fifth in the first-half of the year to June as etailers have cut discounts and the growth slump has hit buying sentiment across sectors, according to a report by market research firm Kantar. "The overall economic slowdown is reflecting in consumer sentiment with respect to online shopping," said the source.