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In January, a report from research firm Bernstein showed that Amazon India's user growth was only 13 percent in December 2023, primarily due to its more premium offerings compared to its peers.
Basil aims to reimagine homeware & kitchenware for Millennials and Gen Alpha. It looks to utilize the funds to bolster its direct-to-consumer (D2C) play, expand reach via e-commerce channels and expand product portfolio.
Delhivery expects volatility in its revenue and margin profile in the near term, according to CEO Sahil Barua. He cautioned against using the Q3 profit after tax number to forecast future performance and did not provide guidance for profitability. Barua emphasized that Delhivery will achieve its overall revenue and profitability targets over time, but urged caution in using this quarter as a model.
After an expected spurt during the festive season, ecommerce sales saw a larger-than-usual dip in December. This and more in todays ETtech Morning Dispatch.
Across categories—from electronics and accessories to fashion and household items--there was a slowdown in December, a top industry executive said, adding the dip was steeper than usual after a festive month. The ongoing Republic Day sales, however, have brought some respite to online shopping platforms, with a spike in consumption demand as per early trends.