Flipkart is connecting more than 5,000 offline

 Flipkart is connecting more than 5,000 offline
brand stores on its platform this festive season

 

~ To offer a large selection across Fashion, Large Appliances, Mobiles and Consumer Electronics categories, from leading retail brands

~ Plans to onboard 10,000 branded retail stores by the end of the year

 Flipkart, India’s homegrown e-commerce marketplace, continues to strengthen ecosystem partnerships and prioritise the interests of a large group of stakeholders, including customers, sellers, MSMEs, kiranas and offline retail stores. As the country starts preparing for the upcoming festive season and much-awaited Big Billion Days, Flipkart is connecting more than 5,000 offline branded retail stores from 300+ cities across the country on its platform. This includes small and large format brand stores offering products from fashion, large appliances, mobiles and consumer electronics as  part of this programme. Piloted in 2020, when the pandemic impacted these stores, this programme helps offline sellers to leverage Flipkart’s expertise and customer reach to help stores grow their business through technology support.

This holds importance for hundreds of local brands that will be able to showcase their selection and products to lakhs of customers beyond their local catchment area and grow their reach during an important festive period. Piloted in late-2020 for the fashion category, Flipkart’s programme has witnessed very encouraging growth this past year, which has led to the addition of the 3 new categories - large appliances, mobiles and consumer electronics. Flipkart is leveraging technology and advanced inventory management systems to enable these trusted retail stores with the goodness of e-commerce. It covers both metros and T2+ regions, solving the needs of both consumers and brands. Some of these include trusted branded retail chains such as Poorvika in the South region and CMM Arena in the state of Goa. The programme addresses the metro customers’ needs for faster delivery of the latest products and also enables aspirational consumers in Tier-2+ regions to get access to a much wider and latest branded selection. 

Speaking about this important initiative, Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, “At Flipkart, our priority lies in creating a meaningful ecosystem of partners that can reap the benefits of e-commerce, especially during the festive season. Today, we are proud to facilitate PAN-India consumer market access for over 5,000 branded retail stores, which enables them to embrace opportunities driven by the best technology. We look forward to scaling this programme over the next few months and making products from branded retail partners that may be available to a much larger audience across India.”

Speaking about the partnership with Flipkart, Uvaraj Natarajan, Founder & CEO - Poorvika, said, “Poorvika has garnered remarkable loyalty across 425+ stores in Tamil Nadu, Karnataka, Pondicherry, Mumbai, Pune and Trivandrum. Being a trusted offline retail chain and with an aim to grow our footprint across the country, we have partnered with Flipkart. This partnership will help customers to conveniently access all products available at a Poorvika retail store, on Flipkart. We believe our customers will benefit immensely courtesy of technology integration. We look forward to a good festive season with Flipkart.”

 Sharing his views on the partnership with Flipkart this festive season, Hari Kaul, General Manager CMM Arena, said, “CMM Arena is proud to bring a range of large appliances on Flipkart, with an aim to extend our digital presence and engage with customers across a larger geographical reach. This will enable a new phase of growth for CMM Arena as we grow our reach across the length and breadth of Goa through Flipkart.”

Through this programme, Flipkart is creating opportunities for branded retail stores to connect with consumers across the country to deliver the best products. This will continue to elevate the customer’s online shopping experience seamlessly, as people get access to larger selections through a safe and sanitised delivery process. This strategy further strengthens Flipkart’s product portfolio for the much-awaited festive season - especially the 2021 edition of The Big Billion Days.

Flipkart’s various ecosystem-focused initiatives and offline partnerships for this festive season include:

• Kirana for Delivery Programme: Focused on working with general trade stores as delivery partners, today has 100,000 Kiranas from across the country, enabling the delivery of millions of shipments during the festive season
• Flipkart Xtra: Introduced as a service marketplace for providing part-time job opportunities to individuals through an easy self-onboarding app on the Google play store.
• Authorised BuyZone Programme: Works with thousands of general stores as affiliate partners to assist customers in shopping online for their needs and simplifying their purchase journey on the Flipkart marketplace

Axis Mutual Fund launches ‘Axis Global Innovation Fund of Fund'

Highlights: -

·         An open ended fund of fund scheme investing in Schroder International Selection Fund Global Disruption (SISF) – a global equity fund that aims to provide capital growth by investing in companies worldwide that benefit from disruption

·         Disruptive growth is an opportunity for investors to capture significant value creation over time

·         SISF focuses on a broad set of sub-themes including fin-tech, e-commerce, environmental, healthcare etc.

·         Offers Indian investors an opportunity to participate in a globally diversified equity portfolio that can complement their Indian equity allocation

·         Minimum application (NFO) of Rs. 5,000 and in multiples of Rs.1/- thereafter

·         Benchmark: MSCI AC World (Net TR) (INR)

·         NFO date: May 10^th 2021 to May 21^st 2021

Axis Mutual Fund, one of the fastest-growing fund houses in India, today announced the launch of their new fund – ‘Axis Global Innovation Fund of Fund’. The fund will provide investors with an opportunity to invest in Schroder International Selection Fund Global Disruption, an equity fund that aims to provide long term capital growth by investing in companies worldwide that benefit from disruption. The New Fund Offer (NFO) opens for subscription from Monday, May 10 to May 21.

Disruption is ubiquitous. It transforms the way we live, displaces existing markets, and pioneers new creations we didn’t even know we needed. Today, disruptive forces are manifesting themselves faster than ever due to technological advancements, creating a rich and fast-growing universe of transformational companies with growth potential. Disruption is also changing the way the global economy operates and the rapid evolution of new companies is transforming the way they interact with their customers. Companies faced with disruption (from a new competitor or product) usually react by becoming either an enabler (the conduit for change), an adaptor (the positive respondent who seeks to amend their business or product range) or a denier (the incumbent who fails to adapt).

 

Schroder ISF (International Selection Fund) Global Disruption seeks to provide capital growth by investing in innovative companies that are redefining their industries or are successfully adapting to change. The fund is actively managed to access multiple disruption themes globally including – Environment, Automation, Healthcare, FinTech, Communication, Food & Water, New Consumer, Digitalization, and E-Commerce.

 

Exposure to global investment opportunities today is one of the most crucial aspects for investors to broaden their investment universe. Global investing also allows investors capture disruptive growth through various themes, many of which are not available on the listed markets in India. Global investing therefore diversifies the investment portfolio for investors and has the potential to improve their risk adjusted returns.

 

On the launch of the NFO, Mr. Chandresh Kumar Nigam, MD & CEO, Axis AMC, said “At Axis AMC, we have successfully been at the forefront of developing product innovations and creating diversified solutions that offer long-term wealth creation options for our investors. Thematic products allow investors to participate in important structural themes in a targeted manner. In that context, we are extremely excited to offer investors a product that captures one of the most significant themes of the current age – disruptive innovation precipitated by technological advancements and changes to the business environment. Companies that are bringing about and benefiting from these changes have the potential to generate high growth. The Schroders fund is able to scout for such companies on a global basis, giving us access to the best such ideas from around the world.”

 

Alex Tedder, CIO, Head of Global & Thematic Equities, Schroders Investment Management said, “We are truly pleased to extend our partnership with Axis AMC to another global fund. With our goals completely aligned, we wish to provide investors in India with best in class global products and Axis Global Innovation Fund of Fund is an important part of that objective.”

 

You can visit our website www.axismf.com or download mobile app ‘Axis Mutual Fund’ (Android/IOS) and start your investment journey now.

 

 

Simplilearn and Caltech CTME Launch

Simplilearn and Caltech CTME Launch 

Full Stack Web Development Post Graduate Program

·         Global learners access a comprehensive program in Full Stack Web Development  

● Exclusive membership Caltech CTME Circle network for graduates 

● Recognition for top three performers

Simplilearn, world's number one online bootcamp for digital economy skills training, today announced its collaboration with Caltech CTME (Caltech’s Center for Technology and Management Education), to offer a specialized online Post Graduate Program in Full Stack Web Development. The new certification program extends Caltech CTME’s open-enrollment offerings in software engineering, such as DevOps and cloud computing. 

The online Post Graduate Program in Full Stack Web Development brings together the academic excellence of CTME, the professional education function of Caltech, with Simplilearn's award-winning Blended Learning delivery model. The Blended Learning environment combines live online classes, self-paced learning, labs and projects, extensive peer-interaction, and 24/7 access to Teaching Assistants (TA's).  Masterclasses are taught by Caltech CTME instructors who have extensive real-world experience in coding and web-based architectures.

Along with a comprehensive curriculum covering the core concepts and the latest industry best practices, the program also provides Capstone Projects in four web-centric specialities: e-commerce, food delivery, entertainment, and healthcare. This blended learning approach ensures that the program participants receive an in-depth understanding of the fundamentals and abundant opportunities for hands-on practice and learning. The learners can also get access to white papers and network with a peer group of global professionals. 

Speaking on the launch of the program, Anand Narayanan, Chief Product Officer, Simplilearn said, “As businesses move online and experience the benefits of digitization, it translates into the need for the developers of these digital solutions. There is a growing demand for full-stack developers who possess the knowledge of both back-end and front-end software, and all related technologies. With the ubiquity of the need for this job role and the breadth of technologies that are in high demand, the career prospects for Full Stack Web Developers are strong. It is also essential that full-stack developers keep up with new methodologies and changing technologies through constant upskilling. By introducing the PGP Full Stack Web Development program in collaboration with Caltech CTME, we, at Simplilearn, aim to create a work-ready workforce by equipping our learners with industry-specific skills for their development projects."  

"The world may seem like it is on pause as the COVID-19 pandemic continues, but technology is still advancing, and the skills gap between talent and job requirements is widening. This program offers a comprehensive curriculum and provides an opportunity for career growth in the Full Stack domain," said Dr. Rick Hefner, Program Director, CTME. "We are happy to extend our software engineering courses through Simplilearn, so aspiring software developers across the globe have an opportunity to take a certificate program from Caltech."

On completion of the course, learners will receive a joint industry-recognized certificate from Caltech CTME and Simplilearn. The top three performers in each cohort will receive a special acknowledgment. Graduates of the program will be granted eligibility for 25 CEUs (Continued Education Units) that can be applied to professional qualifications and employer development requirements. Other benefits include CTME Circle Membership and enrolment in Simplilearn's JobAssist job placement service.

Flipkart’s Ethnographic Study on

Flipkart’s Ethnographic Study on Regional Languages

Study OverviewFlipkart conducted an extensive ethnographic study spanning over several months to understand the importance of vernacular languages as a way to assist the users shopping online. This research uncovered various aspects of the three languages, their colloquial usage and patterns to understand consumer behaviour while shopping online. With the help of this comprehensive study, Flipkart aimed to delve deeper into the semantics of these three languages (Tamil, Telugu and Kannada) and establish crucial insights that helped in the development of multilingual capabilities on the platform.

Study Goals

• To understand the vernacular aspects that aid in adoption of online shopping
• To uncover the consumer behaviour (read/write/watch) while shopping online
• To understand the consumer’s perspective on using apps in native languages

Approach

1. Defining our TG: For the survey, we selected participants in the age group of 25-35 belonging to Sec C, D income bracket and earning between Rs 8,000-20,000 per month. The sample also looked at areas such as usage of sub-Rs 12,000 smartphone with low memory space but are digital natives
2. On-ground interactions with the participants: The research was carried out in three cities - Mysore (Karnataka), Salem (Tamil Nadu) and Visakhapatnam (Andhra Pradesh) since Kannada, Tamil and Telugu apart from Hindi are some of the most widely spoken languages in India.
3. Methodology: Participants were asked to display their mobile apps usage to test their comprehension of online shopping followed by in-session interviews and showcasing prototypes

Outcome

To onboard the next 200 million consumers into the fold of ecommerce, it becomes imperative to offer native language experience in the form of an interface to provide comfort and aid in decision making.

1. High usage of native language platforms: Consumption of native language platforms for socialising was noticed to be higher as compared to other language platforms. This was also a factor of high usage and display of native script across 3 languages on displays, boardings boards.
2. High usage of Kanglish/Tamlish/Telgish (English script but native meaning) typing: Participants showed increased affinity towards using hybrid words that are a mix of English and a regional dialect.
3. Mix of Translation & Transliteration: Participants showed a tendency to use a mix of translation and transliteration of words without realising in the same sentence. For instance, participants often use English words (delivery, cash, stock, etc) and native words (dinasi, etc) in the same sentence.  
4. All three languages have distinctive characteristics: While participants of Kannada and Tamil languages considered representation of categories on ecommerce in native script and in a transliterated form, Telugu speakers preferred the same in English script. Similarly, Kannada speaking users preferred to use Standard Units (SI Units) in native language as against English preferred by Telugu and Tamil speaking users.

Flipkart Group announces the launch of

Flipkart Group announces the launch of Flipkart Wholesale

aimed at transforming the kirana retail ecosystem

Acquires a 100% interest in Walmart India, which operates the Best Price cash-and-carry business to strengthen capabilities and business-to-business service offering;

Will leverage talent, strong technology backbone, deep merchandising expertise and logistics infrastructure to accelerate growth and prosperity for kiranas and MSMEs

The Flipkart Group, India’s homegrown e-commerce group, today announced the launch of Flipkart Wholesale, a new digital marketplace that will help transform the kirana retail ecosystem in India by leveraging cutting-edge and locally developed technology. As part of this launch, the Group also announced the acquisition of 100% interest in Wal-Mart India Private Limited, which operates the Best Price cash-and-carry business, to leverage the strong wholesale capabilities of the company and enable growth and prosperity for kiranas and MSMEs.

Kiranas and MSMEs are central to India’s retail ecosystem and Flipkart Wholesale will focus on meeting their needs by providing small businesses a wide selection at significant value, powered by technology to make their lives easier. Whether in grocery, general merchandise or fashion, these businesses will have one-stop access to an extensive selection of products with attractive schemes and incentives, supplemented with data-driven recommendations for stock selection, delivered through a fast and reliable network to drive greater efficiencies and better margins.

In addition, kiranas and MSMEs will benefit from access to easy credit options and opportunities for new income generation through various Flipkart initiatives, creating new ways to catalyse growth. These opportunities are especially relevant at this time as kiranas and MSMEs work towards achieving scale and profitability following the impact on business due to the COVID-19 pandemic.

Flipkart Wholesale will leverage Flipkart’s strong homegrown technology capabilities, extensive leadership in the consumer e-commerce segment, and a unique understanding of the industry in India. The business will also utilise the Flipkart Group’s vast supply chain infrastructure to reach kiranas and MSMEs across the country. Flipkart Wholesale will draw on the merchandising experience of the Walmart India team, its strong relationships with brands, deep DNA of servicing kiranas and 12+ years of operating Best Price stores. One of India’s largest cash-and-carry businesses, Best Price currently supports more than 1.5 million members, including kiranas, horecas and other MSMEs, and has long-standing supplier diversity and development programs. Flipkart Wholesale will continue to develop technology tools, and ecosystem partnerships to help Indian commerce unlock its potential.

Top Indian brands, local manufacturers and sellers have partnered with Flipkart Wholesale to ensure the availability of an exhaustive range of products and merchandise for kiranas and MSMEs. At the same time, partners will benefit from broader reach across the country, micro-market insights to enable effective inventory planning and new product development, and cost-effective distribution.  

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “As the e-commerce pioneer in India, the Flipkart Group has transformed the shopping experience for millions of Indian consumers. With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics and finance to small businesses across the country. The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen our position to address the needs of kiranas and MSMEs uniquely. With this development, the Flipkart Group will further build upon the synergies across its businesses to drive greater value and choice for end-consumers and businesses alike.”

Judith McKenna, President and Chief Executive Officer, Walmart International, said, “For over a decade, we’ve been committed to India’s prosperity by serving kiranas and MSMEs, supporting smallholder farmers and building global sourcing and technology hubs throughout the country. Today marks the next big step as Walmart India’s pioneering cash-and-carry legacy meets Flipkart’s culture of innovation in the launch of Flipkart Wholesale. By leveraging each other’s strengths and unique expertise, this combined team will break new ground in their shared mission to help Indian businesses grow and succeed. We look forward to a bright future for Flipkart Wholesale.”

Flipkart Wholesale will launch its operations in August 2020 and will pilot services for the grocery and fashion categories. It will be headed by Adarsh Menon, a veteran at Flipkart. Sameer Aggarwal, Chief Executive Officer at Walmart India, will remain with the company to ensure a smooth transition, after which time he will move to another role within Walmart.

Adarsh Menon, Senior Vice President and Head - Flipkart Wholesale, said, “Flipkart Wholesale will further deepen and build on Walmart India and the Flipkart Group’s commitment to kiranas and MSMEs over the last several years. Thousands of kiranas have already partnered with Flipkart to enhance their business and income streams. I am excited to be part of this new initiative that allows us to expand opportunities for growth for them and bring further prosperity to their lives. We will leverage the synergies between Flipkart and Walmart India as we stay focused on transforming the wholesale experience for kiranas and MSMEs.”

Sameer Aggarwal, Chief Executive Officer, Walmart India, said, “This move recognises the critical role that kiranas and MSMEs play towards India’s economic prosperity and growth, and the coming together of Walmart India with Flipkart Wholesale will provide an opportunity to build upon the 12+ year legacy of the Best Price brand serving kiranas across India.”

With the acquisition of the Walmart India business, its employees will join the Flipkart Group and the home office teams will integrate over the next year. The Best Price brand will continue to serve its 1.5 million+ members via its omnichannel network of 28 stores and e-commerce operations.

Flipkart brings back more than 90% of

Flipkart brings back more than 90% of its sellers on to the platform; Sees huge traction for sign-ups from new MSME sellers across India for eCommerce

Uttar Pradesh, Maharashtra followed by West Bengal MSMEs lead the way to join e-commerce

Flipkart, India’s homegrown e-commerce marketplace, has continued to be at the forefront of fighting the global pandemic, by partnering with their network of sellers, MSMEs and  artisans to deliver products to consumers at their doorstep through its safe supply-chain. Since April 2020, Flipkart has enabled more than 90% of its sellers to resume business on the platform. Sellers on Flipkart are able to leverage the benefits of nationwide market access along with an efficient, transparent and truly democratic functioning of their marketplace business.

The impact of pandemic has urged businesses across the country to rethink their usual mode of operating and identify newer ways to function. Local MSMEs across the nation have realised the true value of e-commerce that enables them to stay connected with millions of customers.  As a result, Flipkart has seen 125% increase in new seller signing-up on the platform, in comparison to its existing seller base, for a period of April-June 2020.

Uttar Pradesh, Maharashtra, West Bengal, Delhi and Tamil Nadu are the top states where local MSMEs have shown maximum interest in taking their businesses online. These sellers operate in various categories ranging from women’s clothing, personal care, food & nutrition, home improvement tools and baby-care products. In addition, other states are also not far behind to explore how Flipkart marketplace can be leveraged to reach the consumers.

Flipkart has been at the forefront of being vocal for local for over a decade now. Some of their recent efforts include:

• To help MSMEs and sellers through this pandemic, Flipkart introduced a health insurance plan, specific to COVID-19, to cover the sellers alongwith their families and employees, at a special rate with a coverage ranging between Rs.50,000 to Rs.3,00,000 per individual with annual premiums starting at ₹369
• The most important need of the seller community, in these times, is that of working capital. To address this, we ran a special offer on loans through Flipkart’s Growth Capital programme which is designed specifically to enable independence for MSMEs who operate online. Through the programme, most of the transacting sellers can avail credit at competitive interest rates with an approval time of one day and disbursal within 48 hours.  A 3-month moratorium period has been implemented on existing loans; this means that sellers are not obligated to make a payment during this period. Further, any additional amount on sellers’ existing loans sanctioned during this period will have an extended financial limit with a 6-month moratorium period
• During the first phase of the lockdown, Flipkart’s Seller Protection Fund (SPF) enabled online sellers to claim a certain amount as compensation for unfair losses. For such SPF claims, sellers were given an extension on all the returns received for a certain period to ensure that they have enough time to raise their claims. Further, sellers did not have to wait for the usual 60 days to raise an SPF claim, and could raise one as soon as the company fully resumed its full operations
• Flipkart also extended certain ongoing premium services availed by sellers to include the lockdown period in their subscription terms so that their investment is not hampered for a stipulated period of time. These special services include Flipkart CareTouch Select, which is a premium service that allows sellers to get quicker resolutions for their business-related queries. In addition, sellers will continue to enjoy the services of Paid Account Managers — dedicated managers who work with them closely to grow their business
• Further, for sellers who may face manpower issues, Flipkart continues to build additional capacities through Flipkart Fulfillment services to ensure continuity of operations, in addition to expanding market access by increasing the number of serviceable pincodes
• Flipkart launched ‘Flipkart Samarth’ program a year back, to reach out to a large number of rural entrepreneurs, with a special focus on women-led enterprises, differently-abled entrepreneurs, artisans and weavers, with the help of NGOs, Government bodies and livelihood missions. These underserved communities often face obstacles such as lack of access to working capital, poor infrastructure and inadequate training which Flipkart wants to address
• Under the Samarth initiative, the company has already entered into MoUs with the Govts. Of Jharkhand, Punjab, Uttar Pradesh Khadi & Village Industries Board (UPKVIB) and the Gujarat State Handloom and Handicrafts Development Corporation Ltd. Flipkart has also signed an MoU with the Ministry of Housing and Urban Affairs to collaborate with state missions under the DAY-NULM to set-up the Samarth program in 22 states in India
• ‘Flipkart Samarth’ has been playing a significant role in building capabilities within the rural and underserved society of the country and is today supporting the livelihood of over 500,000 artisans, weavers and micro enterprises across India
• Flipkart has also been conducting regular workshops, in partnership with FICCI, with the aim of helping MSMEs accelerate their businesses with the benefits of e-commerce while familiarising them on how digital tools can be instrumental in increasing brand visibility and growing their business many folds

As a homegrown platform, Flipkart has a huge emphasis on enabling the local MSME industry of the country, by making them more digital and transforming their business journey. By allowing MSMEs, artisans and smaller traders in India to bring greater efficiencies in their operations with a strong market reach; E-commerce is further empowering these businesses to generate livelihood opportunities.

ICICI Lombard introduces Cyber

ICICI Lombard introduces Cyber Insurance cover for individuals

In these unprecedented times owing to the COVID-19 crisis, remote working has become the new normal. Since the lockdown was announced, like everywhere else, S. Mohan’s company too announced remote working. Before everything shut down, Sameer wanted to buy a laptop, since his device was faulty. He kept browsing different websites to find a good deal for the new laptops. One day, he got a mail offering an unbelievable deal on his favorite brand.  However, buying the laptop needed his credit card information. Since the website offered home delivery within 48 hours (even in the lockdown) he made an impulsive purchase through his credit card. Next morning Mr. Mohan woke up to a message from his bank stating that he has surpassed his credit card limit which was around INR 3, 00,000. When he opened the mail again, the ‘page was not found’. It then dawned upon Mr. Mohan that he has fallen prey to online fraud. He had lost approx. INR 3, 75,000 in a single night. He could do nothing about it as he did not have any protection to see him through.

To help customers overcome such tragedies, ICICI Lombard General Insurance, India's leading private sector non-life insurance company, announced the launch of its Retail Cyber Liability Insurance policy. This policy offers complete protection to individuals and their families against any cyber frauds or digital risks that could result in a financial or reputational loss. The retail cyber insurance product is a form of insurance that protects individuals against losses that individually vary from online theft to unauthorized transactions.

India is one of the most prominent digital markets, with a vast potential for exponential growth. Data shows on a country level; we have over  560 mn internet subscribers and over 350 mn social media users. India is the second-largest App Market by Download and has over 180 Mn+ e-commerce users. When it comes to phone-based transactions, we have over INR 1 Trillion UPI transactions.  This lays the ground for a huge potential for cyberattacks. Undoubtedly, and this opportunity is followed by the menace of cyber risks and frauds which, too, have been growing considerably. Research shows that:

·         Cyber-attacks have soared 86% in the four weeks roughly between March and April & overall 37% in first quarter of 2020

·          Hackers based in China attempted over 40,300 cyber-attacks on India in 3rd week of week of June, mostly covid-19 based scams. The attacks aimed at causing issues such as denial of service, hijacking of Internet Protocol and phishing

·         Rs 1.24 trillion is the amount lost in India in the past 12 months due to cybercrime.

·         131.2 million is the number of cybercrime victims in India in 2019 & 63% of them were impacted financially

According to the Internet Crime Report for 2019, released by FBI's Internet Crime Complaint Centre (IC3), India ranks third among the top 20 countries that are victims of cybercrimes. Going by this data, we are at a high risk of exposure, and personal cyber insurance seems the only respite.

The company's product is designed to secure the digital world against losses in the event of a cyberattack. The coverage will include protection against:

·         Identity theft

·         Cyber-bullying

·         Cyber extortion

·         Malware intrusion

·         Financial loss due to unauthorized and fraudulent use of bank account, credit card and mobile wallets

·         Legal expenses arising out of any covered risk

ICICI Lombard has innovated by covering newer threats such as

·         Reputation injury - all the expenses incurred in restoring digital reputation with means of removal of the harmful publication from the internet can also be claimed.

·         Individual lost wages – if someone loses wages that would have been otherwise earned, for the time necessarily taken off from work to rectify facts arising out of any covered risk can also be claimed

The policy can be purchased at an affordable rate by all digitally active individuals. The premium ranges from INR 6.5 per day to INR 65 per day. The Sum Insured for the cover ranges from INR 50,000 to INR 10,000,000 as opted by the policyholder. The policy provides coverage to the entire family, including children for a duration of 1 year.  

Speaking on the launch, Sanjay Datta, Chief - Claims, Underwriting and Reinsurance said, "We are living in a digital world where data is being engendered, transmitted and deposited every nanosecond. Today, data is gold. And, to protect it, is paramount. While we live a digital life, the risks of cyberattacks have also grown exponentially. Our new product comes at an opportune moment when everybody is working remotely, using social media and net banking and is digitally active. The product is designed to protect individuals against the dangers that come with the connected life like cyber-bullying, identity theft and more. The policy asserts the company's pledge to provide innovative new-age risk solutions to our customers while protecting their reputation, prospective data breaches and losses in case any vital information is stolen or abused."

ICICI Lombard's commitment to providing the best for its consumers reflects through these offerings and more which ensure that the policyholders are stress-free while they work from home and even after. True to its ethos of "Nibhaaye Vaade" (Keeping Promises), ICICI Lombard always aims at being ahead of the curve to provide the customers with innovative and unique products against the new risks.

For more information on the policy and the full range of ICICI Lombard’s Insurance portfolio please visit the website www.icicilombard.com for further details on risk factors, exclusions, terms and conditions.

Flipkart introduces 3 new regional language

Flipkart introduces 3 new regional language interfaces to make ecommerce more inclusive

• Introduces Tamil, Telugu and Kannada interfaces to offer native language e-commerce experience to consumers
• The made for India tech stack has been developed in house by Flipkart’s team of engineers
• Over 5.4 million words translated to help reduce the language barrier for users

Flipkart, India’s homegrown e-commerce marketplace, today enabled three new languages on its platform - Tamil, Telugu and Kannada as part of its vision to make online commerce more inclusive and accessible for Indian language users. This launch will help reduce the access barriers to e-commerce for native language speakers. Following the launch of Hindi interface last year, the new regional languages interface have been built on Flipkart’s ‘Localization and Translation Platform’ that will empower customers to comfortably undertake an  end-to-end ecommerce journey in their local language, with ease.

The introduction of 3 vernacular interfaces, is in line with Flipkart’s aim of developing state-of-the-art innovations to solve for the various pain points of consumers transitioning to e-commerce. According to industry reports*, Indian language internet users are expected to account for nearly 75% of India’s internet user base by 2021.

This growing base of language users, primarily from smaller towns, makes it extremely important to enable e-commerce in regional languages to offer a more personalised experience. This will also enable millions of consumers  across the country to have an engaging online shopping experience in their native languages. As Southern states account for a significant proportion of Flipkart’s growing user base coupled with a higher adoption rate of native language script, regional language interfaces will help make e-commerce more inclusive.

User Research

The new language interfaces use a judicious mix of translated and transliteration of words to make shopping more engaging for consumers. This follows an ethnographic study that was conducted over several months to get relevant insights that helped the team develop a platform that enables consumers to interact with the platform in their own language and encourage independence in purchase decisions.

The ethnography study involving meetings with participants across cities including Salem, Visakhapatnam and Mysore helped gather insights about consumers’ distinctive language behaviour across these regions and brought forward interesting insights to be implemented. This included a large scale translation of over 5.4 million words across product specifications, banners and payment pages etc., in the three languages.

Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group, said, “In the past year, we have introduced multiple solutions under Voice, Video and Vernacular to increase ecommerce adoption for millions of consumers. We truly believe that language, if solved well, can be an opportunity rather than a barrier to reach millions of consumers who have been underserved. As a homegrown e-commerce marketplace, we understand India and its diversity in a more nuanced way and are building products that have the potential to bring a long-term change. The introduction of Tamil, Telugu and Kannada interfaces, in addition to Hindi & English, is a meaningful step in that direction in line with our mission to democratize ecommerce in India.”

Jeyandran Venugopal, Chief Product and Technology Officer at Flipkart said, “As a homegrown e-commerce marketplace, Flipkart understands the importance of having an expanded universe of vernacular interfaces to empower our Bharat users and ensure easy transition of new online users to e-commerce. Today, almost 58% of our user base comes from tier-II cities and beyond and with new language interfaces of Tamil,  Telugu and Kannada along with Hindi (introduced last year) will further improve users’ ecommerce journeys by making it simpler and more personal.”

The three new language interfaces on Flipkart, are developed post the introduction of Hindi interface 9 months ago which has witnessed impressive adoption. Flipkart’s team of engineers worked on multiple tech challenges in terms of UI and platform architecture, as each language has its own nuanced characteristics.

Snapdeal resumes delivery of non- essential

Snapdeal resumes delivery of non- essential products; received 75% of orders from green & orange zones on Day one

~90% sellers in the non-restricted zones expected to be active on the platform by this week~

~Key products shipped on day 1 of relaxations includes – steel utensils, stationary, apparel, footwear and electronics like power banks, phone & laptop chargers ~

~ Resumed the process of dispatching goods to hill cities of Shimla, Solan & Mandi~

~ servicing many of the North east region demand through their sellers based in Guwahati~

~Extensive use of automated technology to mark the product as per green, orange and red Zone~

In view of the recent government guidelines, effective from 4^th May, 2020, Snapdeal has resumed the delivery of non-essential products in orange and green zones, along with the continuing deliveries of essential products. Wherever possible, the platform is prioritizing the delivery of household goods along with the on-going deliveries of essentials. On day one of Lockdown 3.0 the ecommerce company receives 75% of orders from green & orange zones.

The brand’s priority is to first deliver the products that were in transit when the lockdown was announced on March 25, 2020. Lakhs of these shipments are near consumer destinations and users have been frequently checking about these given their immediate need for such products.

Snapdeal is focused on the needs of buyers in smaller cities across India and more than 80% of its users hail from Tier 2 & 3 cities of India. The platform witnessed 40% of its orders coming from orange zone and 35% from the green zone yesterday.

It has started deliveries of non-essential products in various cities including Gurugram, Panipat, Ambala, Panchkula & Amritsar in North India. In the western region, they have commenced in Goa, parts of Gujarat (Valsad, Jamnagar, Navsari) and select towns of Rajasthan including Udaipur & Bikaner. Other cities where the platform have added delivery of non-essentials to existing operations include Visakhapatnam, Pondicherry, Thiruvananthapuram, Kozhikode and Tuticorin. 

"The overwhelming response by both buyers and sellers on Day 1 of e-commerce deliveries being allowed for non-essentials & essentials is a reflection of the important role e-commerce plays in fulfilling the needs of India. On Day one of Lockdown 3.0, we have delivered packets across India from Dehradun to Thiruvananthapuram and from Jamnagar to Jorhat. The day was also met with tremendous enthusiasm and readiness by our sellers who today shipped steel utensils from Salem, footwear from Amritsar and apparel from Gurugram. All this bears testimony to the immense spirit of Bharat. At Snapdeal we feel privileged to be part of this nationwide endeavour to unlock our society and economy"  said Snapdeal Spokesperson.

Snapdeal has worked closely with its sellers over the last few days to help them in the resumption of their operations. Thousands of its sellers received orders for non-essential products on Day 1 of the restrictions being removed.  The platform is expecting this number to grow rapidly as more sellers resume their online operations. 80-90% of Snapdeal sellers in the orange & green zones are expected to become active over the course of this week. 

“Our technology team is working extensively to process the marking of green, orange and red zone products on the platform basis the pin codes. For instance, while users across the country will be able to see the entire assortment, users in red zones will not be able to order a non-essential product, while a user in an orange or a green zone will be able to. To illustrate, today a buyer in Gurugram can order a T-Shirt, but a buyer in Delhi cannot. As soon as the user adds or updates her pin code, the availability of products and / or the timelines for delivery get updated accordingly.” Adds Snapdeal Spokesperson.

Thousands of orders for Jaipur continue to be on hold given the red status of the capital town. Deliveries to many parts of Maharashtra are currently disrupted but will commence over the next 2-3 days.

The platform has also resumed the process of dispatching goods to hill cities of Shimla, Solan & Mandi and deliveries in these towns are expected to be operational by mid this week. Given the largely green and orange status of cities in North-East India, Snapdeal has implemented a plan to service many of the needs through their sellers based in Guwahati. This will ensure faster deliveries in this region.

Key non-essential products shipped on the day one of Lockdown 3.0 includes Personal grooming products & accessories, stationary products, steel utensils, apparel, footwear and electronics like power banks, phone & laptop chargers etc. Home products and apparel continue to be the most in-demand products. The top sellers in the home category include kitchen appliances like mixers and grinders, pressure cookers, kitchen containers, water bottles, drinking glasses, kitchen tools like choppers etc. Summer products dominated the apparel category including t-shirts, Bermuda shorts, skirts, cropped tops. Nightwear items like cotton night shorts, top & pyjama sets, nighties & night-suits etc figure high on shopping lists. Simple footwear like chappals and sandals is also being picked up by users. 

During the nationwide lockdown, orders received by Snapdeal reflected a trend towards value and practical buying, users are also buying 3 & 5-packs of T-Shirts. A similar trend is seen in undergarments where users are buying multi-packs.

As Snapdeal was receiving & accepting orders of non- essential products with a promise to deliver them as soon as the lockdown is over, the company recorded a 24X jump in products in users’ shopping carts and wish lists since the start of the lockdown.