🛒 Quick commerce slices into festive sales

The most interesting news selected specially for you! 02 October 2024 [View in Browser]( Hello, Microsoft is betting big on its AI-powered products. A week after rolling out updates for its products that run on Copilot, it is launching new Windows capabilities, including a tool that can understand and respond to questions about [what’s on users’ screens](. Its Paint and Photos applications on Copilot Plus PCs are also getting new enhancements. The company seems to be taking AI tools in Adobe Photoshop with its latest [Generative Fill and Generative Erase](. Next, a fun feature on WhatsApp. The platform will soon give users access to [ten filters]( that adjust colour or add things like a “Fisheye” lens and “Vintage TV” grain effects. Users will also get ten virtual backgrounds that blur the environment, or replace it entirely with a beach, cafe, office, and more. Moving on, while technology has improved productivity, it has also created “[hidden work]( for women. According to researchers, women are 1.6 times more likely than men to juggle dual-high digital communication both at work and at home. Also, new research suggests that the decrease in human activity during the COVID-19 pandemic probably made the [Moon a little colder]( Lastly, we catch up with Niraj Singh, Founder and CEO of Spinny, as he talks about an over-crowded, over-funded second-hand car market. Watch the third episode of Disruptors Dialogues [here](. In today’s newsletter, we will talk about - Quick commerce changes festive spending - Changing the game in rental housing - What it takes to build high-growth biz Here’s your trivia for today: What show, debuted in 1963, has become the longest-running sci-fi series? --------------------------------------------------------------- Quick commerce Quick commerce changes festive spending commerce is projected to generate $1 billion in GMV during the festival season, as consumers increasingly shift from traditional offline shopping to faster, on-demand channels, according to a research note by BofA Global Research which cited a survey done by Datum Intelligence. “With increased dark stores, wider assortment, and improving popularity we expect the festive season growth to be strong for these companies (quick commerce) leading to a stronger y-o-y growth (hardly any sales last year),” the report said. Key takeaways: - Depending on inventory access and model availability, smartphones could become a growing category in the quick commerce space, the note said. - Grocery and beauty and personal care are expected to witness much faster growth compared to other categories, driven by quick commerce players. - While bigger players like Flipkart, Amazon, Reliance and BigBasket are looking to enter the quick commerce space, experts are unsure how they will gain traction as a wider assortment may not be a competitive advantage. [Know More]( --------------------------------------------------------------- Funding Alert 1) WayCool: Rs 100 Cr| Debt 2) ClayCo Cosmetics: $2M|Series A 3) IG Drones: $1M| Equity --------------------------------------------------------------- Startup Changing the game in rental housing The rental market in the metros has long been riddled with inefficiencies. To simplify and elevate the renting experience, Shail Daswani, along with Mayank Lalwani and Rishabh Agnihotri, founded Flent in 2023 with Rs 30 lakh from their personal savings. The Bengaluru-based startup offers fully furnished, designer turnkey homes with minimal deposits and zero brokerage. Full-stack solution: - Flent refurbishes properties in 3-5 days, adding furniture, decor, and appliances. It also ensures timely rent, real-time updates, rental guarantees, and property insurance, working with over 50 vendors across India. - The startup charges a commission or convenience fee ranging from 20% to 45%, depending on factors like location, property size, acquisition price, and selling price. In August, the startup generated a revenue of Rs 32 lakh. - It plans to develop category-focused tech products within 5-10 years, including a demand and supply tracking model for real-time rental pricing optimisation for landlords. [Read More]( --------------------------------------------------------------- TechSparks What it takes to build high-growth biz India's startup ecosystem facing a funding slowdown, startups face the tough choice of whether to cut back on spending and prioritise profitability over growth. At TechSparks Bengaluru 2024, the founders of Homelane and Akshayakalpa, two of India’s emerging 'soonicorns' argued that instead of choosing between growth and profitability, companies should instead focus on sustainable growth, especially as shifting global macroeconomic conditions reshape investor expectations. Profit vs growth: - “By spending money, growth won’t accelerate. Often, we get distracted from focusing on growth. But focus on the fundamentals and the core, and the results will come,” said Shashi Kumar, Founder and CEO of Akshayakalpa Organic. - Choudhry and Kumar both highlighted how investor sentiment has shifted. Unlike a few years ago when startups easily attracted capital amid favourable macroeconomic conditions, investors are now asking tougher, more scrutinising questions. - “Profitability, runway, the desire to be able to stay in the race and how much stamina the management has, are some things that are back in the focus,” said Tanuj Choudhry, Co-founder and COO of Homelane. [Read More]( --------------------------------------------------------------- From the CapTable New leadership, old challenges: Samir Kumar’s mandate at Amazon India On September 30, Manish Tiwary served his last day as head of Amazon India. His departure, which was announced in early August, was like a bolt from the blue and comes at a delicate time for the e-commerce behemoth. Amazon, which has gone toe-to-toe with local rival Flipkart for e-commerce supremacy over the past decade, finds itself on the back foot in India. For one, it has had to contend with an overall slowdown in the traditional e-commerce space since the end of the Covid-19 pandemic. Agile and hungry quick-commerce players, including Zomato-owned Blinkit, Swiggy’s Instamart, and Zepto, are also chipping away at its e-commerce empire. Amazon India isn’t just coming under pressure from plucky domestic rivals, either. Having poured billions of dollars into growing its Indian e-commerce business, Amazon’s global leadership wants to see its Indian operation move towards profitability, something it is still a long way from achieving. With Tiwari’s exit, the onus of Amazon India’s fight back now falls on Samir Kumar, who takes on the role of India country manager starting today, October 1. Key takeaways: - On October 1, Samir Kumar takes over as the head of Amazon India—one of the most challenging roles in Indian e-commerce - He takes charge at a time when Amazon has ceded ground to rivals of all shapes and sizes, including quick-commerce players - Kumar must oversee a fightback, which will include a quick-commerce-like offering, which the company is set to pilot imminently, The CapTable has learned - At the same time, Kumar must steer the company towards profitability, with the e-commerce major setting an internal target of 2025 for this [Continue Reading]( --------------------------------------------------------------- News & Updates - [Mixed reality:]( Meta Platforms will expand investment in AI innovation in Vietnam, including the production of its latest mixed reality headsets from 2025, its latest effort to boost its footprint in the country. - [Acquisition:]( Mastercard is acquiring Minna Technologies, a software firm that makes it easier for consumers to manage their subscriptions. The move comes as Mastercard is attempting to expand beyond its core credit and debit card businesses into technology services, such as cybersecurity, fraud prevention, and pay-by-bank payments. - Uncertainty[:]( French video game publisher Ubisoft is facing questions over its future, as it grapples with a lacklustre games pipeline and pressure from investors to seek a sale. The company has postponed the release of the next title in the popular game series—called “Assassin’s Creed Shadows”—by three months. Here's what else we have for you Video banking: Enabling end-to-end digital journeys for our customers, without visiting the bank In association with AWS and VideoCX.io Discover how Axis Bank is revolutionising customer experiences through its cutting-edge video banking services. With over 95% of transactions now fully digital and 70% of services available end-to-end online, the bank is leading a major transformation. Sameer Shetty, President and Head of Digital Business and Transformation at Axis Bank, shares how the bank is driving this change on a monumental scale. With one of the highest-rated mobile apps globally, Axis Bank’s is using technology to transform the Indian BFSI sector and enhancing customer interactions. Explore these insights in our series, Shaping the future of India's BFSI sector with video conferencing, brought to you [V]( in association with Amazon Web Services and YourStory. [Watch Now]( --------------------------------------------------------------- Did you know? What show, debuted in 1963, has become the longest-running sci-fi series? Answer: Doctor Who. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](