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At a meeting held on May 15, the Consumer Affairs Agency pointed out that the presence of fake reviews on e-commerce platforms is endangering the trustworthiness and trustworthiness of shopping platforms.Representative image (Photo: Pexels)Abhijeet Kumar New Delhi The Ministry of Consumer Affairs on Wednesday held a stakeholder meeting with e-commerce companies on protecting consumer interests from online fake reviews. India's leading e-commerce companies have expressed support for the government's initiative announced by the Department of Consumer Affairs to enforce quality standards for consumer reviews. It noted that the number of consumer complaints related to e-commerce registered with the NCH has…
The company's stock hit a record high on Thursday, closing up about 7%.Walmart Chief Financial Officer John David Rainey said in an interview with CNBC that Walmart's grocery business is experiencing a widening price difference between cooking food at home and buying food at fast-food chains and restaurants. He said that this is one of the factors that is pushing up the trend.Additionally, he added, shoppers appreciate the convenience that Walmart offers. For the first time, the company's delivery business exceeded in-store pickup volumes, Rainey said.”We have customers that are coming into our stores more frequently and we have new…
Internet penetration has made Kenya the third largest e-commerce market in Africa, making it an attractive market for investors. Statista, a German data and business intelligence platform, ranked Kenya third with an e-commerce market penetration rate of 46.7% on the continent. This is behind Egypt and South Africa (49.4 percent), which topped the list with an e-commerce penetration rate of 55.4 percent. This is an improvement from her fourth fastest growing e-commerce economy in sub-Saharan Africa, based on his 2020 analysis of the United Nations Conference on Trade and Development. However, Kenya's improved ranking comes at a time when e-commerce…
A person parks a bicycle in front of Alibaba's office in Beijing, China. [AP] The South Korean government plans to impose stricter certification requirements on certain products purchased directly overseas to protect domestic consumers and retailers. When purchasing products from overseas e-commerce providers such as Amazon, AliExpress, and Temu, children's products such as hydrothermal mattresses and electronic devices must carry the Korea Certification (KC) mark. KC is a mandatory safety mark in South Korea. This applies to various imported products sold in the Korean market. The move comes as Chinese e-commerce operators are rapidly increasing their presence in South Korea's…
Report Ocean (analyzes markets of 150+ countries and works on 1,00000+ published and upcoming reports each year) We present research reports and the most successful strategies. Fashion B2B E-commerce. This report has been compiled by top subject matter experts, researchers, and market research experts to ensure that the information included is compiled from the most reliable sources and the forecasts are the most accurate. To predict market growth, experts employ various measures. Methodology and analytical approach, SWOT (analysis method), PESTEL analysis, regression analysis, etc.of Fashion B2B E-commerce The study also examines the various regulations and policies implemented by the company.…
India's leading e-commerce companies on Wednesday supported a government proposal to make compliance with quality standards for consumer reviews mandatory, the Ministry of Consumer Affairs announced.At a meeting held here, representatives of Amazon, Flipkart, Google, Meta and others supported the draft Quality Control Order to implement the IS19000:2022 standard on 'online consumer reviews', the ministry said. .They agreed that the order is important to protect the interests of consumers from misleading reviews on shopping sites and apps, adding that the draft order will be submitted for public consultation.“The discussion on the transition to IS 19000:2022 Quality Control Directive was welcomed…
My Teresa reported on Wednesday that the dismal luxury e-commerce sector posted yet another impressive quarterly growth.The Munich-based online luxury retailer said net sales rose 18% to 234 million euros ($253 million) in its fiscal year ending in March. It expects full-year net sales to rise 13% to 869 million euros. Adjusted earnings before interest, taxes, depreciation and amortization also nearly tripled to 9 million euros as lower inventory levels reduced the company's reliance on discounting.Mytheresa's steady sales growth is attributed to the retailer's ability to differentiate its products from competitors. In the third quarter, it released limited-edition capsule collections…
Sign up to receive the Vogue Business newsletter Get the latest luxury news and insights, plus member-only discounts.Mytheresa's net sales increased by 18% to €233.9 million in the third quarter ended March 31, 2024. This was led by the United States.Gross merchandise value (GMV) increased by 14.7% to €252.2 million, and gross profit increased by 12% to €101.6 million, resulting in a gross margin of 43.4%. The average order value on Mytheresa increased by 8% to €692 during the quarter. Meanwhile, the efforts Mytheresa took part in last year to reduce promotional activity have significantly reduced inventory. Inventories increased 33.1…
The success of India's thriving e-commerce sector is driven by consumer trust, experts said on Wednesday, highlighting the importance of transparency, data security and a good shopping experience in fostering this trust. emphasized. 2023 marked a significant turning point for India's e-commerce sector, witnessing notable changes in consumer trends, technology, and regulations. In a webinar on “E-commerce Annual Review and Protecting Customer Interests'' conducted by InGovern Research Services, experts say major e-commerce players prioritize clear communication of policies and product details and invest in rigorous data security measures. and emphasized how to ensure intuitive user experience. Improve customer experience, maintain…
They said they agreed that this order is important to protect consumers' interests from misleading reviews on shopping websites and apps.Consumer Affairs Secretary Nidhi Khare, who chaired the meeting, said the standard was important because online shoppers rely heavily on reviews for purchases that cannot be physically inspected.press trust of india New Delhi India's leading e-commerce companies on Wednesday supported a government proposal to make compliance with quality standards for consumer reviews mandatory, the Ministry of Consumer Affairs announced. At a meeting held here, representatives of Amazon, Flipkart, Google, Meta and others supported the draft Quality Control Order to implement…