Meesho taps Bharat this festive season
Internet commerce firm Meesho is gearing up to host its biggest festive sale event, joining the battle along with Amazon and Flipkart to woo shoppers. It is expecting 80 per cent of its orders to come from Bharat, or rural India, which includes small towns and cities. Meesho’s ‘Mega Blockbuster Sale’ starts on September 23 and will coincide with Flipkart’s ‘The Big Billion Days’ and Amazon’s ‘Great Indian Festival’. Meesho said its sale event this month has been meticulously curated based on its deep understanding of the consumers. This includes their needs, aspirations and buying patterns during the festive season. “Meesho continues to strengthen the focus on users underserved by traditional e-commerce companies,” said Utkrishta Kumar, CXO-Business at Meesho, in an interview. “The festive sale gives Meesho a great opportunity to further its mission of democratizing internet commerce in India. We are primarily focused on building and solving for Bharat as we want to bring consumers and sellers from the deepest and farthest corners of the country.”
Crypto traders flee Indian Exchanges for Binance to escape taxes
The 30% tax rate on virtual currency assets has come into effect from April 1 and the latest addition was 1% TDS from July 1 this year. Additionally, losses in one crypto transaction cannot be set off with gains in another crypto transaction. Binance Holdings Ltd.’s billionaire Chief Executive Officer Changpeng Zhao is tightening his grip on India’s market for cryptocurrency trading in the fallout from this major tax change. Downloads of Binance’s app in India jumped to 429,000 in August, the highest this year and almost triple that of runner-up CoinDCX, data from market intelligence firm Sensor Tower show. Only Binance among the top exchanges achieved higher downloads in India compared with July. The operator of the world’s largest crypto exchange stands out in a market where rivals are reeling from steep taxes and the difficulty of moving money in and out of trading venues. Daily volumes at key India-based platforms are down over 90% since a 1% tax on crypto transactions took effect in July. Indian-origin platforms have begun deducting the levy but many foreign peers like Binance and FTX haven’t, prompting investors to switch to the latter.
Instagram to let Indian parents control kids’ usage
Instagram introduced controls for parents of underage users in India. Called Parental Supervision, the suite of settings offers controls that parents can tweak in order to see the kind of internet experiences that their kids are exposed to. The features were announced globally in December last year, and rolled out to users in the US in March. The move comes just over a year after the platform started restricting the amount of data that advertisers could collect and use to serve targeted content to users under 16 years of age. The platform’s move comes at a time when legislators around the world, including India, have been flagging issues around underage usage of social media platforms, and how children’s data could be misused for targeted advertising and other related purposes. India’s draft Personal Data Protection bill, which has now been withdrawn, also required social media firms to seek parental approval before allowing children under the age of 18 before allowing them to use the platforms.
National Logistics Policy sets roadmap for developing more interconnected framework, say experts
The National Logistics Policy sets the roadmap for developing a more interconnected and tech-driven framework for building cost and operational efficiency in the sector, industry experts said. The policy, unveiled by Prime Minister Narendra Modi on 17th September, reflects the government’s positive intent to address all the core challenges of the logistics and supply chain industry, Anshuman Singh, the Chairman and Managing Director of Stellar Value Chain Solutions said. It will not only inspire all logistics players to come together and collaborate to build logistics competitiveness globally but also increase the confidence of investors who are keen to invest in the logistics sector. The focal push for digitisation through platforms like ULIP and E-LogS is crucial to support the designed services improvement framework in improving regulatory inter-operability, standardization of logistic processes and in bringing the entire multimodal network onto a single digital dashboard, enhancing visibility and transparency for all stakeholders. According to Vineet Agarwal, MD at Transport Corporation of India, the push towards seamless multimodal transportation and modern connectivity will be a game changer as it will shift the transportation stress from just road to other modes as well.
Gartner outlines six trends driving near-term adoption of Metaverse Technologies
Six trends are driving the use of metaverse technologies today and will continue to drive its use over the next three to five years, according to Gartner, Inc. Speaking at Gartner IT Symposium/Xpo in Australia, Marty Resnick, VP analyst at Gartner said that while widescale adoption of metaverse technologies is more than 10 years away, there are practical ways organizations are harnessing them now, for example, in employee onboarding, sales enablement, higher education, medical and military training and immersive shopping experiences. Gartner defines a metaverse as “the next level of interaction in the virtual and physical worlds.” Metaverse technologies allow people to replicate or enhance their physical activities, by transporting or extending physical activities to a virtual world, or by transforming the physical one. Gaming The gaming industry, specifically video games, has been an innovator in experience and technology for many years. The metaverse will use gaming technologies, methodologies, development tools and even game theory to create experiences for both entertainment and training simulations. Digital Humans are interactive, AI-driven representations that have some of the characteristics, personality, knowledge and mindset of a human, typically rendered as digital twins, digital avatars, humanoid robots or conversational user interfaces. A virtual space — or virtual world — is a computer-generated environment where groups of people can come together using personal avatars or holograms. Virtual spaces engage multiple senses and provide participants with the ability to immerse and interact with the space. Shared Experiences A shared experience brings a group of people together within a virtual space. The metaverse will move shared experiences out of siloed immersive applications and allow for more opportunities to meet, collaborate, interact, participate or otherwise share experiences across applications, consumer events and services. Tokenized Assets offer new business models for content creators. Spatial Computing combines physical and digital objects to digitally enhance physical spaces. This allows organizations to get more out of physical and digital assets by surfacing related, “unseen” digital information and content anchored to people, places and things.
Youtube To Show Users 5 Unskippable Ads Instead Of Two Before A Video Starts
YouTube, the world’s largest video sharing platform, wants more people to join their YouTube Premium programme by paying. And so, to facilitate this, YouTube is currently testing showing users five unskippable ads before a video starts. YouTube users who are not subscribed to YouTube Premium, will now receive up to 5 advertisements at the beginning of the video. And although YouTube claims that the ads shown in such spots will be bumper ads or basically, ads that are about 6 seconds in length, the reality is, people have seen ads that are longer than 10 seconds. The news broke out when several YouTube’s regular or non-premium users started complaining on Twitter and Reddit that they have been receiving 5 ads instead of 2, before they could watch their YouTube video. Not all regular YouTube viewers are dealing with the “5 ads before your video starts” situation, so it seems like YouTube is currently testing out the waters among selected users.
Advertising viewability improves in India
Invalid traffic activity has increased almost universally, according to the Media Quality Report for H1 2022 by Integral Ad Science (IAS).Most markets in APAC saw higher ad fraud rates across desktop display, with Singapore’s 1.9 percentage point increase year-on-year (YoY) being the largest, contributing to an overall ad fraud rate at 4.9% in H1 2022. Japan and Vietnam followed with respective ad fraud rates of 3.3% and 3.1%. Australia (1.6%) and New Zealand (0.7%) posted smaller fraud rate increases, while India lowered theirs by 0.8%. Globally desktop display advertisers saw an ad fraud rates hit 13.2% on average for those not optimized-against-ad fraud, while those with protection in place averaged a 1.4%. Mobile web display remained safer in APAC than desktop with most markets like Singapore, Vietnam, Indonesia, India and New Zealand keeping the uptick in optimized ad fraud rates below 1%, while Australia and Japan saw declines. The type of buys across mobile display impressions also had an impact, with programmatic buys in Indonesia, Japan, Singapore and Vietnam registering higher ad fraud rates than direct publisher buys.
FB Real-time Community Chats Soon
Facebook (now Meta) has announced a new feature called Community Chats that will soon allow users to connect with their communities in real time on both Facebook and Messenger via text, audio and video. Meta CEO Mark Zuckerberg said that the company is building Community Chats as a new way to connect with people who share interests. “More than 1 billion people use Messenger to communicate with friends, and soon you’ll be able to start Community Chats from Messenger as well as Facebook Groups,” he said. “We’ll also be expanding Community Chats to even more Facebook Groups,” said Loredana Crisan, Head of Messenger. Admins can now start a conversation about a topic and get in-the-moment responses instead of waiting for people to comment on a post. “Rather than navigating multiple topics in a single Messenger group chat, the person who creates the Community Chat can organize chats into categories so group members can easily find what’s most interesting to them,” Crisan added. Community Chats will only be accessible to members of a group.