Hello and good day!
Summer is lacking opportunities for bargain hunters, Amazon reckoned and introduces 'Prime Day', a day of discounts aimed at luring more subscribers to its paid loyalty programme. Indian e-tailers launch a new image search and M&S expands its free click & collect service.
Indian e-tailers simplify product search E-commerce platform Flipkart is rolling out image search on its mobile app, which allows users to upload photos of fashion items and find similar products inside the Flipkart merchandise database. Fellow e-tailers Craftsvilla and Voonik are following suit.
Snapdeal plans services platform Yet another former Bharti Airtel executive has been appointed by Snapdeal as the online marketplace plans to build a services platform. Govind Rajan is the company's new chief strategy officer. Anand Chandrasekaran, who joined Snapdeal as chief product officer and has also been recruited from the telecom giant Bharti Airtel, gave his first interview.
British high street chains to change hands The UK high street stationery chain Paperchase is being eyed by the US-based investment Paladin, which is close to wrapping up a GBP 150 million purchase of the company +++ Following the company's enormous profit slide in the financial year to January, half the Wilkinson family have sold their holding in Wilko Retail to the rest of the family for GBP 63 million.
Costco to start second store in Spain The US membership-only warehouse club will open its second store in Spain (paywall), which will employ 420 people, in September. The company also plans to open its Spanish headquarters, which will have 100 employees.
Exec changes announced QVC has appointed former Abercrombie exec Sanjay Singh as senior finance VP +++ Lowe's has promoted Tiffany L. Mason to senior VP of corporate finance and treasurer +++ Bhavdeep Singh is to resign as EVP, fresh formats from Ahold.
M-commerce on the rise According to a joint study by Assocham and Deloitte, global e-commerce sales made through mobile devices are expected to cross USD 638 billion by 2018. E-tailers like Flipkart, Amazon and Jabong get 50% of their revenues from m-commerce.
Contactless transactions grow rapidly Over 1 billion contactless transactions have been made across Europe in the last 12 months, totalling more than EUR 12.6 billion, Visa Europe said. Total transaction volumes for the payment method have increased by 964% in the last two years.