Retail News CRM

Author: Mei Ling Tan

  • Judge extends Sears lifeline to mid-January

    Judge extends Sears lifeline to mid-January

    Embattled US department store Sears has been granted yet another lifeline, with a bankruptcy auction now scheduled for January 14. That will give billionaire hedge fund operator Edward Lampert, Sears biggest shareholder and former CEO, one final opportunity to preserve the business. At Monday’s auction, he will bid against rival parties seeking to liquidate the business, described by GlobalData Retail MD Neil Saunders as “more like a patient in a coma than a fully functioning retailer”.

    Sears filed for Chapter 11 bankruptcy protection in October and the independent directors of the 126-year-old company are seeking its liquidation, seeing it as the only means by which creditors can retrieve some of the $5 billion in debts it owes. Lampert wants the remaining 425 stores trading under the Sears and Kmart banners to remain open, convinced it can return to viable trading.

    Saunders disagrees and says talk of a potential liquidation of the company suggests the much-storied retailer is now at the end of its long road to collapse.

    “Its recent journey to this point has been characterised by incredibly poor strategic decisions, chronic underinvestment, and continuous financial machinations designed to keep the company afloat. All of this impacted trading, which has remained dire.”

    Saunders says while Lampert has worked hard to rescue the remains of his empire, there is simply not enough financial firepower left in the company to persuade investors of his bid. Indeed, the terms of the deal put forward by Lampert would only likely delay the inevitable and make it far more difficult for creditors to extract their money.

    “Moreover, his track record in putting the company on a sound financial footing has been less than impressive, and we believe this has undermined his credibility with stakeholders.”

    Saunders says there may be interest from people who see value in elements of Sears business such as the automotive side, the online operations, the brands, and the various home services. Those operations include brands like Kenmore appliances, DieHard batteries and Wrangler jeans. “As such, parts of Sears could live on even if the company as we know it will disappear.”

    According to The Wall Street Journal, Sears, which merged with rival Kmart in 2005, has been losing money for seven years under Lampert’s leadership. Sine April 2007, the company has shed 200,000 staff, lost $30 billion in shareholder value and closed more than 1700 stores, leaving it with less than 700 now.

    Saunders says Sears will act as a case study in how not to run a retail operation.

    “It also serves as an example that even the once most powerful and cutting edge of brands can easily fail in a retail environment where change and evolution are the order of the day.”

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  • Amazon to soon deliver packages right in customer’s garage

    Amazon to soon deliver packages right in customer’s garage

    To enhance its in-home delivery service, Amazon has launched new products and tools within its ‘Key by Amazon’ offering for Prime members, beginning with the US. The online retail giant unveiled ‘Key for Garage’ that will allow customers to monitor and control their garage door via the Key app. “In addition to receiving deliveries at home and in your car, eligible Amazon Prime members will soon be able to get deliveries in their garage,” Amazon said in a statement on Tuesday.

    ‘Key for Garage’ is made possible by integrating Key with CGI’s proprietary ‘myQ-connected’ technology.

    “We started with the idea of in-home package delivery and quickly learned that our customers found peace of mind from the control Key gives them over their most important place – their homes – even when they aren’t there themselves,” said Rohit Shrivastava, GM of Key by Amazon.

    The online retail giant unveiled ‘Key for Garage’ that will allow customers to monitor and control their garage door via the Key app

    Amazon launched ‘Key’ in 2017 and the in-car delivery facility later. The new delivery services are available to Prime customers in some markets at no additional cost.

    Other offerings include the new Schlage Encode Smart Wi-Fi Deadbolt — the first WiFi-enabled smart lock for Key.

    The smart lock offers an innovative option for any customer who wants to experience the magic of a keyless life without any additional hub or hardware.

    “Even with all the advancements in the category, we recognized there was still a gap in simple, secure, high performance and cost-effective, all-in-one access solutions,” said Lee Odess, Vice President, Solutions Providers Business at Allegion, maker of Schlage locks.

    ‘Key for Business’ is a smart fob for drivers delivering Amazon packages to commercial and residential properties.

    “The technology allows building owners and managers to give controlled access to delivery drivers to drop off Amazon packages to their residents, and eliminate the need for building staff to manually give access each time deliveries are made,” said amazon.

    The Schlage Encode Smart Wi-Fi Deadbolt is available for pre-order for US$ 249.99 or US$ 299.99 when bundled with an Amazon Cloud Cam. It will begin shipping to the US customers on March 5.

    Key for Garage will be available in the US in the second quarter.

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  • Maybank Malaysia bags ‘The Banker’s Bank’ award

    Maybank Malaysia bags ‘The Banker’s Bank’ award

    Malayan Banking Bhd (Maybank) clinched The Banker’s Bank of the Year 2018 in Malaysia award with its fresh thinking on how to provide the best service quality to previously underserved consumers. In a statement, The Banker Editorial said Maybank launched HouzKEY, an innovative rent-to-own product, the first of its kind in Malaysia, recognising a gap in the market to provide services to Islamic banking customers.

    “With a growing demand for affordable homes in the country, Maybank created this alternative solution, which allows for home ownership through a leasing scheme that does not require a deposit.

    “Customers have a flat rate rental payment for five years, and at the end of that time, have the option to purchase the property at a price agreed at the start of the contract, continue to rent with a 2% annual rent increase, or to terminate the contract with no obligation,” it said.

    The scheme is Shariah-compliant, being based on the Ijarah principle of leasing.

    Maybank president/CEO Datuk Abdul Farid Alias said the bedrock of its success is predicated on the bank’s mission of humanising financial services, which drives it to innovate and offer financial solutions that enrich the lives of customers.

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  • Shilla duty free open new store

    Shilla duty free open new store

    Shilla Duty Free opens at Gimpo International Airport’s international terminal on Wednesday. The duty-free store run by Hotel Shilla was approved by the government in June last year in a bid against Lotte Duty Free. The duty-free store is renting the place for five years.

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  • Indonesia’s Go-Jek rejected in the Philippines

    Indonesia’s Go-Jek rejected in the Philippines

    Indonesia’s Go-Jek suffered a setback to its expansion plans on Wednesday after the transportation regulator in the Philippines rejected its application to launch a ride-hailing service, saying its domestic unit did not meet local ownership criteria. However, the setback may only be temporary as the firm, whose backers include Google, could appeal the decision or team up with Philippine investors.

    “Go-Jek can get a local partner that will own at least 60 percent of the ride-hailing entity to comply with the law,” said January Sabale, head of communications at the Land Transportation Franchising and Regulatory Board (LTFRB).

    The decision comes as Go-Jek seeks to expand in Southeast Asia, having evolved from a ride-hailing service founded in 2011 to provide a one-stop app through which users can order food and services such as massages and make payments online.

    The firm has raised billions of dollars from investors such as Tencent Holdings, JD.com and Temasek Holdings to challenge market leader Grab.

    Several Philippine ride-hailing firms have been operating in the capital Manila and in major provinces since March 2017, but have had limited success in wresting domestic market share away from Singapore-based Grab, which stands at over 90 percent.

    “Homegrown firms are not making a dent on early player Grab, because the cars they can enroll now have to go through the LTFRB’s filtering hurdles,” said Rene Santiago, a transportation expert and president of Bellwether Advisory in Manila.

    Go-Jek applied for a license to operate in Manila in August through wholly owned subsidiary Velox Technology Philippines. Later the same month, ride-hailing was added to a list of industries where foreign ownership is limited to 40 percent.

    Velox “did not meet the citizenship requirement and the application was not verified in accordance with our rules,” regulator chairman Martin Delgra said

    A spokesman for Go-Jek said: “We continue to engage positively with the LTFRB and other government agencies, as we seek to provide a much-needed transportation solution for the people of the Philippines.”

    There are around 37,000 registered ride-hailing vehicles across eight accredited firms, Delgra said. The Department of Transportation has capped the total at 65,000.

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  • LG to utilize Azure for autonomous systems

    LG to utilize Azure for autonomous systems

    LG Electronics will be utilizing a Microsoft product in the development of autonomous vehicle systems, LG said Wednesday. Under the agreement between the two companies, LG has gained access to Microsoft’s Azure cloud-computing platform for its self-driving car systems. Apart from storing vast amounts of data, the Azure platform also offers immense computing power for data-based applications and services.

    The two companies met Monday to sign a memorandum of understanding at the Consumer Electronics Show (CES) in Las Vegas. LG will connect with Azure in developing driver-support systems, cameras and a virtual assistant that can answer vocal commands.

    “Developing software for self-driving car components – whether it’s for navigation or infotainment – requires an enormous amount of data processing,” explained an LG spokesperson.

    “The agreement with Microsoft Azure is basically aimed at helping our software save and utilize as much data as possible in the shortest amount of time.”

    LG plans to use Azure’s high-performance computing and graphics processing units. According to the company, these tools can slash the time required to learn roads and traffic patterns from more than a full day to a few minutes. Higher processing speeds will also help the software learn patterns gathered from cameras regarding the driver, pedestrians and other objects on the streets.

    Another tool offered on the Azure platform is a voice assistant. LG plans to incorporate this into its infotainment system so that the car’s software can answer questions and receive commands.

    It could, for example, check traffic conditions, search for a restaurant nearby or call up favorite songs.

    The large amounts of data LG collects from self-driving cars will be saved in the Azure system, including photos of roads, obstacles and road signs collected from all over the world. LG will be able to utilize the data collected for further development. In the past, before cloud services existed, international data had to be shipped to Korea in hard drives.

    LG Electronics has been supplying components to self-driving carmakers since late 2016. The field is considered a future growth engine for the company.

    “In the upcoming age of autonomous vehicles, LG Electronics will shift the definition of cars from a means of transportation to a mobile space, which can turn into a conference room, a theater or a shopping mall,” said the company’s chief technology officer, Park Il-pyung, during a pre-show keynote speech on Monday.

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  • Shakey’s Pizza to open 20 more stores in Asia

    Shakey’s Pizza to open 20 more stores in Asia

    Philippines fast-food operator Shakey’s Pizza Asia says it plans to continue expansion across the region by opening 20 new stores this year. The openings will see the brand’s total outlets increase to 248 locations, according to a statement released by the firm on Wednesday. “We continue to see consumer spending fueling the Philippine economy, which is still one of Southeast Asia’s fastest-growing markets,” said president and CEO Vicente L Gregorio.

    Shakeys reached its target of opening 20 new stores last year, expanding mostly outside first-tier cities. “We are focused on expanding outside Metro Manila where we see great potential in terms of demand for the premium yet affordable dining experience we provide. We also tapped more local partners … to run our provincial operations and to ensure that we have on-the-ground accountability even in farther-flung areas,” said Gregorio.

    Shakeys has operated in the Philippines since 1975 under Shakey’s Pizza Asia, which has stores in several international territories and opened its second Dubai location last year with record-breaking first-day sales.

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  • Online Marketplaces India: Delivering fashion to the discerning masses

    Online Marketplaces India: Delivering fashion to the discerning masses

    The online fashion space in India is positively buzzing with private labels or brand partnerships. Recently, heritage American denim brand, Wrangler collaborated with Indian e-commerce giant, Flipkart to launch an exclusive sub-brand called Wrangler 20X. Myntra also launched its in-house plus size apparel brand, Sztori as well as House of Pataudi, an ethnic wear brand co-owned by Myntra, Exceed Entertainment and Bollywood actor Saif Ali Khan.

    Addressing Consumer Demand

    Wrangler 20X is targeted at the digitally-savvy youth who increasingly shop for fashion online and are seeking the perfect mix of trend and value. Gen Z are increasingly brand-aware and aspire to own brands with flaunt appeal. The denim brand aims to give them a brand that they would be proud to wear at prices they can afford.

    Known for democratising fashion across segments, the launch of both Sztori and House of Pataudi enables Myntra to go a step further and include profiles into the ambit of ‘fashion for all’. It champions inclusivity in fashion, evaluating and emphasising greater attention to styles, trends, designs, fit and fabric for plus sized apparel and fashion conscious consumers, in order to bring out the personality of the person wearing it.

    Sztori has been especially designed to suit a larger range of body shapes and sizes. It is essentially a designer wear in the plus size category, offering consumers the perfect fit and multiple style options. The apparel is made to suit plus size body types rather than prove to be a mere extension in size on existing profiles, thus breaking the existing age-old norm in the Indian market.

    Manohar Kamath, CXO and Head, Myntra Fashion Brands, says, “We are extremely delighted to announce the addition of Sztori to our portfolio of private brands. Plus size clothing is in great demand and it was time we offered something substantial in the category, opening up more avenues and possibilities for our customers.”

    The brand offers a range of products for men and women, including, tees, denims, tops, dresses and more in L to XXXXL (Large to 4 times Large) sizes. Shoppers can choose from over 225 styles and designs at prices ranging from Rs 799-Rs 1,999.

    Myntra identified a space opportunity in this segment and set out to design and develop merchandise under a new brand to cater to the category and make wearers look fashionable with multiple style options at affordable prices and opening new avenues in the industry.

    ‘House of Pataudi’ is a lifestyle brand for men and women that delivers fine taste and refinement to the discerning and the fashion conscious. Each piece not only exudes style but also narrates the rich story and history of the Pataudi heritage. The collection comprises traditional Indian wear, conceptualised inthe form of Rozana, every day wear with a contemporary ethnic touch; Jashn, festive finery with a regal charm; Riwayat, bespoke splendour for the classic Indian wedding; and a Special Edition, comprising collections inspired by the Pataudi trousseau.

    The range includes kurtas, sherwanis and Nehru jackets for men and kurta sets, lehengas and dresses for women. Products from House of Pataudi will be available exclusively on Myntra and Jabong, across a price range of Rs 1,500-Rs 15,000 for men and Rs ,000-Rs 20,000 for women. The brand’s design team has worked closely with Saif Ali Khan; inspired by his own personal style statement and has designed and perfected the line, modelling it on the Pataudi lineage and contemporary fashion preferences, to make it relatable for the modern fashion shopper. House of Pataudi is focused on changing the perception about ethnic dressing being limited only to festivals and occasions and bringing it back to everyday wear.

    Tapping the Market

    “Research estimates that the plus size segment will account for US$ 5 to 6 billion in the US$40 billion Indian online fashion apparel market, by 2020, which is approximately 10 to 12 percent of the overall market, making it an important proposition,” shares Manohar Kamath.

    Flipkart’s has aggressive plans to grow the fashion business and this maps well with Wrangler’s vision of meeting the needs of the young, online shopper. “We are delighted to partner with

    Flipkart on the launch of Wrangler 20X. The brand will be available exclusively on Flipkart and is designed for young, trend-aware digital citizens who aspire to buy Wrangler but are also looking for a more affordable value proposition. We look forward to working with Flipkart to make this a successful sub-brand of Wrangler,” comments Krishna Dorai, General Manager, Wrangler.

    Rishi Vasudev, Vice President, Flipkart Fashion says, “Men’s fashion is one of our fastest growing categories, where we have witnessed a 75 percent Y-o-Y growth, within which denims is one of the most successful categories. Crafted basis an understanding of what fashion shoppers are looking for, we are excited to launch Wrangler 20X, a denim-wear brand, from the house of Wrangler, exclusively on Flipkart Fashion. The range is specifically designed to off er the latest in fashion to the style conscious young men looking for the best in the value branded segment and we are sure, this range will be a massive hit, while it strengthens our men’s portfolio.”

    The Wrangler 20X collection features attractive style elements such as PU detailing on the pockets and belt loops, the shirts embrace printed designs with yarn-dyed fabrics and the tees receive a fresh colourful graphic spin. The sub-brand is currently available only for men.

    Ananth Narayanan, Ex-CEO, Myntra- Jabong, said, “We are clearly focused on a strong customer proposition and currently there is a huge gap in brand offerings in the ethnic wear space, especially for men. House of Pataudi is an ideal fit, being rich on tradition, heritage, design, and offers customers a slice of the world that we believe is lost, at price points that are highly affordable.”

  • Hyundai Mobis shows off futuristic concept self-driving car

    Hyundai Mobis shows off futuristic concept self-driving car

    Hyundai Mobis introduced its concept autonomous car equipped with 26 sensors and a special lighting system that enables cars to communicate with pedestrians at the Consumer Electronics Show (CES) in Las Vegas on Tuesday.

    The auto parts maker said it is the first time it has unveiled a concept car with at least Level 4 self-driving capability, which means cars can drive themselves without being actively monitored by the driver.

    The car comes with a modular self-driving kit comprised of various sensors – which function as eyes for the car – on the roof as well as lamps that can send messages to nearby pedestrians or cars. Mobis calls all of the technologies and parts used on the autonomous vehicle M.Vision.

    The kit on the roof – comprised of four lidar sensors, or laser-based radar, and five multifunctional camera sensors – are key strengths of M.Vision, according to Mobis.

    The modular kit can simply be mounted on the roof, so it can easily be used on different vehicles. The Korean company said it is best to put sensors on the car’s roof, considering that sensors can better detect the surrounding environment when they are placed higher above the car. To complement the kit on the roof, Mobis also installed five radar sensors and 12 ultrasonic sensors on the car’s lower body.

    The Korean company is on its way to make all sensors used in the kit with its own technology by 2020.

    The so-called communication lighting technology is a new innovation that Mobis thinks will greatly reduce fatal accidents involving autonomous cars and pedestrians.

    The company said it will use lighting to indicate to pedestrians and other drivers when the car is driving in self-drive mode. Autonomous cars will be able to detect a pedestrian from more than 450 feet away. Once someone is detected, car headlamps will project a red warning symbol to warn people it’s not safe to move around the vehicle.

    “Light has been used as a conduit for communication among vehicles and pedestrians for almost as long as the automobile has existed, so we are excited to lead the evolution of this technology to save lives and offer peace of mind to all that use the road,” said Mirco Goetz, director of lamp engineering at Hyundai Mobis.

    “Our primary focus on the safe progression to future mobility will enable our industry to continue the advancement of autonomous vehicle technology while helping to keep pedestrians and drivers out of harm’s way.”

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  • Vietnam retail sales reported soaring

    Vietnam retail sales reported soaring

    Vietnam retail sales grew at 13 per cent last year, with food and beverage, apparel and household appliances leading the way, according to Savills Vietnam. The country’s Ministry of Industry and Trade has estimated total revenue generated from retail sales and consumer services reached US$191 billion last year. Vietnam retail sales accounted for $143.3 billion of that figure, or more than 75 per cent.

    The highest growth was recorded in precious stones and metals, wood and building materials, food, household appliances, and garments.

    Sales from accommodation and catering services grew by 9.1 per cent to $23.3 billion, accounting for 12.3 per cent of the total retail sales.

    Retail space supply

    The supply of retail space in Vietnam increased by more than 28,000sqm last year with two new shopping centres opening and  several others changing format or closing. Total stock was approximately 1.3 million sqm, up 9 per cent year on year and the average gross rent rose 2 per cent quarter on quarter.

    This year, Savills predicts, new supply in CBD locations will be only 31,700sqm with another 215,000sqm becoming available in non-CBD districts.

    Outlook

    Meanwhile, the ministry predicts total revenue from retailing and consumer services will increase at an average of 13 per cent this year, reaching $255.5 billion.

    Between 2021 and 2025, the predicted growth rate is 14 per cent with total revenue reaching $484.58 billion by 2025.

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  • Hyundai puts holograms on road to help with navigation

    Hyundai Motor Group unveiled a holographic AR navigation system, the first of its kind, in collaboration with start-up WayRay at the Consumer Electronics Show (CES) in Las Vegas on Tuesday. Hyundai partnered with the Switzerland-based start-up that specializes in AR technology and demonstrated the navigation system on the group’s luxury sedan, the Genesis G80.

    While conventional head-up displays (HUD) project a reflected image through a liquid-crystal display screen installed on the dashboard, the new holographic AR system displays what appear to be 3-D images on the road through the windshield and automatically adjusts the displayed information to the driver’s viewing angle.

    The AR navigation system, demonstrated at WayRay’s CES booth, also takes up considerably more real estate compared to existing HUDs, typically relegated to a small corner of the windshield, and displays a variety of driving information that includes navigational features and safety warnings.

    Information such as lane guidance, destination points and the current speed is shown along with advanced driver-assistance system features including lane departure warnings and forward collision warnings.

    Hyundai said an image size of 3.15 meters (10.33 feet) by 1.31 meters will be visible from the driver’s perspective, despite the actual projected image being just 310 millimeters (12.2 inches) by 130 millimeters. The company’s existing HUD was changed to incorporate WayRay’s system.

    Hyundai promised that the technology will bring changes to the conventional concept of a windshield.

    “Future mobility windshields will be more than just a piece of glass,” said Hwang Yun-seong, director of Hyundai Motor Group’s Open Innovation Business Group. “AR holographic powered glass will serve as a platform to provide new services and open up new in-vehicle experiences”

    Hyundai said that the two companies will continue to cooperate to expand the technology to display information that identifies objects on the road such as buses and crosswalks.

    The two companies also plan to incorporate real-time data such as traffic signals, surrounding vehicle information and road or weather conditions into the technology.

    Hyundai has worked on holographic technology since 2017 and invested in WayRay last September.

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  • KoinWorks Indonesia Announces Investment From Quona Capital

    KoinWorks Indonesia Announces Investment From Quona Capital

    Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it will further help develop KoinWorks in becoming a responsible peer-to-peer lending firm and continue to innovate and provide a positive impact for society,” Benedicto added.

    Quona Capital focuses on investment in financial technology companies it deems to have potential in facilitating access to financial products. The Washington-based company provides financial access in various regions, including Latin America, Africa, Britain and Asia.

    KoinWorks said in the statement that the collaboration between itself and Quona Capital is based on a mutual understanding that technology has a strong role in improving quality and access to financial access for those beyond the reach of traditional banks.

    The Jakarta-based fintech company, which has 100,000 investors on its platform, is one of the first fintech companies in the country to have obtained a license from the Financial Services Authority (OJK).

    KoinWorks bridges the gap between investors and investees through its online platform and provides unbanked individuals with access to financial services.

    The company focuses on business and educational loans. It won Bisnis Indonesia’s Most Innovative Fintech of the Year award in 2017.

  • Kutchina opens second store in Nepal

    Kutchina opens second store in Nepal

    Kutchina has opened its second store in Kathmandu spanning across 500 sq.ft. Targeting middle and higher income group customers, the store offers complete kitchen solutions including entire range of big appliances and modular kitchen. Look and feel of the store is a mixture of Kutchina’s modern concept with a traditional touch of Nepal’s rich culture. The walls of the store are given a look of Brick Mounting which resembles traditional houses of Nepal and adds that wow factor to the store.

    Designed by in-house designers, the store highlights all the elements of the products with the use of LED and Track lights. At present, the brand has 20 stores in India and 2 in Nepal.

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  • More Chinese seniors embrace WeChat

    More Chinese seniors embrace WeChat

    The ubiquitous WeChat is continuing to expand its reach across all age groups – especially among people aged 55 and above. According to the 2018 WeChat Data Report released at the WeChat Open Class Pro 2019 event in Guangzhou this week, seniors recorded the fastest growth of any age group last year. WeChat says more people are sharing more content on the platform: users are sending more messages, making more voice and video calls, and posting more frequently on their WeChat Moments timelines.

    Figures for September show WeChat had 1.082 billion monthly active users and 45 billion messages were sent daily on the app, up 18 per cent on the previous year. The number of calls daily – 410 million – was double the previous year’s number. From 2015 to last year, the volume of text messages rose 110 per cent, voice messages rose 212 per cent, image volume by 255 per cent and videos by a massive 1900 per cent.

    WeChat Pay is taking an increasing share of payments at retailers, with monthly transactions up 150 per cent in September, compared with the previous year. Transactions by consumers aged 55 and above in department stores rose by 320 per cent year on year.

    More people are using WeChat for work and more businesses are using WeChat to connect with customers and staff, according to the report.

    The company said WeChat Mini Programs, launched two years ago, has been widely adopted by users and businesses with more than 600 million people using Mini Programs at least once a week on services or products from more than 200 industry segments. The number of transactions (by volume) increased sixfold last year.

    In a statement, WeChat said it would continue to create more advanced tools, open APIs and enhanced cloud services so developers can help businesses build Mini Programs more efficiently.

    During the past year, WeChat has introduced features such as Scan-to-Buy enabling users to pay without queueing at cashiers and Smart Recommendations based on users’ past purchases to help merchants increase conversion and operational efficiency, grow their membership programs, reduce manpower costs and deliver more personalised services to customers.

    The WeChat Open Class Pro event is for merchants and developers. The photos accompanying this story are from the event.

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  • Restaurant association questions deep discounts on Swiggy, Zomato

    Restaurant association questions deep discounts on Swiggy, Zomato

    The National Restaurant Association of India (NRAI) on Tuesday said it has raised concerns over deep discounting and data masking by food ordering and delivery startups such as Swiggy, Zomato and Ola’s Foodpanda. According to a report, The restaurants’ body said it flagged issues regarding misuse of dominant position, in a meeting with the app-based food ordering and delivery startups.

    “NRAI delivery task force had its first meeting with Swiggy, Zomato, Uber Eats and Foodpanda today (Tuesday). Concerns of the standalone and chain business operators regarding deep discounting, data masking, right to use own logistics, private labels and ad hoc campaigns were put forth,” NRAI president Rahul Singh said in a statement.

    Stating that the “concerns have been well taken”, he said, “we aim to continue these meetings on a bi-monthly basis for communicating feedback from the restaurant industry to the aggregators to ensure a healthy business environment for all stakeholders.” NRAI is the apex body of the Indian restaurant industry, representing over one lakh restaurants across the country.

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