Business

Demonetisation in India

How Will Demonetization Affect E-Commerce Business in India

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The move on the night of November 8 th , 2016 has left an indelible mark in the history of Indian Economics. Demonetizing the 500 and 1000 rupees notes that were in use, with an ultimatum of just 4 hours, left the entire nation in panic. The move to curb black money in the nation and to keep at bay the money launderers was also received positively by a section of the citizens. But did the master stroke move by the Prime Minister of India favor the industries who circulate a lot of cash as part of their daily execution? The answer is a definite ‘NO’. Listing below are the few immediate after-effects witnessed by the nation after the demonetization move:

Demonetisation in India

Demonetisation in India

How Will Demonetization Affect E-Commerce Business in India

1. Consumerism dropped by 50% because of the cash inflow and outflow restrictions. With daily and weekly limits set for withdrawing cash, the masses were bound by a Laxman Rekha boundary to possess and use the money at hand.

2. Services were almost halted as cashless buying of services were a problem – imagine your plumber and maid ready to work for a digital payment mode!

3. Trade sectors like agriculture, retail buying/ selling which involved too many cash transactions were grossly impacted.

4. Counterfeit of illegal exchange of notes for wrong doings within the country was thwarted. A major positive effect of demonetization.

5. Large scale industries like e-Commerce which also operates on cash exchanges for buying and selling have witnessed impact in business.

6. Food chain over the online channel saw a major drop in online ordering of items because of the restrictions amongst the buyers with the cash.

Of the above effects, here are further assessment points on the last couple of effects of demonetization over e-commerce. Though transacting through cash has been only one of the mode of payments over online buying, let’s discuss how the move to demonetize higher values of currency notes has impacted their business with consumers.

E-Commerce after Demonetization

What happened after the 8th of November, 2016 with the online mediums who were selling products? Here are immediate effects in e-Commerce business after the masterstroke move –

a. The announcement for the old notes’ non-acceptance to make a purchase on ANY of the e-commerce site using the Cash on Delivery (CoD) was made on their sites. Alternate payments methods of wallets, debit and credit cards were put forth for the use.

b. E-Commerce giant, Amazon India, stopped CoD immediately after the announcement of the demonetization

c. Key e-Commerce players like Flipkart and SnapDeal made restrictions on the order value to Rs. 1000 if you were paying through CoD option.

Masterstroke altering major decisions of the e-Commerce players – that’s phenomenal. But is it proving to be beneficial for them? May be not! The demonetization will affect e-Commerce both in the short term and the long run.

What is the future for e-Commerce?

  • Flipkart and Zomato has reported a large drop in the conversion figures. Both have a strong online presence for e-commerce and food discovery. It is believed that close to 60% of their business is done through cash transactions and that section of business has gone under the chisel now.
  • The market research agents are not surprised by this. Forrester Research has released its research notes saying that the e-Commerce business will have a tough time for 1 -3 months with this move. The Cash on Delivery will have to come down and the customers will be forced to switch to online payment modes.
  • The Gross Merchandise Volume (GMV) of the online sellers is going to see an online trend as the buyer volume dips. Not all buyers are familiar with wallets and possess credit cards.
  • Luxury goods or items of higher cart value purchases will be hit phenomenally. It was earlier believed that black money was majorly utilized to make purchases of large order values and subsequently fulfilled using the black money. So the demonetization will see the drastic fall of orders in the e-Commerce sector where items such as LCD, LED TVs are bought and bulk ordering of B2B sector with CoD mode of payments are done.
  • On the positive note, the wallets and digital payments will see an upward trend. It may seem minimal initially but is sure expected to go uphill.
  • Financial institutions will encourage buying with easy monthly options and the rates of borrowing are expected to favour the buyer. This will contribute to higher selling – another outcome that the e-Commerce sector will be happy about.

On the whole, the e-Commerce business will be affected and it is a hope that the bad times don’t last long for them!

Read Also: Essay on Demonetization

Article Title: How Will Demonetization Affect E-Commerce Business in India
Article first published on February 15, 2017.

OLX Logo

How Does OLX Makes Money? What Is The Revenue of OLX?

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OLX is one of the most popular free classified websites over the Internet. OLX is also one of the most visited websites in the world. OLX spends a large amount of money for the branding as well as on other product development. Thus, it arises a lot of question among many Internet users, that how OLX make money? What is the revenue of OLX?

In this article, we have provided information on how OLX makes money and its source of revenue.

OLX Logo

OLX Logo

2 Ways OLX Makes Huge Money Online, Source of Revenue

1. Text Ads/Banner Advertisement

It is the most popular way to make money online. OLX also uses the same method to earn money to run their operations and make a profit. They use Google AdSense, and other advertising networks to monetize their website. Most of time, Google AdSense ads are displayed when you open OLX website. So, it is one of the income streams for OLX to make some profit and run their operations.

2. Premium Listing/Paid Listing

A premium listing or paid listing will be seen top of each and every search or category. You have to pay extra money to show your classified ad on the top of search or category listing. However, charges are normal but you will get a good result based on your requirement.

OLX stopped this method to earn money. Right now, text ads and banner advertisement are the only way to make money and earn profit for them. OLX has many country specific websites, especially designed according to the needs of particular country. When writing this article on April 4, 2015, OLX.com’s Alexa Rank is 20,165. So, you can think that how much visitors OLX may be getting to earn a few thousand dollars daily. OLX.in is more popular than OLX.com, because Alexa Rank of OLX.in is 409 (global). Thus, OLX must be making a lot of amount from its million of visitors each month.

Article Title: How Does OLX Makes Money? What Is The Revenue of OLX?
Article last re-published on September 20, 2016.

World Economic Forum, Davos

How to Watch World Economic Forum Davos 2017 Live Streaming Online

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World Economic Forum Davos 2017 is an important and globally popular conference and summit, attended by elite people. It is one of the most covered business summits in the world. Why World Economic Forum Davos is so much popular around the world? It is attended by global political leaders including royal families, prime ministers, heads of state, presidents, vice presidents, foreign ministers, finance ministers, highest government officials, business leaders, billionaires, and other elite people. It is one of the most important business events in the world.

In this article, we have provided best tips and guide on how to watch World Economic Forum Davos 2017 live streaming online. So, let’s read tips!

World Economic Forum, Davos

World Economic Forum, Davos

How to Watch World Economic Forum Davos 2017 Live Streaming Online

To watch the live streaming of World Economic Forum Davos 2017 online without paying anything, you should need to visit the official website of the World Economic Forum Davos 2017, the URL is given below.

  • https://www.weforum.org/

Alternatively, you could also visit the official website of your national level business channel. In last option, you could visit the official YouTube channel of World Economic Forum Davos for latest videos. You should also need to visit the official YouTube channels of your country’s national level business channels. Other general news channels will also provide the coverage of this important event.

Read Also: Best Hotels for World Economic Forum Davos

Fast Facts About World Economic Forum Davos

  • Formation: 1971
  • Official Language: English
  • Purpose: Economic
  • Region served: Worldwide
  • Type: Nonprofit Organization
  • Formerly called: European Management Forum
  • Legal status: Foundation
  • Headquarters: Cologny, Switzerland
  • Motto: Committed to improving the state of the world

We hope that the information on how to watch World Economic Forum Davos 2017 live streaming will be useful to all people worldwide. Do not forget to share this article on popular social media websites.

Article Title: How to Watch World Economic Forum Davos 2017 Live Streaming Online
Article first published on September 25, 2016.

How 7th Pay Commission will create positive impact on Indian economy

Shabina 3 comments

7th Pay Commission is the most awaited pay commission by lakhs of Government employees. After implementation of seventh pay commission recommendations, salaries of central government employees will be hiked almost double from now according to sources. A common man have question, “Why government employees should be paid this salary, Isn’t it create burden on government?”. To clear this doubt, I am providing my own personal opinion and thought. So, let’s read!

A man counting money

A man counting money

How 7th Pay Commission will create positive impact on Indian economy

After implementation of 7th Pay Commission, income of lakhs of government employees also will be increased. So, they have surplus money each month. Where they will spend this money? Ofcourse, for their personal usage such as buy new car, buy new motorbike, buy new home, and so on.

How economy will be benefited if government employees spending power increase? But obvious, government employees spend these money for buying new things or they will save it for their future expenses. After all, where this money will be in? Yes, in India. Whether, they will save money or spend, money will be in India.

Suppose, central government employees buy a new car, then it will be helpful for the people working in automobile industry. If they start building new home or repair existing one, then many labours will get employment for that period of time. It will have good and positive impact on economy after all because the spending power will be increased due to this.

So, a common man should not worry about the salary of government employees but they should worry about the performance of the government employees. I think, it is the moral responsibility of all government employees to perform well and serve to the people as they are paying good salaries to them.

Please visit 7th Pay Commission unofficial website to get more information.

Article last re-published on June 30, 2016.

How to Become Rich in India [Best Tips & Guide]

Shabina 15 comments

India is one of the fastest growing markets in the world. India is also considered as one of the best countries to invest in start ups. Recently, India has produced a large number of successful online start ups such as Just Dial, Flipkart, Myntra, Quikr, Jabong, Naukri.com, Snapdeal, and many others. It is one of the waves in India to become rich shortly and easily through an online start up. You have to wait for several years to become rich in India. Online is one of the best ways to become rich fast and quickly otherwise you will become rich after your 60s or 7os.

In this article, we have compiled a list of the best ways to become rich in India easily and quickly.

How to Become Rich in India

Indian Currency Notes

1. Become A Blogger

Blogging is one of the best ways to become rich in India without investment or with a small investment or you can say without money. You should have an extra-ordinary skill to become wealthy and rich in short-time otherwise you have to wait longer. In recent time, many bloggers become crorepati due to their hard work and dedication to the work.

Blogging is the fastest and the easiest way to become rich in India. There are many guides available online on how to become a successful blogger. You should download that PDF and start your journey soon. Quora is also the best way to discover other people’s success stories through their answers. It is no matter, if you are young age or in middle of your life, you can start your blogging journey.

2. Penny Stocks

Penny stocks are considered the most important stocks to become millionaire overnight and also become beggar overnight. We have seen a few people made good money just from penny stocks. It is one of the riskiest tradings in the stock market. So, be aware before implementing this step otherwise you will lost, what you have right now.

3. Invest in Real Estate

Real Estate is one of the fastest growing sectors in India. Most of millionaires and billionaires invest their money in the real estate market to make more money in short time. We are recommending you to invest in real estate market in India in newer areas where you may find development chances. Do not invest your money in already developed area, because you will get less return on this.

4. Alternative Investment

Many persons in India started a new trend, which is to invest in alternative investment. An alternative investment is considered as one of the safest as well as provide high returns on money. For example, collectible items (Historical Autographs, Philately, Bank Notes, Coins), Art Work (Paintings), and such other items. You should know that how much money a painting of M F Hussain fetches at the auction houses in India as well as abroad.

5. Invent Something

If we see in the past, millionaires and billionaires have invented something from their own. For example, Mark Zuckerberg has created Facebook to connect people across the world. Larry Page and Sergey Brin also invented web search engine Google to make search more easy and convenient to the user.

6. Invest in Start Up

Start up company provides you a large return compare to other traditional investment such as fixed deposits in bank/post office, real estate, and others. In recent time, start up companies has given great returns on investment. So, it is one of the best ways to double your money within a short time of period.

Note: If you are not comfortable in English, then you can use online translation tools to translate this article in your native language such as Hindi.

Article last re-published on January 31, 2016.

4 best bosses across the world

Shabina one comments

Most of us looking for the best bosses to live a perfect professional life but all are not lucky to get one. Still, there are a lot of bosses across the world who have done significant for their employees. In this article, we have compiled a list of the best bosses across the world in no particular order.

4 Best Bosses Across the World

Savji Dholakia – Harikrishna Exports, India

Savji Dholakia is the Chairman of Harikrishna Exports, a diamond firm situated in the city of Surat in the state of Gujarat in India. The company has more than 1,200 employees and a turnover of 6,000 crore. In each Diwali, company gives bonus/gifts cars, flats and jewellery to their employees. In 2014, company has given 500 Fiat Punto, 570 jewellery sets, and 207 flats.

Surat diamond boss gifts cars, flats and jewellery

Surat diamond boss gifts cars, flats and jewellery

Li Jinyuan – Tiens Group, China

Tiens Group is one of the large companies in China. The group is led by Chinese billionaire Li Jinyuan. He has spent US$14.6 Million to take his 6,400 employees to French vacation. His company booked almost 5000 rooms in France to accommodate his employees.

Chinese boss takes 6400 employees to French vacation

Chinese boss takes 6400 employees to French vacation

Li Huisen – Infitus, China

Li Huisen is one of the richest persons in China and CEO of herbal health company Infitus. He spent nearly £11m on whisking his employees in Bangkok and Pattaya. The news was revealed by Thailand tourism chief Juthaporn Rerngronasa, who said it will be bringing in 600million Thai Baht, to the country’s economy.

Chinese boss takes his employees to Thailand for free

Chinese boss takes his employees to Thailand for free

Dan Price – Gravity Payments, United States

Dan Price is the CEO of Gravity Payments, a payment processing company based in the United States of America. To give raise in employees salary, he cut his salary from $1 million to just $70,000. After his salary cut, his employees will get double the pay for next years.

Gravity Payments CEO Dane Price

Gravity Payments CEO Dane Price

Article first published on May 17, 2015.

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