Second wave of ecommerce 🌊
Virtual reps, Boeing comeback, and ad backlash intensifying.
Hi 👋, Tanvi here.
Filter Coffee is a newsletter that hits your inbox every morning with notable tech and business news scoops to jump start your day. Sign up below for free 👇
Let’s go ahead and get started:
Stock market summary: 💥
US - S&P 500 up 1.47%
India - Sensex down 0.60%
The second wave of ecommerce 🌊
The pandemic redefined ecommerce, chipping away essentials and other daily shopping from offline-retail’s wings, and moving most of it online. Estimates even suggest ecommerce in on its way to double market share on an annual basis in India.
Flipkart is apparently witnessing almost 125% spike in new independent sellers just within the last quarter on the platform, as retail-sellers hamstrung by lock-downs are turning to digital platforms to find buyers as well as for turnkey fulfillment services.
Also, most new seller sign ups have come from hinterland states including UP, Maha, West Bengal, and Tamil Nadu. What’s best is digital platforms are increasingly working hard to make it easier for sellers to access credit, launch stores, and bypass traditional regulations to get started, leaving lasting impact within these economies.
This continued entrepreneurial expansion and momentum means tons of opportunities for India’s commerce. Logistics, shipping, transportation, operations, wholesaling, software services, support services, taxation etc. etc. - all economic segments stand to benefit widely. Moreover, the gain in employment and economic empowerment of unskilled workers is an unmissable benefit.
One thing is for sure, ecommerce 2.0 will be a much more impactful, lasting and empowering wave for India. More here.
Remote customer services is a thing and AMZN is making it happen in India
AMZN India plans on hiring about 20,000 seasonal/temporary employees within its customer services division to support booming demand and keep customer experience consistent with their global standards.
Well, it gets better - most of these positions will be part of Amazon's virtual customer service program, which also helps provide flexible work from home options.
Eligibility requirements aren’t daunting with basic needs of a 12th pass and proficiency in either Hindi, Tamil, Telugu English or Kannada enough to get started. Over time, AMZN plans on making these positions permanent based on how candidates perform.
The company had announced earlier this year that it plans to create one million jobs in India by 2025 by directing cash towards building a robust tech, infrastructure and its logistics network. The investment has received fair bit of criticism for hurting domestic ecommerce companies.
Regardless of the competitive outcomes, we think this is phenomenal news for India’s employable populace.
Can Boeing pull off a comeback? 🧐
Boeing’s best selling plane, the 737 Max, was grounded for nearly 15 months after 2 fatal crashes had killed 346 people earlier last year, and subsequent investigations showed ample company negligence in handling the crisis.
However, as the company regains its mojo, a certification-related test-flight for the 737 Max is now officially scheduled for next week. Approval by the Federal Aviation Administration would be needed for new pilot training procedures and other tests. The flight test is expected to last at least 2 days.
Currently the FAA is reviewing Boeing’s documentation and will conduct the test only after they are satisfied with their data. Post that, Boeing can resume customer pilot training, which may take months before the planes hit the skies.
In early April the airplane company said that it would make updates to the 737 Max’s flight control and also update the stall prevention MCAS system that had failed in both crashes.
Boeing stock has been down 60% since its 2019 highs and investors are praying for a comeback.
Ad boycott bandwagon pulls more passengers
The digital ad backlash mounts as Starbucks becomes the latest to join the boycott, claiming to halt advertising on all social platforms, other than YouTube. Soon after, Pepsi joined the brigade halting ads through July and August.
Until yesterday a range of large bracket spenders joined the crusade and we wrote about it at length here. The boycott is supposedly putting 5-7% of FB’s 2020 revenue at risk.
Some pundits believe that these companies will soon realize that they have no alternatives and will come back, while others read catastrophic outcomes for social media companies.
FB’s stock dropped by more than 8% on Friday, with Twitter stock plunging by 7% and both companies traded in the red on Monday too.
Autonomy suddenly picks steam globally
Ride hailing leader in China, Didi Chuxing, is actively testing its autonomous taxi solution in a geofenced zone within Shanghai.
Apparently, passengers are allowed to take free rides within the designated open traffic areas in Shanghai's Jiading district. The AVs do have a driver inside who will take over controls in an emergency. The approach is already quite actively under practice in the US.
Also, a centralized control center monitors the vehicle fleet and operating conditions real time at all hours to offer remote command assistance using V2X tech, leveraging China’s monitoring infrastructure deployed at main intersections.
The tests are routine but Didi hopes to deploy 1 million self driving cars through its platform by 2030 and raised $500 Million more from SoftBank last month.
Also, Amazon had made a splashy buy with Zoox just last week in the autonomy arena.
What else are we snackin’ 🍿
🔒 Maha extends lockdown till 31 July- the Maha government has extended its blanket lockdown until 31 July now following steady increase of new infections. Only people traveling for employment and with emergencies will be allowed unrestricted movement and other non essential movement will be restricted.
🛑 India bans more than 59 China based tech platforms - in its most aggressive take down of China owned technology properties ever, GOI went all guns blazing, banning almost 59 apps in India with popular services like “TikTok”, “UC browser” and “WeChat” facing the brunt. Experts believe the rebuttal is part of India’s “Atma-Nirbhar” policy, and served as a punch to China’s aggression on the borders.
🔺Single day spike of 19,459 cases, takes India’s infection tally to 5.5 lakhs- The death toll rose to 16,475 with 380 new fatalities. While the infection rate due to rapid testing increased, the recovery rates remain high too.
🤦♀️ Pak’s dark day - 4 armed men stormed the Pakistan Stock Exchange in Karachi and went on a shooting spree, killing 5 people and injuring 5 more. The attack was stopped by security personnel who intervened, killing all gunmen.
Tweet of the day -
Hope you took a thing or two away from today’s edition. 😀
If you like it, show us some love by clicking the heart icon below. And don’t forget to invite your friends.